Document:

exv10w37

EXHIBIT 10.37

Three Part Final Agmt.

AGREEMENT

THIS AGREEMENT drafted in Three Parts is made this, 24th day of March 2011 by and
between Mount Snow Ltd. organized and existing under the laws of the State of Vermont and
located at

39
Mount Snow Road

West Dover, VT 05356

(Purchaser)

and

Leitner-Poma of America (L-POA)

a corporation organized and existing under the laws of the State of Colorado, located at

2746 Seeber Drive, Building A

Grand Junction, CO 81506

Phone (970) 241-4442

Both individually referred to as “Party” as well as collectively also referred to as “Parties.”

RECITALS FOR PART ONE OF AGREEMENT

	 	A.	 	Mount Snow Ltd. is the operator of Mount Snow Resort and desires to purchase certain
equipment and services from L-POA to install a 6-place LPA Detachable Lift with one hundred
and two Blue Bubbles,
	 
	 	B.	 	L-POA has longstanding experience in the design, manufacture, and installation of such
equipment and desires to supply to the Purchaser certain equipment and related services.

THEREFORE, the Parties agree as follows:

	1.	 	DEFINITIONS

	 	1.1.	 	For the purpose of this Agreement the following terms will have the meaning
assigned to them below:
	 
	 	1.2.	 	“Agreement” will mean this written Agreement drafted in Three Parts and the
attached Exhibits. The Agreement includes the following Exhibits:

 

 

	 	 	 	Exhibit A — Lift #17 — Performance specifications
	 
	 	 	 	Exhibit B — Lift #17 — List of equipment supplied by L-POA
	 
	 	 	 	Exhibit C — L-POA support services and responsibilities
	 
	 	 	 	Exhibit D — Purchaser services and responsibilities
	 
	 	 	 	Exhibit E — Payment Schedule
	 
	 	 	 	Exhibit F — Equipment Supplied for Yankee Clipper
	 
	 	 	 	Exhibit G — Certificate of Substantial Completion
	 
	 	 	 	Exhibit H — Punch List
	 
	 	 	 	Exhibit I — Milestones
	 
	 	 	 	Exhibit J — Enclosure plans
	 
	 	 	 	Exhibit K — Price calculation
	 
	 	 	 	Exhibit L — Warranty

	 	1.3.	 	“Borrowed Worker” will mean an employee of Purchaser assisting L-POA.
	 
	 	1.4.	 	“Completion Date” will mean the date Purchaser accepts the Lift as evidenced by (a) the
execution of the Certificate of Substantial Completion described in Paragraph 5.3 or (b)
pursuant to Paragraph 5.4.
	 
	 	1.5.	 	“Delivery”, unless otherwise specified, will be freight on board to the Site.
	 
	 	1.6.	 	“Equipment” will mean parts, machinery, structure, steel, drives, controls, and other parts
and appurtenances as set forth in Exhibit B to be supplied by L-POA for the Lift described in
Exhibit A.
	 
	 	1.7.	 	“Lift” will mean the complete aerial ropeway system comprised of a one hundred and two 6
place LPA bubble chair manufactured by L-POA, as described in Exhibit A of this Agreement,
together with all the parts and appurtenances thereto and including the Equipment, as
described in Exhibit B.
	 
	 	1.8.	 	“Services” will mean those services provided by L-POA incidental to the engineering,
designing, installation and erection of the Lift, including training and support, as described
in Exhibit C.

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	 	1.9.	 	“Site “ will mean the location at which the Lift is to be erected at the Mount
Snow Resort, including the necessary service, access and storage areas required for
supply and erection, as described in Exhibit D.
	 
	 	1.10.	 	“Subcontractor” will mean any person or entity contracting with L-POA to
furnish any of the Work.
	 
	 	1.11.	 	“Work” will mean the collective design, engineering, manufacture, supply,
installation and erection of the Lift as required by this Agreement and includes all
labor including Purchaser’s borrowed employees, supplies, materials, transportation
necessary to design, engineer, manufacture, supply, install arid erect the Lift as
provided in this Agreement.

	2.	 	DUTIES AND OBLIGATIONS OF L-POA

	 	2.1.	 	L-POA will design and manufacture the Lift, and furnish layout and all necessary
engineering and specifications of Equipment as set forth in Exhibit B (for the lift
described in Exhibit A); and to deliver the Equipment and Services at its cost and risk
to the appropriate staging area at the Site; and to install, service, and start up the
Lift, as described in Exhibit C.
	 
	 	2.2.	 	L-POA will manufacture the Lift in a good and workmanlike manner using new and
good quality material, free from defects, and in conformance with this Agreement,
except when specified otherwise in this Agreement.
	 
	 	2.3.	 	L-POA warrants that the Work will conform to the American National Standards
Institute Safety Code B77 for Aerial Passenger Tramways (“ANSI B77”), and the
applicable regulations of the Vermont Tramway Board and of the United States Forest
Service.

	3.	 	DUTIES AND OBLIGATIONS OF PURCHASER

	 	3.1.	 	Purchaser shall pay L-POA for L-POA’s performance of the Agreement the
Contract Price of Seven Million, Three Hundred Twenty Three Thousand, Eight Hundred
Thirty Dollars ($7,323,830) in U.S. dollars, subject to additions and deductions as
provided in the Agreement. Purchaser will make payments under this Agreement
according to the

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	 	 	 	schedule contained in Exhibit E (“Payment Schedule”). The calculation for the price
of the Work is shown on the attached Exhibit K.
	 
	 	3.2.	 	Purchaser will cooperate fully with L-POA in the design, engineering,
construction, erection and installation of the Lift.
	 
	 	3.3.	 	Purchaser will provide the services set forth in Exhibit D on or before the
applicable dates set forth in Exhibit D, and will pay for all related costs.
	 
	 	3.4.	 	The Purchaser will not remove or obliterate any plates or sign which may be
attached to the Lift or any part of the Lift containing the name, logo or address of
L-POA or any of its affiliates, any trade name or trade mark of L-POA or any of its
affiliates, or any reference to patents or patent applications applicable to the Lift.

	4.	 	TERMS OF PAYMENT

	 	4.1.	 	L-POA will submit itemized invoices upon its accomplishment of each payment
event as outlined in Exhibit E to Purchaser’s accounting department care of Deena
Hicken and a duplicate invoice to Dave Moulton (or his designee). Upon written approval
by Mr. Moulton Purchaser’s accounting department will issue the scheduled payment.
Payment shall become due and owing upon approval by Mr. Moulton. For each payment
event, and provided L-POA has accomplished the task outlined in that payment event, and
the task is approved by the Purchaser, the Purchaser shall not be entitled to withhold
payment for any reason. If Purchaser fails to make any payment to L-POA within thirty
(30) days of the invoice date, L-POA will have the right, in addition to other
available remedies, to immediately cease further performance hereunder until such
payment is made in full, together with interest at a rate of 1.5% per month on past due
balances. If L-POA incurs any additional Work costs as a result of ceasing its
performance, including but not limited to, redeployment, travel and lodging expenses,
Purchaser will reimburse L-POA for its actual additional Work costs within thirty (30)
days following receipt of L-POA’s invoice providing reasonable detail regarding such
additional Work costs.
	 
	 	4.2.	 	The parties agree that the Purchase Price will be adjusted to reflect L-POA’s
actual increased costs incurred in the event that subsurface rock or other unknown
subsurface physical conditions are encountered during the installation of the Lift,
which are at

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	 	 	 	variance with the conditions specified in Exhibit D to this Agreement to wit the
subsurface soil pressure is lower than 4,000 PSF, or which are different from those
ordinarily encountered and generally recognized as inherent in work of the character
provided for in this Agreement. Upon finding that such conditions are at variance
with the specified conditions of Exhibit D L-POA shall immediately notify the
Purchaser before conditions are disturbed. The Purchaser shall then have an
opportunity to investigate the conditions. Such adjustments in the Purchase Price
will be by a Change Order, as provided in Paragraph 15.
	 
	 	4.3.	 	Purchaser agrees that it will not operate the Lift for the public if any
required payments are delinquent. In the event the Purchaser operates the Lift to the
public while a payment is delinquent and without L-POA written consent, L-POA shall
have the right to enter upon the site and render the Lift inoperable
until such time as
the delinquent amounts are paid.
	 
	 	4.4.	 	The Contract Price excludes sales and use taxes. Purchaser shall pay all
applicable sales and use taxes as determined by Purchaser’s accounting department or
governing authority.

	5.	 	CONSTRUCTION SCHEDULE AND COMPLETION

	 	5.1.	 	L-POA shall complete the Work not later than November 9,2011 (Scheduled
Completion Date), subject to adjustments as provided in the Agreement, and subject to
Purchaser performing its obligations in accordance with the Agreement. In the event
L-POA ceases performance in accordance with the Agreement, the Scheduled Completion
Date will be extended for a period of time equal to the time that performance ceases
plus a reasonable time for redeployment. The Scheduled Completion Date may also be
extended in the event of Force Majeure as provided in paragraph 20, below. However,
absent events outlined in paragraph 20, or delays related exclusively to the Purchaser,
Time is Of the Essence.
	 
	 	5.2.	 	Purchaser agrees that it will not interfere with or obstruct L-POA in the
fulfillment of its obligations under this Agreement or any Subcontractor in the
provisions of services or materials relating to the Work.

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	 	5.3.	 	Except as provided in Paragraph 5.4, Completion occurs when the Certificate of
Substantial Completion, in the form appearing in Exhibit G, has been satisfied and
executed by both Purchaser and L-POA.
	 
	 	5.4.	 	Purchaser will be deemed to have accepted the Work and the Lift deemed to be
completed, if Purchaser operates the Lift for use by its patrons prior to the execution
of the Certificate of Substantial Completion.
	 
	 	5.5.	 	In the event that a delay in the Completion Date is caused by Purchaser, the
unpaid portion of the Contract Price will be increased by 0.5% per month

	6.	 	PUNCH LIST

	 	6.1.	 	The Certificate of Substantial Completion may exclude minor items, not involving
the safety, operability or fitness for licensure of the Lift, which will be completed
or corrected after the Completion Date, in which case, within five (5) days of the
delivery of the Certificate of Substantial Completion, L-POA and the Purchaser will
jointly agree upon a Punch List reflecting all such items to be completed or corrected
and including an estimate of the cost to complete each such item (the “Punch List”) in
the form attached at Exhibit H. If the parties cannot in good faith jointly agree to
the Punch List, either party may submit such dispute to binding arbitration, as
provided in this Agreement. However, the existence of any such dispute does not delay
or reduce Purchaser’s obligation to make payments in accordance with the Agreement.
	 
	 	6.2.	 	The Purchaser shall be entitled to withhold from the last payment an amount
equal to 150% of the reasonable value of all such Punch List items. Each amount so
deducted and withheld shall become due and payable upon completion of each item on the
Punch List. The total amount withheld will not exceed in any case more than 3% of the
Contract Price. When an item on the Punch List has been rectified; L-POA will invoice
for that respective item and the Purchaser shall pay the invoice within thirty (30)
days of invoice date.

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	7.	 	TITLE

	 	7.1.	 	Title to the Lift will pass to Purchaser upon the execution of the Certificate
of Substantial Completion or deemed completion of the Lift under Paragraph 5.4.

	8.	 	RISK OF LOSS

	 	8.1.	 	The risk of loss of the Lift will pass to Purchaser upon execution of the
Certificate of Substantial Completion or deemed completion of the Lift under Paragraph
5.4, regardless of whether the Contract Price has been paid in full.

	9.	 	SECURITY INTEREST

	 	9.1.	 	Until such time as the Purchase Price and all other amounts due and owing under
this Agreement have been paid in full: the Lift will be and remain personal or movable
property and will not be deemed part of realty even though affixed or attached thereto,
whether or not placed upon a permanent foundation.
	 
	 	9.2.	 	Purchaser agrees to execute any reasonably drafted instruments or documents
complying with the obligations required by its lenders related to security and that
L-POA deems appropriate to protect or perfect the security interest, including Uniform
Commercial Code financing statements or similar documents to perfect L-POA’s interest
in the Lift as a first priority lien. If requested by L-POA, Purchaser agrees to
provide L-POA with a legal description of the land on which the Lift will be erected.
	 
	 	9.3.	 	If Purchaser fails to pay the Contract Price or any portion thereof in
accordance with the Agreement or fails to pay any additional charges or otherwise
defaults in the performance of any of its obligations, then L-POA will have all the
rights and remedies of a secured creditor under the Uniform Commercial Code or similar
law as in force in the jurisdiction where the Lift is located subject to the
limitations noted in section 9.2 above, including the right to repossession of the
Lift, in addition to its other rights and remedies under this Agreement or otherwise
provided by law or in equity.

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	10.	 	PURCHASER’S INSURANCE

	 	10.1.	 	Purchaser shall purchase and maintain in full force and effect the following
insurance while the Work is being performed:

	 	10.1.1.	 	Adequate Commercial General Liability insurance on an ISO standard form or
its equivalent with minimum limits of US $1,000,000 for bodily injury,
including death, or property damage arising out of any one occurrence or in the
aggregate.
	 
	 	10.1.2.	 	Business Automobile Liability Insurance with minimum limits of $1,000,000
per occurrence single limit for bodily injury and property damage combined
covering all vehicles owned or operated by the Purchaser.
	 
	 	10.1.3.	 	Statutory Workers Compensation Insurance in accordance with the provisions
of the applicable Workers Compensation Act, if any, of the jurisdiction in
which the Lift is constructed, for all of Purchaser’s employees assisting,
whether directly or indirectly, in the Work.
	 
	 	10.1.4.	 	If requested, Purchaser shall provide L-POA with a Certificate of Insurance
evidencing the insurance policies described in this section. The Certificate of
Insurance shall provide for a minimum of thirty (30) days written notice to L-POA
prior to cancellation of any policy.

