Document:

Settlement Agreement, dated as of March 23, 2005

 Exhibit 10.1 
  
 Settlement Agreement, dated March 23, 2005 
  
 SETTLEMENT AGREEMENT 
  
 This Agreement is between the Indiana Department of Revenue (“IDR”) and Trump Indiana, Inc. (“Trump Indiana”), and is
entered into as of March 23, 2005. 
  
 Recitals 

 
 WHEREAS, Trump Indiana commenced its case under Chapter 11, Title 11,
United States Code (the “Bankruptcy Code”) on November 21, 2004 (the “Petition Date”); and 
  
 WHEREAS, on November 22, 2004, the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”) granted Trump
Indiana’s Motion For Order Authorizing Debtors To Pay Prepetition Trust Fund Taxes, Other Prepetition Priority Taxes And Gaming Taxes And Fees, and Trump Indiana’s Motion For Order Authorizing Payment Of Certain Prepetition Customer
Related Claims And Obligations (collectively, the “First Day Orders”); and 
  
 WHEREAS, IDR filed its Proof of Claim (the “IDR Claim”) asserting its claim for taxes, a copy of which is attached hereto as Exhibit A; and 
  
 WHEREAS, Trump Indiana disputes certain tax obligations set forth in the IDR
Claim; and 
  
 WHEREAS, it is the duty of the Commissioner of IDR
to enforce and uphold the tax laws of the State of Indiana; and 
  
 WHEREAS, IDR has reviewed the facts and law applicable to the liabilities of Trump Indiana; and 
  
 WHEREAS, IDR and Trump Indiana desire to enter into a written agreement that eliminates the necessity of litigating their differences on the same
substantive issues for different tax years, as well as end the liability of Trump Indiana for corporate income taxes and sales and use taxes, interest, and penalties arising from IDR’s audit of Trump Indiana’s business activities during
certain tax periods and to obtain payment in full of such obligations promptly; and 
  
 WHEREAS, Trump Indiana and IDR seek to resolve the disputes between them and to fix the amount and treatment of all claims asserted by IDR and to provide for the payment of such claims pursuant to Section 3.03(b) of
Trump Indiana’s Amended Joint Plan of Reorganization, dated February 12, 2005, as amended from time to time (the “Plan”), which provides for payment of tax claims pursuant to an agreement by the parties; and 
  
 WHEREAS, pursuant to the terms of this Agreement and consistent with the
proposed Plan, Trump Indiana will pay IDR $20,708,071.28 as set forth below in satisfaction of IDR’s tax claims against Trump Indiana for all unpaid tax obligations existing as of the Petition Date in final resolution of all tax claims related
to tax returns filed through that date except as set forth herein; and 
  
 WHEREAS, based upon this Agreement, IDR has refrained from asserting an objection to confirmation of the Plan. 
  
 NOW THEREFORE, in consideration of the premises and for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the
parties hereby agree as follows: 
  
 1. Recitals. The
recitals set forth herein above are a material part of this Agreement and are hereby incorporated by reference. 

 2. This is an agreement referenced in Sections 3.03(b) and 5.23 of the Plan and shall be effective upon
entry of the Confirmation Order; provided, however, (a) the requirement for Interim Payments (as defined below) set forth under ¶ 3(a) hereof shall immediately be effective upon execution hereof; and (b) at the sole election of IDR, this
Agreement shall terminate and all compromises as to the claims resolved herein shall become void if the Effective Date (as defined in the Plan) does not occur on or before June 30, 2005, and/or the payments due under ¶ 3(a) are not made within
ten (10) days of the date they are due. 
  
