Document:

exv4w4

Exhibit 4.4

[FORM]

QRE GP, LLC

LONG-TERM INCENTIVE PLAN

RESTRICTED UNIT AGREEMENT

FOR

EMPLOYEES

     This Restricted Unit Agreement (this “Agreement”) is made and entered into by and between QRE
GP, LLC, a Delaware limited liability company (the “Company”), and [_____________________] (the
“Employee”). This Agreement is entered into as of the [_____] day of [________________], 20[__]
(the “Date of Grant”). Capitalized terms used in this Agreement but not otherwise defined herein
shall have the meanings ascribed to such terms in the Plan (as defined below), unless the context
requires otherwise.

W I T N E S S E T H:

     WHEREAS, the Company adopted the QRE GP, LLC LONG-TERM INCENTIVE PLAN (the “Plan”) on [DATE],
to attract, retain and motivate employees, officers, directors and consultants; and

     WHEREAS, the Board of Directors of the Company (the “Board”) has authorized the grant to
employees and officers of restricted units of QR ENERGY, L.P., a Delaware limited partnership (the
“Partnership”), as part of their compensation for services performed for the Company, the
Partnership, or any other entity which is an affiliate (within the meaning of such term under the
Exchange Act and the rules promulgated thereunder) of the foregoing entities (collectively, the
“Partnership Entities”).

     NOW, THEREFORE, in consideration of the Employee’s agreement to provide or to continue
providing services to the Partnership Entities, the Employee and the Company agree as follows:

     SECTION 1. Grant.

     The Company hereby grants to the Employee as of the Date of Grant an award of
_________ Units, subject to the terms and conditions set forth in the Plan, which is
incorporated herein by reference, and in this Agreement, including, without limitation,
those restrictions described in Section 2 (the “Restricted Units”).

     SECTION 2. Restricted Units.

     The Restricted Units are restricted in that they may be forfeited to the Company and
in that they may not, except as otherwise provided in Section 5, be transferred or
otherwise disposed of by the Employee until such restrictions are removed or expire as
described in Section 4 of this Agreement. The Company shall issue in the Employee’s name
the Restricted Units and shall retain the Restricted Units until the restrictions on
such Restricted Units expire or until the Restricted Units are forfeited as described in

 

 

Section 4 of this Agreement. The Employee agrees that the Company will hold the
Restricted Units pursuant to the terms of this Agreement until such time as the Restricted
Units are either delivered to the Employee or forfeited pursuant to this Agreement.

     SECTION 3. Rights of Employee; Unit Distribution Rights.

     Effective as of the Date of Grant, the Employee shall be treated for all purposes as a
Unit holder with respect to all of the Restricted Units granted to him pursuant to Section
1 (except that the Employee shall not be treated as the owner of the Units for federal
income tax purposes until the Restricted Units vest (unless the Employee makes an election
under section 83(b) of the Code, in which case the Employee shall be treated as the owner
of the Units for all purposes on the Date of Grant)) and shall, except as provided herein,
have all of the rights and obligations of a unit holder with respect to all such Restricted
Units, including any right to vote with respect to such Restricted Units and to receive any
UDRs thereon if, as, and when declared and paid by the Partnership. Notwithstanding the
preceding provisions of this Section 3, the Restricted Units shall be subject to the
restrictions described herein, including, without limitation, those described in Section 2.

     SECTION 4. Forfeiture and Expiration of Restrictions.

     (a) Vesting Schedule. Subject to the terms and conditions of this Agreement, the restrictions
described in Section 2 shall lapse and the Restricted Units shall become vested and nonforfeitable
(“Vested Units”), provided the Employee has continuously provided services to the Partnership
Entities, without interruption, from the Date of Grant through each applicable vesting date (each,
a “Vesting Date”), in accordance with the following schedule:

	 	 	 	 	 
	Vesting Date	 	Cumulative Vested Percentage
	On [_______, 20__]

	 	 	20	%
	 
	 	 	 	 
	On [_______, 20__]

	 	 	40	%
	 
	 	 	 	 
	On [_______, 20__]

	 	 	60	%
	 
	 	 	 	 
	On [_______, 20__]

	 	 	80	%
	 
	 	 	 	 
	On [_______, 20__]

	 	 	100	%

     (b) Termination of Service.