	11.	 	L-POA’S INSURANCE

	 	11.1.	 	L-POA shall purchase and maintain in full force and affect the following
insurance while the Work is being performed.

	 	11.1.1.	 	Commercial General Liability Insurance including Products/Completed
Operations Liability insurance on an ISO standard form or its equivalent with
limits of US $5,000,000 for bodily injury, including death or property damage
arising out of any one occurrence or in the aggregate. If requested, Purchaser
may be included as an additional insured.

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	 	11.1.2.	 	Business Automobile Liability Insurance on all vehicles used by L-POA
in connection with this Agreement with minimum limits of $2,000,000 per
occurrence single limit for bodily injury and property damage combined.
	 
	 	11.1.3.	 	Statutory Workers Compensation insurance in accordance with the provisions
of the applicable Workers Compensation Act, if any, of the jurisdiction in
which the Lift is constructed, for all of L-POA employees to be engaged in the
Work under this Agreement and all Purchaser’s borrowed employees under the
control of L-POA, and in case the Work is subcontracted, L-POA shall require
the subcontractor to provide the Workers Compensation Insurance for all of the
subcontractor’s employees to be engaged in such Work.
	 
	 	11.1.4.	 	Until Title to the Lift passes to Purchaser, L-POA shall carry installation
risk insurance covering the goods and materials forming a part of the Work
arising from covered causes of loss (per specific policy terms and conditions)
with a coverage limit of US $7,000,000.00 at the installation site.
	 
	 	11.1.5.	 	L-POA shall provide Purchaser with a Certificate of Insurance acceptable to
the Purchaser evidencing the insurance policies described in this section. The
Certificate of Insurance shall provide for a minimum of thirty (30) days
written notice to Purchaser prior to cancellation of any policy.
	 
	 	11.1.6.	 	All subcontractors of L-POA shall provide the Purchaser with proof of the
above applicable insurance coverage at limits and providers approved by the
Purchaser prior to entering the Purchaser’s premises.

	12.	 	WARRANTIES

	 	12.1.	 	When used and maintained in accordance with the maintenance and operation
manual with respect to the Lift provided by L-POA to Purchaser and except for items
warrantied as described under Paragraph 12.3, L-POA warrants that the Lift when
delivered to Purchaser, will be of merchantable quality and free from defects in
materials and workmanship including but not limited to design, engineering and
installation for two (2)

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	 	 	 	years or 3,000 hours of operation from the date of delivery by L-POA or its authorized
dealer, whichever comes first (the “Warranty Period”
see Exhibit L).

	 	12.2	 	During the Warranty Period, L-POA agrees to supply Purchaser, without charge, with any new
parts to replace any part of the Lift that is defective as to material or workmanship. Any
replacement parts will be installed at Purchaser’s sole cost and expense. However, in any one
warranty year, L-POA will reimburse Purchaser for any labor hours in excess of 100 hours that
Purchaser incurs repairing or replacing L-POA warranted parts and this shall be billed on an
hourly basis of $50 per hour for all manual labor and $100 per hour for all snowcat time. With
the exceptions listed above L-POA is under no obligation to provide, or pay for, the cost of
labor for repairs or replacement of parts during the Warranty Period. L-POA is responsible for
cable splicing, which will be at L-POA’s cost and expense during the Warranty Period. Under no
circumstances will L-POA be under any obligation to contribute to the cost for normal
maintenance and repairs to the Lift or non-defective items requiring replacement as a result
of ordinary use or wear and tear.
	 
	 	12.3	 	The Warranty Period as to component parts and equipment included in the Lift which are
supplied by third party vendors not affiliated with L-POA will be limited to the applicable
term and limitations of the warranty provided by such third party vendors to L-POA (Exhibit
L). Such third party vendor warranties are not exclusive to L-POA and L-POA represents that
the benefits of these warranty benefits shall run to the Purchaser. Items that specifically
fall under this warranty provision are the diesel engines, electric motor, electric controls,
haul rope, and gearbox. Any failed warrantied part must be returned to L-POA within sixty (60)
days of the date that the replacement part is shipped. If the failed part is not returned
within 60 days, the Purchaser shall pay for the replacement part.
	 
	 	12.4	 	L-POA will not be liable for breach of its warranties set forth in Paragraph 12, if such
breach is caused by: (a) Force Majeure (as defined in Paragraph 20), or other cause beyond
L-POA’s reasonable control; (b) alteration, modification or change in the Work or Lift and/or
use of component parts or equipment supplied by those other than L-POA, without L-POA’s prior
written consent, except when done according to plans and specifications specifically referring
to such additional work, supplied by L-POA and warranted by L-POA in writing; (c) improper
maintenance operation or use of the Lift;

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	 		 	(d) abnormal wind conditions; (e) damages caused by abrasives, dirt or corrosion;
(f) improper cable alignment or lubricant; or (g) any error in any geographical
investigation or estimate of snow depth or in any engineering information supplied
by Purchaser or its agents to L-POA.
	 
	 	12.5	 	Except for cable splicing, the right to require the replacement of a
defective part will be Purchaser’s sole remedy for any breach of the warranties
provided in this Agreement. L-POA will not be liable for loss of business,
consequential damages, other direct or indirect damages of any kind whatsoever
whether founded on breach of contract, tort or strict liability or otherwise,
resulting from breach of the aforesaid warranties. L-POA specifically disclaims any
other obligation, expressed or implied. EXCEPT AS SPECIFICALLY DESCRIBED IN THIS
PARAGRAPH 12, THERE ARE NO OTHER WARRANTIES EXPRESS OR IMPLIED WHICH EXTEND BEYOND
THE DESCRIPTION SET FORTH IN THIS AGREEMENT AND ALL OTHER WARRANTIES, EXPRESSED OR
IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A
PARTICULAR PURPOSE, ARE EXCLUDED.

	13.	 	LIMITATIONS ON LIABILITY

	 	13.1.	 	During the period of this Agreement and thereafter, L-POA will not be liable
for any property damage, bodily injury or loss of life, if such occurrences are caused
by, but not limited to, any of the following:

	 	13.1.1.	 	Act of God, avalanche, lightning, fire, collision, landslide, earthquake,
significant earth movement, flood, catastrophic winds, war, insurrection,
sabotage, vandalism or any other cause beyond L-POA’s reasonable control.
	 
	 	13.1.2.	 	Unauthorized alterations or changes to the Lift, including relocation of the
Lift or any of its components and/or use of parts supplied by persons other than
L-POA, except with L-POA’s written consent or in accordance with plans and
specifications supplied to Purchaser by L-POA or its agents.
	 
	 	13.1.3.	 	Any error in any estimate of snow depth, soil engineering, or in any other
engineering information supplied by Purchaser or its agents to L-POA;

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	 	13.1.4.	 	Failure of Purchaser to operate or maintain the Lift in accordance
with: (a) the
provisions set forth in the maintenance and operation manual with respect to the
Lift provided by L-POA; (b) any standards or procedures provided by L-POA
through its written service or similar bulletins; (c) any then applicable Federal,
State, or local laws, regulations or codes; or (d) Purchaser’s own policies and
procedures for the operation and maintenance of the Lift.
	 
	 	13.1.5.	 	Any incorrect or inappropriate use, lack of experience of any person involved in
the operation of the Lift, overloading of the Lift, negligence of Purchaser in the
operation or in maintenance of the Lift.
	 
	 	13.1.6.	 	Operation of the Lift: (a) during any unsafe conditions, including unsafe ice
accumulation, high winds, lightning, excessive snow depths, lack of adequate
visibility; (b) with any safety systems bypassed; or (c) with any obstructions that
may interfere the lift operation.
	 
	 	13.1.7.	 	Claims by third parties arising as a result of or following the sale or disposition
of the Lift by Purchaser.

	 	13.2.	 	Notwithstanding anything to the contrary contained herein, in no event shall
L-POA’s
liability for any breach of the terms and provisions exceed the amounts paid by Purchaser
to L-POA on account of the Contract Price.
	 
	 	13.3.	 	In the event of any dispute or claim under this Agreement, Purchaser may not recover
incidental or consequential damages from L-POA.

	14.	 	PROPRIETARY INFORMATION

	 	14.1.	 	Purchaser agrees that all software, drawings, sketches, specifications,
operation and maintenance manuals and other technical documents, as well as samples,
illustrations and related documents provided by L-POA: (a) constitute proprietary
engineering information of L-POA (the “Proprietary Information”); (b) may be used by
Purchaser and its agents or representatives solely in connection the construction,
maintenance and operation of the

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	 	 	 	Lift; and (c) may not be used by Purchaser or its agents or representatives for the
design or modification of this or any other installation.
	 
	 	14.2.	 	The parties acknowledge that Purchaser may disclose Proprietary Information
to applicable governmental authorities to the extent required for certification or
licensure of the Lift contemplated under this Agreement.

	15.	 	CHANGES IN THE WORK

	 	15.1.	 	If Purchaser requests a change in the Work, or if changes in the
specifications are required by a governmental authority having jurisdiction over the
Work or are necessitated by material differences between the physical conditions upon
which the specifications are based and actual on-site physical conditions, the
Purchase Price will be equitably increased or decreased, as the case may be. No
changes will be made in the Work, unless first agreed to in writing by Purchaser and
L-POA. Such a writing shall include the exact change expected, the exact adjustment in
cost(if any), and the time necessary to complete the change. In the event the parties
are unable to agree on all equitable price adjustments for such changes, the parties
will submit such price dispute to binding arbitration, as provided in this Agreement.

	16.	 	REGULATORY APPROVAL

	 	16.1.	 	Except as otherwise provided in this Agreement, all permits, licenses
approvals and
authorizations (the “Required Permits”) required to permit L-POA to perform the Work
and install the Lift without any restriction, condition or limitations which would prevent
or unduly hinder L-POA’s ability to perform the Work hereunder or result in any
unreasonable economic burden to L-POA, will be secured by Purchaser and will be in the
name of Purchaser.
	 
	 	16.2.	 	L-POA agrees to comply with the conditions contained in the Required Permits if L-POA
has specific knowledge of such conditions.
	 
	 	16.3.	 	Purchaser agrees to notify L-POA of any violations or potential violations of any
Required Permits. After being so notified, L-POA will take all actions to comply with
the Required Permits that are commercially reasonable.

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	 	16.4.	 	In the event that the Required Permits are not granted on a timely basis
through no fault of L-POA, Purchaser will be deemed to have materially breached this
Agreement.

	17.	 	BORROWED WORKERS

	 	17.1.	 	Borrowed Workers will at all times remain employees of Purchaser.

	18.	 	NOTICE OF ACCIDENTS

	 	18.1.	 	Following the Completion Date, Purchaser will promptly notify L-POA in
writing of any accident relating to the Lift resulting in serious bodily injury, death
or material property damage.

	19.	 	CONFIDENTIALITY

	 	19.1.	 	L-POA and Purchaser agree and acknowledge that the Proprietary Information and
the
provisions of this Agreement in general, and specifically the Purchase Price paid by
Purchaser to L-POA and the warranties extended to Purchaser, are and will forever be
confidential and held by the parties and their respective agents and representatives in the
strictest confidence.
	 
	 	19.2.	 	In the event either party or any of its agents or representatives is ordered by a court of
competent jurisdiction to disclose any of the Proprietary Information or any of the
provisions of this Agreement, that party will notify the other party of such order prior to
making any such disclosures. In addition the Purchaser shall be permitted to disclose
details of this agreement to its lenders, stock holders or related individuals with a legal or
business need to know such details. The Purchaser, without disclosing the specific details
shall be permitted to announce publicly the general amount of lift related improvements
made at the resort during 2011.
	 
	 	19.3.	 	Neither party nor any of its agents or representatives will disclose any of the Proprietary
Information or any of the provisions of this Agreement to any person; provided that
each
party may make necessary disclosures to their respective Subcontractors, employees or

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	 	 	 	agents who have a direct and specific need for such information, and who will be
advised and will agree to the confidentiality provisions provided for herein.
	 
	 	19.4.	 	In the event of a breach or threatened breach of the provisions of this
Paragraph 19 by a party or its agents or representatives, the parties acknowledge
that the nonbreaching party will suffer immediate irreparable harm and that the
nonbreaching party will be entitled to all remedies available to it at law or in
equity, including, but not limited to, a temporary restraining order and injunction
prohibiting the disclosure of such information.

	20.	 	FORCE MAJEURE

	 	20.1.	 	In the event of Force Majeure, which will include, but not be limited to,
causes beyond
the control and without the fault or negligence of L-POA. Such causes include but are
not limited to acts of god, acts of the United States government, fires, and unusually
severe weather , strikes, labor conflicts beyond the reasonable control of L-POA which
prevents or impedes, increases the cost of or delays L-POA’s performance under this
Agreement, L-POA may elect to suspend the Agreement. L-POA will give Purchaser
written notice within ten (10) days of the date L-POA becomes aware of circumstances
constituting Force Majeure.
	 
	 	20.2.	 	The Scheduled Completion Date will automatically be extended for a period equal to
such delay up to the first twenty (20) days. If the circumstances constituting the Force
Majeure continues for more than twenty (20) days, the Scheduled Completion Date will
be automatically extended for periods of thirty (30) days until such circumstance no
longer exist. In the event of an increase in costs as a result of a Force Majeure, the
Purchase Price will be increased by the amount of such increased costs.
	 
	 	20.3.	 	Neither party will be in default of its contractual obligations under this Agreement if such
obligations cannot be satisfied as a result of Force Majeure, it being understood
that each
Party shall fulfill its contractual obligations according to their respective
performance
before the operation of Force Majeure.
	 
	 	.	 	.