 3. Payment
Schedule. Trump Indiana shall pay IDR $20,708,071.28, payable as follows: 
  
 (a) Within five (5) days of execution of this Agreement, and pursuant to the First Day Orders, Trump Indiana shall pay IDR $500,000 at the notice address set forth below and shall pay each month thereafter on the
first day of such month $500,000, through and including the Effective Date (collectively, the “Interim Payments”). These Interim Payments shall be applied first to the satisfaction of liabilities for all taxes entitled to the lowest
priority pursuant to Bankruptcy Code § 507, i.e., the general unsecured tax claims and, upon satisfaction thereof, to the next lowest priority claim and so forth, until paid in full. 
  
 (b) On the Effective Date, Trump Indiana shall pay the
balance of the settlement amount to IDR. 
  
 This Agreement and the payments
described in this Section 3 are subject to approval of the Bankruptcy Court. Within five business days of the date on which this Agreement is executed, Trump Indiana shall file a motion seeking such approval and shall use commercially reasonable
efforts to obtain such approval. In the event the Bankruptcy Court does not provide such approval, IDR shall disgorge any payments received on or before the date on which the Bankruptcy Court denies such approval. In that event, moreover, the
releases set forth at Section 5 below shall not be effective and IDR shall retain whatever rights it has or had, prior to and as of the date of this Agreement, to assert any and all claims against Trump Indiana. Notwithstanding the foregoing, Trump
Indiana shall make all payments described in this Section 3 in accordance with terms hereof pending the approval of the Bankruptcy Court. 
  
 4. Written Satisfaction. Within five (5) days of Trump Indiana making its final payment in accordance with this Agreement, IDR shall issue to Trump
Indiana a letter indicating that the IDR Claim is fully and completely satisfied. 
  
 5. Releases. Upon receipt and application of the payment hereunder pursuant to ¶ 3(b): (a) IDR agrees and confirms that it will not hereafter seek to assess or reassess against or collect from Trump
Indiana, or any officer, director, shareholder, employee or agent of Trump Indiana, any Income Tax or Sales/Use Tax, including related interest or penalties, for the tax periods of the IDR Claim and that such tax periods are closed to assessments;
provided, however, that if Trump Indiana files a Claim for Refund (which it may do respecting solely the amounts of base tax, interest, and penalty for 2003 that are identified as “per audit” on the exhibit to the IDR Proof of Claim), then
IDR is free to audit and assess all claims related in any way to that Claim for Refund and all normal and customary administrative procedures related thereto shall apply and be followed; (b) IDR hereby releases Trump Indiana and all officers,
directors, shareholders, employees or agents of Trump Indiana from liability for any Income Tax or Sales/Use Tax, including related interest and penalties for the tax periods of the IDR Claim, except for the promises contained in this Agreement,
including any Claim for Refund audit set forth above. Upon the grant of the release set forth above, Trump Indiana hereby releases the State of Indiana, IDR, employees, officers, agents and attorneys, from any and all liabilities, expenses, demands,
causes of action and claims whatsoever related to the IDR Claim and resolved hereby, except for the promises contained in this Agreement, including any Claim for Refund, if any, specifically set forth above. 
  
 6. Waiver. Trump Indiana agrees and confirms that it will not seek
through claim for refund or any other method a refund of any Income Tax or Sales/Use Tax for the tax periods of the IDR Claim, except for the specific Claim for Refund permitted above. Trump Indiana acknowledges hereby that it waives any and all
objections to the IDR Claim, as modified hereby and further acknowledges that relief under § 505 of the Bankruptcy Code is inapplicable and inappropriate hereunder. Trump Indiana hereby further waives its rights to relief under Bankruptcy Code
§ 505 respecting the IDR Claim and taxes assessed therein or claims for refund asserted by Trump Indiana covered by this Agreement. 
  

