Document:

exv4w2

 

Exhibit 4.2

 

RANGE RESOURCES CORPORATION

As Issuer

RANGE RESOURCES—APPALACHIA, LLC

PINE MOUNTAIN ACQUISITION, INC.

RANGE RESOURCES—PINE MOUNTAIN, INC.

PMOG HOLDINGS, INC.

RANGE ENERGY I, INC.

RANGE HOLDCO, INC.

RANGE OPERATING TEXAS, L.L.C.

RANGE TEXAS PRODUCTION, L.L.C.

RANGE PRODUCTION COMPANY

RANGE OPERATING NEW MEXICO, INC.

REVC HOLDCO, LLC

STROUD ENERGY GP, LLC

STROUD ENERGY LP, LLC

STROUD ENERGY, LTD.

STROUD ENERGY MANAGEMENT GP, LLC

STROUD OIL PROPERTIES, LP

As Subsidiary Guarantors

71/2% SENIOR SUBORDINATED NOTES DUE 2017

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of September 28, 2007

 

THE BANK OF NEW YORK TRUST COMPANY, N.A.

As Trustee

 

 

 

 

     FIRST SUPPLEMENTAL INDENTURE, dated as of September 28, 2007 (this “Supplemental Indenture”),
among Range Resources Corporation, a Delaware corporation (the “Company”), as issuer, the
Subsidiary Guarantors named herein as guarantors and The Bank of New York Trust Company, N.A., as
trustee (the “Trustee”).

RECITALS

     WHEREAS, the Company has heretofore entered into an Indenture, dated as of September 28, 2007,
among the Company, the Subsidiary Guarantors party thereto and the Trustee (the “Original
Indenture,” as may be amended and supplemented in respect of provisions relating to the Notes
described herein, and as further supplemented by this Supplemental Indenture, the “Indenture”);

     WHEREAS, the Company desires to issue a class of Securities under the Indenture designated as
its 71/2% Senior Subordinated Notes due 2017 (the “Notes”), and has duly authorized the execution and
delivery of this Supplemental Indenture in connection therewith;

     WHEREAS, the Original Indenture provides for the issuance from time to time of Securities,
unlimited as to principal amount, to bear such rates of interest, to mature at such times and to
have such other provisions as shall be fixed in accordance with the provisions of the Original
Indenture, and the form and terms of such series may be described by a supplemental indenture
executed by the Company, the Subsidiary Guarantors and the Trustee;

     WHEREAS, the Indenture is subject to the provisions of the Trust Indenture Act of 1939, as
amended, that are required to be part of the Indenture and shall, to the extent applicable, be
governed by such provisions; and

     WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the
Company and the Subsidiary Guarantors, and a valid amendment and supplement to the Original
Indenture, have been done.

     NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Notes by the Holders thereof,
it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the
Notes, as follows:

1

 

ARTICLE ONE  

GENERAL

          SECTION 101.   Interpretation.

          For all purposes of this Supplemental Indenture and any Notes issued under the Indenture,
except as otherwise expressly provided or unless the context otherwise requires:

     (a) capitalized terms used herein without definition shall have the meanings specified
in the Original Indenture;

     (b) each reference to “Indenture” in this Supplemental Indenture shall mean the
provisions of the Original Indenture and future amendments and supplements to the Original
Indenture, including this Supplemental Indenture, applicable to the Notes;

     (c) all references in this Supplemental Indenture to Articles and Sections, unless
otherwise specified, refer to the corresponding Articles and Sections of this Supplemental
Indenture and, where so specified, to the Articles and Sections of the Original Indenture as
supplemented, amended or modified by this Supplemental Indenture;

     (d) all references in the Original Indenture to Articles and Sections in the Original
Indenture shall for purposes of the Notes be deemed references to the Articles and Sections
of the Original Indenture as supplemented, amended or modified by this Supplemental
Indenture;

     (e) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Supplemental Indenture as a whole and not to any particular Article, Section
or other subdivision;

     (f) the word “or” is not exclusive.

          SECTION 102.   Effect of Headings .

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

          SECTION 103.   Separability Clause.

          In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

2

 

          SECTION 104.   Priority of Supplemental Indenture.

          In the event any conflict arises between the terms of the Original Indenture and the terms of
this Supplemental Indenture, the terms of this Supplemental Indenture shall be
controlling and supersede such conflicting terms of the Original Indenture. Unless otherwise
specifically modified or amended hereby, the terms of the Original Indenture shall remain in full
force and effect with respect to the Notes.

          SECTION 105.   Counterparts.

          This Supplemental Indenture may be executed in any number of counterparts, each of which shall
be original; but such counterparts shall together constitute but one and the same instrument.

ARTICLE TWO  

FORM; TERMS

          SECTION 201.   Form of Note.

          The Notes shall be in substantially the form set forth in Exhibit A hereto, with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted
by the Indenture, and may have such letters, numbers or other marks of identification and such
legends or endorsements placed thereon as may be required to comply with applicable laws or the
rules of any Notes exchange or Depositary or as may, consistently with the Indenture, be determined
by the officers executing such Notes, as evidenced by their execution of the Notes. Each Note
shall be dated the date of its authentication.

          The Notes issued on the date of this Supplemental Indenture will be issued in the form of one
or more permanent Global Securities (each, a “Global Note”) deposited with the Trustee, as
custodian for the Depositary, duly executed by the Company, authenticated by the Trustee as
provided in the Indenture and bearing the DTC Legend. The Global Notes may be represented by more
than one certificate, if so required by the Depositary’s rules regarding the maximum principal
amount to be represented by a single certificate. The aggregate principal amount of the Global
Notes may from time to time be increased or decreased by adjustments made on the records of the
Trustee, as custodian for the Depositary or its nominee, as hereinafter provided.

          SECTION 202.   Title and Terms.

          The Notes are an issue of Securities under the Indenture, and shall be entitled to all the
benefits and limitations thereof, and shall be known and designated as the “71/2% Senior Subordinated
Notes due 2017” of the Company. The aggregate principal amount of Notes which may be authenticated
and delivered under this Supplemental Indenture shall be unlimited. The
Company is initially issuing $250,000,000 aggregate principal amount of Notes as of the date
hereof. This series of Notes may be reopened from time to time for the issuance of additional

3

 

Notes, subject to compliance with the Indenture. The Trustee shall authenticate and deliver Notes
upon the order of the Company signed by one Officer and delivered to the Trustee, which order shall
specify the amount of securities to be issued and the date of issuance thereof.

          The stated maturity of the Notes shall be October 1, 2017 and they shall bear interest as
provided in the form of Note (which is incorporated herein by reference) and in the Indenture.

          The principal of (and premium, if any) and interest on the Notes shall be payable at the
office or agency of the Company maintained for such purpose, as provided in Section 4.02 of the
Original Indenture; provided, however, that, at the option of the Company, interest may be paid on
Notes in definitive form by check mailed to addresses of the Persons entitled thereto as such
addresses shall appear on the Register.

          The Notes shall be redeemable as provided in the form of Note and in Article III of the
Original Indenture.