15

 

	21.	 	TERMINATION

	 	21.1.	 	Except as otherwise set forth in this Agreement, if either party to this
Agreement materially breaches any of the terms, covenants or conditions of this
Agreement, the nonbreaching party, so long as it. itself is not in material breach,
may, upon giving thirty (30) days’ written notice of the alleged default to the
breaching party, giving that party thirty (30) days from the receipt of the notice to
cure the alleged breach. In the event that the breaching part does not cure the breach
within the thirty (30) day window the non breaching party will then have the right to
terminate this Agreement or stop the Work and pursue any remedy available at law or in
equity. In addition to any other material breaches, each of the following will be
considered a material breach:

	 	21.1.1.	 	If without the written consent of L-POA, the property should be seized or
levied
upon under any legal or governmental process against Purchaser or the property;
	 
	 	21.1.2.	 	If either party becomes insolvent, or is subject to any bankruptcy or insolvency
proceeding, if either party makes an assignment for the benefit of creditors, if
there is a failure or termination of a party’s business, if a receiver is appointed for
a party or all or a substantial part of its assets or business;
	 
	 	21.1.3.	 	If the Lift or any portion thereof is transferred or hypothecated to a third party; or
	 
	 	21.1.4.	 	Failure by Purchaser to make any payment when due (notwithstanding any other
provision in Paragraph 21 and in accordance with Paragraph 4.1, L-POA has
the
right to stop Work immediately in this case).

	22.	 	WAIVER

	 	22.1.	 	Failure to insist upon strict compliance with any terms, covenants and
conditions will not be deemed a waiver of any breach of such terms, covenants and
conditions, nor will any waiver or relinquishment of any right or power at any one or
more times be deemed a waiver or relinquishment of such right or power at any other
time or times. No waiver will be valid unless in writing and signed by authorized
officers of the parties.

16

 

	 	22.2.	 	No delay by either party in exercising its rights will be a waiver nor will a
waiver on one occasion operate as a waiver on a future occasion.

	23.	 	INDEMNIFICATION

	 	23.1.	 	Except as otherwise provided herein and subject to the limitation set forth in
Paragraphs 12, 13 and 20, each party agrees to indemnify, defend and hold harmless
the other party and its partners, its subsidiaries and affiliates, their respective
agents, officers, directors, servants and employees and owners, successors and
assigns of and from any and all liability, claims, liens, demands, actions and causes
of action whatsoever and including reasonable attorneys’ fees and costs arising out
of or related to any loss, cost, damage or injury, including death, of any person or
damage to property of any kind caused by, and only to the extent of, the misconduct
or negligent acts, errors or omissions of L-POA or Purchaser, as the case may be, its
Subcontractors, materialmen or any other person directly or indirectly employed by
them, or any of them, while engaged in any activity associated with the design and/or
manufacture of the Lift, the installation thereof, or any activity related thereto,
or associated therewith, whether contractually or otherwise. This indemnification
clause shall survive the term of this agreement.

	24.	 	ARBITRATION

	 	24.1.	 	The parties agree to submit all controversies, claims and matters of difference
arising in the interpretation of performance of this Agreement to binding arbitration
in West Dover, Vermont, according to the construction rules and practices of the
American Arbitration Association from time to time in force. This submission and
agreement to arbitrate will
be specifically enforceable. Arbitration may proceed in the absence of either party
if proper notice of such proceedings has been given to such party. Commencement of
arbitration will not affect any of the parties’ rights or obligations. It is agreed
that one arbitrator will be an expert in the field and that only disputes between
Purchaser and L-POA exclusively will be arbitrable. The arbitration decision is not
appealable. The arbitrators must agree in advance to render a decision within
forty-five (45) days of completion of arbitration. The prevailing party in
arbitration, as determined by arbitrators, shall recover its costs and attorneys
fees from the other party, including the arbitrators’ fees.

17

 

	25.	 	NOTICES

	 	25.1.	 	Any notices to be given by either party to the other pursuant to this
Agreement or other
communications will be faxed, e-mailed, hand delivered or mailed by certified mail,
return receipt requested, at the address of the respective parties as follows:
	 
	 	 	 	If to L-POA:
	 
	 	 	 	Mr. Rick Spear

President

Leitner-Poma of America, Inc.

2746 Seeber Drive, Building A

Grand Junction, CO 81506

	 
	 	 	 	If to Purchaser:
	 
	 	 	 	Kelly Pawlak

General Manager

Mount Snow Resort

39 Mount Snow Road

West Dover, VT 05356

	 
	 	25.2.	 	The time of the giving of such notice will be deemed to be the time when it is
faxed, e-mailed, personally hand delivered or the third day after it was mailed, if
mailed. Either
party may change the address to which notice will be given by notice so given to the
other.

	26.	 	ASSIGNMENT

	 	26.1.	 	Neither party to this Agreement will assign this Agreement without the
written consent of the other.

	27.	 	MISCELLANEOUS

	 	27.1.	 	Section headings are inserted for convenient reference and do not define,
limit or prescribe the provisions of any section.

18

 

	 	27.2.	 	Since L-POA has an office in Vermont and the work is being performed in Vermont this
Agreement will be subject to and construed and interpreted in accordance with laws of
the State of Vermont. The Parties consent to jurisdiction in Vermont and to venue in
Windham County, Vermont.
	 
	 	27.3.	 	This Agreement, including all exhibits, contains the entire agreement between the parties and
may not be modified except by written instrument signed by both parties. This Agreement
supersedes prior negotiations, representations or agreements, whether oral or written.
	 
	 	27.4.	 	Each term, condition, and provision of this Agreement will be valid and enforceable to
the fullest extent permitted by law. If any term, condition or provision of this Agreement
will be held invalid or unenforceable to any extent, then the remainder of this Agreement
or the application of such term, condition, or provision to any persons or circumstances
other than those to which it is held invalid or unenforceable will not be affected thereby.
	 
	 	27.5.	 	The relationship between Purchaser and L-POA is that of independent contracting parties.
This Agreement will not be construed to create any partnership or joint venture between
Purchaser and L-POA. L-POA, employees of L-POA and all Subcontractors will at no
time be deemed to be or act as employees or agents of Purchaser.
	 
	 	27.6.	 	This Agreement will be binding upon and inure to the benefit of the parties, their
successors and assigns.
	 
	 	27.7.	 	This Agreement and any changes to this Agreement may be signed electronically by
facsimile or email, and in multiple counterparts, each of which, taken together, shall have
the same force and effect as one integrated original.
	 
	 	27.8.	 	L-POA and Purchaser certify and acknowledge that this Agreement is executed pursuant to
proper corporate authority and by a person authorized to-do so, and shall provide any and
all
evidence of corporate authority as requested by either party.

19

 

PART TWO OF A THREE PART AGREEMENT

     This Part Two of the Three Part Agreement between the parties memorializes the scope
of work, related obligations and representations of the parties for the retrofitting of the
Purchaser’s Grand Summit Express (“Lift 11”).

     The following sections from Part One of this Agreement are specifically incorporated into
this Part Two of the Agreement: Section, Definitions; Section 4, Terms of Payment; Section 6,
Punch List; Section 14, Proprietary; Section 15, Changes in the Work; Section 17, Borrowed
Workers; Section 19, Confidentiality; Section 20, Force Majeure; Section 21, Termination;
Section 22, Waiver; Section 24 Arbitration; Section 25, Notices; Section 26, Assignment; Section
27, Miscellaneous.

RECITALS FOR PART TWO OF AGREEMENT

     WHEREAS, the Purchaser owns a four passenger detachable chair lift called the Grand
Summit Express also known as Lift 11; and

     WHEREAS, the Purchaser desires to replace the existing lift chairs and construct an
enclosure over the bottom terminal, both on the Grand Summit Express; and

     WHEREAS, 1-POA shall provide the Purchaser with six 1-4-1 sheave assemblies; and

     WHEREAS, L-POA has the expertise and know how to engineer and design replacement chairs and
enclosures for the Grand Summit Express;

     NOWTHEREFORE, The Parties agree to the following as it relates to the refurbishing of the
Grand Summit Express:

	28.	 	DUTIES AND OBLIGATIONS FOR THE LIFT 11 RETROFIT CHAIRS

	 	28.1	 	L-POA shall design, engineer and provide to the Purchaser 172 new quad type lift
chairs, including padded seat with back cushions, safety bails and footrests.
	 
	 	28.2	 	Included in the design of the new lift chairs shall be special new hangers for
the chairs that will be attached to chair heads provided by Purchaser and refurbished
by L-POA.
	 
	 	28.3	 	L-POA shall insure proper bolt fit in the new hangers.

20

 

	 	28.4	 	Purchaser shall be responsible for removing and disposing of the existing Lift
11 chairs and shipping all chair heads to L-POA.
	 
	 	28.5	 	L-POA shall be responsible for shipping refurbished chairs to Purchaser.
	 
	 	28.6	 	L-POA shall provide six (6) 1-4-1 type sheave assemblies engineered to be used
on Lift 11. Purchaser shall be responsible for the installation of these assemblies.
	 
	 	28.7	 	Purchaser shall be responsible for assembly and installation of the new chairs
on the Lift 11 line.
	 
	 	28.8	 	Provided Purchaser delivers the chair heads to L-POA no later than May 15 L-POA
shall deliver the refurbished chairs to Purchaser no later than June 15 for its
schedule June 30 load test.
	 
	 	28.9	 	The shipping costs of items referred to in this section 28 are not included in
the Contract Price and this cost shall be paid by Purchaser.

	29.	 	DUTIES AND OBLIGATIONS FOR THE LIFT 11 ENCLOSURE

	 	29.1	 	L-POA shall design, engineer, and construct an enclosure for the bottom terminal
of Lift 11 as shown on the plans described in Exhibit J.
	 
	 	29.2	 	L-POA is responsible for all labor, including travel expenses, and expenses
related to equipment needed in the construction of the structure.
	 
	 	29.3	 	The enclosure shall include all related equipment for its operation except that
Purchaser shall be responsible for heat and lights and the inside walkways.
	 
	 	29.4	 	The enclosure shall be designed, engineered and constructed in a good and
workmanlike manner using new materials and comply with Vermont Tramway Board
Regulations.

21

 

	 	29.5	 	L-POA in constructing the enclosure shall use care to avoid damaging the existing
bottom terminal structure. If L-POA damages the structure or equipment L-POA shall
replace or repair the damage at no expense to the Purchaser.

	30.	 	TITLE

	 	30.1	 	Title to the enclosure shall pass to the Purchaser upon execution of a
Certificate of Substantial Compliance executed by the Purchaser.
	 
	 	30.2	 	Besides the insurance types and limits spelled out in Section 11 of Part One of
this agreement, L-POA shall, until title to the enclosure passes to the Purchaser,
carry installation risk insurance in an amount sufficient to insure loss of all goods
and materials forming all parts of the enclosure, the existing terminal and the haul
rope.

	31.	 	WARRANTY

	 	31.1	 	When used and maintained in accordance with industry standards with respect to
the finished chairs provided by L-POA for use on Lift 11 L-POA warrants that the Lift
11 chairs and the terminal enclosure will be of merchantable quality and free from
defects for two (2) years or in the case of the chair and sheave assembly 3,000 hours
of operation from the date of delivery by L-POA (the “Warranty Period”).
	 
	 	31.2	 	It is expressly understood that L-POA shall have no responsibility or liability
whatsoever for the failure of any components of the existing Lift 11 that were not
supplied by L-POA. It is further understood that the integration of the new L-POA
equipment into the exiting lift equipment is the decision of the Purchaser alone, based
on the expertise and representations of L-POA.
	 
	 	31.3	 	During the Warranty Period, L-POA agrees to supply Purchaser, without charge,
with any new parts to replace any part of the new chair that is defective as to
material or workmanship. Any replacement parts will be installed at Purchaser’s sole
cost and expense. However, in any one warranty year, L-POA will reimburse Purchaser for
any labor hours in excess of 100 hours that Purchaser incurs repairing or replacing
L-POA warranted parts and this shall be billed to L-POA on an hourly basis of $50 per
hour for manual labor and $100 per hour for snowcat time.

22

 

	 	31.4	 	Any failed warrantied part must be returned to L-POA within sixty (60) days of
the date that the replacement part is shipped. If the failed part is not returned
within 60 days, the Purchaser shall pay for the replacement part.
	 
	 	31.5	 	L-POA will not be liable for breach of its warranties set forth herein, if
such breach is caused by: (a) Force Majeure (as defined in Paragraph 20 of the
agreements first part), or other cause beyond L-POA’s reasonable control; (b)
alteration, modification or change in the Work or Lift 11 chair or enclosures without
L-POA’s prior written consent, except when done according to plans and specifications
specifically referring to such additional work, supplied by L-POA and warranted by
L-POA in writing; (c) improper maintenance operation or use of the Lift 11 chairs;
	 
	 	31.6	 	The right to require the replacement of a defective part will be Purchaser’s
sole remedy for any breach of the warranties provided in this Part Two of the
Agreement. L-POA will not be liable for loss of business, consequential damages, other
direct or indirect damages of any kind whatsoever whether founded on breach of
contract, tort or strict liability or otherwise, resulting from breach of the
aforesaid warranties. L-POA specifically disclaims any other obligation, expressed
or implied. EXCEPT AS SPECIFICALLY DESCRIBED IN THIS PARAGRAPH, THERE ARE NO OTHER
WARRANTIES EXPRESS OR IMPLIED WHICH EXTEND BEYOND THE DESCRIPTION SET FORTH IN
THIS AGREEMENT AND ALL OTHER WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING
THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE
EXCLUDED.

	32.	 	LIMITATIONS ON LIABILITY

	 	32.1	 	During the period of this Agreement and thereafter, L-POA will not be liable
for any property damage, bodily injury or loss of life, if such occurrences are caused
by, but not limited to, any of the following:
	 
	 	32.2	 	L-POA will warrant and be liable only for L-POA equipment, and claims arising
as a result of this equipment, provided that any chair or enclosure failure and
resulting claim is caused solely by a defect in the L-POA equipment.