 2 

 7. Confidentiality. Trump Indiana and IDR, for themselves and for their respective attorneys in
this action agree: (a) they will not divulge, disclose, or communicate to any other person, organization, or corporation that is not affiliated with or related to Trump Indiana, the terms or conditions of this Agreement except as may be required by
law; and (b) they will not disclose, disseminate, or reveal the original, any copy, or any portion of this Agreement to any person, organization, or corporation that is not affiliated with or related to Trump Indiana, except as may be required by
law; provided, however, nothing herein shall prohibit either the parties or their attorneys from divulging, disclosing, or communicating about this Agreement and its terms and conditions, either orally or in writing, or from disclosing,
disseminating, or revealing this Agreement: 
  
 (i) to IDR, its employees, agents, and attorneys, or a court, or 
  
 (ii) to Trump Indiana or its employees, agents, and attorneys, in connection with this or any other Indiana tax dispute involving Trump Indiana. 
  
 8. Authority. Each party to this Agreement hereby represents and warrants that it has legal authority to enter this
Agreement with respect to the subject matter of this Agreement, that the person executing the Agreement on behalf of the party is authorized to do so, and that the Agreement shall be binding and enforceable when duly executed and delivered by each
party. This Agreement shall be binding upon and inure to the benefit of each of the parties and their respective or related departments, agencies, predecessors, successors and assigns. 
  
 9. No Admission Of Liability. Neither party to this Agreement, by the execution of this Agreement or the performance
of its terms, shall be deemed to have made any admission or concession of fact or law whatsoever. 
  
 10. Scope Of Agreement. This Agreement represents a compromise of all issues between the parties. 
  
 11. Miscellaneous. Time is of the essence of this Agreement. The
parties, jointly and severally, covenant and agree to execute and deliver, or cause to be executed and delivered, upon request by IDR, such further instruments and documents, and to perform or cause to be performed, such further acts, as may be
necessary to carry out the terms, provisions, and purposes of this Agreement. Any modification, amendment, or waiver of any provision of this Agreement, or a consent to any departure by the parties, jointly and severally, shall be effective only
when the same shall be in writing and signed by both parties, and then such waiver or consent shall be effective only in the specific instance and for the purpose given. 
  
 12. Choice Of Law. This Agreement shall be governed by Indiana law and shall be modified only in writing signed by
the parties. 
  
 13. Notices. Any notices, demands, or
communications required or permitted under this Agreement (including all payments) shall be in writing and shall be directed as follows: 
  

			
	If to IDR:	  	Dr. Jerome M. Secttor, Deputy Administrator
	 	  	Legal Division
	 	  	Indiana Department of Revenue
	 	  	Room N248
	 	  	100 North Senate Avenue
	 	  	Indianapolis, IN 46204
		
	With a copy to:	  	Michael W. Hile, Esq.
	 	  	Katz & Korin, P.C.
	 	  	334 North Senate Avenue
	 	  	Indianapolis, IN 46204-1708
		
	If to Trump Indiana:	  	Trump Indiana, Inc.
	 	  	One Buffington Harbor
	 	  	Gary, IN 46401
	 	  	Attn: Chris Leininger

  

 3 

			
		
	With a copy to:        	  	Jeff Dible, Esq.
	 	  	Locke Reynolds, LLP
	 	  	201 N. Illinois Street, Suite 1000
	 	  	P.O. Box 44961
	 	  	Indianapolis, IN 46244-0961

  
 14. Binding
Effect. This Agreement shall be binding upon and shall enure to the benefit of the parties hereto and their respective heirs, executors, administrators, legal representatives, successors and assigns. 
  
 15. Captions. The captions to this Agreement are inserted for
convenience of reference only and in no way define, describe or limit the scope or intent of this Agreement or any of the provisions hereof. 
  
 16. Counterparts. This Agreement may be executed in the original or in any number of counterparts, each of which shall be deemed to be an original
and all of which together shall constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written.

  

							
	Trump Indiana, Inc.	  	Indiana Department of Revenue
				
	 By:
	  	 /s/    CHRIS LEININGER        

	  	 By:
	  	 /s/    JOHN ECKART        

	Printed:	  	Chris Leininger	  	Printed:	  	John Eckart
	Title:	  	General Manager	  	Title:	  	Commissioner
				
	 By:
	  	 /s/    JEFF DIBLE        

	  	 By:
	  	 /s/    MICHAEL J.
GABOVITCH        

	 	  	Jeff Dible, Esq.	  	 	  	Michael J. Gabovitch, Esq.
		