4

 

SIGNATURES

Dated as of

September 28, 2007

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	RANGE RESOURCES CORPORATION	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	PINE MOUNTAIN ACQUISITION, INC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	RANGE RESOURCES—PINE MOUNTAIN, INC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	PMOG HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	RANGE OPERATING TEXAS, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE RESOURCES CORPORATION, its Member	 	 
	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 

[Signature Page to Supplemental Indenture]

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	RANGE ENERGY I, INC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	RANGE HOLDCO, INC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	RANGE TEXAS PRODUCTION, L.LC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	RANGE PRODUCTION COMPANY	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	RANGE OPERATING NEW MEXICO, INC.	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 

[Signature Page to Supplemental Indenture]

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	RANGE RESOURCES—APPALACHIA, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE HOLDCO, INC, its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE ENERGY I, INC., its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	REVC HOLDCO, LLC	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 

[Signature Page to Supplemental Indenture]

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	STROUD ENERGY GP, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE OPERATING TEXAS, L.L.C., its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE RESOURCES CORPORATION, its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	STROUD ENERGY LP, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE OPERATING TEXAS, L.L.C., its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE RESOURCES CORPORATION, its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	 
	 	 	 	 	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 

[Signature Page to Supplemental Indenture]

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	STROUD ENERGY, LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	STROUD ENERGY MANAGEMENT GP, LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	STROUD OIL PROPERTIES, LP,	 	 
	 

	 	 	 	its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	STROUD ENERGY GP, LLC,	 	 
	 

	 	 	 	its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE OPERATING TEXAS, L.L.C., its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE RESOURCES CORPORATION, its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	STROUD ENERGY MANAGEMENT GP, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	STROUD OIL PROPERTIES, LP,	 	 
	 

	 	 	 	its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	STROUD ENERGY GP, LLC,	 	 
	 

	 	 	 	its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE OPERATING TEXAS, L.L.C., its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE RESOURCES CORPORATION, its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 

[Signature Page to Supplemental Indenture]

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	STROUD OIL PROPERTIES, LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	STROUD ENERGY GP, LLC,	 	 
	 

	 	 	 	its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE OPERATING TEXAS,	 	 
	 

	 	 	 	L.L.C., its Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	RANGE RESOURCES	 	 
	 

	 	 	 	CORPORATION, its Member	 	 
	 
	 	 	 	 	 	 
	Attest:

	 	By:
	 	/s/ Roger S. Manny	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger S. Manny	 	 
	/s/ David W. Amend

	 	Title:
	 	Senior Vice President and	 	 
	 

David W. Amend, Assistant Secretary

	 	 	 	Chief Financial Officer	 	 

[Signature Page to Supplemental Indenture]

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK TRUST COMPANY, N.A., as
Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Marcella Burgess	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Marcella Burgess	 	 
	 

	 	Title:
	 	Assistant Vice President	 	 

[Signature Page to Supplemental Indenture]

 

 

EXHIBIT A

[FACE OF NOTE]

RANGE RESOURCES CORPORATION

71/2% Senior Subordinated Note Due 2017

[CUSIP] [CINS] _______________

			
	 	 	 
	No.
	 	$                                    

     RANGE RESOURCES CORPORATION, a Delaware corporation (the “Company”, which term includes any
successor under the Indenture hereinafter referred to), for value received, promises to pay to
                    , or its registered assigns, the principal sum of                      DOLLARS
($___) [or such other amount as indicated on the Schedule of Exchange of Notes attached hereto]
on October 1, 2017.

     Interest Rate: 7.5% per annum.

     Interest Payment Dates: April 1 and October 1, commencing April 1, 2008.

     Regular Record Dates: March 15 and September 15.

     Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which will for all purposes have the same effect as if set forth at this place.

 

 

     IN WITNESS WHEREOF, the Company has caused this Note to be signed manually by its duly
authorized officer.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	Date:	 	RANGE RESOURCES CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

A-2 

 

(Form of Trustee’s Certificate of Authentication)

     This is one of the 71/2% Senior Subordinated Notes Due 2017 referred to in the Indenture
described herein.

	 	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK TRUST COMPANY, N.A.,

     as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Signatory
	 	 

Date of authentication:                                         

A-3

 

[REVERSE SIDE OF NOTE]

RANGE RESOURCES CORPORATION

     1. Indenture.

     This is one of the Securities issued under an Indenture dated as of September 28, 2007 (as
supplemented or amended from time to time, the “Indenture”), among the Company, the Subsidiary
Guarantors party thereto and The Bank of New York Trust Company, N.A., as Trustee, which Securities
have been designated by supplemental indenture thereto as the 71/2% Senior Subordinated Notes due
2017. Capitalized terms used herein are used as defined in the Indenture unless otherwise
indicated. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and
Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such
terms. To the extent permitted by applicable law, in the event of any inconsistency between the
terms of this Note and the terms of the Indenture, the terms of the Indenture will control.

     The Notes are general unsecured obligations of the Company. The Indenture provides for the
initial issuance of $250,000,000 principal amount of Notes, but additional Notes may be issued
pursuant to the Indenture, and the originally issued Notes and all such additional Notes vote
together for all purposes as a single class.

     2. Principal and Interest.

     The Company promises to pay the principal of this Note on October 1, 2017.

     The Company promises to pay interest on the principal amount of this Note on each interest
payment date, as set forth on the face of this Note, at the rate of 7.5% per annum. Interest will
be payable semiannually (to the holders of record of the Notes at the close of business on the
March 15 or September 15 immediately preceding the relevant interest payment date) on each interest
payment date, commencing April 1, 2008.

     Interest on this Note will accrue from the most recent date to which interest has been paid on
this Note (or, if there is no existing default in the payment of interest and if this Note is
authenticated between a regular record date and the next interest payment date, from such interest
payment date) or, if no interest has been paid on the Notes, from September 28, 2007. Interest
will be computed on the basis of a 360-day year of twelve 30-day months.

     The Company will pay interest on overdue principal, premium, if any, and, to the extent
lawful, interest at a rate per annum that is 1% in excess of 7.5%. Interest not paid when due and
any interest on principal, premium or interest not paid when due will be paid to the Persons that
are Holders on a special record date, which will be the close of business on the 15th day preceding
the date fixed by the Company for the payment of such interest, whether or not such day is a
Business Day. At least 15 days before a special record date, the Company will send to each Holder
and to the Trustee a notice that sets forth the special record date, the payment date and the
amount of interest to be paid.

A-4

 

     3. Optional Redemption.

     (a) Except as provided in paragraphs 3(b) and 3(c) below, the Notes are not redeemable at the
Company’s option prior to October 1, 2012. From and after October 1, 2012, the Notes will be
subject to redemption at the option of the Company, in whole or in part, upon not less than 30 nor
more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount)
set forth below plus accrued and unpaid interest thereon to the applicable redemption date, if
redeemed during the twelve-month period beginning on October 1 of the years indicated below:

	 	 	 	 	 
	Year	 	Percentage
	2012
	 	 	103.750	%
	2013
	 	 	102.500	%
	2014
	 	 	101.250	%
	2015 and thereafter
	 	 	100.000	%

     (b) Prior to October 1, 2010 the Company may, at its option, on any one or more occasions,
redeem up to 35% of the original aggregate principal amount of Notes at a redemption price equal to
107.5% of the principal amount thereof, plus accrued and unpaid interest, if any, thereon to the
redemption date, with the net proceeds of sales of public Equity Interests of the Company; provided
that at least 65% of the original aggregate principal amount of Notes remain outstanding
immediately after the occurrence of such redemption; and provided, further, that any such
redemption shall occur within 60 days after the date of the closing of the related sale of such
Equity Interests.

     (c) Prior to October 1, 2012, the Company may redeem all or, from time to time, any part of
the Notes upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to 100%
of the principal amount thereof plus the Make-Whole Premium plus accrued and unpaid interest, if
any, to the redemption date.