     (i) Termination For Any Reason. If, at any time prior to the final Vesting Date, the
Employee ceases providing services to the Partnership Entities for any reason other than
the Employee’s death or Disability, then all Restricted Units granted pursuant to this
Agreement that have not yet vested as of the date of the Employee’s termination shall
become null and void as of the date of such termination, shall be forfeited to the
Company and the Employee shall cease to have any rights with respect thereto; provided,

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however, that the portion, if any, of the Restricted Units for which forfeiture
restrictions have lapsed as of the Employee’s date of termination shall survive.

     (ii) Termination due to Death or Disability. If, at any time prior to the final
Vesting Date, the Employee ceases providing services to the Partnership Entities by reason
of the Employee’s death or Disability, then all Restricted Units granted pursuant to this
Agreement that remain unvested as of the date of the Employee’s termination shall
immediately become fully vested and nonforfeitable as of the date of such termination.

     (iii) Termination Following a Change of Control. In the event of a Change of Control
prior to the final Vesting Date, all restrictions described in Section 2 shall lapse and
all Restricted Units granted pursuant to this Agreement shall become immediately vested and
nonforfeitable.

     SECTION 5. Limitations on Transfer.

     The Employee agrees that he shall not dispose of (meaning, without limitation, sell,
transfer, pledge, exchange, hypothecate or otherwise dispose of) any Restricted Units
hereby acquired prior to the applicable Vesting Dates, including pursuant to a domestic
relations order issued by a court of competent jurisdiction, unless such transfer is
expressly approved in writing by the Chief Executive Officer of the Company. Any attempted
disposition of the Restricted Units in violation of the preceding sentence shall be null
and void.

     SECTION 6. Nontransferability of Agreement.

     This Agreement and all rights under this Agreement shall not be transferable by the
Employee other than by will or pursuant to applicable laws of descent and distribution.
Any rights and privileges of the Employee in connection herewith shall not be transferred,
assigned, pledged or hypothecated by the Employee or by any other person or persons, in any
way, whether by operation of law, or otherwise, and shall not be subject to execution,
attachment, garnishment or similar process. In the event of any such occurrence, the
Restricted Units shall automatically be forfeited. Notwithstanding the foregoing, all or
some of the Restricted Units or rights under this Agreement may be transferred if such
transfer is approved in writing by the Chief Executive Officer of the Company.

     SECTION 7. Adjustment of Restricted Units.

     The number of Restricted Units granted to the Employee pursuant to this Agreement
shall be adjusted to reflect unit splits or other changes in the capital structure of the
Partnership, all in accordance with the Plan. All provisions of this Agreement shall be
applicable to such new or additional or different units or securities distributed or issued
pursuant to the Plan to the same extent that such provisions are applicable to the Units
with respect to which they were distributed or issued.

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     SECTION 8. Delivery of Vested Units.

     Promptly following the expiration of the restrictions on the Restricted Units as
contemplated in Section 4 of this Agreement, and subject to Section 9, the Company shall
cause to be issued and delivered to the Employee or the Employee’s designee the number of
Restricted Units as to which restrictions have lapsed, free of any restrictive legend
relating to the lapsed restrictions, and shall pay to the Employee any previously unpaid
UDRs distributed with respect to the Restricted Units. Neither the value of the Restricted
Units nor the UDRs shall bear any interest owing to the passage of time.

     SECTION 9. Securities Act.

     The Company shall have the right, but not the obligation, to cause the Restricted
Units to be registered under the appropriate rules and regulations of the SEC. The Company
shall not be required to deliver any Units hereunder if, in the opinion of counsel for the
Company, such delivery would violate the Securities Act of 1933 or any other applicable
federal or state securities laws or regulations. By accepting this grant, the Employee
agrees that any Units that the Employee may acquire upon vesting of this Award will not be
sold or otherwise disposed of in any manner that would constitute a violation of any
applicable federal or state securities laws.

     SECTION 10. Copy of Plan.

     By the execution of this Agreement, the Employee acknowledges receipt of a copy of the
Plan. If any provision of this Agreement is held to be illegal, invalid or unenforceable
under any applicable law, then such provision will be deemed to be modified to the minimum
extent necessary to render it legal, valid and enforceable; and if such provision cannot be
so modified, then this Agreement will be construed as if not containing the provision held
to be invalid, and the rights and obligations of the parties will be construed and enforced
accordingly.

     SECTION 11. Notices.