	Attorney for Trump, Indiana, Inc.	  	Attorney for the Indiana Department of Revenue

  

 5Form of Non-Qualified Stock Option Agreement

 Exhibit 10.27 
  
 NON-QUALIFIED 
 STOCK OPTION AGREEMENT 
 UNDER THE 
 KNOLL, INC. 
 1999 STOCK INCENTIVE PLAN 
  
 THIS AGREEMENT, made as of this 17th day of December, 2004 by and between
Knoll, Inc., a Delaware corporation (the “Company”), and John F. Maypole (the “Optionee”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Optionee is now employed or engaged as a consultant by the Company or one of its subsidiaries in a key capacity, or is a director of the
Company, and the Company desires to have him remain in such employment and to afford him the opportunity to acquire, or enlarge, his ownership of the Company’s Common Stock, par value $.01 per share (“Stock”), so that he may have a
direct proprietary interest in the Company’s success (all references to employment hereinafter shall relate to any consulting, directorship or similar relationship, as applicable, and all references to employment or termination of employment
with or by the Company shall include employment with or by any of the Company’s direct or indirect subsidiaries, as applicable); 
  
 NOW, THEREFORE, in consideration of the covenants and agreements herein contained, the parties hereto hereby agree as follows: 
  
 1. Grant of Option. Subject to the terms and conditions set
forth herein and in the Company’s 1999 Stock Incentive Plan as amended and/or restated (the “Plan”), the Company hereby grants to the Optionee, during the period commencing on the date of this Agreement and ending ten years from the
date hereof (the “Termination Date”), the right and option (the right to purchase any one share of Stock hereunder being an “Option”) to purchase from the Company, at a price of $17.80 per share, an aggregate of 25,000 shares of
Stock. The Optionee expressly acknowledges receipt of a copy of the Plan and agrees to be bound by all of the provisions of the Plan. 
  
 2. Limitations on Exercise of Option. Subject to compliance with the terms and conditions set forth herein, the Optionee may exercise 25% of
the Options on and after December 17, 2005, an additional 25% of the Options on and after December 17, 2006, an additional 25% of the Options on and after December 17, 2007, and an additional 25% of the Options on and after December 17, 2008.
Notwithstanding the vesting provisions in this Section 2, 

  

 
upon a Change in Control (following the date hereof), as defined in Exhibit A annexed hereto, 100% of the Options, to the extent not previously exercised,
shall become fully vested and exercisable. 
  
 3.
Termination of Employment. 
  
 A. If prior to the
Termination Date, the Optionee shall cease to be employed by the Company by reason of a disability, as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), or by reason of retirement on or after age
65, the Options shall remain exercisable until the earlier of the Termination Date or one year after the date of cessation of employment to the extent the Options were exercisable at the time of cessation of employment. 
  
 B. If the Optionee shall cease to be employed by the Company prior to the
Termination Date by reason of death, or the Optionee shall die while entitled to exercise any of the Options pursuant to paragraph 3(A) or the second sentence of paragraph 3(C), the executor or administrator of the estate of the Optionee or the
person or persons to whom the Options shall have been validly transferred by the executor or administrator pursuant to will or the laws of descent and distribution shall have the right, until the earlier of the Termination Date or one year after the
date of death, to exercise the Options to the extent that the Optionee was entitled to exercise them on the date of death, subject to any other limitation contained herein on the exercise of the Options in effect on the date of exercise. 

