Document:

Form of Transition Services Agreement

 EXHIBIT 10.30 
  
 FORM OF TRANSITION SERVICES AGREEMENT 
  
 This TRANSITION SERVICES AGREEMENT (the “Agreement”) is effective as of [    ], 2005 by
and among Instinet Group Incorporated, a corporation organized under the laws of the State of Delaware (“Buyer”), Bridge Trading Company, a corporation organized under the laws of the State of Delaware (the
“Company”), and Reuters America LLC, a limited liability company organized under the laws of the State of Delaware (“Reuters”). Capitalized terms used but not otherwise defined herein shall have the meanings
specified in the Purchase Agreement (as defined below). 
  
 RECITALS 
  
 WHEREAS, Buyer, Reuters C LLC, a
corporation organized under the laws of the State of Delaware (“Seller”), and Reuters Limited, a corporation organized under the laws of England and Wales, have entered into a Stock Purchase Agreement, dated as of February 28, 2005,
as may be amended from time to time (the “Purchase Agreement”), pursuant to which Buyer shall purchase from Seller all of the issued and outstanding shares of capital stock of the Company for the consideration and on the terms and
conditions set forth in the Purchase Agreement; and 
  
 WHEREAS,
prior to consummation of the transactions contemplated by the Purchase Agreement (the “Closing”), the Company received certain services from Reuters, which is an affiliate of Seller; and 
  
 WHEREAS, each of the parties hereto desires that Reuters or its affiliates
continue to provide certain of these services to the Company following the Closing on the terms and conditions hereafter set forth; and 
  
 WHEREAS, in consideration of the benefits that Buyer will receive from the provision of such services to the Company, Buyer will pay Reuters for such
services on the terms and conditions hereafter set forth. 
  
 NOW,
THEREFORE, in consideration of the mutual promises hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of Buyer, the Company and Reuters hereby agrees as follows:

  

	1.	The Services 

  

	 	1.1	 Subject to the terms and conditions herein, Reuters agrees that it or one or more of its affiliates (any such entity, a “Reuters Entity”) or any
other person that is providing, or may from time to time provide, the same or similar services for Reuters (each, a “Third Party Service Provider” and together with each of the applicable Reuters Entities, a “Service
Provider”) will provide or cause to be provided to the Company the services described on, and for the period set forth on, the schedules attached hereto (the “Schedules”). Such services shall be 

  

	 	 
referred to in this Agreement collectively as the “Services” and individually as a “Service.” Except as otherwise expressly
provided herein, all Services will be provided as of the Closing. 

  

	 	1.2	Except as otherwise stated herein; (i) if a Service being provided hereunder is maintained for any Reuters Entity’s internal use, such Service shall be provided hereunder in a
manner consistent with the standard in effect from time to time at which such Service is maintained for such own internal use; (ii) if such Service being provided hereunder is no longer maintained for any Reuters Entity’s own internal use, such
Service shall be provided in a manner consistent with the standard at which such Service was maintained for such own internal use prior to the date on which such Service was discontinued; and (iii) if such Service is being provided by a Third Party
Service Provider and such Service is not maintained for any Reuters Entity’s own internal use, such Service shall be provided in a manner consistent with the standards (if any) set forth on the applicable Schedule attached hereto. If Reuters
believes in its sole reasonable judgment, that it is unable, either directly, through a Reuters Entity or a Third Party Service Provider, to provide any one or more of the Services due to the impracticability of providing such Service, the parties
hereto shall cooperate to determine an alternative approach. 

  

	 	1.3	The Buyer and the Company shall use their reasonable best efforts, in connection with receiving the Services, to follow the policies, procedures and practices of the Service
Providers in effect as of the applicable date, including providing any reasonably necessary documentation and information sufficient for any Service Provider to perform the Services and making available, as reasonably requested by any Service
Provider, all necessary cooperation, sufficient resources and timely decisions, approvals and acceptances to permit the Service Provider to meet its obligations hereunder. If Buyer or Company fail to meet their obligations in Section 2 or this
Section 1, and a Service Provider is unable to provide Services in connection therewith, then such Service Provider shall not be deemed in breach of this Agreement for such inability to the extent caused by such failure of Buyer or Company.

  

	 	1.4	If Reuters causes any Services to be provided hereunder by a Third Party Service Provider, Buyer and/or the Company shall, if required by such Third Party Service Provider, enter
into an agreement with such Third Party Service Provider with respect to such Services, subject to the terms and conditions of this Agreement. 

  

	 	1.5	 Buyer and the Company hereby acknowledge and agree that the Services provided to the Company hereunder are transitional in nature and that any Service Provider may
make changes from time to time in the manner of performing one or more Services, subject to the terms and conditions in the applicable Schedule, if any. In the event any Service Provider makes changes to any Service maintained for a Reuters
Entity’s own internal use, then Reuters shall have the option to have similar changes made in the same or similar Services provided hereunder. 

