Document:

Exhibit
10.17

 

ALLIANCE
CAPITAL MANAGEMENT L.P.

UNIT OPTION PLAN AGREEMENT

 

AGREEMENT, dated
December 6, 2002 between Alliance Capital Management L.P. (the “Partnership”),
Alliance Capital Management Holding L.P. (“Alliance Holding”) and Robert H.
Joseph, Jr. (the “Employee”), an employee of the Partnership or a subsidiary of
the Partnership.

 

The Option
Committee (the “Administrator”) of the Board of Directors (the “Board”) of
Alliance Capital Management Corporation, the general partner of the Partnership
and Alliance Holding, pursuant to the 1993 Unit Option Plan, a copy of which
has been delivered to the Employee (the “Plan”), has granted to the Employee an
option to purchase units representing assignments of beneficial ownership of
limited partnership interests in Alliance Holding (the “Units”) as hereinafter
set forth, and authorized the execution and delivery of this Agreement.

 

In accordance with
that grant, and as a condition thereto, the Partnership, Alliance Holding and
the Employee agree as follows:

 

1.             Grant of Option.  Subject to and under the terms and
conditions set forth in this Agreement and the Plan, the Employee is the owner
of an option (the “Option”) to purchase the number of Units set forth in
Section 1 of Exhibit A attached hereto at the per Unit price set forth in
Section 2 of Exhibit A.

 

2.             Term and Exercise Schedule.  This Option shall not be exercisable to any
extent prior to December 6, 2003 or after December 6, 2012 (the “Expiration
Date”).  Subject to the terms and
conditions of this Agreement and the Plan, the Employee shall be entitled to
exercise the Option prior to the Expiration Date and to purchase Units
hereunder in accordance with the schedule set forth in Section 3 of Exhibit A.

 

The right to exercise
this Option shall be cumulative so that to the extent this Option is not
exercised when it becomes initially exercisable with respect to any Units, it
shall be exercisable with respect to such Units at any time thereafter until
the Expiration Date and any Units subject to this Option which have not then
been purchased may not, thereafter, be purchased hereunder.  A Unit shall be considered to have been
purchased on or before the Expiration Date if notice of the purchase has been
given and payment therefor has actually been received pursuant to Sections 3
and 13, on or before the Expiration Date.

 

3.             Notice of Exercise, Payment and
Certificate.  Exercise of this
Option, in whole or in part, shall be by delivery of a written notice to the
Partnership and Alliance Holding pursuant to Section 13 which specifies the
number of Units being purchased and is accompanied by payment therefor in
cash.  Promptly after receipt of such
notice and purchase price, the Partnership and Alliance Holding shall deliver
to the person exercising the Option a certificate for the number of Units
purchased.  Units to be issued upon the
exercise of this Option may be either authorized and unissued Units or Units
which have been reacquired by the Partnership, a subsidiary of the Partnership,
Alliance Holding or a subsidiary of Alliance Holding.

 

 

4.             Termination of Employment.  This Option may be exercised only while the
Employee is a full-time employee of the Partnership, except as follows:

 

(a)           Disability.  If the Employee’s employment with the
Partnership terminates because of Disability, the Employee (or his personal
representative) shall have the right to exercise this Option, to the extent
that the Employee was entitled to do so on the date of termination of his
employment, for a period which ends not later than the earlier of (i) three
months after such termination, and (ii) the Expiration Date.  “Disability” shall mean a determination by
the Administrator that the Employee is physically or mentally incapacitated and
has been unable for a period of six consecutive months to perform the duties
for which he was responsible immediately before the onset of his
incapacity.  In order to assist the
Administrator in making a determination as to the Disability of the Employee
for purposes of this paragraph (a), the Employee shall, as reasonably requested
by the Administrator, (A) make himself available for medical examinations by
one or more physicians chosen by the Administrator and approved by the
Employee, whose approval shall not unreasonably be withheld, and (B) grant the
Administrator and any such physicians access to all relevant medical
information concerning him, arrange to furnish copies of medical records to
them, and use his best efforts to cause his own physicians to be available to
discuss his health with them.

 

(b)           Death.  If the Employee dies (i) while in the employ
of the Partnership, or (ii) within one month after termination of his
employment with the Partnership because of Disability (as determined in
accordance with paragraph (a) above), or (iii) within one month after the
Partnership terminates his employment for any reason other than for Cause (as
determined in accordance with paragraph (c) below), this Option may be
exercised, to the extent that the Employee was entitled to do so on the date of
his death, by the person or persons to whom the Option shall have been
transferred by will or by the laws of descent and distribution, for a period
which ends not later than the earlier of (A) six months from the date of the
Employee’s death, and (B) the Expiration Date.