          Whenever any notice is required or permitted hereunder, such notice must be in writing
and personally delivered or sent by mail. Any such notice required or permitted to be
delivered hereunder shall be deemed to be delivered on the date on which it is personally
delivered or, whether actually received or not, on the third business day (on which banking
institutions in the State of Texas are open) after it is deposited in the United States
mail, certified or registered, postage prepaid, addressed to the person who is to receive
it at the address which such person has theretofore specified by written notice delivered
in accordance herewith. The Company or the Employee may change at any time and from time
to time by written notice to the other, the address which it or he or she previously
specified for receiving notices. The Company and the Employee agree that any notices shall
be given to the Company or to the Employee at the following addresses:

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	Company:

	 	QRE GP, LLC
	 

	 	Attn: Gregory S. Roden
	 

	 	5 Houston Center
	 

	 	1401 McKinney Street, Suite 2400
	 

	 	Phone: (713) 452-2200
	 

	 	Fax: (713) 452-2202
	 
	 	 
	Employee:

	 	At the Employee’s current address as shown in the Company’s records.

     SECTION 12. General Provisions.

     (a) Administration. This Agreement shall at all times be subject to the terms and conditions
of the Plan. The Committee shall have sole and complete discretion with respect to all matters
reserved to it by the Plan and decisions of the Committee with respect thereto and with respect to
this Agreement shall be final and binding upon the Employee and the Company. In the event of any
conflict between the terms and conditions of this Agreement and the Plan, the provisions of the
Plan shall control.

     (b) Continuation of Service. This Agreement shall not be construed to confer upon the
Employee any right to continue in the service of the Partnership Entities.

     (c) Governing Law. This Agreement shall be interpreted and administered under the laws of the
State of Texas, without giving effect to any conflict of laws provisions.

     (d) Amendments. This Agreement may be amended only by a written agreement executed by the
Company and the Employee, except that the Committee may unilaterally waive any conditions or rights
under, amend any terms of, or alter this Agreement provided no such change (other than pursuant to
Section 4(c) or 7(c) of the Plan) materially reduces the rights or benefits of the Employee with
respect to the Restricted Units without his or her consent.

     (e) Binding Effect. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company and upon any person lawfully claiming under the Employee.

     (f) Entire Agreement. This Agreement constitutes the entire agreement of the parties with
regard to this subject matter hereof, and contains all the covenants, promises, representations,
warranties and agreements between the parties with respect to the Restricted Units granted hereby.
Without limiting the scope of the preceding sentence, all prior understandings and agreements, if
any, among the parties hereto relating to the subject matter hereof are hereby null and void and of
no further force and effect.

     (g) No Liability for Good Faith Determinations. Neither the Partnership Entities, nor the
members of the Committee or the Board, nor any officer of the Company, shall be liable for any act,
omission or determination taken or made in good faith with respect to this Agreement or the
Restricted Units granted hereunder.

     (h) No Guarantee of Interests. The Board and the Partnership Entities do not

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guarantee the Units from loss or depreciation.

     (i) Withholding Taxes. To the extent that the grant or vesting of a Restricted Unit or
distribution thereon results in the receipt of compensation by the Employee with respect to which
any Partnership Entity has a tax withholding obligation pursuant to applicable law, unless other
arrangements have been made by the Employee that are acceptable to such Partnership Entity, the
Employee shall deliver to the Partnership Entity such amount of money as the Partnership Entity may
require to meet its withholding obligations under applicable law. No issuance of an unrestricted
Unit shall be made pursuant to this Agreement until the Employee has paid or made arrangements
approved by the Partnership Entity to satisfy in full the applicable tax withholding requirements
of the Partnership Entity with respect to such event.

     (j) Insider Trading Policy. The terms of the Company’s Insider Trading Policy with respect to
Units are incorporated herein by reference.

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its officer
thereunto duly authorized, and the Employee has set his or her hand as to the date and year first
above written.

	 	 	 	 	 
	 	QRE GP, LLC

 	 
	 	By:  	 	 
	 	 	Name:	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	 	 
	 	Employee 	 
	 	 	 	 

7Exhibit 10.34

EXHIBIT 10.34

ADVISORY AND NON-COMPETITION AGREEMENT (2010)

This Advisory and Non-Competition Agreement (2010) (hereinafter sometimes referred to as the
“Agreement”), dated as of November 1, 2010, is by and between Toll Brothers, Inc. (hereinafter
“Company”) and Bruce E. Toll (hereinafter “BET”).