  

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Reuters shall, or shall cause the relevant Service Provider to give the Company reasonable notice of any such change in the Services provided hereunder.

  

	 	1.6	Buyer and/or the Company shall obtain all consents, licenses, sublicenses or approvals necessary to permit any Service Provider to provide the Services hereunder. Buyer or the
Company shall pay all fees and expenses relating to such consents, licenses, sublicenses or approvals. No Service Provider shall have any obligation to provide Services hereunder until all necessary consents, licenses, sublicenses or approval are
obtained. 

  

	 	1.7	In providing any of the Services hereunder, no Reuters Entity or Third Party Service Provider shall be obligated to (i) hire any additional employees, (ii) maintain the employment
of any specific employee or (iii) purchase, lease or license any additional equipment or assets. 

  

	 	1.8	It is understood and agreed that no Reuters Entity shall be obligated to perform, or cause any Third Party Service Provider to perform, any Services in a volume or quantity which
exceeds the historical volumes or quantities of such services performed for the Company. No Reuters Entity shall be required to perform or cause any Third Party Service Provider to perform any of the Services for the benefit of any third party or
any other entity other than the Company. 

  

	2.	Licenses 

  

	 	2.1	Buyer and the Company hereby grant to each Service Provider a non-exclusive, non-sublicensable, non-transferable, royalty-free license to any Intellectual Property (as defined in
the Purchase Agreement) and any and all hardware, equipment, systems and related items, that are owned or (where either of them has the right to grant such license hereunder or can procure such right without any material costs) used by either of
them, as is reasonably necessary for any Service Provider to provide the Services hereunder. Such license is granted solely for the term of this Agreement for the sole purpose of enabling such Service Provider to provide such applicable Service(s).
Such Service Provider shall not use or disclose such license for any purpose unrelated to the provision of the applicable Service(s), except as required by applicable statute, law, rule or regulation. 

  

	 	2.2	Buyer and Company shall provide the Service Providers and their employees, agents, consultants and contractors reasonable access at reasonable times to facilities, hardware,
equipment, systems, Intellectual Property and related items and personnel of Buyer and the Company, at no cost to any Service Provider, as is reasonably necessary in order for such Service Provider to provide such Services pursuant to the terms
hereof; provided, however, that Reuters shall ensure that all reasonable efforts are made to avoid and mitigate any interruption of or interference with Buyer’s and the Company’s business activities. 

  

	 	2.3	 Subject to Section 1.6, in connection with the Service(s) referenced in the Schedules, Reuters hereby grants to the Company a non-exclusive, non- 

  

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sublicensable and non-transferable license to use all hardware, equipment and software reasonably necessary for the Company to use such Service(s). Such
license is granted solely for the term of this Agreement for the sole purpose of enabling the Company to use such applicable Service(s). The Company and Buyer shall not use or disclose such license for any purpose unrelated to use of the applicable
Service(s), except as required by applicable statute, law, rule or regulation. 

  

	3.	Rates and Charges 

  

	 	3.1	Buyer shall pay Reuters or, to the extent required by any Third Party Service Provider, such Third Party Service Provider, for each Service provided by any Service Provider at the
rate set forth in the Schedule relating to such Service during the term applicable to such Service. 

  

	4.	Invoices 

  

	 	4.1	All amounts due to Service Providers from Buyer and the Company for the Services shall be billed monthly by Reuters (or, to the extent required by any Third Party Service Provider,
by such Third Party Service Provider) in arrears. All items on invoices shall be payable by Buyer and the Company in United States currency within 30 days from the date of receipt of the invoice. All amounts are subject to interest charges of 1-1/2
percent that will accrue daily as of the payment due date. 

  

	 	4.2	Buyer and Company shall be responsible for any sales, use, value added, federal excise, withholding, utility, gross receipts, state and local surcharges, and all other similar
taxes, charges or levies lawfully levied by a duly constituted taxing authority against, upon or in respect of the Services (except for taxes on the net income of any Service Provider and franchise taxes imposed on such Service Provider by the
jurisdiction under the laws of which such Service Provider is organized or has its place of business), unless such taxes, charges or levies are imposed by reason of a Service Provider’s failure to complete and deliver to Buyer or Company from
time to time, so long as it is eligible to do so, any form required by a taxing authority or reasonably requested by Buyer or Company in order to secure an exemption from, or reduction in, such taxes, charges or levies. 