23

 

	 	32.3	 	Claims by third parties arising as a result of or following the sale or
disposition of the Lift by Purchaser.
	 
	 	32.4	 	Notwithstanding anything to the contrary contained herein, in no event shall
L-POA’s liability for any breach of the terms and provisions exceed the amounts paid by
Purchaser to L-POA on account of the Contract Price.

	33	 	INDEMNIFICATION

	 	33.1	 	Except as otherwise provided herein and subject to the limitation set forth in
Paragraphs 12, 13 and 20, each party agrees to indemnify, defend and hold harmless the
other party and its partners, its subsidiaries and affiliates, their respective agents,
officers, directors, servants and employees and owners, successors and assigns of and
from any and all liability, claims, liens, demands, actions and causes of action
whatsoever and including reasonable attorneys’ fees and costs arising out of or related
to any loss, cost, damage or injury, including death, of any person or damage to
property of any kind caused by, and only to the extent of, the misconduct or negligent
acts, errors or omissions of L-POA or Purchaser, as the case may be, its
Subcontractors, materialmen or any other person directly or indirectly employed by
them, or any of them, while engaged in any activity associated with the design and/or
manufacture of the Lift 11 chairs, sheaves or enclosure, the installation thereof, or
any activity related thereto, or associated therewith, whether contractually or
otherwise.
	 
	 	33.2	 	In addition the Purchaser agrees to indemnify and hold harmless L-POA from any
claims from the failure of the existing lift equipment that was not supplied by L-POA
and from any resulting personal injury or property damage, including damages caused by
inaccuracy of any material information and the like provided by the Purchaser with
respect to the existing lift equipment not supplied by L-POA.

24

 

PART THREE OF THE THREE PART AGREEMENT

     This Part Three of the Three Part Agreement between the parties known as Mount Snow, Ltd.
(MSL) and Leitner-Poma of America (L-POA) hereby agree to the following clauses which pertain to
and affect both Part One and Two of this Agreement.

	34.	 	L-POA EMPLOYEES

	 	34.1	 	Employees retained by L-POA (including borrowed Purchaser’s employees) shall at
all times remain and are L-POA’s employees and shall not be the employees of Purchaser
for purposes of unemployment compensation, workers compensation, medical insurance or
retirement benefits.
	 
	 	34.2	 	Upon written or verbal notification to L-POA of an unsatisfactory employee,
Purchaser expects the L-POA to discipline the employee. L-POA shall then notify
Purchaser of the action taken.
	 
	 	34.3	 	L-POA shall ensure that its employees conduct themselves in responsible and
appropriate manner, abiding by all of Purchaser’s policies and practices related to the
Equal Employment Opportunity Commission’s and Vermont’s Fair Employment Practice laws
and regulations including all not limited to harassment. L-POA’s employees shall
maintain a neat appearance and professional manner while on the Purchaser’s premises.
	 
	 	34.4	 	L-POA shall not hire any current Purchaser employees without the express
written consent of the Purchaser unless employee approaches L-POA for hire without
being directly solicited by LPOA.
	 
	 	34.5	 	By written notice, Purchaser may require L-POA to remove from the work place
any of its employees or the employee of its subcontractors whom the Purchaser deems
incompetent, careless, or otherwise objectionable.

	35.	 	SAFETY

	 	35.1	 	L-POA is responsible for the safety of its employees (including borrowed
Purchaser’s

25

 

employees) on the Purchaser premises.

	 	35.2	 	L-POA shall insure that its employees and the employees of its Subcontractors
are notified of and observe and abide by all safety regulations and laws including all
OSHA and VOSHA standards, its own and the Purchasers safety standards and policies, and
any revisions of the foregoing that may hereinafter be applicable.
	 
	 	35.3	 	Said laws and regulations are minimum requirements for L-POA. L-POA shall take
any additional precautions necessary or proper under the circumstances to prevent
injury to or death of persons and/or damage to property. Compliance with such laws and
regulations by the L-POA, or requested by the Purchaser, shall not relieve the L-POA of
its obligations to use due care in performing the work required under this agreement.
	 
	 	35.4	 	L-POA shall immediately notify Purchaser of any damage to property and/or
injury to, or death of, persons which occurs in connection with or is in any way
related to the work. L-POA shall furnish the Purchaser a written report of the
aforesaid as soon as possible.

	36.	 	INFRINGMENT AND PATENT INDEMNITY BY L-POA

	 	36.1	 	L-POA shall indemnify and hold harmless the Purchaser, its owners, employees and
agents, from and against claims based on infringing the rights of others, including
patent, trademark or copyright rights by reason of the work performed hereunder. Such
indemnification shall include all legal fees related to these charges.
	 
	 	36.2	 	The Purchaser shall give L-POA prompt written notice of any action, claim or
threat of an infringement suit, either oral or written, relating to the work performed
hereunder by L- POA.
	 
	 	36.3	 	L-POA may elect to take over, settle or defend any such claim, action or suit
through counsel of the L-POA’s sole choice and under the L-POA’s sole direction and at
its own expense.
	 
	 	36.4	 	If the use of any such work or item or any part thereof should be enjoined, the
L-POA shall, at L-POA’s sole expense, take any of the following courses of actions:

1. To procure for the Purchaser the right to continue using such work or items, or

26

 

2. To replace said work or items with equal or superior noninfringing work or item;
or

3. To modify the work or item, so that it becomes noninfringing, provided such
modified work or item shall be equal or superior to the infringing work or item.

	37.	 	SITE PROTECTION; PERMIT CONDITIONS

	 	37.1	 	L-POA will preserve and protect all existing vegetation such as trees, shrubs
and grass on or adjacent to the site of work which is not to be removed and which does
not unreasonably interfere with the work. Care will be taken in removing trees
authorized for removal by Purchaser to avoid damage to vegetation. Any limbs or
branches of trees broken during such operations or by the careless operation of
equipment, or by work persons, shall be trimmed with a clean cut and painted with an
approved tree pruning compound and the tree debris removed by L-POA.
	 
	 	37.2	 	L-POA will protect from damage all existing structures, improvements or
utilities at or near the site of the work, and will repair or restore any damage to
such facilities resulting from failure to comply with the requirements of this contract
or the failure to exercise reasonable care in the performance of the work. If L-POA
fails or refuses to repair any such damage promptly the Purchaser may have the
necessary work performed and charge the cost thereof to L-POA or deduct the cost from
payments due or to become due to L-POA.
	 
	 	37.3	 	L-POA shall comply with conditions of all federal, state and local land use
permits pertaining to the Work on Purchaser’s premises provided L-POA is provided a
copy of any applicable permit before this Agreement is executed.

	38.	 	HAZARDOUS WASTE; INDEMNITY

	 	38.1	 	Under the Federal Water Pollution Control Act, certain spills of “oil” and/or
“hazardous substances” are prohibited and must be reported pursuant to the
requirements of 40 CFR Part 110 / Discharge of Oil. Certain spills of hazardous
substances must also be reported pursuant to CERCLA the Vermont Agency of Natural
Resources Division of Waste Management, and Purchaser.

27

 

	 	38.2	 	L-POA shall comply with all statutes, laws, ordinances, rules, regulations and
precautions now or hereafter mandated or advised by any federal, state, local or other
governmental agency with respect to its activities on the Purchaser’s premises related
to the use, generation, storage or disposal of hazardous, toxic, and regulated
materials. L-POA hereby indemnifies the Purchaser for all liability, including all
consequential damage, directly or indirectly, arising out of such use, generation,
storage and disposal. L-POA agrees to be responsible for disposal of all such
materials it is responsible for bringing on the premises.
	 
	 	38.3	 	L-POA agrees to be responsible for disposal of all such materials used and
stored on the Purchaser’s premises.

	39.	 	TIME IS OF THE ESSENCE; LIQUIDATED DAMAGES

	 	39.1	 	If the L-POA shall neglect, or refuse to complete the Work by November 9,
2011, as extended hereunder, which is n the time specified for Substantial
Completion in this Agreement, (except for reasons outlined in section 20 of the
Agreement) and such delay is not caused by change in specification or an act or
omission of Purchaser or its agents or representatives, L-POA does hereby agree,
as a part consideration for the awarding of this Agreement, to pay to the
Purchaser, as liquidated damages and not as a penalty for every day the Completion
Date is later than the Scheduled Completion Date, as follows; first seven days is
$2,500/day, next seven days is $5,000/day, and $10,000/day thereafter but in no
case will liquidated damages exceed five percent (5%) of the Contract Price in the
aggregate. The said amount is fixed and agreed on by and between L-POA and the
Purchaser because of the impracticability and extreme difficulty of fixing and
ascertaining the true value of the damages which the Purchaser will sustain by
failure of the L-POA to complete the Work on time, such as loss of revenue, loss
of and other damages, some of which are indefinite and not susceptible of easy
proof, said amount is agreed to be a reasonable estimate of the amount of damages
which the Purchaser will sustain and said amount shall be deducted from any monies
due or that may become due to L-POA and such amount shall be the entire damages
that Purchaser shall be entitled to recover due to L-POA failure to complete the
Lift on a timely basis and is in lieu of all other damages, special, general,
consequential or otherwise, to which Purchaser may be entitled pursuant to the
laws of the jurisdiction.

28

 

	40.	 	CLEANING UP AND CONDITIONS AFFECTING THE WORK

	 	40.1	 	L-POA shall at all times keep the work area, including storage areas used by it,
free from accumulations of waste material and rubbish. Prior to completion of the work,
L-POA shall be responsible for the removal of any and all waste and rubbish from and
about the premises, all tools, scaffolding, equipment and materials not the property of
the Purchaser. Upon completion of the work, L-POA shall leave the work area and
premises in a neat and workmanlike condition satisfactory to the Purchaser.

	41.	 	USE OF PURCHASER’S NAME OR LIKENESS

	 	41.1	 	L-POA shall treat as confidential all specifications, drawings, blueprints and
other information supplied by the Owner or obtained by the L-POA as result of
performance under this Contract unless such is in the public domain.
	 
	 	41.2	 	Prior to release of any information for publication that the work is being
performed by the L-POA for the Purchaser under this contract, or any advertisements
using the Purchaser’s name or likeness written permission must be obtained from the
owner.
	 
	 	41.3	 	The L-POA shall not disclose any information related to this contract to any
person not authorized by the owner, in writing, to receive same.
	 
	 	41.4	 	L-OA is not permitted to use Purchaser’s name, logo or identity in relations to
this project without the express written approval of the Purchaser.

29

 

	42.	 	EQUAL EMPLOYMENT OPPORTUNITIES

	 	42.1	 	L-POA agrees that it is its policy and that of its agents and
sub-contractors to seek and employ qualified personnel, to provide equal opportunities
for the advancement of employees, including upgrading, promotion and training and to
administer these activities in a manner which will not discriminate against any person
because of race, color, religion, ancestry, national origin, sex, place of birth, age,
disability, or sexual orientation.

	 	 	 	 	 	 	 

	PURCHASER:

	 	 
	 	L-POA:	 	 
	 
	 	 	 	 	 	 
	/s/ Kelly Pawlak
 

Kelly Pawlak

	 	 
	 	/s/ Richard W. Spear
 

Richard W. Spear
	 	 
	General Mgr.

	 	 	 	(title)	 	 

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Lift 17

LPA

			
	 	 	 
	Performance Specification
	 	Exhibit A

	 	 	 

	General Characteristics
	 	 
	 
	 	 
	Type of lift
	 	Detachable Chairlift: LPA
	 
	 	 
	Slope length
	 	7,385 ft
	 
	 	 
	Horizontal length
	 	7,208 ft
	 
	 	 
	Vertical rise of the line
	 	1,608 ft
	 
	 	 
	Average gradient of line
	 	22%
	 
	 	 
	Direction of operation
	 	CCW
	 
	 	 
	Design Characteristics
	 	 
	 
	 	 
	Speed
	 	1,000 ft/min
	 
	 	 
	Capacity
	 	2,400 pph
	 
	 	 
	Travel time
	 	7.4 min
	 
	 	 
	Number of carriers
	 	102
	 
	 	 
	Carrier spacing (approx.)
	 	150 ft
	 
	 	 
	Carrier interval (approx.)
	 	9.0 sec
	 
	 	 
	Carrier type
	 	Six place bubble chair with
retention bars and footrest
	 
	 	 
	Maximum loading conditions
	 	 
	 
	 	 
	Uphill
	 	100%
	 
	 	 
	Downhill
	 	25%

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	43

 

 

Lift 17

LPA

	 		
	Performance Specification
	 	Exhibit A

	 	 	 

	Drive Terminal
	 	 
	 
	 	 
	Model
	 	LPA
	 
	 	 
	Location
	 	Top
	 
	 	 
	Primary Drive
	 	 
	 
	 	 
	Type
	 	AC
	 
	 	 
	Capability
	 	100% load at 1,000 fpm
	 
	 	 
	Auxiliary Drive
	 	 
	 
	 	 
	Type
	 	Diesel engine
	 
	 	 
	Capability
	 	100% load at 800 fpm
	 
	 	 
	Evacuation Drive
	 	 
	 
	 	 
	Type
	 	Diesel engine
	 
	 	 
	Capability
	 	100% load at 400 fpm
	 
	 	 
	Return Terminal
	 	 
	 
	 	 
	Model
	 	LPA
	 
	 	 
	Location
	 	Bottom
	 
	 	 
	Parking
	 	Continuous looprail

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	44

 

 

Lift 17

LPA

			
	 	 	 
	Performance Specification
	 	Exhibit A

	 	 	 

	Tension
	 	 
	 
	 	 
	Type
	 	Hydraulic with two rams
	 
	 	 
	Active
	 	Bottom
	 
	 	 
	Passive
	 	Top Fixed
	 
	 	 
	Towers on line
	 	 
	 
	 	 
	Type
	 	Tubular with anchor bolts
	 
	 	 
	Size
	 	24"/30"/36" diameter
	 
	 	 
	Line Gauge
	 	5.6 m
	 
	 	 
	Cable
	 	 
	 
	 	 
	Diameter
	 	48 mm
	 
	 	 
	Structural Design Parameters
	 	 
	 
	 	 
	1) Wind with ice
	 	70 mph (113 kph) entire lift length
	 
	 	 
	 
	 	1" thickness — cables and structures
	 
	 	 
	 
	 	Density — .5 gram per cm3
	 
	 	 
	2) Wind (no ice)
	 	90 mph (145 kph) entire lift length (no ice)
	 
	 	 
	Soil bearing capacity
	 	Greater than 4000 psf

The hourly capacity and line speed are the main performance criteria of the lift and the
other performance specifications are dependent upon the final lift study.