WHEREAS, BET, a founder of the Company, was employed by the Company for many years as its
President, Chief Operating Officer and Secretary and in various capacities with respect to the
Company’s subsidiaries, and, more recently, has been retained continuously since 1998 under a
Consulting and Non-Competition Agreement, dated March 5, 1998, as amended by an Amendment
Agreement, dated June 6, 2000, followed by an Advisory and Non-Competition Agreement, dated as of
November 1, 2004, and Amendments thereto dated as of June 13, 2007 and November 24, 2008 (such
agreements and amendments, to the extent in effect immediately prior to the date hereof, are
sometimes, for convenience, referred to herein collectively as “Original Agreement”).

WHEREAS, the latest term of the Original Agreement expires on October 31, 2010;

WHEREAS, BET, during his many years of service with the Company in executive and other
capacities, has gained knowledge and received information concerning the Company’s business and
operations of a proprietary and confidential nature;

WHEREAS, the Company desires to have the valuable and special knowledge, expertise and
services of BET available to the Company on a continuing basis after expiration of the Original
Agreement, and the Company further desires that BET agree, among other things, to preserve the
Company’s confidences and not compete with the Company during the term of this Agreement and
thereafter to the extent provided herein; and

 

 

 

WHEREAS, in recognition of BET’s continuing contributions to the Company and in exchange for
BET’s covenants contained herein, the Company desires to continue to employ BET and provide him
with the benefits contained in this Agreement; and

WHEREAS, the parties mutually wish to enter into this Agreement.

NOW, therefore, in consideration of the mutual obligations and promises contained herein, and
intending to be legally bound, the Company and BET hereby agree as follows:

1. Recitals. The foregoing recitals are hereby incorporated by reference as if set
forth fully herein.

2. Services; Term, and Title. During the six (6) year period commencing
November 1, 2010 and ending October 31, 2016 (hereinafter the “Term”), the Company agrees to
employ BET as follows: BET agrees to make himself available to the Company and, in particular, to
the Chairman of the Board (“Chairman”) and the Chief Executive Officer of the Company (“CEO”), on a
reasonable basis and at reasonable times and places so as not to interfere with BET’s other
business interests, to consult with the Company, the Chairman and the CEO concerning matters within
his knowledge or expertise. BET’s services shall include, among other things, providing advice,
assistance, information and recommendations with regard to suitable investments to be made by the
Company relating to or compatible with the real estate industry. BET’s title, in connection with
his services hereunder, shall be Special Advisor.

 

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3. Compensation. In consideration of BET’s continued availability and services to the
Company, as provided in Paragraph 2, hereof, and in further consideration of other agreements of
BET herein, including those set forth in Paragraphs 5, 6, 7, 8 and 9, hereof, the Company agrees to
pay BET the amount set forth beside the respective 12 month period of the Term in the following
table:

	 	 	 	 	 

	November 1, 2010 — October 31, 2011
	 	$	675,000	 
	November 1, 2011 — October 31, 2012
	 	$	600,000	 
	November 1, 2012 — October 31, 2013
	 	$	525,000	 
	November 1, 2013 — October 31, 2014
	 	$	450,000	 
	November 1, 2014 — October 31, 2015
	 	$	375,000	 
	November 1, 2015 — October 31, 2016
	 	$	300,000	 

payable in accordance with the Company’s regular pay schedule (which is currently every two weeks).

4. Health Insurance. BET will continue to be entitled during the Term to group health
insurance of the type and amount currently being provided to Company executives.

5. Termination of Compensation.

a. Notwithstanding anything to the contrary in Paragraphs 3 and 4, above, the payments
provided for under Paragraph 3, and the benefit provided in Paragraph 4, hereof, shall terminate
immediately upon BET’s death, Disability or discharge for Cause. For purposes of this Agreement,
the term (i) “Disability” shall mean the inability of BET to fully perform his services under
Paragraph 2, hereof, due to physical, mental or other illness or limitations during a period of 90
consecutive calendar days during the Term or any 90 business days during any 180 consecutive
calendar days during the Term, and (ii) “Cause” shall mean any act of BET that constitutes
embezzlement, theft, commission of a felony or proven dishonesty in the course of his services with
the Company, any material violation by BET of Paragraphs 6, 7, 8 or 9, hereof, or any willful
refusal by BET to perform his services, as described in Paragraph 2, hereof.

b. BET agrees that his benefit under the Company’s Supplemental Executive Retirement Plan
(“SERP”) shall commence to be paid to him by reason of, and following, his separation from service,
as provided for under the terms of the SERP, as amended to comply with applicable provisions of the
Internal Revenue Code (the “Code”) and applicable Treasury
Regulations, including new Code Section 409A added by the American Jobs Creation Act of 2004.