  

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	5.	Relationship Among the Parties 

  

	 	5.1	The employees, agents or representatives of any Service Provider providing services to the Company under this Agreement shall not be deemed employees, agents or representatives of
the Company or Buyer. Similarly, the employees, agents or representatives of the Company or Buyer shall not be deemed employees, agents or representatives of any Service Provider. Neither party, nor its employees, agents or representatives, is
authorized to act on behalf of or to bind any other party in any manner whatsoever. The provisions of this Agreement shall not be interpreted as creating any kind of joint venture, partnership or other association between (i) the Company or Buyer,
on one hand, and any Service Provider, on the other hand, or (ii) any Reuters Entity, on one hand, and any Third Party Service Provider, on the other hand. 

  

	 	5.2	Each of Buyer and the Company acknowledges that the Reuters Entities are not in the business of providing the Services to third parties. With respect to such Services, it is
understood and agreed by each of Buyer and the Company that such Services are being provided at Buyer’s request and solely to accommodate Buyer and the Company during the transitional period following the Closing. 

  

	6.	Representations and Warranties of Reuters 

  

	 	6.1	Reuters is a limited liability company duly organized and validly existing under the laws of the State of Delaware. Reuters has all requisite power and authority to enter into this
Agreement and to perform its obligations hereunder. 

  

	 	6.2	The execution, delivery and performance by Reuters of this Agreement and the consummation by Reuters of the transactions contemplated hereby have been duly authorized and approved
by all necessary corporate action. This Agreement has been duly executed and delivered by Reuters and, assuming that this Agreement is a legal, valid and binding obligation of each of the other parties hereto, is a legal, valid and binding
obligation of Reuters, enforceable against Reuters in accordance with its terms. 

  

	7.	Termination by Buyer 

  

	 	7.1	Buyer may terminate in advance one or more Services being provided by any Service Provider hereunder by giving Reuters and any other relevant Service Provider, as the case may be,
written notice at least 20 days prior to the effective date of such termination, with no liability to any Service Provider other than for charges for such Service provided prior to the effective date of such termination and/or for non-refundable
charges that such Service Provider has incurred in connection with such Service 

  

	 	7.2	 Buyer may terminate this Agreement if Reuters has materially failed to perform or comply with or has materially violated any term or condition of this Agreement, or
has materially failed to comply with any of its obligations under this 

  

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Agreement, and has failed to cure such violation or failure to comply within 20 days after receiving written notice thereof from Buyer.

  

	8.	Termination by Reuters 

  

	 	8.1	Reuters shall have the right to terminate this Agreement prior to its expiration, effective immediately upon notice to Buyer or the Company, if: 

  

	 	(a)	Buyer or the Company have failed to pay any invoice when due, and Reuters has provided Buyer and Company with written notice thereof, and Buyer and Company have not cured any such
default within 10 additional Business Days; 

  

	 	(b)	Buyer or the Company has materially failed to perform or comply with or has materially violated any term or condition of this Agreement, or has materially failed to comply with any
of its obligations under this Agreement, and has failed to cure such violation or failure to comply within 20 days after receiving written notice thereof from Reuters; or 

  

	 	(c)	Buyer or the Company becomes the subject of a voluntary or involuntary bankruptcy, insolvency, reorganization or liquidation proceeding, makes an assignment for the benefit of
creditors or admits in writing its inability to pay debts when due. 

  

	9.	Term; Expiration of Term 

  

	 	9.1	Except where a shorter term is set forth on Schedule A for a particular Service, the term of this Agreement shall commence as of the Closing and shall remain in effect until
December 31, 2005 (the “Term”), unless earlier terminated with respect to all Services or with respect to any one or more Services, in each case, in accordance with this Agreement. The Service Provider shall have no obligation to
renew or extend this Agreement or any Service provided hereunder. 

  

	 	9.2	Sections 5, 9.2, 9.3, 10, 11, 12 and 13 shall survive termination of this Agreement. 

  

	 	9.3	Upon termination of this Agreement or the earlier termination of any Service(s) hereunder, Buyer and the Company shall be obligated to return to Reuters, and Reuters shall be
obligated to return to Company, as soon as is reasonably practicable, any equipment, hardware or other property thereof relating to the Service(s) which is in the Buyer’s or the Company’s control or possession or Reuters’ control or
possession, as applicable. 

  

	10.	Limitations of Liability 

  

	 	10.1	 In no event shall any party hereto (or any Third Party Service Provider) be liable to any other party hereto (or any Third Party Service Provider) for indirect,
incidental, consequential, exemplary, reliance or special damages, including without limitation damages for lost profits, regardless of the form of action, 

  

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whether in contract, indemnity, warranty, strict liability or tort, and whether or not caused by or resulting from negligence, willful misconduct or breach
of any obligation of any kind, with respect to this Agreement or the Services provided hereunder. 