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	45

 

 

Lift 17

LPA

			
	 	 	 
	Lift of Equipment Supplied
	 	Exhibit B

The following list describes all the parts and equipment supplied by Leitner-Poma and are
included in the contract price.

Top Drive Terminal

Complete drive motor room:

	 	 	 	 	 	 	 

	*	 	Drive frame, galvanized steel flooring, roof support and handrails
	 
	 	 	 	 	 	 
	*	 	Outdoor platform with handrails
	 
	 	 	 	 	 	 
	*	 	Equipment lifting beam and trolley along the full length of terminal
	 
	 	 	 	 	 	 
	*	 	Bullwheel with bullwheel retainer
	 
	 	 	 	 	 	 
	*	 	Gearbox: Poma Kissling 22L (3 inputs) with oil cooler
	 
	 	 	 	 	 	 
	Primary drive: AC electric
	 
	 	 	 	 	 	 
	 

	 	•
	 	Electric motor:
	 	AC — Reliance or equivalent
	 
	 	 	 	 	 	 
	 

	 	•
	 	Drive:
	 	AC Allen Bradley
	 
	 	 	 	 	 	 
	 

	 	•
	 	Design power:
	 	706 HP
	 
	 	 	 	 	 	 
	 

	 	•
	 	Supplied power:
	 	800 HP
	 
	 	 	 	 	 	 
	 

	 	•
	 	Transmission:
	 	Shaft Coupling
	 
	 	 	 	 	 	 
	Auxiliary drive: Detroit diesel engine (or equivalent), 2 @ 400 HP
	 
	 	 	 	 	 	 
	 	 	•	 	Torque converter: Twin Disc
	 
	 	 	 	 	 	 
	 	 	•	 	Remote start and automatic control
	 
	 	 	 	 	 	 
	 	 	•	 	Integrated U.L. tested fuel tank (320 gallons)
	 
	 	 	 	 	 	 
	Evacuation drive:
	 
	 	 	 	 	 	 
	 	 	•	 	One of the 400 HP engines supplied for auxiliary will be used for evac
	 
	 	 	 	 	 	 
	*	 	Guards and retention for moving mechanical parts
	 
	 	 	 	 	 	 
	*	 	Leitner-Poma service brake for smooth controlled deceleration
	 
	 	 	 	 	 	 
	*	 	Hydraulic emergency brakes on bullwheel with electric hydraulic pump
	 
	 	 	 	 	 	 
	*	 	Main electrical cabinet with high and low voltage controls
	 
	 	 	 	 	 	 
	*	 	Electrical wiring and conduit

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	46

 

 

Lift 17

LPA

			
	 	 	 
	Lift of Equipment Supplied
	 	Exhibit B

Complete terminal mechanisms: LPA

	*	 	Anchor bolts
	 
	*	 	Three supporting towers and crossarms with rollers: P1, P2 and P3
	 
	*	 	Three crossarms with fixed position mechanism
	 
	*	 	Strong terminal structure design with maintenance friendly accessibility
	 
	*	 	LPA acceleration-deceleration assembly with solid tires and single wide v-belt
	 
	*	 	Dual belted PTO’s with easy tension adjustment
	 
	*	 	Rear turnaround with tire and bevel gear transmission—Poma Patent
	 
	*	 	Dual speed cadencing system
	 
	*	 	Lexan covers for V-belt and bevel gear transmissions
	 
	*	 	All electrical low voltage monitoring and anti-collision system with 18 zones
	 
	*	 	Electric wiring and conduit
	 
	*	 	Wood underfloor

Full-size terminal roof:

	*	 	Complete terminal enclosure — 73 ft. overall length
	 
	*	 	Lexan tinted windows
	 
	*	 	Wooden terminal underskin
	 
	*	 	Insulated roof and siding
	 
	*	 	Electric heat, light and wiring
	 
	*	 	Galvanized stair access to terminal enclosure inclined at 20°
	 
	*	 	Ventilation at each end of station
	 
	*	 	Roof access for easy snow removal to avoid dripping and ice falls
	 
	*	 	Chair path brushes

Operators House

	*	 	Size: 10 x 14 ft
	 
	*	 	Electric heat, lights and distribution panels

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	47

 

 

Lift 17

LPA

			
	 	 	 
	Lift of Equipment Supplied
	 	Exhibit B

Line

	*	 	Anchor bolts cages
	 
	*	 	25 tubular towers with crossarms and lifting gantries rated for fully loaded cable
	 
	*	 	Galvanized catwalks with handrails on all crossarms
	 
	*	 	Galvanized Pomapasses for all sheave trains
	 
	*	 	Galvanized steel ladders with ski tip guards
	 
	*	 	Radial acceleration does not exceed 2.45 m/sec2
	 
	*	 	Ladder fall protection

Sheave trains

	*	 	50 Leitner-Poma Model 450 Wide support and compression sheaves
	 
	*	 	Sheave trains: Rubber brushed sheave rockers for low maintenance and smooth,
quiet ride
	 
	*	 	17.7” diameter sheaves with continuous loop Semperit liners
	 
	*	 	Sealed 6307 high speed bearings
	 
	*	 	Steel sheave train rockers
	 
	*	 	Aluminum sheave wheels
	 
	*	 	Snap ring only on inside of sheave; outside has reinforced flange
	 
	*	 	Inside derail “Ts” and outside steel cast cable catchers

Haul rope

	*	 	48 mm diameter wire rope, 15,180 feet supplied
	 
	*	 	Solid core
	 
	*	 	Right lang lay

Carriers (design quantity)

	*	 	102 six place bubble chairs, super-comfort model with bench padded seat, and full one
piece back cushions
	 
	*	 	102 Leitner-Poma Automatic grips with hangers
	 
	*	 	6 spare bubbles with opening and closing mechanisms
	 
	*	 	1 complete work platform with grip and hanger

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	48

 

 

Lift 17

LPA

			
	 	 	 
	Lift of Equipment Supplied
	 	Exhibit B

Bottom Return Terminal

Complete return terminal room:

	*	 	Return frame, galvanized steel flooring, roof supports and handrails
	 
	*	 	Outdoor platform with handrails
	 
	*	 	Return bullwheel with bullwheel retainer

Complete terminal mechanisms: LPA

	*	 	Anchor bolts
	 
	*	 	Three supporting towers and crossarms with rollers: P1, P2 and P3
	 
	*	 	Three crossarms with fixed position mechanism
	 
	*	 	Strong terminal design with maintenance friendly accessibility
	 
	*	 	LPA acceleration/deceleration assembly with solid tires and single wide v-belt Dual
belted PTO’s with easy tension adjustment
	 
	*	 	Rear turnaround with tire and bevel gear transmission-Poma Patent
	 
	*	 	Lexan covers for V-belt and bevel gear transmission
	 
	*	 	All electrical low voltage monitoring and anti-collision system with 18 zones
	 
	*	 	Electrical wiring and conduit
	 
	*	 	Six place loading gates

Full-size terminal roof:

	*	 	Complete terminal enclosure — 73 ft. overall length
	 
	*	 	Lexan tinted windows
	 
	*	 	Wooden terminal underskin
	 
	*	 	Insulated roof and siding
	 
	*	 	Electric heat, light and wiring
	 
	*	 	Galvanized stair access to terminal enclosure inclined at 20°
	 
	*	 	Grip maintenance work area
	 
	*	 	Chair path brushes
	 
	*	 	Roof access for easy snow removal
	 
	*	 	Insulated roofing and siding

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	49

 

 

Lift 17

LPA

			
	 	 	 
	Lift of Equipment Supplied
	 	Exhibit B

Operators House

	*	 	Size: 10 x 12 ft
	 
	*	 	Electric heat, lights and distribution panels

Tension

	*	 	Active hydraulic tensioning with two 11.5 ft. long rams with automatic electric pump
unit at Bottom terminal

Parking and Maintenance Rails

	*	 	100% parking for 102 six place bubble chairs with automatic gates at Bottom Terminal.
Mount Snow to provide parking enclosure.

Safety System

	*	 	Fault screen display and function keys
	 
	*	 	All lift functions are monitored and recorded on a 15” screen display
	 
	*	 	Individual tower fault locator system
	 
	*	 	Single Cable position monitors and brittle bar circuit
	 
	*	 	Fault annunciator display and by-pass system
	 
	*	 	Cadence fault synoptics and test system
	 
	*	 	Terminal safety switches
	 
	*	 	All proximity switches are constantly monitored and only require annual physical
check
	 
	*	 	Deceleration rate, time and distance can be displayed after every stop and compared
to acceptance test performance
	 
	*	 	Tachometers for cable and motor speed
	 
	*	 	15,180 ft. 37-pair figure-8 3/8 messenger communications cable and 7,590 ft. of 12
conductor single mode fiber optic cable (6 conductor available to customer)
	 
	*	 	Two track end safety gates with stands
	 
	*	 	Two wind speed and direction monitoring systems
	 
	*	 	Grip force monitoring at the arrival side of each terminal, in the spring extension
area

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	50

 

 

			
	 	 	 
	Lift 17

LPA
	 	Exhibit B
	 	 	 
	Lift of Equipment Supplied	 	 

Prewired Control Stations

	*	 	Main control desk with synoptics in drive operator house
	 
	*	 	Control station in drive terminal motor room
	 
	*	 	Control pedestal in loading area
	 
	*	 	Control station in return operator house
	 
	*	 	Control station on outside of return operator house
	 
	*	 	Control station in return terminal room
	 
	*	 	Sound powered telephones at control stations with headset in motor room
	 
	*	 	Batteries are charged with Newmar regulated chargers

Special Tools (included)

	*	 	Tool Cabinet with engraved hand tool set
	 
	*	 	Sheave Compression tool for 450/550 model sheaves
	 
	*	 	Grip Depressing tool
	 
	*	 	Grip Force Calibrator
	 
	*	 	Grip Slip Test Tool
	 
	*	 	Grip Mandrel
	 
	*	 	Brake Test Sling
	 
	*	 	Hydraulic Belt Tensioner
	 
	*	 	Crossarm Wire Rope Assembly

Spare Parts (included)

	*	 	Recommended stock of spare parts for $20,000 US, spare parts shipped 60 days after
receipt of customer approved list.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	51

 

 

			
	 	 	
	 
	Lift 17

LPA
	 	 
	 	 	 
	Lift of Equipment Supplied
	 	Exhibit B

Component Finishes

	 	 	 	 	 

	*

	 	Chairs:
	 	Galvanized**
	 
	 	 	 	 
	*

	 	Hangers:
	 	Galvanized**
	 
	 	 	 	 
	*

	 	Line Crossarms:
	 	Galvanized**
	 
	 	 	 	 
	*

	 	Lifting gantries:
	 	Galvanized**
	 
	 	 	 	 
	*

	 	Sheave assemblies:
	 	Galvanized
	 
	 	 	 	 
	*

	 	Sheave Train Pomapasses:
	 	Galvanized
	 
	 	 	 	 
	*

	 	Line towers:
	 	Galvanized**
	 
	 	 	 	 
	*

	 	Cable:
	 	Galvanized
	 
	 	 	 	 
	*

	 	Terminal Crossarms:
	 	Galvanized
	 
	 	 	 	 
	*

	 	Terminal towers:
	 	Galvanized**
	 
	 	 	 	 
	*

	 	Terminal enclosures:
	 	Industrial Enamel Paint
	 
	 	 	 	 
	*

	 	Operator houses:
	 	Industrial Enamel Paint
	 
	 	 	 	 
	*

	 	Grips:
	 	Flame spray

Estimated concrete volume

	 	 	 

	*

	 	Drive terminal: 120 cubic yards, maximum height 8 ft. above grade
	 
	 	 
	*

	 	Line towers: 285 cubic yards
	 
	 	 
	*

	 	Return terminal: 80 cubic yards, maximum height 8 ft. above grade

Concrete volumes that vary from above amounts may result in change orders that affect price.

 

			
	**	 	Please note when galvanized options are selected the appearance may vary due to chemistry of
steel.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	52

 

 

			
	 	 	 
	Lift 17

LPA
	 	Exhibit C
	 	 	 
	Leitner-Poma Services and Responsibilities	 	 

Leitner-Poma’s price includes the following:

	1.	 	Accurate initial ground survey profile of the lift line (if
necessary).
	 
	2.	 	All necessary technical information about the Lift for permit applications.
	 
	3.	 	Complete engineering study of the lift.
	 
	4.	 	All mechanical subassembly and assembly drawings and all electrical schematics
necessary for installation and maintenance.
	 