 

(c)           Other Termination.  If the Partnership terminates the Employee’s
employment for any reason other than death, Disability or for Cause, the
Employee shall have the right to exercise this Option, to the extent that he
was entitled to do so on the date of the termination of his employment, for a
period which ends not later than the earlier of (i) three months after such
termination, and (ii) the Expiration Date. 
“Cause” shall mean (A) the Employee’s continuing willful failure to
perform his duties as an employee (other than as a result of his total or
partial incapacity due to physical or mental illness), (B) gross negligence or
malfeasance in the performance of the Employee’s duties, (C) a finding by a
court or other governmental body with proper jurisdiction that an act or acts
by the Employee constitutes (1) a felony under the laws of the United States or
any state thereof (or, if the Employee’s place of employment is outside of the
United States, a serious crime under the laws of the foreign jurisdiction where
he is employed, which crime if committed in the United 

 

2

 

States would be a
felony under the laws of the United States or the laws of New York), or (2) a
violation of federal or state securities law (or, if the Employee’s place of
employment is outside of the United States, of federal, state or foreign
securities law) by reason of which finding of violation described in this
clause (2) the Board determines in good faith that the continued employment of
the Employee by the Partnership would be seriously detrimental to the
Partnership and its business, (D) in the absence of such a finding by a court
or other governmental body with proper jurisdiction, such a determination in
good faith by the Board by reason of such act or acts constituting such a
felony, serious crime or violation, or (E) any breach by the Employee of any
obligation of confidentiality or non-competition to the Partnership.

 

For purposes of
this Agreement, employment by a subsidiary of the Partnership shall be deemed
to be employment by the Partnership.  A
“subsidiary” of the Partnership shall be any corporation or other entity of
which the Partnership and/or its subsidiaries (a) have sufficient voting power
(not depending on the happening of a contingency) to elect at least a majority
of its board of directors, or (b) otherwise have the power to direct or cause
the direction of its management and policies.

 

5.             Non-Transferability.  This Option is not transferable other than
by will or the laws of descent and distribution and, except as otherwise
provided in Section 4, during the lifetime of the Employee this Option is
exercisable only by the Employee.

 

6.             No Right to Continued Employment.  This Option shall not confer upon the
Employee any right to continue in the employ of the Partnership or interfere in
any way with the right of the Partnership to terminate the employment of the
Employee at any time for any reason.

 

7.             Payment of Withholding Tax.  (a) In the event that the Partnership or
Alliance Holding determines that any federal, state or local tax or any other
charge is required by law to be withheld with respect to the exercise of this
Option, the Employee shall promptly pay to the Partnership or a subsidiary specified
by the Partnership or Alliance Holding, on at least seven business days’
notice, an amount equal to such withholding tax or charge or (b) if the
Employee does not promptly so pay the entire amount of such withholding tax or
charge in accordance with such notice, or make arrangements satisfactory to the
Partnership and Alliance Holding regarding payment thereof, the Partnership or
any subsidiary of the Partnership may withhold the remaining amount thereof
from any amount due the Employee from the Partnership or the subsidiary.

 

8.             Dilution and Other Adjustments.  The existence of this Option shall not
impair the right of the Partnership or Alliance Holding or their respective
partners to, among other things, conduct, make or effect any change in the Partnership’s
or Alliance Holding’s business, any issuance of debt obligations or other
securities by the Partnership or Alliance Holding, any grant of options with
respect to an interest in the Partnership or Alliance Holding or any
adjustment, recapitalization or other change in the partnership interests of
the Partnership or Alliance Holding (including, without limitation, any
distribution, subdivision, or combination of limited partnership interests), or
any incorporation of the Partnership or Alliance Holding.  In the event of such a change in the
partnership interests of the Partnership or Alliance Holding, the Board shall
make such adjustments

 

3

 

to this Option, including the purchase price specified in Section 1, as
it deems appropriate and equitable. In the event of incorporation of the
Partnership or Alliance Holding, the Board shall make such arrangements as it
deems appropriate and equitable with respect to this Option for the Employee to
purchase stock in the resulting corporation in place of the Units subject to
this Option. Any such adjustment or arrangement may provide for the elimination
of any fractional Unit or shares of stock which might otherwise become subject
to this Option.  Any decision by the
Board under this Section shall be final and binding upon the Employee.