  

	 	10.2	Without limiting any other provision in this Section 10, the liability of any Service Provider to Company and Buyer for any damages resulting from the failure of such Service
Provider to provide any Services to Company hereunder shall be limited to the lesser of (a) Company’s incremental out-of-pocket cost of performing such Services itself and (b) Company’s incremental out-of-pocket cost of obtaining such
service from a third party; provided that Company and Buyer shall exercise all reasonable efforts under the circumstances to minimize the cost of any such alternative to such Services by selecting a cost-effective alternative which provides
the functional equivalent of the Services replaced. Notwithstanding anything herein to the contrary, in no event shall any party hereto (or any Third Party Service Provider) be liable under this Agreement for an aggregate amount in excess of the
aggregate amount received by Reuters from Buyer and/or Company in respect of the Services rendered hereunder. 

  

	 	10.3	Without limiting any other provision in this Section 10, the sole responsibility of any Reuters Entity (or any Third Party Service Provider) to Buyer and Company for errors or
omissions in the Services provided hereunder shall be to use its commercially reasonable efforts to make such Services available and/or to resume performing the Services as promptly as reasonably practicable or to furnish corrected information or
adjustment to such Services; provided that Company shall promptly advise Reuters and any Third Party Service Provider of any such errors or omissions. 

  

	 	10.4	BUYER AND COMPANY EXPRESSLY ACKNOWLEDGE THAT THE SERVICE
PROVIDERS DO NOT MAKE AND HEREBY EXPRESSLY DISCLAIM ANY REPRESENTATIONS, WARRANTIES
OR GUARANTIES (IN EACH CASE, EXPRESS OR IMPLIED) WITH RESPECT TO THE
SERVICES, INCLUDING WITHOUT LIMITATION, ANY OF THE FOREGOING RELATING TO
MERCHANTABILITY, FITNESS FOR USE FOR A PARTICULAR PURPOSE, SUITABILITY, QUALITY,
RELIABILITY, ADEQUACY, ACCURACY OR VALUE, OR THE VALUE OF ANY RESULTS
TO BE GENERATED THEREFROM. THE SERVICES ARE PROVIDED HEREUNDER SOLELY ON
AN “AS IS” BASIS.  

  

	11.	Confidentiality 

  

	 	11.1	 Reuters, on the one hand, and Buyer and Company, on the other hand, agree to maintain in strict confidence all Confidential Information (as defined below) of the
other party hereto. No party shall, without prior written consent of the other party, use the other party’s Confidential Information for any purpose other than to perform under this Agreement, or disclose, divulge, communicate, reveal, share,
provide access to, copy, distribute, publish or transfer such other party’s Confidential Information to any person, whether directly or indirectly, except to any Service Provider and only to the extent necessary for the performance of its

  

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duties and obligations, and the exercise of its rights, under this Agreement. Each party shall use, and shall cause all authorized recipients of the other
party’s Confidential Information to use, the same degree of care to protect such party’s Confidential Information as it uses to protect its own Confidential Information, but in any event not less than a reasonable degree of care.

  

	 	11.2	“Confidential Information” means, with respect to any party, the terms of this Agreement and any and all non-public, confidential and proprietary information of
such party, including, without limitation, that relating to network designs and design recommendations, tools and programs, pricing, customers, methods, processes, financial data, software, code, applications, research, development, employees,
strategic plans or related information. Confidential Information shall not include information that: 

  

	 	(a)	is already rightfully known to the receiving party at the time it is obtained by such party, free from any obligation to keep such information confidential;

  

	 	(b)	is or becomes publicly known through no wrongful act of the receiving party; 

  

	 	(c)	is rightfully received by the receiving party from a third party without restriction and without breach of this Agreement; or 

  

	 	(d)	is required to be disclosed pursuant to applicable law, statute, regulation, rule, court order, subpoena or judicial process, provided that the receiving party shall promptly as
reasonably practicable inform the disclosing party of any such requirement, disclose no more information than is so required, and cooperate with all attempts by the disclosing party to obtain a protective order or similar treatment.

  

	 	11.3	Notwithstanding Section 11.1, Buyer and Company may disclose the Confidential Information of Reuters, and Reuters may disclose the Confidential Information of Buyer or the Company,
to: (a) its employees and the employees, directors and officers of its affiliates as necessary to implement this Agreement; (b) employees, agents or representatives of the other parties hereto as necessary to implement this Agreement, or (c) other
persons (including counsel, consultants, lessors or managers of facilities or equipment used by such party) in need of access to such information for purposes specifically related to either party’s responsibilities under this Agreement,
provided that any disclosure of Confidential Information under clause (c) shall be subject to the appropriate assurances that the recipient of such information shall hold it in strict confidence in accordance with the terms of this Agreement. The
receiving party shall be liable for any unauthorized use or disclosure of Confidential Information by any of the foregoing persons. 

