Document:

Exhibit 10.1

 

FORM OF EXECUTIVE SEVERANCE AGREEMENT

 

	
  Date:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Subject:

  	
   

  	
  Executive Severance
  Plan

  
	
   

  	
   

  	
   

  
	
  From:

  	
   

  	
  Kathy Kennedy

  
	
   

  	
   

  	
   

  
	
  To:

  	
   

  	
  Participant Name

  

 

As part of the Dade Behring leadership team, you play
an important role in Dade Behring.  To
recognize your dedication and commitment towards our vision and future business
success, I am pleased to inform you of your participation in the improved
Executive Severance Plan which will provide you with additional financial
security while finding new employment or pursuing other goals in the event of
an involuntary termination.

 

EXECUTIVE SEVERANCE PLAN

 

1.             (A)          If
you are “involuntarily terminated” (as defined in Section 2 below) by the
Company other than as set forth in Section 1(B), you will be entitled to receive
(1) your base salary payable in regular payroll installments from the date
of such termination for 12 months (less applicable withholdings), (2) a
bonus equal to your target bonus in the year of your termination, payable over
12 months in regular payroll installments from the date of such termination
(less applicable withholding) and (3) a bonus equal to the bonus you would
have received had you remained employed for the entire bonus period (the amount
to be determined by the Compensation Committee or Board in good faith), pro
rated based on the number of days that have elapsed during the year through the
date of termination (and payable in accordance with normal Company policy)
(less applicable withholding).

 

(B)           If
your involuntary termination occurs on or within two years after or in
anticipation of a Change in Control (as defined in the 2004 Incentive
Compensation Plan), you will be entitled to receive in one lump sum payment
within thirty (30) days after the involuntary termination two times your annual
base salary and two times the higher of your target bonus in the year of your
termination or your target bonus in the preceding year.  In addition with respect to such involuntary
termination, you will be entitled to receive a bonus equal to the greater of (1) a
bonus equal to the bonus you would have received had you remained employed for
the entire bonus period or (2) your target bonus for the entire bonus
period, in each case prorated based on the number of days that have elapsed
during the year through the day of termination. 
You will also be entitled to receive no later than thirty (30) days
after the involuntary termination the bonus, if any, for the preceding bonus
period which was determined for you, to the extent such bonus has not yet been
paid, and if the bonus for such preceding period has not yet been determined
prior to a Change in Control, the bonus for such preceding period shall not be
less than the greater of (i) your target bonus for

 

 

EXECUTIVE SEVERANCE PLAN

                        ,
2005

 

such period or (ii) the
bonus calculated under such bonus plan and the bonus shall be paid in
accordance with historic normal Company policy as to the timing of bonuses.

 

(C)           In
addition, if you are involuntarily terminated (as defined in Section 2
below), the Company shall provide you with executive outplacement
services.  For one year following an
involuntary termination described in Section 1(A) or two years
following an involuntary termination described in Section 1(B), the
Company shall provide you (and your family to the extent your family was
covered under the Company’s health plan at the date of your termination of
employment) with health benefits at the same level as active employees provided
you pay the Company on a monthly basis the portion of the periodic cost of such
continued coverage equal to the dollar amount you would have contributed if you
remained an active employee.  To the
extent permissible, the end of such coverage period shall be treated as the “qualifying
event” for purposes of COBRA continuation coverage.  If the Company determines it is unable or it
violates applicable nondiscrimination requirements to provide some or all of
the health benefits in this Section 1(C) under any of its health plan
options, the Company will use its best efforts to purchase for you (and your
family to the extent your family was covered under the Company’s health plan at
the date of your termination of employment) health insurance coverage for the
periods set forth in this paragraph at a comparable cost to the Company.

 

(D)          Payments
and benefits under this Section will only be paid if you have executed and
delivered to the Company a general release in form and substance satisfactory
to the Company which includes a release of age discrimination claims under the
Age Discrimination in Employment Act of 1967, as amended (including the Older
Workers Benefit Protection Act) and only so long as you have not breached the
provisions of Sections 4 and 5 below.

 

(E)           For
purposes of this letter agreement, “Company” shall mean Dade Behring Holdings, Inc.
and its subsidiaries.