 

9.             Rights as an Owner of a Unit.  The Employee (or a transferee of this Option
pursuant to Section 4) shall have no rights as an owner of a Unit with respect
to any Unit covered by this Option until he becomes the holder of record of
such Unit, which shall be deemed to occur at the time that notice of purchase
is given and payment in full is received under Section 3 and 13.  By such actions, the Employee (or such
transferee) shall be deemed to have consented to, and agreed to be bound by,
all other terms, conditions, rights and obligations set forth in the then
current Amended and Restated Agreement of Limited Partnership of Alliance
Holding and the then current Amended and Restated Agreement of Limited
Partnership of the Partnership.  Except
as provided in Section 8, no adjustment shall be made with respect to any Unit
for any distribution for which the record date is prior to the date on which
the Employee becomes the holder of record of the Unit, regardless of whether
the distribution is ordinary or extraordinary, in cash, securities or other
property, or of any other rights.

 

10.           Administrator.  If at any time there shall be no Option
Committee of the Board, the Board shall be the Administrator.

 

11.           Governing Law.  This Agreement shall be governed by and
construed in accordance with the internal laws of the State of New York.

 

12.           Interpretation.  The Employee accepts this Option subject to
all the terms and provisions of the Plan, which shall control in the event of
any conflict between any provision of the Plan and this Agreement, and accepts
as binding, conclusive and final all decisions or interpretations of the Board
or the Administrator upon any questions arising under the Plan and/or this
Agreement.

 

13.           Notices.  Any notice under this Agreement shall be in
writing and shall be deemed to have been duly given when delivered personally
or when deposited in the United States mail, registered, postage prepaid, and
addressed, in the case of the Partnership, to the Secretary of Alliance Capital
Management Corporation at 1345 Avenue of the Americas, New York, New York  10105, or if the Partnership should move its
principal office, to such principal office, in the case of Alliance Holding, to
the Secretary of Alliance Capital Management Corporation at 1345 Avenue of the
Americas, New York, New York 10105, or if Alliance Holding should move its
principal office, to such principal office, and, in the case of the Employee,
to his last permanent address as shown on the Partnership’s records, subject to
the right of either party to designate some other address at any time hereafter
in a notice satisfying the requirements of this Section.

 

4

 

14.           Sections and Headings.  All section references in this Agreement are
to sections hereof for convenience of reference only and are not to affect the
meaning of any provision of this Agreement.

 

	
   

  	
  ALLIANCE CAPITAL MANAGEMENT L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Alliance Capital Management

  Corporation, its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John D. Carifa

  	
   

  
	
   

  	
   

  	
  John D. Carifa

  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ALLIANCE CAPITAL MANAGEMENT HOLDING L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Alliance Capital Management

  Corporation, General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John D. Carifa

  	
   

  
	
   

  	
   

  	
  John D. Carifa

  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Robert H. Joseph, Jr.

  	
   

  
	
   

  	
   

  	
  Robert H. Joseph, Jr.

  

 

5

 

Exhibit A To Unit Option Plan
Agreement Dated December 6, 2002

between Alliance Capital Management L.P.,

Alliance Capital Management Holding L.P. and Robert H. Joseph, Jr.

 

1.                                       The
number of Units that the Employee is entitled to purchase pursuant to the
Option granted under this Agreement is 15,000.

 

2.                                       The
per Unit price to purchase Units pursuant to the Option granted under this
Agreement is $33.18 per Unit.

 

3.                                       Percentage
of Units With Respect to

Which the Option
First Becomes

Exercisable on the
Date Indicated 

 

	
  1.

  	
   

  	
  December 6, 2003

  	
   

  	
  20%

  
	
  2.

  	
   

  	
  December 6, 2004

  	
   

  	
  20%

  
	
  3.

  	
   

  	
  December 6, 2005

  	
   

  	
  20%

  
	
  4.

  	
   

  	
  December 6, 2006

  	
   

  	
  20%

  
	
  5.

  	
   

  	
  December 6, 2007

  	
   

  	
  20%Exhibit
10.18

 

ALLIANCE
CAPITAL MANAGEMENT L.P.

UNIT OPTION PLAN AGREEMENT

 

AGREEMENT, dated
December 6, 2002 between Alliance Capital Management L.P. (the “Partnership”),
Alliance Capital Management Holding L.P. (“Alliance Holding”) and Michael J.
Laughlin (the “Participant”), an employee of the Partnership or a subsidiary of
the Partnership (an “Employee Participant”).