     “Make-Whole Premium” means, with respect to a Note at any redemption date, the excess of (A)
the present value at such time of (1) the redemption price, excluding accrued interest, of such
note at October 1, 2012, (as set forth in the table in paragraph 3(a) above) plus (2) all required
interest payments, excluding accrued interest, due on such Note through October 1, 2012, computed
using a discount rate equal to the Treasury Rate plus 50 basis points, over (B) the principal
amount of such Note.

     “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15 (519) which has become publicly available at least two Business
Days prior to the redemption date (or, if such Statistical Release is no longer published, any
publicly available source or similar market data)) most nearly equal to the period from the
redemption date to October 1, 2012; provided, however, that if the period from the redemption date
to October 1, 2012 is not equal to the constant maturity of a United States Treasury security for
which a weekly average yield is given, the Treasury Rate shall be obtained by linear

A-5

 

interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields
of United States Treasury securities for which such yields are given, except that if the period
from the redemption date to October 1, 2012 is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant maturity of one year shall
be used.

     If the optional redemption date is on or after an interest record date and on or before the
related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person
in whose name the Note is registered at the close of business on such record date, and no
additional interest will be payable to Holders whose Notes will be subject to redemption by the
Company.

     4. Mandatory Redemption.

     Except as set forth in paragraph 5 below, the Company shall not be required to make mandatory
redemption or sinking fund payments with respect to the Notes.

     5. Repurchase at Option of Holder.

     (a) Upon the occurrence of a Change of Control, each Holder of Notes shall have the right to
require the Company to repurchase all or any part (equal to $1,000 or an integral multiple thereof)
of such Holder’s Notes subject to and as provided in the Indenture.

     (b) If the Company or a Restricted Subsidiary consummates any Asset Sales permitted by the
Indenture, when the aggregate amount of Excess Proceeds exceeds $10.0 million, the Company shall
make an Asset Sale Offer to purchase the maximum principal amount of Notes and any other pari passu
Indebtedness to which the Asset Sale Offer applies that may be purchased out of the Excess
Proceeds, at an offer price in cash in an amount equal to, in the case of the Notes, 100% of the
principal amount thereof, plus accrued and unpaid interest thereon to the date of purchase or, in
the case of any pari passu Indebtedness, 100% of the principal amount thereof (or with respect to
discount pari passu Indebtedness, the accreted value thereof) on the date of purchase, in each
case, subject to and as provided in the Indenture.

     6. Notice of Redemption. Notice of redemption will be mailed at least 30 days but not more
than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its
registered address. Notes in denominations larger than $1,000 may be redeemed in part but only in
integral multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and
after the redemption date interest will cease to accrue on the aggregate principal amount of the
Notes called for redemption.

     7. Registered Form; Denominations; Transfer; Exchange.

     The Notes are in registered form without coupons in denominations of $1,000 principal amount
and any multiple of $1,000 in excess thereof. A Holder may register the transfer or exchange of
Notes in accordance with the Indenture. The Trustee may require a Holder to furnish appropriate
endorsements and transfer documents and to pay any taxes and fees required by law or permitted by
the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will
not be required to issue, register the transfer of or exchange any Note or certain portions of a
Note.

A-6

 

     8. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for
all purposes.

     9. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture or the Notes
may be amended or supplemented with the consent of the Holders of at least a majority in aggregate
principal amount of the Notes then outstanding (including, without limitation, consents obtained in
connection with a purchase of, or the tender offer or exchange offer for, such Notes), and any
existing Default or Event of Default under, or compliance with any provision of the Indenture or
the Notes may be waived with the consent of the Holders of a majority in principal amount of the
then outstanding Notes. Without the consent of any Holder of a Note, the Indenture or the Notes may
be amended on supplemented to, among other things, cure any ambiguity, defect or inconsistency, to
provide for uncertificated Notes in addition to or in place of certificated Notes, to provide for
the assumption of the Company’s obligations to Holders of the Notes in case of a merger or
consolidation, to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any
such Holder, or to comply with the requirements of the Commission in order to effect or maintain
the qualification of the Indenture under the Trust Indenture Act.

     10. Defaults and Remedies. The Indenture provides that if an Event of Default (other than
with respect to bankruptcy events) occurs and is continuing, the Trustee or the Holders of at least
25% in principal amount of the then outstanding Notes may declare all the Notes to be due and
payable immediately, and in the case of an Event of Default arising from certain events of
bankruptcy or insolvency with respect to the Company, any Significant Subsidiary or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary, all outstanding Notes
will become due and payable without further action or notice. Holders of the Notes may not enforce
the Indenture or the Notes except as provided in the Indenture.

     11. Subordination. The Notes are subordinated to Senior Debt of the Company as provided in the
Indenture. To the extent provided in the Indenture, Senior Debt must be paid before the Notes may
be paid. The Company agrees, and each Holder by accepting a Note agrees, that the Indebtedness
evidenced by the Notes, including, but not limited to, the payment of principal of, premium, if
any, and interest on the Notes, and any other payment Obligation of the Company in respect of the
Notes is subordinated in right of payment, to the extent and in the manner provided in the
Indenture, to the prior payment in full in cash of all Senior Debt of the Company (whether
outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed) and
authorizes the Trustee to give effect and appoints the Trustee as attorney-in-fact for such
purpose.

     12. Trustee Dealings with Company. The Indenture contains certain limitations on the rights of
the Trustee, should it become a creditor of the Company, to obtain payment of claims in certain
cases, or to realize on certain property received in respect of any such claim as security or
otherwise. The Trustee will be permitted to engage in other transactions; however, if it acquires
any conflicting interest it must eliminate such conflict within 90 days, apply to the Commission
for permission to continue or resign.

A-7

 

     13. No Recourse Against Others. No director, officer, employee, incorporator or stockholder of
the Company, as such, shall have any liability for any obligations of the Company under the Notes
or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Notes, by accepting a Note, waives and releases all such liability.
The waiver and release are part of the consideration for issuance of the Notes.

     14. Authentication.

     This Note is not valid until the Trustee (or Authenticating Agent) signs the certificate of
authentication on this Note.

     15. Governing Law.

     This Note shall be governed by, and construed in accordance with, the laws of the State of New
York.

     16. Abbreviations.

     Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM
(= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to
Minors Act).

     The Company will furnish a copy of the Indenture to any Holder upon written request and
without charge.

[NOTE: THE FORM OF GUARANTEE ATTACHED AS EXHIBIT B TO THE INDENTURE IS TO BE ATTACHED TO THIS
NOTE.]

A-8

 

[FORM OF TRANSFER NOTICE]

     FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s)
unto

	 
	Insert Taxpayer Identification No.

	 

	 

	 

	 

	 

	Please print or typewrite name and address including zip code of assignee

	 

	 

	 

	 

	the within Note and all rights thereunder, hereby irrevocably constituting and appointing

	 

	 

attorney to transfer said Note on the books of the Company with full power of substitution in the
premises.

Signature Guarantee:1

By:2                                                         
       

 

			
	1	 	Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements
include membership or participation in the Securities Transfer Association
Medallion Program (“STAMP”) or such other “signature guarantee program” as may
be determined by the Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Securities Exchange Act of 1934, as amended
	 
	2	 	To be executed by an executive officer

A-9

 

OPTION OF HOLDER TO ELECT PURCHASE

          If the Holder hereof wishes to have all of this Note purchased by the Company pursuant to
Section 4.10 of the Indenture (Asset Sales) or Section 4.13 of the Indenture (Offer to Repurchase
Notes Upon a Change of Control) of the Indenture, check the box: o

     If the Holder hereof wishes wish to have a portion of this Note purchased by the Company
pursuant to Section 4.10 of the Indenture (Asset Sales) or Section 4.13 of the Indenture (Offer to
Repurchase Notes Upon a Change of Control) of the Indenture, state the amount (in original
principal amount) below:

               $                                        .