 
 C. If the Optionee voluntarily terminates employment with the Company for
reasons other than death, disability, or retirement on or after age 65 (a termination on account of death, disability or retirement on or after age 65 being referred to herein as a “Special Circumstances Termination”), or if the
Optionee’s employment with the Company is terminated for Cause, as hereinafter defined, unless otherwise provided by the Committee, the Options, to the extent not exercised prior to such termination, shall lapse and be canceled. If the Company
terminates the Optionee’s employment without Cause, as hereinafter defined, the Options, to the extent exercisable immediately prior to such termination, shall continue to be exercisable until the earlier of the Termination Date or ninety (90)
days after the date of such termination. For purposes of the immediately preceding sentence, any days during which the Optionee is prohibited from selling Stock into the public market on account of any underwriters’ lock-up period or any
blackout period imposed by the Company, shall (without duplication) not be counted. 
  
 D. For purposes of this Agreement, unless otherwise provided in an employment agreement between the Company and the Optionee, “Cause” shall mean: (i) the Optionee’s failure (except where due to a
disability), neglect or refusal to perform his duties 

  

 2 

 
which failure, neglect or refusal shall not have been corrected by the Optionee within 30 days of receipt by the Optionee of written notice from the Company
of such failure, neglect or refusal, which notice shall specifically set forth the nature of said failure, neglect or refusal, (ii) any engaging by the Optionee in conduct that has the effect of injuring the reputation or business of the Company or
its affiliates in any material respect; (iii) any continued or repeated absence from the Company, unless such absence is (A) approved or excused by the Board or (B) is the result of the Optionee’s illness, disability or incapacity; (iv) use of
illegal drugs by the Optionee or repeated drunkenness; (v) conviction of the Optionee for the commission of a felony; or (vi) the commission by the Optionee of an act of fraud or embezzlement against the Company. 
  
 E. Except as otherwise provided in paragraph 3(D) hereof, whether employment
has been or could have been terminated for the purposes of this Agreement, and the reasons therefor, shall be determined by the Committee, whose determination shall be final, binding and conclusive. 
  
 F. After the expiration of any exercise period described in either of
paragraphs 3(A), 3(B) or 3(C) hereof, the Options shall terminate together with all of the Optionee’s rights hereunder, to the extent not previously exercised. All vesting with respect to the Options shall cease upon the Optionee’s
termination of employment with the Company and all Options to the extent unvested at the time of termination shall expire. 
  
 4. Method of Exercising Option. 
  
 A. The Optionee may exercise any or all of the Options by delivering to the Company a written notice signed by the Optionee stating the number of Options
that the Optionee has elected to exercise at that time, together with full payment of the purchase price of the shares to be thereby purchased from the Company. Payment of the purchase price of the shares may be made by certified or bank
cashier’s check payable to the order of the Company, or, in the sole discretion of the Committee, (i) by surrender or delivery to the Company of shares of Stock or other property acceptable to the Committee in its sole discretion, which Stock
or other property shall have a value equal to the purchase price, (ii) after the date of an initial public offering, by delivery to the Committee of a copy of irrevocable instructions to a stockbroker to deliver promptly to the Company an amount of
sale or loan proceeds sufficient to pay the purchase price, or (iii) by such other means as the Committee shall allow in its discretion. Notwithstanding anything herein to the contrary, the Company shall not directly or indirectly extend or maintain
credit, or arrange for the extension of credit, in the form of a personal loan to or for any director or executive officer of the Company hereunder in violation of Section 402 of the Sarbanes-Oxley Act of 2002. 
  

 3 

 B. At the time of exercise, the Optionee shall pay to the Company such amount as the Company deems
necessary to satisfy its obligation to withhold Federal, state or local income or other taxes incurred by reason of the exercise or the transfer of shares thereupon. The Committee may, in its sole discretion, allow for the withholding of shares of
Stock by the Company having a value equal to the amount necessary to satisfy all or part of the tax withholding requirements. 
  
 5. Issuance of Shares. Subject to any limitations set forth in the Plan, as promptly as practical after receipt of such written notification
and full payment of such purchase price and any required income tax withholding amount, the Company shall issue or transfer to the Optionee the number of shares with respect to which Options have been so exercised, and shall deliver to the Optionee
a certificate or certificates therefor, registered in the Optionee’s name. 
  