	5.	 	Design engineering certification to meet or exceed ANSI B77.1 2006.
	 
	6.	 	Two operation and maintenance manuals.
	 
	7.	 	Construction insurance for the Work.
	 
	8.	 	Lay out and staking of terminal and tower foundation holes.
	 
	9.	 	Excavation and backfill to rough grade by excavator on all terminal foundation
holes.
	 
	10.	 	Excavation and backfill to rough grade by excavator or by hand if required on all
tower foundation holes.
	 
	11.	 	Installation of anchor bolts and reinforcing steel.
	 
	12.	 	Installation and supply of concrete for top and bottom terminal foundations by
land.
	 
	13.	 	Installation and supply of concrete for the line tower foundations by land or by
helicopter where necessary.
	 
	14.	 	Factory preassembly, pre-wiring and adjustment of acceleration/deceleration and
rear turnaround mechanism.
	 
	15.	 	Factory preassembly, pre-wiring and adjustment of drive, tension and cadencing
mechanisms.
	 
	16.	 	Installation of top and bottom terminals by crane.
	 
	17.	 	Installation of line towers by crane or by helicopter where necessary.
	 
	18.	 	If solid core rope is selected, installation and splicing of haul rope including
supply of splicer if re-splice is necessary within first operating
season.
	 
	19.	 	Installation of communications line.
	 
	20.	 	Supply and install necessary cabling and conduits from the service entrance
panel boards located on the operator buildings to terminals.
	 
	21.	 	Installation of carriers.
	 
	22.	 	As-built survey of the line.
	 
	23.	 	Construction engineering certification.
	 
	24.	 	Adjustment and start up of the lift.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	53

 

 

			
	 	 	
	 
	Lift 17

LPA
	 	
	 	 	 
	Leitner-Poma Services and Responsibilities
	 	Exhibit C

	25.	 	Acceptance test supervision.
	 
	26.	 	On site technical assistance for 7 days after load test, lodging supplied by customer.
	 
	27.	 	First year inspection of the complete installation.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	54

 

 

			
	 	 	 
	Lift 17

LPA
	 	Exhibit D
	 	 	 
	Purchaser’s Services and Responsibilities	 	 

The following conditions and
services are supplied by the Purchaser. All the following
conditions and services are excluded from the Leitner-Poma supplies and Contract Price.

	1.	 	Removal of existing structure, if any before May 1, 2011.
	 
	2.	 	Soil engineering if necessary and additional construction costs if soil pressure is
lower than 4000 PSF.
	 
	3.	 	Drainage where necessary to be completed 30 days before acceptance test.
	 
	4.	 	Preliminary clearing of the lift line to allow accurate ground survey profile before
May 1, 2011.
	 
	5.	 	Final clearing of the lift line as required by code for final tower location staking.
	 
	6.	 	Grading of lift terminal areas as required by design (especially; maze, loading and
unloading ramps.) Ramp areas must be completed 30 days prior to acceptance test
and provisions made for muddy areas.
	 
	7.	 	Sediment fencing for excavations.
	 
	8.	 	Leitner-Poma supplied lift house: Supply and install necessary cabling and conduits
to the Leitner-Poma supplied service entrance panel boards located on the operator
buildings. Provide all electrical permits and qualified personnel to install this
equipment, and if required by governing jurisdiction all special inspection costs such
as ground fault testing for equipment, U.L. Certification. Lift house must be complete
30 days before load test.
	 
	9.	 	Main power (480 VAC, 3 phase) with main disconnect at drive and return operator
house for final adjustment 30 days prior to Acceptance Test.
	 
	10.	 	Five laborers to work with splicer.
	 
	11.	 	One of purchaser’s electricians will work with Leitner-Poma at the site for wiring,
adjustment and test of the electrical lift components, 40 hours a week, during the last
three weeks before load test.
	 
	12.	 	Ballast, labor for the load test, and adequate electric power when required.
	 
	13.	 	Base parking lot and access for material storage and lift construction staging and assembly.

	 
	14.	 	Any fire protection required by appropriate regulatory agencies.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	55

 

 

			
	 	 	
	 
	Lift 17

LPA
	 	 
	 	 	 
	Purchaser’s Services and Responsibilities
	 	Exhibit D

	15.	 	Obtaining of all construction permits and approvals necessary in connection with
the Lift and the Work.
	 
	16.	 	Adequate land access to top and bottom terminal from June 1 until completion of project.
	 
	17.	 	Re-landscaping and re-vegetation.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	56

 

 

			
	 	 	 
	Lift 17

LPA
	 	Exhibit E
	 	 	 
	Payment Schedule	 	 

	*	 	Five percent (5%), Three Hundred Sixty Six Thousand, One Hundred Ninety Two Dollars,
($366,192) is due and payable on signing of the Agreement
	 
	*	 	Fifteen percent (15%), One Million, Ninety Eight Thousand, Five Hundred Seventy
Four Dollars, ($1,098,574) is due and payable on approval of the design profile by the
Purchaser
	 
	*	 	Twenty percent (20%), One Million, Four Hundred Sixty Four Thousand, Seven Hundred
Sixty Six Dollars ($1,464,766) is due and payable on completion of the foundations
	 
	*	 	Twenty percent (20%), One Million, Four Hundred Sixty Four Thousand, Seven Hundred
Sixty Six Dollars ($1,464,766) is due and payable on Delivery of the towers,
crossarms and line machinery
	 
	*	 	Fifteen percent (15%) One Million, Ninety Eight Thousand, Five Hundred Seventy
Five Dollars, ($1,098,575) is due and payable on Delivery of the drive and return, system
components (primary drive, auxiliary drive, gear reducer, tension system)
	 
	*	 	Fifteen percent (15%), One Million, Ninety Eight Thousand, Five Hundred Seventy
Four Dollars, ($1,098,574) is due and payable on Delivery of drive and return terminal
mechanisms
	 
	*	 	Five percent (5%), Three Hundred Sixty Six Thousand, One Hundred Ninety Two Dollars
($366,192) is due and payable on Delivery of carrier components
	 
	*	 	Five percent (5%), Three Hundred Sixty Six Thousand, One Hundred Ninety One Dollars
($366,191) is due and payable upon execution of the Certificate of Substantial
Completion.

	 	 	 	 	 

	Exhibits for Mount Snow Resort
	 	 	 	 
	March 8, 2011

	 	Quality + Simplicity = Reliability
	 	57

 

 

			
	 	 	 
	Lift 17
LPA
	 	Exhibit F

Equipment Supplied for Yankee Clipper

The following Equipment and Responsibilities are included with this Agreement:

	*	 	172 Quad chairs with padded seat and back cushions, safety bails with footrest and special
hanger including refurbishment of chair heads to insure proper bolt fit in new hangers
	 
	 	 	Mount Snow is responsible for removal and disposal of existing chairs. Mount Snow is responsible
for the removal of existing chair heads and shipping them to Grand Junction, CO to refurbish and
install in new hanger. Mount Snow is responsible for assembly and installation of new chairs
	 
	*	 	Enclosure for Yankee Clipper including equipment, engineering, labor, travel expenses and
rental equipment.
	 
	 	 	Mount Snow is responsible for heat and lights and inside walkways
	 
	*	 	Six 1-4-1 Sheave Assemblies
	 
	 	 	Mount Snow is responsible for installation.
	 
	*	 	Mount Snow is responsible for shipping cost of the above items.

It is expressly understood that L-POA shall have no responsibility or liability whatsoever for the
failure of any of the components of the existing lift that were not supplied by L-POA. It is
further understood that the integration of new L-POA equipment into the existing lift equipment is
the decision of the Purchaser alone.

The Purchaser agrees to indemnify and hold harmless L-POA from any claims arising from the failure
of the existing lift equipment that was not supplied by L-POA and from any resultant personal
injury or property damage, including damages caused by inaccuracy of any materials, information and
the like provided by the Purchaser with respect to the existing lift equipment not supplied by
L-POA

L-POA will warranty and be liable only for L-POA equipment, and claims arising from this equipment,
provided that any lift failure and resulting claim is caused solely by a defect in the L-POA
equipment.

					
	 	 	 	 	 
	Exhibits for Mount Snow Resort	 	 	 	 
	March 8, 2011
	 	Quality + Simplicity = Reliability
	 	58

 

 

Certificate of Substantial Completion

Exhibit G

	 	 	 

	Contract for:

	 	The sale of Equipment, Installation and Services
	Contract Date:

	 	March 8 2011

This Certificate of Substantial Completion applies to all Work under the Contract Documents or to
the following specified parts thereof:

Lift: Lift 17

Mount Snow Resort (Purchaser) and Leitner-Poma of America, Inc. (Seller)

The Work to which this Certificate applies has been inspected by authorized representatives of the
Purchaser and Seller, and that Work is hereby declared to be substantially complete in accordance
with the Contract Documents and approved for public operation by the governing authorities.

Date of Substantial Completion: November 9, 2011

A Deficiency List of items to be completed or corrected is attached hereto. The items on this
Deficiencies List shall be completed or corrected by Seller within the dates specified for each
item, and for an accounting event shall be valued at the reasonable amount specified. Any item not
specifically noted on the Deficiency List at the above date of Substantial Completion shall fall
under the rectifications provided for under Warranty Conditions, as more particularly described in
the Contract Documents.

This certificate does not constitute an acceptance of Work not in accordance with the Contract
Documents nor is it a release of Seller’s obligation to complete the Work in accordance with the
Contract Documents.

Seller
accepts this Certificate of Substantial Completion on          day of                     ,
2011.

Leitner-Poma
of America, Inc. by
                                        

Purchaser accepts this Certificate of Substantial Completion on
                     day of
                    , 2011.

Purchaser
by                                        

Quality + Simplicity = Reliability

59

 

Punch List

Exhibit H

	 	 	 	 	 

	Date of Substantial Completion:

	 	 
 

	 	 
	 
	 	 	 	 
	Compiled and Initialed by:
	 	 	 	 
	 

	 	 

for Purchaser
	 	 
	 
	 	 	 	 
	Compiled and Initialed by:
	 	 	 	 
	 

	 	 

for Contractor
	 	 

	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	Punch Item

	 	 	To Be Completed By
	 	 	Reasonable Value	 
	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 

	 	 	 
	 	 	 	 

Quality + Simplicity = Reliability

60

 

Milestones

Exhibit I

The following are milestones for Lift: 17

If Purchaser does not achieve one or more of the milestones by the applicable date, L-POA cost of
its Work may increase and/or L-POA may be delayed in achieving the Scheduled Completion Date. This
may result in a change order increasing the Contract Price and/or moving back the Scheduled
Completion Date.

Purchaser Milestones:

	 	 	 	 	 
	•

	 	Color Sheet Approval
	 	April 22, 2011
	 
	 	 	 	 
	•

	 	Obtain Permits and authorization to allow construction to begin
	 	May 1, 2011
	 
	 	 	 	 
	•

	 	Profile Approval (within 3-5 days of receipt)
	 	May 16, 2011
	 
	 	 	 	 
	•

	 	Lift House Layouts Approval
	 	June 1, 2011
	 
	 	 	 	 
	•

	 	Power supplied to all Terminal Sites
	 	October 1, 2011
	 
	 	 	 	 
	•

	 	Terminal and Station grading completed
	 	After completion of terminal foundations
	 
	 	 	 	 
	•

	 	Load and Unload platform grading completed
	 	After structures are in place
	 
	 	 	 	 
	•

	 	Drive Lift House Completed
	 	N/A
	 
	 	 	 	 
	•

	 	Return Lift House Completed
	 	N/A
	 
	 	 	 	 
	•

	 	Purchaser agrees to provide to L-POA a list of load test attendees
(minimum of 1 person) 6 weeks before scheduled load test.	 	 
	 
	 	 	 	 
	•

	 	Load test Attendees (To be decided 6 weeks prior to load test date):	 	 

1 Minimum Required attendant from
                                        
.

	 	 	 

	 

	 	 
	(Purchaser Representative)

	 	(Purchaser Representative)

Leitner-Poma Milestones:

	 	 	 	 	 

	•

	 	Survey Start (1 week)
	 	May 1, 2011
	 
	 	 	 	 
	•

	 	Submit preliminary design package to authority having jurisdiction
	 	May 1, 2011
	 
	 	 	 	 
	•

	 	Complete Profile
	 	May 15, 2011
	 
	 	 	 	 
	•

	 	Begin construction activities
	 	May 16, 2011
	 
	 	 	 	 
	•

	 	Start Excavation
	 	July 1, 2011

Quality + Simplicity = Reliability

61

 

Enclosure Plan

Exhibit J

Leitner-Poma of America to supply and install enclosure for the Grand Summit Express,
reference print #41011 including roof, windows and underskin.

Quality + Simplicity = Reliability

62

 

Price Calculation

Exhibit K

The following prices include freight on board to West Dover, VT. Each price excludes sales
and local tax.

Lift 17

	 	 	 	 	 

	The total amount of Leitner-Poma supplies including
Equipment, Engineering and Services as
described in Exhibits A, B, C, D, and F 
	 	$	6,880,000.00	 

Options:

	 	 	 	 	 	 	 

	*	 	AC Drive — 800 hp Addition
	 	$	84,400.00	 
	 	 	 
	 	 	 	 
	*	 	Lift Houses Addition
	 	$	102,800.00	 
	 	 	Drive —    Size: 10 x 14 — ligths and heat

Concrete foundation
	 	 	 	 
	 	 	Return — Size: 10 x 12 — lights and heat

Concrete foundation
	 	 	 	 
	 	 	 
	 	 	 	 
	*	 	100% parking rails for 102 chairs Addition 

Parking enclosure by Area
	 	$	256,630.00	 

Quality + Simplicity = Reliability

63

 

Leitner-Poma Warranties 2011

Exhibit L

The following warranties are included:

	1.	 	The lift design and engineering, for the codes that are applicable at the time of
original installation, are warranted for the life of the lift.
	 