Date:                    

Your Signature:                                        

(Sign exactly as your name appears on the other side of this Note)

Signature Guarantee:1                                                        
    

 

			
	1	 	Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Trustee, which requirements
include membership or participation in the Securities Transfer Association
Medallion Program (“STAMP”) or such other “signature guarantee program” as may
be determined by the Trustee in addition to, or in substitution for, STAMP, all
in accordance with the Securities Exchange Act of 1934, as amended.

A-10

 

SCHEDULE OF EXCHANGES OF NOTES1

The following exchanges of interests in this Global Note for Certificated Notes or interests in
another Global Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal amount of	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	this Global Note	 	 	 	 
	 	 	Amount of decrease	 	 	Amount of increase	 	 	following such	 	 	Signature of	 
	 	 	in principal amount	 	 	in principal amount	 	 	decrease (or	 	 	authorized officer of	 
	Date of Exchange	 	of this Global Note	 	 	of this Global Note	 	 	increase)	 	 	Trustee	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	1	 	For Global Notes

A-11exv10w1

 

Exhibit 10.1

AMENDED AND RESTATED

CHANGE IN CONTROL AND NONCOMPETITION AGREEMENT

          THIS AMENDED AND RESTATED CHANGE IN CONTROL AND NONCOMPETITION AGREEMENT (the “Agreement”) is
dated as of                      , between AMB Property, L.P., a Delaware limited partnership (the
“Company”), and                      (the “Executive”). This Agreement supersedes in its entirety that
certain Amended and Restated Change in Control and Noncompetition Agreement entered into between
the Company and the Executive as of                      .

     1. TERM OF AGREEMENT

          This Agreement shall commence on the date hereof and will terminate on November 26, 2008;
provided, however, that commencing on November 26, 2008, and each November 26 thereafter, the term
of this Agreement shall be automatically extended for one additional year unless, not later than
ninety (90) days prior to the date such automatic extension would otherwise occur, the Company
shall have given notice that it does not wish to extend this Agreement; provided, further, that if
a Change in Control (as defined in Section 2) occurs during the original or extended term of this
Agreement, this Agreement shall continue in effect until the later of November 26, 2008 and
twenty-four (24) months after the date on which such Change in Control occurred (the “Change in
Control Date”).

     2. DEFINITIONS

          For purposes of this Agreement, the following terms shall have the following meanings:

          “Cause” shall mean:

     (a) gross negligence or willful misconduct in the performance of the
Executive’s duties;

     (b) the Executive’s willful and continued failure to substantially perform the
Executive’s duties with the Company (other than a failure resulting from the
Executive’s incapacity due to physical or mental illness or any failure after the
Executive’s issuance of a Notice of Termination (as defined in Section 3.6)), after
a written demand for substantial performance is delivered to the Executive by the
Board of Directors (the “Board”) of AMB Property Corporation, a Maryland corporation
(the “General Partner”);

     (c) fraud or other conduct against the material best interests of the Company;
or

     (d) a conviction of a felony if such conviction has a material adverse effect
on the Company.

 

 

          A “Change in Control” shall be deemed to occur upon any of the following events:

     (a) the complete liquidation of the General Partner or the sale or disposition
by the General Partner of all or substantially all of the General Partner’s assets,
or the disposition by the General Partner of more than fifty percent (50%) of its
interest in the Company;

     (b) any Person (as defined below) is or becomes the Beneficial Owner (as
defined below), directly or indirectly, of securities of the General Partner
representing fifty percent (50%) or more of the combined voting power of the General
Partner’s then outstanding securities. For purposes of this Agreement, (A) the term
“Person” is used as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”); provided, however, that the
term shall not include the General Partner, any trustee or other fiduciary holding
securities under an employee benefit plan of the General Partner, and any
corporation owned, directly or indirectly, by the shareholders of the General
Partner, in substantially the same proportions as their ownership of stock of the
General Partner, and (B) the term “Beneficial Owner” shall have the meaning given to
such term in Rule 13d-3 under the Exchange Act;

     (c) during any period of twelve (12) consecutive months (not including any
period prior to the execution of this Agreement), individuals who at the beginning
of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with the General Partner to
effect a transaction described in clauses (a), (b) or (d)) whose election by the
Board or nomination for election by the General Partner’s shareholders was approved
by a vote of at least two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of the period or whose election or nomination
for election was previously so approved, cease for any reason to constitute at least
a majority thereof; or

     (d) the consummation of a merger or consolidation of the General Partner with
any other corporation (or other entity); provided, that, a Change in Control shall
not be deemed to occur (i) as the result of a merger or consolidation which would
result in the voting securities of the General Partner outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity) more than fifty percent
(50%) of the combined voting power of the voting securities of the General Partner
or such surviving entity outstanding immediately after such merger or consolidation
or (ii) where more than fifty percent (50%) of the directors of the General Partner or the surviving entity after such merger
or consolidation were directors of the General Partner immediately before such
merger or consolidation.

2

 

“Date of Termination” shall mean:

     (a) if the Executive’s employment is terminated by his death, the date of his
death;

     (b) if the Executive’s employment is terminated by reason of his Disability,
the date of the opinion of the physician referred to in the definition of
“Disability” hereof; or

     (c) if the Executive’s employment is terminated by the Company or by the
Executive for any reason other than death or Disability, the date specified in the
Notice of Termination;

provided, that, if within fifteen (15) days after any Notice of Termination (as defined in Section
3.6) is given, the party receiving such Notice of Termination notifies the other party that a
dispute exists concerning the termination, then the Date of Termination shall be the date on which
the dispute is finally resolved, either by mutual written agreement of the parties, or otherwise;
provided, however, that the Date of Termination shall be extended by a notice of dispute only if
such notice is given in good faith and the party giving such notice pursues the resolution of such
dispute with reasonable diligence.

          “Disability” shall mean the Executive’s physical or mental disability or infirmity which, in
the opinion of a competent physician selected by the Board, renders the Executive unable to perform
properly his duties as an employee of the Company, and as a result, the Executive is unable to
perform such duties for six (6) consecutive calendar months or for shorter periods aggregating one
hundred and eighty (180) business days in any twelve (12) month period, but only to the extent that
such definition does not violate the Americans with Disabilities Act.