 6. Successors. Whenever the word “Optionee” is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the executors, the
administrators, or the person or persons to whom the Options may be transferred by will or by the laws of descent and distribution, the word “Optionee” shall be deemed to include such person or persons. 
  
 7. Non-Transferability. The Options are not transferable by the
Optionee otherwise than by will or the laws of descent and distribution and are exercisable during the Optionee’s lifetime only by him. No assignment or transfer of the Options, or of the rights represented thereby, whether voluntary or
involuntary, by operation of law or otherwise (except by will or the laws of descent and distribution), shall vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Options
shall terminate and become of no further effect. 
  
 8.
Rights as Stockholder. The Optionee or a transferee of the Options shall have no rights as a stockholder with respect to any share covered by the Options until he shall have become the holder of record of such share, and no adjustment
shall be made for dividends or distributions or other rights in respect of such share for which the record date is prior to the date upon which he shall become the holder of record thereof. 
  

 4 

 9. Recapitalizations, Reorganizations, etc. 
  
 A. The existence of the Options shall not affect in any way the right or
power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any
issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks ahead of or affecting the Stock or the rights thereof or convertible into or exchangeable for Stock, 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. The shares with respect to which the Options are granted are shares of Stock of the Company as presently constituted, but
if, and whenever, prior to the delivery by the Company of all of the shares of the Stock with respect to which the Options are granted, the Company shall effect a subdivision or consolidation of shares of the Stock outstanding, without receiving
compensation therefor in money, services or property, the number and price of shares remaining under the Options shall be appropriately adjusted. Such adjustment shall be made by the Committee, whose determination as to what adjustment shall be
made, and the extent thereof, shall be final, binding and conclusive. Any such adjustment may provide for the elimination of any fractional share which might otherwise become subject to the Options. 
  
 C. In the event of any change in the outstanding shares of Stock by reason of
any recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other corporate change, or any distributions to common shareholders other than cash dividends, the Committee shall make such substitution or adjustment, if
any, as it deems to be equitable, as to the number or kind or shares of Stock or other securities covered by the Options and the Option price thereof. The Committee shall notify the Optionee of any intended sale of all or substantially all of the
Company’s assets within a reasonable time prior to such sale. 
  
 D. Except as hereinbefore expressly provided, the issue by the Company of shares of stock of any class, or securities convertible into or exchangeable for shares of stock of any class, for cash or property, or for labor or services, either
upon direct sale or upon the exercise of options, rights or warrants to subscribe therefor, or to purchase the same, or upon conversion of shares or obligation of the Company convertible into such shares or other securities, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the number or price of shares of Stock subject to the Options. 
  

 5 

 10. Compliance with Law. Notwithstanding any of the provisions hereof, the Optionee hereby
agrees that he will not exercise the Options, and that the Company will not be obligated to issue or transfer any shares to the Optionee hereunder, if the exercise hereof or the issuance or transfer of such shares shall constitute a violation by the
Optionee or the Company of any provisions of any law or regulation of any governmental authority. Any determination in this connection by the Committee shall be final, binding and conclusive. The Company shall in no event be obliged to register any
securities pursuant to the Securities Act of 1933 (as now in effect or as hereafter amended) or to take any other affirmative action in order to cause the exercise of the Options or the issuance or transfer of shares pursuant thereto to comply with
any law or regulation of any governmental authority. 
  
 11.
Notice. Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by it in a
notice mailed or delivered to the other party as herein provided, provided that, unless and until some other address be so designated, all notices or communications by the Optionee to the Company shall be mailed or delivered to the Company at its
principal executive office, and all notices or communications by the Company to the Optionee may be given to the Optionee personally or may be mailed to him at the Optionee’s last known address, as reflected in the Company’s records.

  
 12. Non-Qualified Options. The Options granted
hereunder are not intended to be incentive stock options within the meaning of Section 422 of the Code. 
  