 

2.             “Involuntary
termination” means a termination by the Company OTHER THAN if:

 

(A)          you
choose to leave the Company, other than in connection with (i) a
diminution in your position (including status, titles or reporting
requirements), authority, duties or responsibilities (including the assignment
to you of any duties inconsistent with your position, authority, duties or
responsibilities) or terms and conditions of employment, excluding for this
purpose an isolated, insubstantial and inadvertent action not taken in bad
faith and which is remedied by the Company promptly after receipt of notice
thereof given by you, (ii) a reduction of your base salary or bonus
opportunity (as the same may be increased from time to time), or (iii) the
relocation of your primary business location to a place more than fifty (50)
miles from its present location, without your consent;

 

2

 

(B)           you
are terminated for cause (as defined in the Dade Behring 2002 Management Stock
Option Plan); or

 

(C)           you
elect to accept a comparable position either within the Company or with a
successor employer, for example, a purchaser of your business unit, if sold.

 

3.             If you become
entitled to any payments or benefits whether pursuant to the terms of or by
reason of this letter agreement or any other plan, arrangement, agreement,
policy or program (including without limitation any stock option, restricted
stock, stock appreciation right or similar right, or the lapse or termination
of any restriction on the vesting or exercisability of any of the foregoing)
with the Company, any successor to the Company or to all or a part of the
business or assets of the Company (whether direct or indirect, by purchase,
merger, consolidation, spin off, or otherwise and regardless of whether such
payment is made by or on behalf of the Company or such successor) or any person
whose actions result in a change of control or any person affiliated with the
Company or such persons (in the aggregate, “Payments” or singularly, “Payment”),
which Payments are reasonably determined by you to be subject to the tax
imposed by Section 4999 or any successor provision of the Internal Revenue
Code of 1986, as amended or any similar state or local tax, or any interest or
penalties are incurred by you with respect to such excise tax (such excise tax,
together with any such interest and penalties, are hereinafter collectively
referred to as the “Excise Tax”), the Company shall pay you an additional
amount (“Gross-Up Payment”) such that the net amount retained by you, after
deduction or payment of (i) any Excise Tax on Payments, (ii) any
federal, state and local income tax and Excise Tax upon the payment provided
for by this Section, and (iii) any additional interest and penalties
imposed because the Excise Tax is not paid when due, shall be equal to the full
amount of the Payments.  The Gross-Up
Payment shall be paid to you within thirty (30) days of the Company’s receipt of
written notice from you that the Excise Tax has been paid, is or was payable or
will be payable at any time in the future.

 

Notwithstanding the
preceding paragraph of this Section 3, the Company will not have any
obligation to make the Gross-Up Payment unless the value of the Payments
exceeds 110% of the maximum amount of Payments that could be paid to you
without any imposition of Excise Taxes (the “110% Amount”). If the value of the
Payments does not exceed the 110% Amount, the Payments will be reduced to the
maximum amount of Payments that could be paid to you without any imposition of
Excise Taxes.

 

For purposes of
determining the amount of payments pursuant to Section 3, you shall be
deemed to pay federal income taxes at the highest marginal rate of federal
income taxation in the calendar year in which the payment is to be made and
state and local income taxes at the highest marginal rates of taxation in the
state and locality of your residence or your place of business, whichever is
higher, on the date the payment is to be made.

 

4.             You acknowledge that
in the course of your employment with the Company you have become familiar with
the Company’s trade secrets and with other confidential information concerning
the Company and that your services have been and shall be of special, unique
and extraordinary value to the Company. 
Therefore, you agree that, during your employment with the Company and
for one year thereafter if your employment terminates other than pursuant to Section 1(B) or
for two years thereafter if your employment terminates pursuant to Section 1(B) (the
“NONCOMPETE PERIOD”), you shall not directly or indirectly own any interest in,
manage, control,

 

3

 

participate in,
consult with, render services for, or in any manner engage in any business
competing with the businesses of the Company, as such businesses exist or are
in process during your employment with the Company on the date of the
termination of your employment, within any geographical area in which the
Company engages or plans to engage in such businesses.  Nothing herein shall prohibit you from being
a passive owner of not more than 2% of the outstanding stock of any class of a
corporation which is publicly traded, so long as you have no active
participation in the business of such corporation.

 

5.             During the Noncompete
Period, you shall not directly or indirectly through another person or entity (i) induce
or attempt to induce any employee of the Company to leave the employ of the Company,
or in any way interfere with the relationship between the Company and any
employee thereof, (ii) hire any person who was an employee of the Company
at any time during your employment or (iii) induce or attempt to induce
any customer, supplier, licensee, licensor, franchisee or other business
relation of the Company to cease doing business with the Company, or in any way
interfere with the relationship between any such customer, supplier, licensee
or business relation and the Company (including, without limitation, making any
negative or disparaging statements or communications regarding the Company).