 

The 1997 Option
Committee (the “Administrator”) of the Board of Directors (the “Board”) of
Alliance Capital Management Corporation, the general partner of the Partnership
and Alliance Holding, pursuant to the 1997 Long Term Incentive Plan, a copy of
which has been delivered to the Participant (the “Plan”), has granted to the
Participant an option to purchase units representing assignments of beneficial
ownership of limited partnership interests in Alliance Holding (the “Units”) as
hereinafter set forth, and authorized the execution and delivery of this
Agreement.

 

In accordance with
that grant, and as a condition thereto, the Partnership, Alliance Holding and
the Employee agree as follows:

 

1.             Grant of Option.  Subject to and under the terms and
conditions set forth in this Agreement and the Plan, the Participant is the
owner of an option (the “Option”) to purchase the number of Units set forth in
Section 1 of Exhibit A attached hereto at the per Unit price set forth in
Section 2 of Exhibit A.

 

2.             Term and Exercise Schedule.  This Option shall not be exercisable to any
extent prior to December 6, 2003 or after December 6, 2012 (the “Expiration
Date”).  Subject to the terms and
conditions of this Agreement and the Plan, the Participant shall be entitled to
exercise the Option prior to the Expiration Date and to purchase Units
hereunder in accordance with the schedule set forth in Section 3 of Exhibit A.

 

The right to exercise
this Option shall be cumulative so that to the extent this Option is not
exercised when it becomes initially exercisable with respect to any Units, it
shall be exercisable with respect to such Units at any time thereafter until
the Expiration Date and any Units subject to this Option which have not then
been purchased may not, thereafter, be purchased hereunder.  A Unit shall be considered to have been
purchased on or before the Expiration Date if notice of the purchase has been
given and payment therefor has actually been received pursuant to Sections 3
and 13, on or before the Expiration Date.

 

3.             Notice of Exercise, Payment and
Certificate.  Exercise of this
Option, in whole or in part, shall be by delivery of a written notice to the
Partnership and Alliance Holding pursuant to Section 13 which specifies the
number of Units being purchased and is accompanied by payment therefor in
cash.  Promptly after receipt of such
notice and purchase price, the Partnership and Alliance Holding shall deliver
to the person exercising the Option a certificate for the number of Units
purchased.  Units to be issued upon the
exercise of this Option may be either authorized and unissued Units or Units
which have been reacquired by the Partnership, a subsidiary of the Partnership,
Alliance Holding or a subsidiary of Alliance Holding.

 

 

4.             Termination of Employment.  This Option may be exercised by an Employee
Participant only while the Employee Participant is a full-time employee of the
Partnership, except as follows:

 

(a)           Disability.  If the Employee Participant’s employment
with the Partnership terminates because of Disability, the Employee Participant
(or his personal representative) shall have the right to exercise this Option,
to the extent that the Employee Participant was entitled to do so on the date
of termination of his employment, for a period which ends not later than the
earlier of (i) three months after such termination, and (ii) the Expiration
Date.  “Disability” shall mean a determination
by the Administrator that the Employee Participant is physically or mentally
incapacitated and has been unable for a period of six consecutive months to
perform the duties for which he was responsible immediately before the onset of
his incapacity.  In order to assist the
Administrator in making a determination as to the Disability of the Employee
Participant for purposes of this paragraph (a), the Employee Participant shall,
as reasonably requested by the Administrator, (A) make himself available for
medical examinations by one or more physicians chosen by the Administrator and
approved by the Employee Participant, whose approval shall not unreasonably be
withheld, and (B) grant the Administrator and any such physicians access to all
relevant medical information concerning him, arrange to furnish copies of
medical records to them, and use his best efforts to cause his own physicians
to be available to discuss his health with them.

 

(b)           Death.  If the Employee Participant dies (i) while
in the employ of the Partnership, or (ii) within one month after termination of
his employment with the Partnership because of Disability (as determined in
accordance with paragraph (a) above), or (iii) within one month after the
Partnership terminates his employment for any reason other than for Cause (as
determined in accordance with paragraph (c) below), this Option may be
exercised, to the extent that the Employee Participant was entitled to do so on
the date of his death, by the person or persons to whom the Option shall have
been transferred by will or by the laws of descent and distribution, for a
period which ends not later than the earlier of (A) six months from the date of
the Employee Participant’s death, and (B) the Expiration Date.