  

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	 	11.4	Upon termination or expiration of this Agreement, the receiving party shall promptly cease, and not thereafter commence, any and all use of such Confidential Information of the
disclosing party. 

  

	 	11.5	At any time upon the request of the disclosing party, the receiving party shall promptly return all Confidential Information (including any copies, extracts and summaries thereof,
in whatever form and medium recorded) to the disclosing party or, at the disclosing party’s option and upon such disclosing party’s written request, shall promptly destroy or delete it and provide such disclosing party with written
certification of such destruction or deletion. 

  

	 	11.6	The parties hereto will maintain documentation relating to the information and Services contemplated by the Schedules and cooperate with each other in making such information
available as may be required in connection with any tax audit, whether in the United States or any other jurisdiction or country. 

  

	 	11.7	Each party hereby acknowledges that any violation of this Section 11 could cause irreparable harm, the amount of which may be difficult to determine, thus potentially making any
remedy at law or in damages inadequate. Each party, therefore, agrees that a party shall have the right to apply to any court of competent jurisdiction for an order restraining any breach or threatened breach of this Section and for any other
equitable relief which may then be available, without posting any bond or other security. This right shall be in addition to any other remedy available in law or equity. 

  

	12.	Force Majeure 

  

	 	12.1	Nothwithstanding anything herein to the contrary, in no event shall any Service Provider be liable to Buyer or Company for any failure to perform hereunder that is due to war,
riots, embargoes, strikes or other concerted acts of workers (whether of a party hereto or of others), casualties, accidents or other causes to the extent that such failure and the consequences thereof are reasonably beyond the control of such
Service Provider (any such event, occurrence or condition, a “Force Majeure”). 

  

	 	12.2	 If Reuters cannot promptly provide a suitable temporary alternative to a Service subject to an interruption in connection with the existence of a Force Majeure,
upon written notice to Reuters, Company and Buyer may, at its option and at its own cost, contract with one or more third parties for any or all affected Services for the shortest commercially available period likely to cover the reasonably expected
duration of the interruption, and may suspend the provision of such Services by the applicable Service Provider for such period; provided that Company and Buyer shall exercise all reasonable efforts under the circumstances to minimize the
cost of any such alternative to such Services by selecting a cost-effective alternative which provides the functional equivalent of the Services replaced. Reuters shall not charge Buyer or Company for any Services thus suspended during the period of
suspension. The applicable Service provider shall 

  

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resume provision of the suspended Services upon the later of the termination or expiration of Buyer’s legally binding commitments under contracts with
third parties for alternative services or the cessation or remedy of the Force Majeure. 

  

	13.	Miscellaneous. 

  

	 	13.1	No Third-Party Beneficiaries. Except for the foregoing, this Agreement is for the sole benefit of the parties and nothing herein expressed or implied shall give or be
construed to give any person or entity (other than the parties) any legal or equitable rights hereunder. 

  

	 	13.2	Entire Agreement. This Agreement (including the Schedules, which are hereby incorporated in the terms of this Agreement and made a part hereof) sets forth the entire
understanding and agreement among the parties as to matters covered herein and supersedes any prior understanding, agreement or statement (written or oral) of intent among the parties with respect to the subject matter hereof.

  

	 	13.3	Succession and Assignment. In the event of a permitted assignment hereunder, this Agreement shall be binding upon and inure to the benefit of the parties named herein and
their respective successors and permitted assigns. Buyer and the Company may not assign or sublicense (whether by operation of law, merger, change of control or otherwise) this Agreement or any of their rights, interests, or obligations hereunder
without the prior written approval of Reuters in its sole discretion; provided that Buyer or Company may assign, without Reuters’ prior written approval, all (but not part) of its rights hereunder to any of its Affiliates in connection
with the transfer or assignment of the Company and/or all or substantially all of the Company’s business to such Affiliate; provided, further, that any such assignment shall not relieve Buyer or the Company, as the case may be, of any
obligation hereunder. Any attempted action in violation of the foregoing shall be null and void ab initio and of no force and effect.  

  

	 	13.4	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be
one and the same instrument. 