 13. Binding Effect. Subject to Section 7 hereof, this Agreement shall be binding upon the heirs, executors, administrators and successors of
the parties hereto. 
  
 14. Governing Law. This
Agreement shall be construed and interpreted in accordance with the internal laws of the State of Delaware, United States of America, without reference to the principles of conflicts of law thereof. The parties hereto agree that any action arising
out of or relating to this Agreement must be brought in the United States District Court of Delaware. Alternatively, provided only that the United States District Court for Delaware is deemed to lack subject-matter jurisdiction, the parties consent
and agree that any such matter provided for in this sub-paragraph shall be brought in Delaware State court. All parties hereto expressly agree and consent to the exclusive jurisdiction of the Delaware courts (i.e., Delaware Federal and Delaware
State Courts, respectively). 
  

 6 

 15. Plan. The terms and provisions of, and the defined terms used in, the Plan are
incorporated herein by reference. Unless a different meaning is expressly set forth herein, the defined terms used in this Agreement shall have the same meaning given to such terms in the Plan. In the event of a conflict or inconsistency between
discretionary terms and provisions of the Plan and the express provisions of this Agreement, this Agreement shall govern and control. In all other instances of conflicts or inconsistencies or omissions, the terms and provisions of the Plan shall
govern and control. 
  
 IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above written. 
  

			
	KNOLL, INC.
		
	 By:
	 	 
	 	 	 Andrew B. Cogan, CEO

		
	 By:
	 	 
	 	 	 Kathleen G. Bradley

	 	 	 President & CEO, Knoll (NA)

	
	OPTIONEE:
	
	 
	 John F. Maypole

  

 7 

  
 EXHIBIT A 

 
 Change in Control. For purposes of this Agreement, a “Change in Control”
shall be deemed to have occurred if: (i) any person (as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended from time to time (the “Exchange Act”), and as used in Sections 13(d) and 14(d) thereof, including any
“group” as defined in Section 13(d)(3) thereof (a “Person”), but excluding the Company, any majority owned subsidiary of the Company (a “Subsidiary”), Warburg, Pincus & Co. (“Warburg”) and any affiliate of
Warburg (other than a Warburg portfolio company), and any employee benefit plan sponsored or maintained by the Company or any Subsidiary (including any trustee of such plan acting as trustee), becomes the beneficial owner of shares of the Company
having at least 50% of the total number of votes that may be cast for the election of directors of the Company (the “Voting Shares”) provided, however, that such an event shall not constitute a Change in Control if the acquiring Person has
entered into an agreement with the Company approved by the Board which materially restricts the right of such Person to direct or influence the management or policies of the Company; (ii) the shareholders of the Company shall approve any merger of
other business combination of the Company, sale of the Company’s assets or combination of the foregoing transactions (a “Transaction”) other than a Transaction involving only the Company and one or more of its Subsidiaries, or a
Transaction immediately following which the shareholders of the Company immediately prior to the Transaction continue to have a majority of the voting power in the resulting entity; or (iii) within any 24-month period beginning on or after December
17, 2004, the persons who were members of the Board on or immediately before the beginning of such period (the “Incumbent Directors”) shall cease (for any reason other than death) to constitute at least a majority of members of the Board
or the board of directors of any successor to the Company, provided that any director who was not a director as of December 17, 2004 shall be deemed to be an Incumbent Director if such director was elected to the Board by, or on the recommendation
of or with the approval of, at least two-thirds of the directors who then qualified as Incumbent Directors either actually or by prior operation of this definition. Notwithstanding the foregoing, no Change in Control shall be deemed to have occurred
for purposes of this Agreement by reason of (i) any actions or events in which the Grantee participates in a capacity other than in his capacity as an employee of the Company or any Subsidiary, or (ii) any decrease in the share ownership of Warburg
and its affiliates, to the extent such decrease is attributable to such shareholders having distributed shares owned by them directly to one or more members of their investment group.

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