 

6.             If, at the time of
enforcement of Section 4 or 5 of this letter, a court holds that the
restrictions stated herein are unreasonable under circumstances then existing,
you and the Company agree that the maximum period, scope or geographical area
reasonable under such circumstances shall be substituted for the stated period,
scope or area.  Because your services are
unique and because you have access to confidential information and work
product, you and the Company agree that money damages would not be an adequate
remedy for any breach of this letter agreement. 
Therefore, in the event a breach or threatened breach of this letter
agreement, the Company or its successors or assigns, in addition to other
rights and remedies existing in their favor, shall be entitled to specific
performance and/or injunctive or other equitable relief from a court of
competent jurisdiction in order to enforce, or prevent any violations of, the
provisions hereof (without posting a bond or other security).  In addition, in the event of an alleged
breach or violation by you of Section 4, the Noncompete Period shall be
tolled until such breach or violation has been duly cured.  You acknowledge that the restrictions
contained in Sections 4 and 5 are reasonable and that you have reviewed the
provisions of this letter agreement with your legal counsel.

 

7.             Whenever possible,
each provision of this letter agreement shall be interpreted in such manner as
to be effective and valid under applicable law, but if any provision of this
letter agreement is held to be invalid, illegal or unenforceable in any respect
under any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other provision or any
action in any other jurisdiction, but this letter agreement shall be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein.

 

4

 

8.             The Executive
Severance Plan is intended to be an unfunded plan maintained by the Company for
a select group of management or highly compensated employees as described in
the regulations pursuant to the Employee Retirement Income Security Act of
1974, as amended and will be interpreted accordingly.  Administrative information regarding the
Executive Severance Plan and the claims procedure under the Executive Severance
Plan is set forth in Appendix A.

 

9.             If, after a Change in
Control (as defined in the 2004 Incentive Compensation Plan), you or your
estate or your heirs prevails in any action to enforce your rights under this
letter agreement, you shall be entitled to receive your attorney’s fees, costs
and expenses incurred in enforcing your rights under this letter agreement, as
well as interest at the Prime Rate as published in the Wall Street Journal from time to time on
the amount of the judgment from the date of demand for payment hereunder
through the date of receipt of the amount of the judgment.

 

10.           This letter agreement,
those documents expressly referred to herein and other documents of even date
herewith embody the complete agreement and understanding among you and the
Company and supersede and preempt any prior understandings, agreements or
representations by or among the parties, written or oral, which may have
related to the subject matter hereof in any way, except your Agreement dated                       ,
2002 attached hereto.  You hereby agree
that in consideration for and subject to the receipt of payments to be received
under this letter agreement, you waive any and all rights to severance payments
or benefits under any other plans, programs, contracts or arrangements of the
Company except as provided in any incentive or equity grant.

 

11.           You agree to keep the
terms, conditions and amounts payable under this executive severance plan
strictly confidential.  Failure to
respect this confidentiality will jeopardize participation in the plan.

 

12.           If you are rehired
during the period you are receiving severance payments, your severance payments
will stop on your rehire date and your future participation in the executive
severance plan will be determined by the Board based on the facts and
circumstances of your rehire.

 

13.           If you die while
receiving severance pay, any remaining severance will be paid to your estate or
heirs.

 

14.           If your severance pay
has been overpaid or wrongfully paid, you must return the overpayment to the
Company.  If you fail to return the
overpayment upon notification, you may not receive future severance pay.  In addition, the Company may take appropriate
steps to collect the overpayment.

 

15.           If your address changes
while you are receiving severance pay and you do not notify the Company, your
severance pay may be delayed.

 

5

 

Working together, we can leverage our strengths,
manage through our challenges and anticipate a very positive future.  I very much look forward to working with you
as we progress together.

 

Congratulations!

 

	
  /s/ Kathy
  Kennedy

  	
   

  
	
   

  
	
  Kathy Kennedy

  
	
  Senior Vice
  President Human Resources

  
	
   

  
	
  Agreed and
  Acknowledged

  
	
   

  
	
   

  
	
   

  	
   

  
	
  Participant Name

  
			

 

6

 

APPENDIX A

 

Plan Sponsor and
Administrator

 

Dade Behring, Inc. sponsors the Executive
Severance Plan.