	2.	 	The lift equipment manufactured by Leitner-Poma and its subcontractors is warranted
against defects in workmanship and materials as follows:

	 	 	 	 	 	 	 

	 

	 	•
	 	Poma Kissling Gearbox (excluding seals)
	 	5 years or 7,500 hours
	 
	 	 	 	 	 	 
	 

	 	•
	 	All other Leitner-Poma lift components
	 	2 years or 3,000 hours,
which ever occurs first

	3.	 	The accessory equipment supplied by other manufacturers are warranted against
defects in workmanship and materials according to the pass-through warranties of each
manufacturer at the time of the original installation.

	 	 	 
	 	 	Typical
	Electric motors

	 	1 year
	Electric controls

	 	1 year
	 
	 	 
	Diesel engines, transmissions

	 	1 year
	Shafts

	 	1 year
	Belts

	 	1 year
	Tires, solid

	 	2 years
	Haul rope

	 	5 years

Quality + Simplicity = Reliability

64Exhibit 10.1

Exhibit
10.1

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated April 18, 2011, between AMICUS
THERAPEUTICS, INC., a Delaware corporation having an office at 6 Cedar Brook Drive, Cranbury, New
Jersey 08512 (the “Company”), and JOHN F. CROWLEY, an individual residing at 15 Leonard Court,
Princeton, NJ 08540 (“Employee”).

PREAMBLE

WHEREAS, the Employee presently serves as the Chairman and Chief Executive Officer of the
Company; and

WHEREAS, following the execution of this Agreement, the Employee will cease to serve as the
Company’s Chief Executive Officer, but will remain employed by the Company as its Executive
Chairman pursuant to the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good
and valuable consideration, the sufficiency and receipt whereof is hereby acknowledged, the parties
agree as follows:

Section 1. Definitions. Unless otherwise defined herein, the following terms shall
have the following respective meanings:

“Cause” means for any of the following reasons: (i) willful or deliberate misconduct
by Employee that materially damages the Company; (ii) misappropriation of Company assets; (iii)
Employee’s conviction of or a plea of guilty or “no contest” to, a felony; or (iv) any willful
disobedience of the lawful and unambiguous instructions of the Board of Directors of the Company;
provided that the Board of Directors has given Employee thirty (30) days written notice of such
disobedience or neglect and Employee has failed to cure such cause. For avoidance of doubt, a
termination of Employee’s employment hereunder due to an expiration of the Employment Term (as
defined below) or due to Employee’s Disability (as defined below) will not constitute a termination
without Cause.

“Change in Control Event” means any of the following (i) any person or entity (except
for a current stockholder who was a stockholder prior to the Company’s initial public offering)
becomes the beneficial owner of greater than 50% of the then outstanding voting power of the
Company; (ii) a merger or consolidation with another entity where the voting securities of the
Company outstanding immediately before the transaction constitute less than a majority of the
voting power of the voting securities of the Company or the surviving entity outstanding
immediately after the transaction, or (iii) the sale or disposition of all or substantially all of
the Company’s assets.

 

 

 

Section 2. Employment.

Subject to the terms and conditions of this Agreement, Employee is hereby employed by the
Company to serve as its Executive Chairman. Employee accepts such employment, and agrees to
discharge all of the duties normally associated with such position,
including, without limitation, key executive mentoring and leadership, participation in
business strategy sessions and advice regarding day-to-day management and maintenance of key
outside business and other relationships; to faithfully and to the best of his abilities perform
such other services consistent with his position as a senior executive officer as may from time to
time be reasonably assigned to him by the Board of Directors of the Company and to devote at least
twenty (20) hours a week and the skill and attention necessary to carry out such duties and
services. Notwithstanding the foregoing, however, Employee may serve on the boards of directors of
other companies, and in civic, cultural, philanthropic and professional organizations, so long as
such service does not detract from the performance of Employee’s duties hereunder, such
determination to be made by the Board of Directors in its sole discretion. Employee may continue
service as an officer, U.S. Navy Reserve, and any periods of active duty service shall not result
in any reduction in compensation or benefits payable to Employee under Section 3 of this Agreement.
At all times during which Employee remains Executive Chairman of the Company, Employee shall serve
as a member of the Company’s Board of Directors and, at the request of the Company’s Board of
Directors, as an officer or director of any Company affiliate, in each case without additional
remuneration therefor.

Section 3. Compensation and Benefits.

3.1 Base Salary. During the Employment Term (as defined in Section 5 hereof), the
Company shall pay Employee a salary at the annual rate of $272,500 pursuant to the terms hereof
(the “Base Salary”). The Base Salary shall be payable in accordance with the Company’s customary
payroll practices for its senior management personnel.

3.2 Bonus. During the Employment Term, Employee shall not be eligible to participate
in the Company’s bonus programs in effect with respect to senior management personnel.

3.3 Benefits

(a) Benefit Plans. During the Employment Term, Employee may participate, on the
same basis and subject to the same qualifications as other senior management personnel of the
Company, in the Company’s insured group health plans.

(b) Reimbursement of Expenses. During the Employment Term, the Company shall pay
or promptly reimburse Employee, upon submission of proper invoices in accordance with the
Company’s normal procedures, for all reasonable out-of-pocket business, entertainment and travel
expenses incurred by Employee in the performance of his duties hereunder. Any taxable
reimbursement of business or other expenses as specified under this Agreement shall be subject
to the following conditions: (1) the expenses eligible for reimbursement in one taxable year
shall not affect the expenses eligible for reimbursement in any other taxable year; (2) the
reimbursement of an eligible expense shall be made no later than the end of the calendar year
after the year in which such expense was incurred; and (3) the right to reimbursement shall not
be subject to liquidation or exchange for another benefit.

 

2

 

(c) Special Medical Expense Allowance. During the Employment Term, the Company
will pay to Employee a special bonus of $150,000 per month. This amount is intended to help
defray the substantial out-of-pocket medical expenses expected to be incurred by Employee,
Employee’s spouse and Employee’s dependents from and after January 1, 2011 (“Medical
Expenses”). This amount shall be paid to Employee on the first day of each calendar month
with respect to that calendar month and will be subject to tax withholding when paid. Within
fifteen (15) days after the end of each calendar quarter, the Employee shall submit receipts
evidencing the Medical Expenses incurred during that calendar quarter to an auditing firm to be
selected by the Company in its sole discretion (the “Auditors”). The Auditors shall
review such receipts to determine whether the Medical Expenses meet the definition of “medical
expenses” pursuant to the then applicable U.S. Treasury regulations (“Allowable
Expenses”) and provide the Company and Employee with a report detailing its conclusions (the
“Auditors’ Report”) within forty-five (45) days of the end of such quarter. The
Auditors’ shall provide the Company and the Employee with an Auditors’ Report relating to the
previously-ended calendar year (“Year-End Auditors’ Report”) by March 1, which report
will detail the Allowable Expenses for that year. All reports of the Auditors shall be
delivered to the Chairman of the Company’s Audit Committee of the Board of Directors and the
Company’s Chief Accounting Officer. If the Allowable Expenses for the year are less than the
amounts paid by the Company to Employee for that year under this paragraph (net of taxes paid in
respect of such amounts, which for this purpose will be deemed to equal [46%] of such amounts),
then Employee will reimburse such difference to the Company within thirty (30) days following
the date of the Year End Auditors’ Report.

(d) Vacation. During the Employment Term, Employee shall be entitled to paid
vacation days in such number as is reasonable and customary for the position of Executive
Chairman.

(e) Withholding. The Company shall be entitled to withhold from amounts payable or
benefits accorded to Employee all federal, state and local income, employment and other taxes,
as and in such amounts as may be required by applicable law.

3.4 Extension of Post-Termination Option Exercise Period. Each stock option that is
identified on the attached Schedule A and that is outstanding at the time of any cessation
of Employee’s service to the Company (other than a termination by the Company for Cause) will, to
the extent exercisable at the time of such cessation (determined after giving effect to any
acceleration of vesting under Section 5.3 or 5.4 or otherwise), remain outstanding and exercisable
until the applicable expiration date specified on that Schedule A. Notwithstanding the
foregoing, this paragraph will not (x) cause any stock option to remain outstanding beyond the end
of its original term, or (y) prevent the Company from causing the earlier termination, assumption,
substitution or cashout of any stock option in accordance with the terms of such award, or of the
plan under which such award was granted, solely with respect to the treatment thereof in a change
in control of the Company or similar corporate event or transaction. For avoidance of doubt, to
the extent not exercisable at the time of any cessation of Employee’s service to the Company
(determined after giving effect to any acceleration of vesting under Section 5.3 or 5.4 or
otherwise), each of Employee’s options to acquire stock of the Company
will then automatically terminate. This paragraph constitutes an amendment to the terms of
each stock option identified on the attached Schedule A.

 

3

 

Section 4. Employment Term. The term of this Agreement (the “Employment
Term”) shall begin upon its execution and end on the close of business on September 30, 2011.
The Employment Term may be extended for up to an additional three month period upon the mutual
written consent of the parties prior to the expiration of the Employment Term. Employee’s
employment hereunder shall be coterminous with the Employment Term, unless sooner terminated as
provided in Section 5.

Section 5. Termination; Severance Benefits.

5.1 Generally. Either the Board of Directors of the Company or Employee may terminate
Employee’s employment hereunder, for any reason, at any time prior to the expiration of the
Employment Term, upon three (3) days prior written notice to the other party. Upon termination of
Employee’s employment hereunder for any reason, including without limitation expiration of the
Employment Term, Employee shall be deemed simultaneously to have resigned as a member of the Board
of Directors of the Company and from any other position or office he may at the time hold with the
Company or any of its affiliates. In addition, upon termination of Employee’s employment hereunder
for any reason, including without limitation expiration of the Employment Term, the Company shall
(i) reimburse the Employee for any expenses properly incurred under Section 3.3 (b) and which have
not previously been reimbursed as of the effective date of the termination, and (ii) pay Employee
for any accrued, but unused, vacation time as of the effective date of the termination. The
payments by the Company relating to (i) and (ii) above shall be payable in a lump sum on the
effective date of the termination of Employee’s employment with the Company.

5.2 Termination by Employee.

If, prior to the expiration of the Employment Term, Employee voluntarily resigns from his
employment, Employee shall (i) receive no further Base Salary hereunder, other than accrued and
unpaid Base Salary through and including the effective date of termination of his employment with
the Company (the “Accrued Compensation”) and (ii) cease to be covered under or be permitted to
participate in or receive any of the benefits described in Section 3.3 hereof.

5.3 Termination by the Company.

(a) Without Cause. If, prior to the expiration of the Employment Term, the Company
terminates Employee’s employment hereunder without Cause then Employee shall be entitled to
receive (i) continued payment of Employee’s then current Base Salary in accordance with the
Company’s customary payroll practices then in effect for its senior management personnel, and
(ii) continued payment of the special medical expense allowance described in Section 3.3(c), in
each case for a period of nine (9) months commencing upon the effective date of the termination
of Employee’s employment with the Company, subject to Sections 5.6 and 5.7(b). In addition, if
Employee elects COBRA continuation of his insured group health benefits, the Company will
contribute an amount
toward the monthly cost of such coverage equal to the Company’s share of the monthly
premiums (at the time of termination) for the benefits provided under Section 3.3(a) hereof for
a period of nine (9) months. In addition, the vesting of stock options held by Employee
immediately prior to such termination shall accelerate such that the portion of those options
that was otherwise scheduled to vest during the nine month period immediately following such
termination (had Employee remained employed with the Company for that period) will become vested
as of the date of such termination.

 

4

 

(b) For Cause. If, prior to the expiration of the Employment Term, the Company
terminates Employee’s employment hereunder for Cause, Employee shall (i) receive no further Base
Salary hereunder, other than Accrued Compensation which shall be payable on the effective date
of the termination of Employee’s employment with the Company and (ii) cease to be covered under
or be permitted to participate in or receive any of the benefits described in Section 3.3
hereof; provided, however, that if Employee is terminated for Cause hereunder
solely as a result of being convicted of a felony, which conviction is ultimately reversed on
appeal or pardoned, Employee shall be deemed to have been terminated without Cause as of the
date of such termination for Cause.

5.4 Termination in Connection with a Change in Control Event.

(a) If, prior to the expiration of the Employment Term, the Company terminates Employee’s
employment hereunder without Cause and a Change in Control Event occurs within three months
following that termination, the period of salary and special medical expense allowance
continuation and COBRA premium subsidiary described above in Section 5.3(a) will be extended
from nine (9) to 18 months.

(b) Similarly, if prior to the expiration of the Employment Term, a Change in Control Event
occurs and the Company thereafter terminates Employee’s employment hereunder without Cause, then
in lieu of any benefits under Section 5.3(a) hereof, Employee shall be entitled to receive (i)
continued payment of Employee’s then current Base Salary in accordance with the Company’s
customary payroll practices for its senior management personnel, and (ii) continued payment of
the special medical expense allowance described in Section 3.3(c), in each case for a period of
eighteen (18) months commencing upon the effective date of the termination of Employee’s
employment with the Company, subject to Sections 5.6 and 5.7(b). In addition, if Employee
elects COBRA continuation of his insured group health benefits, the Company will contribute an
amount toward the monthly cost of such coverage equal to the Company’s share of the monthly
premiums (at the time of termination) for the benefits provided under Section 3.3(a) hereof for
a period of 18 months. In addition, any stock options held by Employee immediately prior to
such termination shall then vest in full.

5.5 Termination upon Death or Disability. Employee’s employment hereunder shall
terminate upon death of Employee. The Company may terminate Employee’s employment hereunder in the
event Employee is disabled. “Disability” shall be defined as the inability of Employee to render
the services required of him, with or without a reasonable accommodation, under this Agreement as a
result of physical or mental incapacity. In the event of any such termination, Employee shall (i)
receive no further Base Salary hereunder, other than
the Accrued Compensation, and (ii) cease to be covered under or be permitted to participate in
or receive any of the benefits described in Section 3.3 hereof.