 

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6. Non-Compete. During the longer of (i) the Term and (ii) the remaining period of
BET’s service as Vice Chairman of the Company, BET shall not, without the written consent of the
Company, engage in any of the following prohibited activities (which shall be in addition to any
restrictions or prohibitions contained in any other agreement between Bruce E. Toll and the Company
or in any benefit plan of which BET is a participant, such as the SERP):

a. BET shall not (as an individual, principal, agent, employee, advisor or otherwise),
directly or indirectly, engage in activities relating to or render services:

i. to any firm or business in the homebuilding business, or

ii. so long as BET (including any immediate family members, trusts or other entities for the
benefit of any such persons) is an officer, director, partner or limited partner of, or otherwise
actively, directly or indirectly, engaged in the operation or activities of, a real estate
investment trust (or related operating partnership) formed or sponsored by the Company, to any real
estate investment trust (whether in corporate, trust or partnership form) or operating partnership
(or other similar entity) affiliated with a real estate investment trust; provided that BET shall
not be deemed to be an officer, director, partner or limited partner of a Company-formed or
Company-sponsored real estate investment trust or related operating partnership solely by reason of
his status or conduct as a shareholder or a director of the Company.

iii. so long as Dulles Green, L.P. (or its property), or its general partner, continues to be
controlled or jointly controlled by BET, to any real estate investment
trust (whether in corporate, trust or partnership form) or operating partnership (or other similar
entity) affiliated with a real estate investment trust.

 

4

 

The restrictions in this Paragraph 6.a. shall not prohibit BET from holding an interest in any
public corporation or real estate investment trust in an amount less than 1% of any class of any
such entity’s outstanding equity securities. The restrictions of this Paragraph 6.a. are not
intended to curtail the business of BET Investments, Inc. and its controlled entities or of family
trusts created by BET, except to the extent that any such entities are operated in such a way as to
violate this Paragraph 6.a.

b. BET shall not solicit, induce or encourage any employee, independent contractor, consultant
or advisor to the Company to terminate his, her or its employment or other relationship with the
Company;

c. BET shall not solicit, induce or encourage any customer or vendor of the Company to
terminate his, her or its relationship with the Company, to cease doing business with the Company
or to refrain from giving new business or additional business to the Company.

Given the breadth of BET’s responsibilities, the restrictions in this Paragraph 6 shall apply
(i) in all foreign countries in which the Company owns or owned property or engaged in business
during the Term, and (ii) in any geographical area of the United States.

BET further acknowledges that these restrictions, in view of his long employment, membership
on the Board of Directors, consulting, advisory and other relationships with the Company and the
nature of the business in which the Company is engaged, are reasonable and necessary in order to
protect the legitimate interests of the Company, and that any violation thereof would result in
irreparable injuries to the Company, as to which the Company has no adequate remedy at law. BET,
therefore, acknowledges that, in the event of his violation of any
of these restrictions, the Company shall be entitled to obtain from any court of competent
jurisdiction preliminary and permanent injunctive relief to restrain any such violation, plus
reasonable legal fees, costs and expenses, incurred in connection with any such action which rights
shall be cumulative to and in addition to any other rights or remedies to which the Company may be
entitled to the extent permissible under the laws of the Commonwealth of Pennsylvania.

 

5

 

7. Confidential Information. BET shall not, either during the Term or at any time
thereafter, use for his own personal benefit, or disclose, communicate or divulge or use for the
direct or indirect benefit of any person, firm, association or company other than the Company, any
confidential information regarding the business methods, plans, policies, procedures, techniques,
research or development projects or results, financial results and projections, trade secrets or
other confidential knowledge or confidential processes or information of or developed by the
Company, any confidential information furnished to the Company by customers or clients or any names
and addresses of customers or clients or any data on or relating to past, present or prospective
customers or clients or any other confidential information relating to or dealing with the business
condition, operations or activities of the Company made known to BET or learned or acquired by him
either while in the employ of the Company, including the Term of this Agreement and the term of any
predecessor agreement or amendment described in the first WHEREAS clause, above.

8. Limitation on Authority. BET shall have no authority during the Term to enter into
binding obligations on behalf of the Company without the express written consent of the Company,
and shall not represent to any to any third party that he has such authority.