          “Good Reason” shall mean, without the Executive’s express written consent, the occurrence
after a Change in Control of any of the following circumstances unless such circumstances are fully
corrected as specified in the Notice of Termination in accordance with the terms and conditions in
this Agreement (each, a “Good Reason Condition”):

     (a) the assignment to the Executive of any duties inconsistent with the position in the
Company that the Executive held immediately prior to the Change in Control Date that results
in a material diminution in the Executive’s authority, duties or responsibilities, a
significant adverse alteration in the nature or status of the Executive’s responsibilities
or the conditions of the Executive’s employment from those in effect immediately prior to
the Change in Control Date that results in a material diminution in the Executive’s
authority, duties or responsibilities, or any other action by the Company that results in a
material diminution in the Executive’s position, authority, duties or responsibilities from
those in effect immediately prior to the Change in Control Date;

     (b) a material reduction in the Executive’s annual base compensation as in effect on
the Change in Control Date;

3

 

     (c) (i) the relocation of the Company’s offices at which the Executive is principally
employed immediately prior to the Change in Control Date (the “Principal Location”) to a
location more than fifty (50) miles from such location or (ii) the Company’s requiring the
Executive, without the Executive’s written consent, to be based anywhere other than the
Principal Location, except for required travel on the Company’s business to an extent
substantially consistent with the Executive’s business travel obligations prior to the
Change in Control Date; provided, however, that with respect to (ii), such change
constitutes a material change in geographic location;

     (d) the Company’s failure to pay to the Executive any portion of the Executive’s
compensation or to pay to the Executive any portion of an installment of deferred
compensation under any deferred compensation program of the Company within seven (7) days of
the date such compensation is due;

     (e) the Company’s failure to continue in effect any material compensation or benefit
plan or practice in which the Executive is eligible to participate in on the Change in
Control Date (other than any equity based plan), unless an equitable arrangement (embodied
in an ongoing substitute or alternative plan) has been made with respect to such plan, or
the Company’s failure to continue the Executive’s participation therein (or in such
substitute or alternative plan) on a basis not materially less favorable, both in terms of
the amount of benefits provided and the level of the Executive’s participation relative to
other participants, as existed at the time of the Change in Control Date;

     (f) a material diminution in the authority, duties or responsibilities of the
supervisor to whom the Executive is required to report, including, if applicable, a
requirement that the Executive report to a corporate officer or employee instead of
reporting directly to the Board of Directors;

     (g) a material diminution in the budget over which the Executive retains authority; or

     (h) any other action or inaction that constitutes a material breach by the Company of
this Agreement.

provided, however, that the Executive’s continued employment shall not constitute consent to, or a
waiver of rights with respect to, any circumstance constituting Good Reason hereunder.

     3. COMPENSATION UPON TERMINATION

          3.1. Death.

               Whether or not there is a Change in Control, if the Executive’s employment shall be terminated
due to the Executive’s death, the Company shall pay monthly to the Executive’s estate for a period
equal to one (1) year following the Date of Termination an
amount equal to the sum of: (i) one-twelfth of the Executive’s annual base compensation as in
effect on the Date of Termination plus (ii) one-twelfth of any bonus at the most recent annual
amount received, or entitled to be received, by the Executive for the most recent annual period.

4

 

At the Executive’s estate’s expense, the Executive’s spouse and children shall also be entitled to
any continuation of health insurance coverage rights under any applicable law.

          3.2. Disability.

               Whether or not there is a Change in Control, if the Executive’s employment shall be terminated
by reason of Disability, the Company shall pay to the Executive a single payment in an amount equal
to the sum of: (i) the Executive’s annual base compensation as in effect on the Date of Termination
plus (ii) an amount equal to the annual bonus received, or entitled to be received, by the
Executive for the most recent annual period. Such payment shall be in addition to any disability
insurance payments to which the Executive is otherwise entitled. At the Executive’s own expense,
the Executive and the Executive’s spouse and children shall also be entitled to any continuation of
health insurance coverage rights under any applicable law.

          3.3. Termination Upon Change in Control.

               If during the term or extended term of this Agreement and within two (2) years following a
Change in Control, the Executive’s employment with the Company is terminated, in addition to his
base compensation and any bonus then payable through the Date of Termination and, at the
Executive’s own expense, any continuation of health insurance coverage rights under any applicable
law, the Executive shall be entitled to the benefits provided below, unless such termination is (i)
because of the Executive’s death, Disability or retirement, (ii) by the Company for Cause or (iii)
by the Executive other than for Good Reason; provided, however, that in the event the Executive’s
employment is terminated for any reason and subsequently a Change in Control occurs, the Executive
shall not be entitled to any benefits hereunder, other than pursuant to Sections 3.1 and 3.2:

               (a) the Company shall pay to the Executive, when due, the Executive’s base compensation and
any bonus then payable through the Date of Termination;

               (b) in lieu of any further salary payments to the Executive for periods subsequent to the Date
of Termination, the Company shall pay as severance pay to the Executive a lump sum payment in cash
within 30 days of the Date of Termination equal to the sum of the following:

                    (i) two (2) times the Executive’s annual base compensation as in effect as of the Date of
Termination or immediately prior to the Change in Control Date, whichever is greater; and

                    (ii) two (2) times the average of the annual bonus payments received, or entitled to be
received, by the Executive for the three (3) most recent annual periods; provided, however, that if
the Executive has been employed by the Company as an executive officer for less than three (3)
years, then he or she shall be paid two (2) times the average of the
annual bonus payments received, or entitled to be received, by the Executive for all prior
annual periods that the Executive was employed by the Company as an executive officer (annualizing
any prorated bonus for a partial first year);

5

 

               (c) if the Executive elects to receive continued healthcare coverage pursuant to the
provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”),
then until the earlier of (i) twenty-four (24) months following such termination and (ii) the
expiration of the Executive’s applicable COBRA continuation coverage period (the “Coverage
Period”), the Company shall reimburse the COBRA premiums paid by Executive for the Executive and
the Executive’s covered dependents. During the Coverage Period, the Company shall also provide the
Executive and the Executive’s eligible family members with life insurance at least equal to those
which would have been provided to the Executive and such family members if the Executive’s
employment had not been terminated or, if more favorable to the Executive, as in effect generally
at any time thereafter; and

               (d) the Company shall pay to the Executive a lump sum payment in cash, within thirty (30) days
of the Date of Termination, an amount equal to two (2) times the matching or profit contributions,
if any, to which the Executive would be entitled in respect of the amount equal to the applicable
maximum limitation for Executive under Sections 402(g) and 414(v) of the Internal Revenue Code of
1986, as amended (the “Code”) for the year in which Executive’s termination of employment occurred
under the Company’s 401(k) plan (the “401(k) Plan”) had such amounts actually been deferred by the
Executive under the 401(k) Plan during the twenty-four (24) month period following the Executive’s
termination of employment, as determined under the 401(k) Plan’s terms in effect as of the Date of
Termination.

          3.4. Certain Additional Payments by the Company.

               (a) Anything in this Agreement to the contrary notwithstanding and except as set forth below,
in the event it shall be determined that any Payment would be subject to the Excise Tax, then the
Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount
such that after payment by the Executive of all taxes (including any interest or penalties imposed
with respect to such taxes), including, without limitation, any income taxes (and any interest and
penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the
Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payments.

               (b) Subject to the provisions of Section 3.4(c), all determinations required to be made under
this Section 3.4, including whether and when a Gross-Up Payment is required and the amount of such
Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be
made by the nationally recognized certified public accounting firm used by the Company immediately
prior to the Change in Control or, if such firm declines to serve, such other nationally recognized
certified public accounting firm as may be designated by the Executive (the “Accounting Firm”)
which shall provide detailed supporting calculations both to the Company and the Executive within
15 business days of the receipt of notice from the Executive that there has been a Payment, or such
earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be
borne solely by the
Company. Subject to Section 3.4(e) below, any Gross-Up Payment, as determined pursuant to
this Section 3.4, shall be paid by the Company to the Executive within five days of the receipt of
the Accounting Firm’s determination (and in any event, such Gross-up Payment shall be paid to the
Executive by the end of the calendar year next following the calendar year in which the Executive
or the Company remits the Excise Tax). Any determination by the Accounting Firm

6

 

shall be binding
upon the Company and the Executive. For purposes of making the calculations required by this
Section 3.4, the Accounting Firm may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good-faith interpretations concerning the application
of Sections 280G and 4999 of the Code. As a result of the uncertainty in the application of
Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder,
it is possible that Gross-Up Payments which will not have been made by the Company should have been
made (“Underpayment”), consistent with the calculations required to be made hereunder. In the
event that the Company exhausts its remedies pursuant to Section 3.4(c) and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the
amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by
the Company to or for the benefit of the Executive.