 

5

 

5.6 Release Required. As a condition precedent to the receipt of any right, payment
or benefit under Sections 3.4, 5.3(a) and/or 5.4, Employee must execute and deliver to the Company
a release, the form and substance of which are acceptable to the Company, and such release must
become irrevocable, within 45 days following the effective date of termination of Employee’s
employment. Any right, payment or benefit under Section 5.3(a) or 5.4 that would otherwise be paid
before such release becomes irrevocable will instead be delayed and paid to Employee in a lump sum
within 15 days after such release becomes irrevocable (and the remaining payments will be made as
otherwise scheduled in the ordinary course). Notwithstanding the foregoing, if the 60 day period
immediately following the effective date of termination of Employee’s employment overlaps two
calendar years, then any such right, payment or benefit that would otherwise be paid before the
later of (i) the date such release becomes irrevocable, or (ii) the last day of the year in which
such termination occurs (such later date, the “Applicable Date”) will instead be delayed and paid
to Employee in a lump sum on the first regularly scheduled payroll date following the Applicable
Date (and the remaining payments will be made as otherwise scheduled in the ordinary course). If
the release has not become irrevocable within 45 days following the effective date of the
termination of Employee’s employment, Employee will forfeit any right, payment or benefit otherwise
due under Sections 3.4, 5.3(a) and/or 5.4.

5.7 Section 409A.

(a) Purpose. This section is intended to help ensure that compensation paid or
delivered to the Employee pursuant to this Agreement either is paid in compliance with, or is
exempt from, Section 409A of the Internal Revenue Code of 1986, as amended and the rules and
regulations promulgated thereunder (collectively,
“Section 409A”). However, the Company does not
warrant to the Employee that all compensation paid or delivered to him for his services will be
exempt from, or paid in compliance with, Section 409A.

(b) Amounts Payable On Account of Termination. For the purposes of determining when
amounts otherwise payable on account of the Employee’s termination of employment under this
Agreement will be paid, which amounts become due because of his termination of employment,
“termination of employment” or words of similar import, as used in this Agreement, shall be
construed as the date that the Employee first incurs a “separation from service” for purposes of
Section 409A on or following termination of employment. Furthermore, if the Employee is a
“specified employee” of a public company as determined pursuant to Section 409A as of his
termination of employment, any amounts payable on account of his termination of employment which
constitute deferred compensation within the meaning of Section 409A and which are otherwise
payable during the first six months following the Employee’s termination (or prior to his death
after termination) shall, to the extent necessary to avoid the imposition of additional taxes
under Section 409A, be paid to the Employee in a cash lump-sum on the earlier of (1) the date of
his death and (2) the first business day of the seventh calendar month immediately following the
month in which his termination occurs.

 

6

 

(c) Interpretative Rules. In applying Section 409A to amounts paid pursuant to this
Agreement, any right to a series of installment payments under this Agreement shall be treated
as a right to a series of separate payments.

(d) Deferred Compensation Taxes. Notwithstanding any other provisions of
this Agreement, in the event that any payment or benefit under this Agreement received or to be
received by the Employee (the “Payment”) is determined to be subject (in whole or part)
to the penalties imposed by Section 409A (the
“Additional  Taxes”), then the Employee shall be
entitled to receive an additional payment (a “Gross-Up
Payment”) in an amount such that after
payment by the Employee of the Additional Taxes, the Employee retains an amount equal to the
Payment net of any applicable taxes and withholdings other than Additional Taxes. All
determinations required to be made under this provision, including whether and when a Gross-Up
Payment is required, the amount of such Gross-Up Payment and the assumptions to be utilized in
arriving at such determination, shall be made by the Company’s accountants or such other
certified public accounting firm designated by the Employee and reasonably acceptable to the
Company. Any certified public accounting firm chosen by the Employee shall provide detailed
supporting calculations both to the Company and the Employee. Any Gross-Up Payment due under
this paragraph shall be paid to the Employee no later than December 31 of the calendar year
following the calendar year in which the Employee remits the Additional Taxes to the applicable
authorities.

5.8 No Reduction of COBRA Rights. For avoidance of doubt, the Company’s payment under
Section 5.3 or 5.4 of applicable premiums for COBRA continuation coverage for Employee and/or his
eligible dependents will not limit or reduce the otherwise applicable duration of such COBRA
continuation coverage. For example, if Employee is eligible for 29 months of continuation coverage
under COBRA and the Company, in accordance with Section 5.4, pays the applicable premiums for the
first 18 months of such coverage, Employee will remain eligible for the remaining 11 months of
continuation coverage to the extent provided by applicable law and will be responsible for paying
the applicable premiums for such remaining period of coverage.

5.9 Securities Law Restrictions. Upon Employee’s complete cessation of service with
the Company, Employee will cease to be subject to the Company’s Insider Trading Policy (the
“Insider Trading Policy”). However, even after Employee ceases to be subject to the Insider
Trading Policy, Employee’s ability to transfer Company securities will remain subject to various
legal requirements and restrictions. For example, under current SEC rules, the volume limitations
of Rule 144 continue for three months after a person ceases to be an “affiliate” (as therein
defined). In addition, federal securities laws will continue to prohibit Employee from trading
Company securities whenever in possession of material non-public information. Therefore, while
Employee will no longer be required to pre-clear transactions in Company securities with the
Company after he ceases to be subject to the Insider Trading Policy, Employee should consult his
lawyer before transferring any Company securities.

 

7

 

Section 6. Federal Excise Tax.

6.1 General Rule. Employee’s payments and benefits under this Agreement and all other
arrangements or programs related thereto shall not, in the aggregate, exceed the
maximum amount that may be paid to Employee without triggering golden parachute penalties
under Section 280G of the Code, and the provisions related thereto with respect to such payments.
If Employee’s benefits must be cut back to avoid triggering such penalties, Employee’s benefits
will be cut back in the order that maximizes Employee’s net after-tax economic position, as
reasonably determined by the Company. If an amount in excess of the limit set forth in this
Section is paid to Employee, Employee must repay the excess amount to the Company upon demand, with
interest at the rate provided in Code Section 1274(b)(2)(B). Employee and the Company agree to
cooperate with each other reasonably in connection with any administrative or judicial proceedings
concerning the existence or amount of golden parachute penalties on payments or benefits Employee
receives.

6.2 Exception. Section 6.1 shall apply only if it increases the net amount Employee
would realize from payments and benefits subject to Section 6.1, after payment of income and excise
taxes by Employee on such payments and benefits.

6.3 Determinations. The determination of whether the golden parachute penalties under
Code Section 280G and the provisions related thereto shall be made by counsel chosen by Employee
and reasonably acceptable to the Company. All other determinations needed to apply this Section 6
shall be made in good faith by the Company’s independent auditors.

Section 7. General.

7.1 Confidentiality and Non-Competition Agreement. Employee and the Company hereby
ratify and re-affirm that certain Confidentiality and Non-Competition Agreement dated January 26,
2005 (the “Confidentiality Agreement”).

7.2 No Conflict. Employee represents and warrants that he has not entered, nor will
he enter, into any other agreements that restrict his ability to fulfill his obligations under this
Agreement and the Confidentiality Agreement.

7.3 Governing Law. This Agreement shall be construed, interpreted and governed by the
laws of the State of New Jersey, without regard to the conflicts of law rules thereof.

7.4 Binding Effect. This Agreement shall extend to and be binding upon Employee, his
legal representatives, heirs and distributees and upon the Company, its successors and assigns
regardless of any change in the business structure of the Company.

7.5 Assignment. Neither this Agreement nor any of the rights or obligations hereunder
shall be assigned or delegated by any party without the prior written consent of the other party.

7.6 Tax Compliance. If reasonably requested in writing, Employee agrees within
fifteen business days to provide the Company with an executed IRS Form 4669 (Statement of Payments
Received) with respect to any taxable amount paid to Employee by the Company.

 

8

 

7.7 Entire Agreement. Except for any stock option or stock award agreements between
the parties, this Agreement contains the entire agreement of the parties with respect to the
subject matter hereof. No waiver, modification or change of any provision of this Agreement shall
be valid unless in writing and signed by both parties. For avoidance of doubt, this Agreement
supersedes in all respects the 2010 Amended and Restated Employment Agreement between the parties
dated December 17, 2010.

7.8 Waiver. The waiver of any breach of any duty, term or condition of this Agreement
shall not be deemed to constitute a waiver of any preceding or succeeding breach of the same or any
other duty, term or condition of this Agreement.

7.9 Severability. If any provision of this Agreement shall be unenforceable in any
jurisdiction in accordance with its terms, the provision shall be enforceable to the fullest extent
permitted in that jurisdiction and shall continue to be enforceable in accordance with its terms in
any other jurisdiction and the validity, legality and enforceability of the remaining provisions
contained herein shall not be affected thereby.

7.10 Conflicting Agreements. In the event of a conflict between this Agreement and
any other agreement between Employee and the Company, the terms and provisions of this Agreement
shall control.

7.10 Resolution of Disputes. Any claim or controversy arising out of, or relating to,
this Agreement, other than with respect to the Confidentiality Agreement, between Employee and the
Company (or any officer, director, employee or agent of the Company), or the breach thereof, shall
be settled by arbitration administrated by the American Arbitration Association under its National
Rules for the Resolution of Employment Disputes. Such arbitration shall be held in New Jersey (or
in such other location as the Company may at the time be headquartered). The arbitration shall be
conducted before a three-member panel. Within fifteen (15) days after the commencement of
arbitration, each party shall select one person to act as arbitrator and the two selected shall
select a third arbitrator within ten (10) days of their appointment.

If the arbitrators selected by the parties are unable or fail to agree upon the third
arbitrator, the third arbitrator shall be selected by the American Arbitration Association and
shall be a member of the bar of the State of New Jersey actively engaged in the practice of
employment law for at least ten years. The arbitration panel shall apply the substantive laws of
the State of New Jersey in connection with the arbitration and the New Jersey Rules of Evidence
shall apply to all aspects of the arbitration. The award shall be made within thirty days of the
closing of the hearing. Judgment upon the award rendered by the arbitrators(s) may be entered by
any Court having jurisdiction thereof.

 

9

 

7.11 Notices. All notices pursuant to this Agreement shall be in writing and shall be
sent by prepaid certified mail, return receipt requested or by recognized air courier service
addressed as follows:

	 	(i)	 	If to the Company to:
	 
	 	 	 	Amicus Therapeutics, Inc.

6 Cedar Brook Drive

Cranbury, New Jersey 08512
	 
	 	(ii)	 	If to Employee to:
	 
	 	 	 	John F. Crowley

15 Leonard Court

Princeton, New Jersey 08540
	 
	 	(iii)	 	With required copies to:
	 
	 	 	 	James J. Marino

Dechert LLP

902 Carnegie Center

Suite 500

Princeton, New Jersey 08540-6531

Fax No.: (609) 955 3259
	 
	 	 	 	And
	 
	 	 	 	Stephen W. Skonieczny

Dechert LLP

1095 Avenue of the Americas

New York, New York 10036

Fax No.: (212) 698 3599

or to such other addresses as may hereinafter be specified by notice in writing by either of the
parties, and shall be deemed given three (3) business days after the date so mailed or sent.

7.12 Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed an original but all of which shall together constitute one and the same agreement.

[Signature Page Follows]

 

10

 

IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

	 	 	 	 	 
	 	                                              /s/ John F. Crowley
 	 
	 	JOHN F. CROWLEY 	 
	 	 	 
	 	AMICUS THERAPEUTICS, INC.

 	 
	 	By:  	/s/ Donald J. Hayden, Jr.
 	 
	 	 	Name:  	Donald J. Hayden, Jr. 	 
	 	 	Title:  	Lead Independent Director 	 

 

11

 

Schedule A

Post-Termination Option Exercise Period

	1.	 	Options Expiring on September 30, 2012

	 	 	 	 	 	 	 	 	 
	Grant Date	 	Exercise Price ($)	 	 	Options Outstanding	 
	8/17/2004
	 	 	0.6375	 	 	 	16,491	 
	1/6/2005
	 	 	0.6375	 	 	 	49,931	 
	6/15/2010
	 	 	2.81	 	 	 	48,100	 
	6/15/2010
	 	 	2.81	 	 	 	6,900	 
	11/16/2009
	 	 	4.16	 	 	 	136,721	 
	11/16/2009
	 	 	4.16	 	 	 	13,279	 
	10/20/2005
	 	 	5.325	 	 	 	60,029	 
	10/20/2005
	 	 	5.325	 	 	 	28,971	 
	 
	 	Total Options Expiring	 	 	 	360,422	 

	2.	 	Options Expiring on December 31, 2012

	 	 	 	 	 	 	 	 	 
	Grant Date	 	Exercise Price ($)	 	 	Options Outstanding	 
	2/28/2006
	 	 	5.325	 	 	 	268,322	 
	2/28/2006
	 	 	5.325	 	 	 	11,678	 
	1/19/2011
	 	 	5.96	 	 	 	103,975	 
	1/19/2011
	 	 	5.96	 	 	 	16,025	 
	 
	 	Total Options Expiring	 	 	 	400,000	 

	3.	 	Options Expiring on March 31, 2013

	 	 	 	 	 	 	 	 	 
	Grant Date	 	Exercise Price ($)	 	 	Options Outstanding	 
	4/25/2007
	 	 	13.425	 	 	 	189,736	 
	4.25.2007
	 	 	13.425	 	 	 	10,264	 
	2/5/2008
	 	 	10.21	 	 	 	119,785	 
	2/5/2008
	 	 	10.21	 	 	 	5,215	 
	2/3/2009
	 	 	10.36	 	 	 	94,665	 
	2/3/2009
	 	 	10.36	 	 	 	8,835	 
	 
	 	Total Options Expiring	 	 	 	428,490

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]