 

(c)           Other Termination.  If the Partnership terminates the Employee
Participant’s employment for any reason other than death, Disability or for
Cause, the Employee Participant shall have the right to exercise this Option,
to the extent that he was entitled to do so on the date of the termination of
his employment, for a period which ends not later than the earlier of (i) three
months after such termination, and (ii) the Expiration Date.  “Cause” shall mean (A) the Employee
Participant’s continuing willful failure to perform his duties as an employee
(other than as a result of his total or partial incapacity due to physical or
mental illness), (B) gross negligence or malfeasance in the performance of the
Employee Participant’s duties, (C) a finding by a court or other governmental body
with proper jurisdiction that an act or acts by the Employee Participant
constitutes (1) a felony under the laws of the United States or any state
thereof (or, if the Employee Participant’s place of employment is outside of
the United States, a serious crime under the laws of the foreign jurisdiction
where he is employed, which crime if committed in the United States would be a
felony under the laws of the 

 

2

 

United States or
the laws of New York), or (2) a violation of federal or state securities law
(or, if the Employee Participant’s place of employment is outside of the United
States, of federal, state or foreign securities law) by reason of which finding
of violation described in this clause (2) the Board determines in good faith
that the continued employment of the Employee Participant by the Partnership
would be seriously detrimental to the Partnership and its business, (D) in the
absence of such a finding by a court or other governmental body with proper
jurisdiction, such a determination in good faith by the Board by reason of such
act or acts constituting such a felony, serious crime or violation, or (E) any
breach by the Employee Participant of any obligation of confidentiality or
non-competition to the Partnership.

 

For purposes of
this Agreement, employment by a subsidiary of the Partnership shall be deemed
to be employment by the Partnership.  A
“subsidiary” of the Partnership shall be any corporation or other entity of
which the Partnership and/or its subsidiaries (a) have sufficient voting power
(not depending on the happening of a contingency) to elect at least a majority
of its board of directors, or (b) otherwise have the power to direct or cause
the direction of its management and policies.

 

5.             No Right to Continued Employment.   This Option shall not confer upon the
Participant any right to continue in the employ of the Partnership or any
subsidiary of the Partnership or to be retained as a Director, and shall not
interfere in any way with the right of the Partnership to terminate the service
of the Participant at any time for any reason.

 

6.             Non-Transferability.  This Option is not transferable other than
by will or the laws of descent and distribution and, except as otherwise
provided in Section 4, during the lifetime of the Participant this Option is
exercisable only by the Participant; except that a Participant may transfer
this Option, without consideration, subject to such rules as the Committee may
adopt to preserve the purposes of the Plan (including limiting such transfers
to transfers by participants who are senior executives), to a trust solely for
the benefit of the Participant and the Participant’s spouse, children or
grandchildren (including adopted and stepchildren and grandchildren) (each a
“Permitted Transferee”).

 

7.             Payment of Withholding Tax.  (a) In the event that the Partnership or
Alliance Holding determines that any federal, state or local tax or any other
charge is required by law to be withheld with respect to the exercise of this
Option, the Participant shall promptly pay to the Partnership or a subsidiary
specified by the Partnership or Alliance Holding, on at least seven business
days’ notice, an amount equal to such withholding tax or charge or (b) if the
Participant does not promptly so pay the entire amount of such withholding tax
or charge in accordance with such notice, or make arrangements satisfactory to
the Partnership and Alliance Holding regarding payment thereof, the Partnership
or any subsidiary of the Partnership may withhold the remaining amount thereof
from any amount due the Participant from the Partnership or the subsidiary.

 

8.             Dilution and Other Adjustments.  The existence of this Option shall not
impair the right of the Partnership or Alliance Holding or their respective
partners to, among other things, conduct, make or effect any change in the
Partnership’s or Alliance Holding’s business, any issuance of debt obligations
or other securities by the Partnership or Alliance Holding, any grant of options
with respect to an interest in the Partnership or Alliance Holding or any
adjustment, recapitalization or other change in the partnership interests of
the Partnership or Alliance Holding (including, without limitation, any 

 

3

 

distribution, subdivision, or combination of limited partnership
interests), or any incorporation of the Partnership or Alliance Holding.  In the event of such a change in the
partnership interests of the Partnership or Alliance Holding, the Board shall
make such adjustments to this Option, including the purchase price specified in
Section 1, as it deems appropriate and equitable. In the event of incorporation
of the Partnership or Alliance Holding, the Board shall make such arrangements
as it deems appropriate and equitable with respect to this Option for the
Participant to purchase stock in the resulting corporation in place of the
Units subject to this Option.  Any such
adjustment or arrangement may provide for the elimination of any fractional
Unit or shares of stock which might otherwise become subject to this
Option.  Any decision by the Board under
this Section shall be final and binding upon the Participant.