               (c) The Executive shall notify the Company in writing of any claim by the Internal Revenue
Service that, if successful, would require the payment by the Company of the Gross-Up Payment.
Such notification shall be given as soon as practicable but no later than ten business days after
the Executive is informed in writing of such claim and shall apprise the Company of the nature of
such claim and the date on which such claim is requested to be paid. The Executive shall not pay
such claim prior to the expiration of the 30-day period following the date on which it gives such
notice to the Company (or such shorter period ending on the date that any payment of taxes with
respect to such claim is due). If the Company notifies the Executive in writing prior to the
expiration of such period that it desires to contest such claim, the Executive shall:

                    (i) give the Company any information reasonably requested by the Company relating to such
claim;

                    (ii) take such action in connection with contesting such claim as the Company shall reasonably
request in writing from time to time, including, without limitation, accepting legal representation
with respect to such claim by an attorney reasonably selected by the Company;

                    (iii) cooperate with the Company in good faith in order effectively to contest such claim; and

                    (iv) permit the Company to participate in any proceedings relating to such claim;

provided, however, that the Company shall bear and pay directly all costs and expenses (including
additional interest and penalties) incurred in connection with such contest and shall indemnify and
hold the Executive harmless, on an after-tax basis, for any Excise Tax or income
tax (including interest and penalties with respect thereto) imposed as a result of such
representation and payment of costs and expenses. Without limitation on the foregoing provisions
of this Section 3.4(c), the Company shall control all proceedings taken in connection with such
contest and, at its sole option, may pursue or forgo any and all administrative appeals,
proceedings, hearings and conferences with the taxing authority in respect of such claim and may,
at its sole option, either direct the Executive to pay the tax claimed and sue for a refund or

7

 

contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to
a determination before any administrative tribunal, in a court of initial jurisdiction and in one
or more appellate courts, as the Company shall determine; provided, however, that if the Company
directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount
of such payment to the Executive, on an interest-free basis and shall indemnify and hold the
Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or
penalties with respect thereto) imposed with respect to such advance or with respect to any imputed
income with respect to such advance; and further provided that any extension of the statute of
limitations relating to payment of taxes for the taxable year of the Executive with respect to
which such contested amount is claimed to be due is limited solely to such contested amount.
Furthermore, the Company’s control of the contest shall be limited to issues with respect to which
a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or
contest, as the case may be, any other issue raised by the Internal Revenue Service or any other
taxing authority.

               (d) If, after the receipt by the Executive of an amount advanced by the Company pursuant to
Section 3.4(c), the Executive becomes entitled to receive any refund with respect to such claim,
the Executive shall (subject to the Company’s complying with the requirements of Section 3.4(c))
promptly pay to the Company the amount of such refund (together with any interest paid or credited
thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount
advanced by the Company pursuant to Section 3.4(c), a determination is made that the Executive
shall not be entitled to any refund with respect to such claim and the Company does not notify the
Executive in writing of its intent to contest such denial of refund prior to the expiration of 30
days after such determination, then such advance shall be forgiven and shall not be required to be
repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up
Payment required to be paid.

               (e) Notwithstanding any other provision of this Section 3.4, the Company may withhold and pay
over to the Internal Revenue Service for the benefit of the Executive all or any portion of the
Gross-Up Payment that it determines in good faith that it is or may be in the future required to
withhold, and the Executive hereby consents to such withholding.

               (f) Definitions. The following terms shall have the following meanings for purposes
of this Section 3.4.

                    (i) “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, together with
any interest or penalties imposed with respect to such excise tax.

                    (ii) A “Payment” shall mean any payment, benefit or distribution in the nature of compensation
(within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Executive,
whether paid or payable pursuant to this Agreement or otherwise.

          3.5. Accelerated Vesting of Options and other Equity-Based Awards upon a Change in
Control. Notwithstanding anything to the contrary set forth in any stock, option or other
equity incentive award plan of the Company or in any option, restricted stock or other

8

 

equity-based award agreement between the Company and the Executive (regardless of whether such
agreement is under any such stock, option or other equity incentive award plan), upon a Change in
Control (or at such other time prior to a Change in Control as may be determined by the Board in
its discretion), all options to acquire any equity securities of the Company held by the Executive
shall immediately become exercisable and fully vested and all shares of restricted stock,
restricted stock units, deferred stock awards and other awards based upon the Company’s equity
securities held by the Executive shall immediately become fully vested, exercisable or payable, as
applicable, and any forfeiture provisions with respect to such awards shall immediately lapse. If
the vesting of an award has been accelerated pursuant to this Section 3.5 expressly in anticipation
of a Change in Control and the Board later determines that the Change in Control will not be
consummated, the Board may rescind the effect of the acceleration as to any accelerated awards.

          3.6 Notice. Any termination of the Executive’s employment by the Company or the
Executive shall be communicated by written notice of termination to the other party (the “Notice of
Termination”). The Notice of Termination shall indicate the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Executive’s employment under the provision so indicated.
In order to resign for Good Reason, the Executive must provide written notice to the Company of the
existence of the Good Reason Condition within 90 days of the initial existence of such Good Reason
Condition. Upon receipt of such notice of the Good Reason Condition, the Company will have a
period of 30 days during which it may remedy the Good Reason Condition and not be required to
provide for the payments and benefits described herein as a result of such proposed resignation due
to the Good Reason Condition specified in the Notice of Termination. If the Good Reason Condition
is not remedied within such 30-day period, the Executive may resign for Good Reason based on the
Good Reason Condition specified in the Notice of Termination, provided that such resignation must
occur within six months after the initial existence of such Good Reason Condition.

          3.7 Termination Obligations.

               (a) The Executive hereby acknowledges and agrees that all Personal Property and equipment
furnished to or prepared by the Executive in the course of or incident to his employment, belongs
to the Company and shall be promptly returned to the Company upon termination of the Executive’s
employment. “Personal Property” includes, without limitation, all electronic devices of the
Company used by the Executive, including, without limitation, personal computers, facsimile
machines, cellular telephones, PDAs, pagers and tape recorders and all books, manuals, records,
reports, notes, contracts, lists, blueprints, maps and other documents, or
materials, or copies thereof (including computer files), and all other proprietary information
relating to the business of the Company. Following termination, the Executive will not retain any
written or other tangible material containing any proprietary information of the Company.

               (b) The Executive’s obligations under this Section 3.7 and Section 4 hereof shall survive
termination of the Executive’s employment and the expiration of this Agreement.

9

 

               (c) Upon termination of the Executive’s employment, the Executive will be deemed to have
resigned from all offices and directorships then held with the Company or any affiliate.

          3.8. No Duty to Mitigate. The Executive shall not be required to mitigate the amount
of any payment provided for herein by seeking other employment or otherwise, nor shall the amount
of any payment or benefit provided for herein be reduced by any compensation earned by the
Executive as the result of employment by another employer.