 

6

 

9. Name Confusion. BET shall not use, in any personal or business venture with which
he is associated, at any time during or after the Term, the name “Toll Brothers” nor, for a period
of two years following the execution of this Agreement, the name “Toll”, in connection with any
business name, nor shall he conduct, at any time during or after the Term, any business in a manner
that may cause confusion with the Company name or business. Notwithstanding the above, this
paragraph will not prohibit BET from conducting personal or business ventures (a) using the name
Bruce Toll, Bruce E. Toll or Toll Management or (b) using the name “Toll” in conjunction with the
name “Reedman” in connection with the automobile business.

10. Delegation; Assignability. BET may not assign his rights, or delegate his
obligations, under this Agreement. This Agreement may be assigned by the Company to any successor
in ownership of all or any part of the Company’s business.

11. Arbitration. Other than claims for equitable remedies, all claims, demands,
disputes, controversies, differences or misunderstandings between the parties arising out of, or by
virtue of, this Agreement shall be submitted to and determined by arbitration, which shall be
conducted before the American Arbitration Association (“AAA”) in accordance with its Commercial
Arbitration Rules then in effect, except as otherwise provided herein. The arbitration shall be
conducted in Philadelphia, Pennsylvania, at a specific location to be agreed upon by the parties
or, if no agreement can be reached, in the Philadelphia office of the AAA. Only one arbitrator,
who shall be neutral, shall be appointed. The parties shall negotiate in an attempt to select a
mutually agreeable arbitrator; in the event they cannot agree within 30 days of the service of the
demand for arbitration, the AAA shall select an arbitrator from its panel of arbitrators.
Discovery shall be permitted in connection with the arbitration only to the extent, if any,
expressly authorized by the arbitrator upon a showing of substantial need by the party
seeking discovery. The arbitrator’s decision shall be binding and conclusive on the parties,
shall not be appealable and shall include a finding for payment of costs of the arbitration.
Judgment on the arbitration award may be entered in any court having jurisdiction.

 

7

 

12. Miscellaneous.

a. Neither the failure nor any delay on the part of either party to exercise any right,
remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power or privilege preclude any other or further
exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any
right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such
right, remedy, power or privilege with respect to any other occurrence. No waiver shall be
effective unless it is in writing and is signed by the party asserted to have granted such waiver.

b. This Agreement and all questions relating to its validity, interpretation, performance and
enforcement (including, without limitation, provisions concerning limitations of actions), shall be
governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.

c. The provisions of this Agreement are independent of and separable from each other, and no
provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any
reason any other or others of them may be invalid or unenforceable in whole or in part. The
paragraph headings in this document are descriptive only and shall not be deemed to be a complete
summary of the contents of such paragraph.

 

8

 

d. This Agreement contains the entire understanding between the parties hereto, and supersedes
all prior and contemporaneous agreements and understandings,
inducements or conditions, express or implied, oral or written, with respect to the subject
matter hereof, including the Original Agreement, provided, however, that this Agreement shall not
affect or supercede that certain “Agreement,” dated March 5, 1998, between the parties hereto, as
amended by paragraph 1 of an “Amendment Agreement,” dated June 6, 2000. The express terms hereof
control and supercede any course of performance of the trade inconsistent with any of the terms
hereof. This Agreement may not be modified or amended other than by an agreement in writing.

e. Nothing in this Agreement shall lessen, or detract from, any obligations, responsibilities
or fiduciary or other duties owed by BET to the Company or its stockholders in his role as an
officer, director, affiliate or employee of the Company or any of its affiliates.

13. Notices. Any notices, demands or other communications arising from this Agreement
shall be effective if in writing given in person or sent by U.S. mail or a nationally recognized
courier service, in all such cases with written acknowledgement of receipt, addressed to:

	 	 	 	 	 

	 

	 	[If to Company:]
	 	Toll Brothers, Inc

250 Gibraltar Road

Horsham, PA 19044
Attention: Douglas Yearley, 

Chief Executive Officer

With a copy to: John McDonald,

General Counsel

	 
	 

	 	[If to BET:]
	 	Bruce E. Toll

250 Gibraltar Road

Horsham, PA 19044

 

9

 

WHEREFORE, with the intention of being legally bound, BET and Company hereby execute this
Agreement as of the date first set forth above.

	 	 	 	 	 	 	 	 	 

	BRUCE E. TOLL	 	 	 	TOLL BROTHERS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Bruce E. Toll

	 	 	 	By:	 	/s/ Douglas C. Yearley, Jr.	 	 
	 

	 	 	 	 	 	 

	 	 
	Date: September 22, 2010	 	 	 	Date: September 22, 2010	 	 

 

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