 

The plan administrator of the Executive Severance Plan
is the Compensation Committee or such other committee appointed by Dade Behring’s
Board of Directors.

 

The Senior Vice President, Human Resources is your
primary source of information about the Executive Severance Plan. If you have
questions the Senior Vice President, Human Resources cannot answer
satisfactorily, you may contact the plan administrator at:

 

Compensation Committee

c/o Dade Behring Inc.

1717 Deerfield Road

Deerfield, IL 60015

 

Plan Identification

 

The plan’s official name is the Dade Behring Executive
Severance Plan and the official plan number 503.

 

Claims Procedure

 

Should any claim you make be denied, you will receive
a written or electronic explanation of the decision within 90 days (180 days if
the plan administrator informs you of the need for an extension and the
expected decision date) after the original claim was filed.  The explanation will:

 

a)     Describe the reason(s) your
claim was denied;

b)    Reference any plan provision
on which the denial is based;

c)     Describe any additional
information needed to reach a decision on your claim;

d)    Explain why the additional
information is necessary;

e)     Describe the plan’s claims
procedure and the time limits applicable to such procedures; and

f)     Describe your right to bring
a civil action under Sections 502(a) of ERISA.

 

If you do not receive a written or electronic response
to your claim within 90 days (180 days if the plan administrator informs you of
the need for an extension and the expected decision date), your claim will be
deemed denied.  If your claim is denied
(or deemed denied), you may then have your claim denial reviewed.

 

If you want to have the decision reviewed, you must
submit a written or electronic request for a review to the plan administrator
within 60 days after you receive your explanation of denial (or when your claim
is deemed denied).  You can have a lawyer
represent you.  Written or electronic

 

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comments, documents, records and other information
relating to the claim for benefits may be submitted to the plan administrator
along with the review request.  During
the 60-day period following notice of denial, you or your authorized
representative may receive, upon request and free of charge, reasonable access
to, and copies of, all documents, records and other information relied upon,
submitted, considered, generated or showing procedural compliance in connection
with your claim.  The review will take
into account all comments, documents, records and other information submitted
without regard to whether such information was submitted or considered in the
initial determination.

 

Upon receipt of a request for review of a claim
denial, the plan administrator will undertake a full and fair review and
provide you with written or electronic notice of its decision.  A final decision will be made within 60 days
(120 days if the plan administrator informs you of the need for an extension
and the expected decision date) after the plan’s receipt of your request for
review.  However, if the period of time
is extended due to your failure to submit information necessary to decide the
claim, the period for making the benefit determination on review will be tolled
from the date on which extension notice is sent to you until the date on which
you respond to the request for additional information.

 

If your claim is wholly or partially denied on review,
the notice of the decision on review will inform you of the specific reasons
for the decision, the specific provisions of the Plan upon which the decision
is based, a statement that you are entitled to receive, upon request and free
of charge, reasonable access to, and copies of, all documents, records and
other information relied upon, submitted, considered, generated or showing
procedural compliance in connection with your claim for benefits and a
statement of your right to bring action under Section 502(a) of
ERISA.

 

If you do not receive a written or electronic response
to your request for a review within 60 days (120 days if the plan administrator
informs you of the need for an extension and the expected decision date), the
claim will be deemed denied on review.

 

You may contact the plan administrator if you need
assistance requesting a review.

 

Plan Interpretation

 

You should be aware that prior to a Change in Control
the plan administrator has full discretion and authority to make the final
decision regarding all areas of plan interpretation and administration,
including eligibility for benefits, level of benefits provided, interpretation
of plan language or administrative procedures.

 

For a termination of employment prior to a Change in
Control, and not in anticipation of a Change in Control, the decision of the
plan administrator is final and binding on all individuals dealing with or
claiming benefits under the plan, and, if challenged in court, the plan intends
for the plan administrators’ decisions to be upheld, unless found by a court of
competent authority to be arbitrary and capricious.

 

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For a termination of employment in anticipation of or
on or after a Change in Control, the arbitrary and capricious standard of
review shall not apply and there shall be no presumption in favor of either
party in interpreting the provisions of the Executive Severance Plan.

 

9

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT, (the “Agreement”)
is made and entered into as of the 3rd day of October, 2002, by and between DADE BEHRING HOLDINGS, INC., a Delaware corporation
(together with its subsidiary and affiliated companies, the “Company”), and «First_Name» «Last_Name»
of «US_State__Country» (“Executive”).