          3.9. Compensation Covenant. After a Change in Control event (or in anticipation of a
Change in Control event), the Company shall not discontinue any material compensation or benefit
plan or practice in which the Executive is eligible to participate in on the Change in Control Date
(other than any equity based plan), unless an equitable arrangement (embodied in an ongoing
substitute or alternative plan) has been made with respect to such plan, and the Company shall not
discontinue the Executive’s participation therein (or in such substitute or alternative plan) on a
basis not materially less favorable, both in terms of the amount of benefits provided and the level
of the Executive’s participation relative to other participants as existed at the time of the
Change in Control Date.

     4. CONFIDENTIALITY, NONCOMPETITION AND NONSOLICITATION COVENANTS

          4.1. Confidentiality. In consideration of and in connection with the benefits
provided to the Executive under this Agreement, the Executive hereby agrees that the Executive will
not, during the Executive’s employment or at any time thereafter directly or indirectly disclose or
make available to any person, firm, corporation, association or other entity for any reason or
purpose whatsoever, any Confidential Information (as defined below). The Executive agrees that,
upon termination of his employment with the Company, all Confidential Information in his possession
that is in written or other tangible form (together with all copies or duplicates thereof,
including computer files) shall be returned to the Company and shall not be retained by the
Executive or furnished to any third party, in any form except as provided herein; provided,
however, that the Executive shall not be obligated to treat as confidential, or return to the
Company copies of any Confidential Information that (i) was publicly known at the time of
disclosure to the Executive, (ii) becomes publicly known or available thereafter other than by any
means in violation of this Agreement or any other duty owed to the Company by the Executive, or
(iii) is lawfully disclosed to the Executive by a third party. As used in this Agreement the term
“Confidential Information” means information disclosed to the Executive or known by the Executive
as a consequence of or through his relationship with the Company,
about the owners, tenants, employees, consultants, vendors, business methods, public relations
methods, organization, procedures, property acquisition and development, or finances, including,
without limitation, information of or relating to owner or tenant lists of the Company and its
affiliates.

          4.2. Noncompetition. During the term of the Executive’s employment, the Executive
shall not engage in any activities, directly or indirectly, in respect of commercial real estate,
and will not make any investment in respect of industrial real estate, other than through

10

 

ownership
of not more than five percent (5%) of the outstanding shares of a public company engaged in such
activities and through investments listed on Schedule I hereto.

          4.3. Nonsolicitation. In consideration of and in connection with the benefits provided
to the Executive under this Agreement, for a period of two (2) years following the Date of
Termination, the Executive shall not solicit or induce any of the Company’s or its affiliates’
employees, agents or independent contractors to end their relationship with the Company or its
affiliates, or recruit, hire or otherwise induce any such person to perform services for the
Executive, or any other person, firm or company.

     5. GENERAL PROVISIONS

          5.1. Successors; Binding Agreement

               (a) The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of the
Company to expressly assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession had taken place.
Failure of the Company to obtain such assumption and agreement prior to the effectiveness of any
such succession shall be a breach of this Agreement and shall entitle the Executive to receive
compensation from the Company in the same amount and on the same terms to which the Executive would
be entitled hereunder if the Executive terminated the Executive’s employment for Good Reason
following a Change in Control, except that for purposes of implementing the foregoing, the date on
which any such succession becomes effective shall be deemed the Date of Termination. Unless
expressly provided otherwise, “Company” as used herein shall mean the Company as defined in this
Agreement and any successor to its business and/or assets as aforesaid.

               (b) This Agreement shall inure to the benefit of and be enforceable by the Executive and the
Executive’s personal or legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees. If the Executive should die while any amount would still be
payable to the Executive hereunder had the Executive continued to live, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the
Executive’s devisee, legatee or other designee or, if there is no such designee, to the Executive’s
estate.

          5.2. Injunctive Relief and Enforcement. The Executive acknowledges that the remedies
at law for any breach by him of the provisions of Sections 3.7 or 4 hereof may be inadequate and
that, therefore, in the event of breach by the Executive of the terms of Sections
3.7 or 4 hereof, the Company shall be entitled to institute legal proceedings to enforce the
specific performance of this Agreement by the Executive and to enjoin the Executive from any
further violation of Sections 3.7 or 4 hereof and to exercise such remedies cumulatively or in
conjunction with all other rights and remedies provided by law and not otherwise limited by this
Agreement.

          5.3. No Contract of Employment. The Executive acknowledges that the Executive’s
employment with the Company is at will. This Agreement shall not confer upon the

11

 

Executive any
right of continued or future employment by the Company or any right to compensation or benefits
from the Company except the rights specifically stated herein, and shall not limit the right of the
Company to terminate the Executive’s employment at any time with or without cause.

          5.4. Notice. For the purposes of this Agreement, notices, demands and all other
communications provided for in this Agreement shall be in writing and shall be deemed to have been
duly given when addressed as follows and (i) when personally delivered, (ii) when transmitted by
telecopy, electronic or digital transmission with receipt confirmed, (iii) one day after delivery
to an overnight air courier guaranteeing next day delivery, or (iv) upon receipt if sent by
certified or registered mail. In each case notice shall be sent to:

	 	 	 	 	 
	 

	 	If to Executive:
	 	[Name]
	 

	 	 	 	AMB Property Corporation
	 

	 	 	 	[Address]
	 

	 	 	 	[Address]
	 

	 	 	 	Facsimile:
	 
	 	 	 	 
	 

	 	If to the Company:
	 	AMB Property Corporation
	 

	 	 	 	Pier 1, Bay 1
	 

	 	 	 	San Francisco, CA 94111
	 

	 	 	 	Attention: General Counsel
	 

	 	 	 	Facsimile: (415) 394-9001

or to such other address as any party may have furnished to the other in writing in accordance
herewith, except that notices of change of address shall be effective only upon receipt.

          5.5. Severability. The invalidity or unenforceability of any provision or provisions
of this Agreement shall not affect the validity or enforceability of any other provision of this
Agreement, which shall remain in full force and effect. In addition, in the event any provision in
this Agreement shall be determined by any court of competent jurisdiction to be unenforceable by
reason of extending for too great a period of time or over too great a geographical area or by
reason of being too extensive in any other respect, each such agreement shall be interpreted to
extend over the maximum period of time for which it may be enforceable and to the maximum extent in
all other respects as to which it may be enforceable, and enforced as so interpreted, all as
determined by such court in such action.

          5.6. Assignment. This Agreement may not be assigned by the Executive, but may be
assigned by the Company to any successor to its business and will inure to the benefit and be
binding upon any such successor.

          5.7. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together will constitute one and the same
instrument.

12

 

          5.8. Headings. The headings contained herein are for reference purposes only and
shall not in any way affect the meaning or interpretation of this Agreement.

          5.9. Choice of Law. This Agreement shall be construed, interpreted and enforced in
accordance with the laws of the State of California without giving effect to the principles of
conflict of laws thereof.

          5.10. Indemnification. To the fullest extent permitted under applicable law, the
Company shall indemnify, defend and hold the Executive harmless from and against any and all causes
of action, claims, demands, liabilities, damages, costs and expenses of any nature whatsoever
(collectively, “Damages”) directly or indirectly arising out of or relating to the Executive
discharging the Executive’s duties on behalf of the Company and/or its respective subsidiaries and
affiliates, so long as the Executive acted in good faith within the course and scope of the
Executive’s duties with respect to the matter giving rise to the claim or Damages for which the
Executive seeks indemnification.