  

	 	13.5	Headings. The Section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

  

	 	13.6	Notices. All notices, requests, demands, claims, and other communications hereunder shall be in writing, shall be effective upon receipt, and shall be sent by hand,
facsimile, air courier or certified or registered mail, return receipt requested, as follows: 

  

			
	 If to Reuters:
	  	 Reuters America LLC

	 	  	 717 Office Parkway

	 	  	 St. Louis, MO 63141

  

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	 	  	 Attention: Jim Fox, SVP Finance Business
 Services
– The Americas
 Telephone: +1-314-468-3478
 Facsimile:
+1-314-468-4328

		
	 	  	with a copy to:
		
	 	  	 Reuters America LLC
 The Reuters Building

3 Times Square
 New York, NY 10036
 Attention: General Counsel
 Telephone: 646-223-4200
 Facsimile: 646-223-4250

		
	If to Buyer or Company:	  	Instinet Group Incorporated
	 	  	 3 Times Square
 New York, New York 10036
 Attention: Paul A. Merolla
 Telephone: (212) 310-7548
 Facsimile: (212) 593-8040

		
	 	  	with a copy to:
		
	 	  	 Cleary Gottlieb Steen & Hamilton LLP
 One Liberty
Plaza
 New York, NY 10006
 Attention: Yvette Teofan,
Esq.
 Telephone: (212) 225-2636
 Facsimile: (212)
225-3999

  
 or to such other
address as a party may specify by notice from time to time in writing to the other parties in the manner specified in this Section. 
  

	 	13.7	Governing Law; Submission to Jurisdiction; Appointment of Agent for Service of Process; Waiver Of Jury Trial. 

  

	 	(a)	THE AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  

	 	(b)	 Each party hereby irrevocably agrees that any legal action or proceeding against it arising out of this Agreement or the transactions contemplated hereby shall be
brought only in the Supreme Court of the State of New York in and for the County of New York or the U.S. District Court for the Southern District of New York, preserving, however, all rights of removal to a federal court under 28 U.S.C. §1441.
Each party irrevocably waives 

  

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any objection to the venue of the courts designated in this Section 13.7 (whether on the basis of forum non conveniens or otherwise), and accepts and
submits to the jurisdiction of such courts in connection with any legal action or proceeding against it arising out of or concerning this Agreement. 

  

	 	(c)	Each party hereby agrees to at all times maintain an agent to receive service of process in the State of New York. The foregoing shall not affect, limit or prevent the parties from
serving process in any other manner permitted by law. 

  

	 	(d)	EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE RELATED AGREEMENTS
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

  

	 	13.8	Waivers and Amendments. No waiver shall be deemed to have been made by any party of any of its rights under this Agreement unless the same is in writing and is signed by
Buyer and Reuters. Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way impair the rights of the party granting such waiver in any other respect or at any other time. To be
binding, any amendment of this Agreement must be effected by an instrument in writing signed by Buyer and Reuters. 

  

	 	13.9	Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions
and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon such determination that
any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable
manner to the end that transactions contemplated hereby are fulfilled to the extent possible. 

  

	 	13.10 	Expenses. Except as otherwise provided herein, each party will bear its own costs and expenses (including legal fees and expenses) incurred in connection with this Agreement
and the transactions contemplated hereby. 

  
 [Signature page follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Transition Services Agreement to be executed as
of the date first above written. 
  

			
	INSTINET GROUP INCORPORATED
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	BRIDGE TRADING COMPANY
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 REUTERS AMERICA LLC

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

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 SCHEDULE A 

 
 SCHEDULE OF TRANSITION SERVICES 
  
 [Pricing] 
  

  
 SCHEDULE B 

 
 DETAIL OF CERTAIN TECHNOLOGY SERVICESForm of Use and Services License Agreement

 EXHIBIT 10.31 
  
 FORM OF USE AND SERVICES LICENSE AGREEMENT 
  
 THIS USE AND SERVICES LICENSE AGREEMENT (this “Agreement”), dated [    ], 2005, is made by and
between BRIDGE TRADING COMPANY, a [    ], having an office at 788 Office Parkway, Creve Coeur, Missouri (“Bridge”) and REUTERS AMERICA LLC, a Delaware limited liability company (“Reuters”), having an office at
3 Times Square, The Reuters Building, New York, New York. 
  
 A.
Reuters owns a building located at 788 Office Parkway, Creve Coeur, Missouri (the “Premises”). 
  
 B. Bridge currently occupies approximately 13,787 square feet at the Premises, including primary use of the trading floor located thereon, more
particularly described on Exhibit A attached hereto (the “Occupied Space”) pursuant to a verbal agreement with Reuters. 
  