 

9.             Rights as an Owner of a Unit.  The Participant (or a transferee of this
Option pursuant to Sections 4 and 6) shall have no rights as an owner of a Unit
with respect to any Unit covered by this Option until he becomes the holder of
record of such Unit, which shall be deemed to occur at the time that notice of
purchase is given and payment in full is received under Section 3 and 13.  By such actions, the Participant (or such
transferee) shall be deemed to have consented to, and agreed to be bound by,
all other terms, conditions, rights and obligations set forth in the then
current Amended and Restated Agreement of Limited Partnership of Alliance
Holding and the then current Amended and Restated Agreement of Limited
Partnership of the Partnership.  Except
as provided in Section 8, no adjustment shall be made with respect to any Unit
for any distribution for which the record date is prior to the date on which
the Participant becomes the holder of record of the Unit, regardless of whether
the distribution is ordinary or extraordinary, in cash, securities or other
property, or of any other rights.

 

10.           Administrator.  If at any time there shall be no 1997 Option
Committee of the Board, the Board shall be the Administrator.

 

11.           Governing Law.  This Agreement shall be governed by and
construed in accordance with the internal laws of the State of New York.

 

12.           Interpretation.  The Participant accepts this Option subject
to all the terms and provisions of the Plan, which shall control in the event
of any conflict between any provision of the Plan and this Agreement, and
accepts as binding, conclusive and final all decisions or interpretations of
the Board or the Administrator upon any questions arising under the Plan and/or
this Agreement.

 

13.           Notices.  Any notice under this Agreement shall be in
writing and shall be deemed to have been duly given when delivered personally
or when deposited in the United States mail, registered, postage prepaid, and
addressed, in the case of the Partnership, to the Secretary of Alliance Capital
Management Corporation at 1345 Avenue of the Americas, New York, New York  10105, or if the Partnership should move its
principal office, to such principal office, in the case of Alliance Holding, to
the Secretary of Alliance Capital Management Corporation at 1345 Avenue of the
Americas, New York, New York 10105, or if Alliance Holding should move its
principal office, to such principal office, and, in the case of the
Participant, to his last permanent address as shown on the Partnership’s
records, subject to the right of either party to designate some other address
at any time hereafter in a notice satisfying the requirements of this Section.

 

4

 

14.           Sections and Headings.  All section references in this Agreement are
to sections hereof for convenience of reference only and are not to affect the
meaning of any provision of this Agreement.

 

	
   

  	
  ALLIANCE CAPITAL MANAGEMENT L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Alliance Capital Management

  Corporation, its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John D. Carifa

  	
   

  
	
   

  	
   

  	
  John D. Carifa

  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ALLIANCE CAPITAL MANAGEMENT HOLDING L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Alliance Capital Management

  Corporation, General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John D. Carifa

  	
   

  
	
   

  	
   

  	
  John D. Carifa

  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Michael J. Laughlin

  	
   

  
	
   

  	
   

  	
  Michael J. Laughlin

  

 

5

 

Exhibit A To Unit Option Plan
Agreement Dated December 6, 2002

between Alliance Capital Management L.P.,

Alliance Capital Management Holding L.P. and Michael J. Laughlin

 

1.                                       The
number of Units that the Participant is entitled to purchase pursuant to the
Option granted under this Agreement is 40,000.

 

2.                                       The
per Unit price to purchase Units pursuant to the Option granted under this
Agreement is $33.18 per Unit.

 

3.                                       Percentage
of Units With Respect to

Which the Option
First Becomes

Exercisable on the
Date Indicated 

 

	
  1.

  	
   

  	
  December 6, 2003

  	
   

  	
  20%

  
	
  2.

  	
   

  	
  December 6, 2004

  	
   

  	
  20%

  
	
  3.

  	
   

  	
  December 6, 2005

  	
   

  	
  20%

  
	
  4.

  	
   

  	
  December 6, 2006

  	
   

  	
  20%

  
	
  5.

  	
   

  	
  December 6, 2007

  	
   

  	
  20%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]