          5.11. LIMITATION ON LIABILITIES. IF EITHER THE EXECUTIVE OR THE COMPANY IS AWARDED
ANY DAMAGES AS COMPENSATION FOR ANY BREACH OR ACTION RELATED TO THIS AGREEMENT, A BREACH OF ANY
COVENANT CONTAINED IN THIS AGREEMENT (WHETHER EXPRESS OR IMPLIED BY EITHER LAW OR FACT), OR ANY
OTHER CAUSE OF ACTION BASED IN WHOLE OR IN PART ON ANY BREACH OF ANY PROVISION OF THIS AGREEMENT,
SUCH DAMAGES SHALL BE LIMITED TO CONTRACTUAL DAMAGES AND SHALL EXCLUDE (I) PUNITIVE DAMAGES, AND
(II) CONSEQUENTIAL AND/OR INCIDENTAL DAMAGES (E.G., LOST PROFITS AND OTHER INDIRECT OR
SPECULATIVE DAMAGES). THE MAXIMUM AMOUNT OF DAMAGES THAT THE EXECUTIVE MAY RECOVER FOR ANY REASON
SHALL BE THE AMOUNT EQUAL TO ALL AMOUNTS OWED (BUT NOT YET PAID) TO THE EXECUTIVE PURSUANT TO THIS
AGREEMENT THROUGH ITS TERM AND THROUGH ANY APPLICABLE SEVERANCE PERIOD, PLUS INTEREST ON ANY
DELAYED PAYMENT AT THE MAXIMUM RATE PER ANNUM ALLOWABLE BY APPLICABLE LAW FROM AND AFTER THE
DATE(S) THAT SUCH PAYMENTS WERE DUE.

          5.12. DISPUTE RESOLUTION. TO ENSURE THE TIMELY AND ECONOMICAL RESOLUTION OF DISPUTES
THAT ARISE IN CONNECTION WITH THIS AGREEMENT THE COMPANY AND EXECUTIVE AGREE THAT ANY AND ALL
DISPUTES, CLAIMS, OR CAUSES OF ACTION ARISING FROM OR RELATING TO THE ENFORCEMENT, BREACH,
PERFORMANCE OR INTERPRETATION OF THIS AGREEMENT SHALL BE RESOLVED TO THE FULLEST EXTENT PERMITTED
BY LAW BY FINAL, BINDING AND CONFIDENTIAL ARBITRATION, BY A SINGLE ARBITRATOR, IN SAN
FRANCISCO COUNTY, CALIFORNIA, CONDUCTED BY AMERICAN ARBITRATION ASSOCIATION (“AAA”) UNDER THE
APPLICABLE AAA EMPLOYMENT RULES. BY AGREEING TO THIS ARBITRATION PROCEDURE, BOTH EXECUTIVE AND THE
COMPANY WAIVE THE RIGHT TO RESOLVE ANY SUCH DISPUTE THROUGH A TRIAL BY JURY OR JUDGE OR
ADMINISTRATIVE PROCEEDING. THE ARBITRATOR SHALL: (A) HAVE THE AUTHORITY TO COMPEL ADEQUATE
DISCOVERY FOR THE RESOLUTION OF THE DISPUTE AND TO AWARD

13

 

SUCH RELIEF AS WOULD OTHERWISE BE
PERMITTED BY LAW; AND (B) ISSUE A WRITTEN ARBITRATION DECISION, TO INCLUDE THE ARBITRATOR’S
ESSENTIAL FINDINGS AND CONCLUSIONS AND A STATEMENT OF THE AWARD. THE ARBITRATOR SHALL BE
AUTHORIZED TO AWARD ANY OR ALL REMEDIES THAT EXECUTIVE OR THE COMPANY WOULD BE ENTITLED TO SEEK IN
A COURT OF LAW. THE COMPANY SHALL PAY ALL AAA’S ARBITRATION FEES. NOTHING IN THIS AGREEMENT IS
INTENDED TO PREVENT EITHER THE COMPANY OR THE EXECUTIVE FROM OBTAINING INJUNCTIVE RELIEF IN COURT
TO PREVENT IRREPARABLE HARM PENDING THE CONCLUSION OF ANY SUCH ARBITRATION.

          5.13. Section 409A. This Agreement shall be interpreted, construed and administered
in a manner that satisfies the requirements of Section 409A of the Code and the final Department of
Treasury Regulations promulgated thereunder (the “409A Regulations”).

          Notwithstanding any provision to the contrary in the Agreement, if the Executive is deemed at
the time of his or her separation from service to be a “specified employee” for purposes of Section
409A(a)(2)(B)(i) of the Code, to the extent any portion of the termination payments to which the
Executive is entitled under this Agreement in the event of a termination upon a Change in Control
is required to be delayed in order to avoid a prohibited distribution under Section
409A(a)(2)(B)(i) of the Code, such portion of the Executive’s termination benefits shall not be
paid to the Executive prior to the earlier of (i) the expiration of the six-month period which
shall begin on the date of the Executive’s “separation from service” with the Company (as such term
is defined in accordance with Section 409A of the Code and the 409A Regulations), or (ii) the date
of Executive’s death; provided, however, that (a) termination payments shall not be delayed
in the event such payments must be paid within the “short-term deferral period” as specified under
Section 409A of the Code and the 409A Regulations (which, solely for illustrative purposes,
generally requires payment within the first 2 1/2 months of the calendar year immediately following
the calendar year in which the Executive has a vested right to payment under this Agreement) and
(b) in the event of an involuntary termination as specified in Section 409A of the Code and the
409A Regulations, payment shall be delayed only with respect to that portion of the termination
payments in excess of the lesser of (x) two times the limit under Section 401(a)(17) of the Code
(the total of which is currently $450,000) or (y) the sum of Executive’s annual compensation for
the two calendar years prior to the Date of Termination. Upon the expiration of the period during
which the payment of any termination payments is delayed as set forth in (i) or (ii), all payments
deferred pursuant to this Section 5.13 shall be paid in a lump sum to the Executive and any
remaining payments due under the Agreement shall be paid as otherwise provided herein.

          5.14 Withholding. Any amounts payable pursuant to this Agreement shall be subject to
any federal, state, local, or other income, employment, excise or other taxes that the Company is
required to withhold pursuant to any law or government regulation or ruling.

          5.15. Attorneys’ Fees. Subject to Section 5.12, if any legal action, arbitration or
other proceeding, is brought for the enforcement of this Agreement, or because of an alleged
dispute, breach or default in connection with any of the provisions of this Agreement, the
prevailing party shall be entitled to recover reasonable attorneys’ fees and other costs incurred
in

14

 

that action or proceeding, including any appeal of such action or proceeding, in addition to any
other relief to which that party may be entitled.

          5.16. Entire Agreement. This Agreement contains the entire agreement and
understanding between the Company and the Executive with respect to the matters contained herein,
and no representations, promises, agreements or understandings, written or oral, not herein
contained shall be of any force or effect. This Agreement shall not be changed unless in writing
and signed by both the Executive and the Company.

          5.17. The Executive’s Acknowledgment. The Executive acknowledges (a) that he has had
the opportunity to consult with independent counsel of his own choice concerning this Agreement,
and (b) that he has read and understands the Agreement, is fully aware of its legal effect, and has
entered into it freely based on his own judgment.

(Signature Page Follows)

15

 

          IN WITNESS WHEREOF, the parties have executed this Amended and Restated Change in Control and
Noncompetition Agreement as of the date and year first written above.

	 	 	 	 	 
	 	AMB PROPERTY, L.P.

a Delaware limited partnership

 	 
	 	By:  	AMB Property Corporation 	 
	 	 	its general partner 	 
	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Nancy J. Hemmenway 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	EXECUTIVE

 	 
	 	Name: 	 
	 	 	 

S-1

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