 C. The parties wish to memorialize their agreement with respect to the Occupied Space in writing. 
  
 Now, therefore, in consideration of the mutual promises hereinafter set forth
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bridge and Reuters hereby agree as follows: 
  

	 	1.	Occupancy of Office Space. In exchange for a monthly license fee in the amount of $29,583 (the “License Fee”), Reuters shall continue to grant Bridge a license to use and
occupy the Occupied Space during the Term (as defined below). The License Fee includes the cost of all utilities and other building services, except as provided below. Bridge shall pay Reuters the License Fee in advance, on the first day of each
calendar month during the Term, at the office of Reuters set forth above or such other place as Reuters may designate, without any setoffs or deductions whatsoever. If the Term commences on a day other than the first day of a month [TBD if
necessary] or terminates on a day other than the last day of a month, then the installments of the License Fee for such month or months shall be prorated, based on the number of days in such month. Upon execution and delivery of this Agreement,
Bridge shall pay the first month’s payment of the License Fee in accordance with the terms of this Section 1. Any amounts payable hereunder which are not paid when due shall bear interest at the rate of 10% per annum from the date due until the
date paid. 

  

	 	2.	Use of Office Space: 

  

	 	a.	 The Occupied Space may only be used for general office purposes and for all uses associated with Bridge’s current business activities at the Occupied Space
including, without limitation, trading, and all uses ancillary thereto. Bridge shall not perform any work or undertake any activity in the Occupied Space that may 

  

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interfere or disturb the use or occupancy of the Premises by Reuters, or any other occupants of the Premises, for their respective business purposes.

  

	 	b.	Bridge shall not use any of Reuters’ property, supplies or materials including, without limitation, IT-related equipment, office equipment, furniture or phones, except that
Bridge shall (i) be permitted to continue to use all such office equipment, phones and furniture belonging to Reuters that Bridge currently uses at the Occupied Space, for the remainder of the Term, and (ii) be entitled to reasonable use of the
pantry, if any, within the Premises. Further, the parties acknowledge that the Occupied Space shall not be separately demised and, therefore, each party has access to the other’s premises. Notwithstanding the foregoing, Reuters and Bridge each
agree that it shall not use, review, accept or otherwise avail itself in any way of the other’s property including, but not limited to, materials, products or information (the “Confidential Information”) and shall (x) instruct its
respective employees, agents, contractors, representatives and any other persons entering the Premises of such restriction and require such employees, agents, contractors and representatives to abide by such restriction and (y) immediately return
all originals and any copies of any Confidential Information obtained by the other party in violation of this Section 2(b). Any material violation of this Section 2(b) by Bridge may be deemed a material breach of this Agreement by Bridge
pursuant to which Reuters may immediately terminate this Agreement by written notice to Bridge, which termination shall be effective five (5) days following receipt of such notice. 

  

	 	3.	Term. The term of this Agreement (the “Term”) shall commence on the date hereof and continue until December 31, 2005, unless earlier terminated in accordance with Section
2(b) or Section 8 of this Agreement. Notwithstanding the foregoing, Bridge shall have the right to terminate this Agreement at any time during the Term upon sixty (60) days prior written notice to Reuters. Upon the expiration or termination of this
Agreement, Bridge shall quit and surrender to Reuters the Occupied Space in the same condition existing on the date hereof (subject to reasonable wear and tear), and Bridge shall remove all of its property located in the Occupied Space, if any,
provided, that upon such termination or expiration, Bridge shall have no right to the property of Reuters referenced in Section 2(b)(i) including, without limitation, Reuters’ IT-related equipment, office equipment, phones and office furniture.
Nothing herein contained shall be deemed to permit Bridge to retain possession of the Occupied Space after Term. 

  

	 	4.	Condition of the Occupied Space: Bridge represents that it has made a thorough inspection of the Occupied Space and agrees to take the same in its condition “as is” as of
the date hereof and Reuters shall have no obligation to alter, improve or decorate the Occupied Space for Bridge’s use and occupancy. Bridge shall not make or cause to be made any alterations, installations, improvements, additions or other
physical changes in or about the Occupied Space without Reuters’ prior consent, which consent may be withheld in Reuters’ sole discretion. 

  

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	5.	Telephone Service. Bridge will be responsible for the actual cost of its usage of local and long distance telephone service. Reuters will invoice these costs to Bridge monthly, or
the costs may be billed directly to Bridge from the service provider as agreed by the parties in the Transition Services Agreement between Bridge, Reuters and Instinet Group Incorporated, dated as of [    ], 2005.

  

	6.	Access. Reuters and Reuters’ agents shall have the right, throughout the Term, to enter any portion of the Occupied Space upon prior notice to Bridge to examine the same, and
to make such repairs, alterations, improvements or additions as Reuters may deem reasonably necessary, provided, that Reuters shall use commercially reasonable efforts to minimize any interference with Bridge’s operations at the Occupied Space.

  

	7.	Insurance. Bridge, at Bridge’s sole cost and expense, shall obtain and maintain in full force and effect during the Term general liability insurance reasonably acceptable to
Reuters, naming Reuters as an additional insured. As a condition to the exercise of this Agreement, Bridge shall furnish Reuters with a certificate evidencing that Bridge has obtained and maintains in full force and effect the foregoing coverage.

  

	8.	Default. In addition to any and all other rights or remedies provided in this Agreement or which Reuters may have at law, in equity, or otherwise, if Bridge shall fail to comply
with any of its obligations under this Agreement and such non-compliance continues for more than 10 days after notice by Reuters to Bridge of such non-compliance, or if such non-compliance is of such a nature that it can be remedied but cannot be
completely remedied within 10 days, Bridge fails to commence to remedy such non-compliance within 10 days after such notice; or, with respect to any such non-compliance, Bridge, having commenced such remedy within 10 days after such notice, fails to
diligently prosecute to completion all steps necessary to remedy such non-compliance within an additional 10 days, then Reuters shall have the right to terminate this Agreement upon notice to Bridge, and five (5) days following receipt of such
notice, this Agreement shall terminate, and Bridge shall immediately quit and surrender the Occupied Space as required hereby. 

  

	9.	No Liability: Reuters shall have no liability or responsibility to Bridge, and Bridge shall have no claim against Reuters, for any damage or loss incurred by Bridge with respect to
property located in the Occupied Space, except as a result of the gross negligence or willful misconduct of Reuters. 

  

	10.	Hold Harmless. Bridge agrees to indemnify Reuters against, and hold Reuters harmless from, any loss, cost, expense, claims or demands (including reasonable attorneys’ fees)
arising (i) by virtue of any accident, damage or injury to persons or property which may be in or upon, or be placed in or upon, the Occupied Space, (ii) by reason of occupation of the Occupied Space by Bridge’s employees, invitees and agents,
except for damage caused by the gross negligence and willful misconduct of Reuters, or (iii) by reason of Bridge’s breach of any of the terms or conditions of this Agreement, excluding, however, any such loss, cost, expense, claims or demands
arising as a result of Reuters’ gross negligence or willful misconduct. The provisions of this Section 9 shall survive the expiration or earlier termination of this Agreement. 

  

 3 

	11.	Notices. All notices in connection with this Agreement shall be in writing, shall be effective upon receipt and shall be sent by hand, facsimile, air courier or sent by certified
mail, return receipt requested, postage prepaid. Notices to Reuters shall be delivered to Reuters America LLC, 3 Times Square, New York, New York, Attention: General Counsel (fax: 646-223-4226), and a copy delivered to Reuters America LLC, 3 Times
Square, New York, New York 10036, Attn: Glenn Elliott (fax: 646-223-4573). Notices to Bridge shall be delivered to Instinet Group Incorporated, 3 Times Square, New York, New York 10036, Attn: Paul A. Merolla (fax: 212-593-8040), with a copy
delivered to Instinet Group, Attn: Real Estate Dept., Ed Poppe, PO Box 896, New York, NY 10036, and a copy delivered to Cleary Gottlieb Steen & Hamilton, 1 Liberty Plaza, New York, New York, 10006, Attn: Yvette Teofan (fax: 212-225-3999). Either
party may change its notice address upon notice to the other party in accordance with the provisions of this Section 11. 

  

	12.	Entire Agreement. This Agreement constitutes the entire understanding between the parties hereto with respect to the subject matter contained herein. 

  

	13.	Counterparts. This Agreement may be executed in counterparts, all of which taken together will constitute one instrument. 

  

	14.	Assignment. This Agreement may not be assigned, transferred or otherwise encumbered by Bridge without the prior written consent of Reuters, nor shall Bridge permit or suffer any
other person or entity to use or occupy any portion of the Occupied Space; provided, however, that Bridge shall have the right to assign this Agreement to an affiliate without the consent of Reuters (and the parties agree to promptly amend this
Agreement to reflect any such assignment). 

  

	15.	Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State of New York. 

  

	16.	Amendments. This Agreement may be amended or supplemented only by a written instrument duly executed by all of the parties hereto. 

  

	17.	License: This Agreement does not and shall not be deemed to constitute a lease or a conveyance of the Occupied Space by Reuters to Bridge or to confer upon Bridge any right, title,
estate or interest in the Occupied Space, except for such rights granted to Bridge pursuant to this Agreement. Notwithstanding the fact that this Agreement is a license and not a lease, it shall not be terminable by Reuters prior to December 31,
2005, except as specifically provided in Section 2(b) and Section 8 of this Agreement. 

  

 4 

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

									
					
	 By:
	 	 	 	 	 	 By:
	 	 
	 	 	 Name:
	 	 	 	 	 	 Name:

	 	 	 Title:
	 	 	 	 	 	 Title:

  

 5 

 OCCUPIED SPACE- Exhibit A 
  

 6

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