 

W I  T  N  E
S  S  E  T  H:

 

THAT,
WHEREAS, the Company is in the worldwide business of, among
other things, manufacturing and marketing instruments and related products and
services for the in vitro diagnostics testing market; and

 

WHEREAS, Executive
has been employed by the Company to render services to the Company and to make
contributions to the success and growth of the Company; and

 

WHEREAS,
Executive desires that the Company execute a certain Executive Agreement (the “Acceptance
and Acknowledgment Form”) setting forth the terms pursuant to which the Company
is to grant Executive an equity participation in the Company under the Dade
Behring 2002 Management Stock Option Plan; and

 

WHEREAS,
the Company promises to execute the Acceptance and Acknowledgment Form contemporaneously
with the Executive’s signing of this Agreement; and

 

WHEREAS, the
Company and the Executive mutually desire to enter into an agreement providing
certain terms and conditions for the employment of Executive by the Company as
provided hereinbelow;

 

NOW,
THEREFORE, in consideration of the premises set forth above,
Executive’s continued employment by the Company, the compensation to be paid to
Executive by the Company, the covenants and agreements set forth in the
Acceptance and Acknowledgment Form, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, it
is hereby agreed as follows:

 

1.             Conflicts
of Interest.  Executive will
exert his/her best efforts in the performance of his/her duties as an employee
of the Company and will remain loyal to the Company during the term of his/her
employment with the Company.  Executive
represents, warrants and agrees that he/she is not presently engaged in, nor
shall he/she, during the term of his/her employment with the Company, enter
into any employment or agency relationship with any third party whose interests
might conflict with those of the Company. 
Executive further represents, warrants and agrees that he/she does not
presently, nor shall he/she, during the term of his/her employment with the
Company, possess any significant interest, directly or indirectly, including
without limitation through Executive’s family or through organizations or
trusts controlled by Executive, in any third party whose interest might
conflict with those of the Company.

 

10

 

2.             Confidentiality.  (A) As used herein, the term “Confidential
Information” shall mean any and all information, including, but not limited to,
all data, compilations, programs, devices, strategies, concepts, ideas or
methods concerning or related to (i) the Company’s financial condition,
results of operations, and amounts of compensation paid to officers and
employees; (ii) marketing and sales programs of the Company and the terms
and conditions (including prices) of sales and offers of sales of products
and/or services by the Company; (iii) the terms, conditions and current
status of the Company’s agreements and relationships with any customers,
suppliers or patients; (iv) the identities and business preferences of the
Company’s actual and prospective customers and suppliers or any employee or
agent thereof with whom the Company communicates; (v) the Trade Secrets
and know-how, manufacturing processes and techniques, regulatory approval
strategies, computer programs, data, formulae, and compositions, service
techniques and protocols, new product designs and other skills, ideas, and
strategic plans possessed, developed, accumulated or acquired by the Company; (vi) any
communications between the Company, its officers, directors, shareholders or
employees, and any attorney retained by the Company for any purpose, or any
person retained or employed by such attorney for the purpose of assisting such
attorney in his or her representation of the Company; and (vii) any other
matter or thing, whether or not recorded on any medium, (a) by which the
Company derives actual or potential economic value from such matter or thing
being not generally known to other persons or entities who might obtain
economic value from its disclosure or use, or (b) which gives the Company
an opportunity to obtain an advantage over its competitors who do not know or
use the same.

 

(B)           Executive
acknowledges and agrees that the Company is engaged in the highly competitive
in vitro diagnostics testing instruments and related products and services
industry, and has expended, or will expend, significant sums of money and has
invested, or will invest, a substantial amount of time to develop and use, and
maintain the secrecy of, the Confidential Information and Trade Secrets.  The Company has thus obtained, or will
obtain, a valuable economic asset which has enabled, or will enable, it to
develop an extensive reputation and to establish long-term business
relationships with its suppliers, customers and patients.  If such Confidential Information and/or Trade
Secrets were disclosed to another person or entity or used for the benefit of
anyone other than the Company, the Company would suffer irreparable harm, loss
and damage.  Accordingly, Executive
acknowledges and agrees that, unless the Confidential Information and/or Trade
Secrets becomes publicly known through legitimate origins not involving an act
or omission by Executive:

 

(i)            the
Confidential Information and Trade Secrets are, and at all times hereafter
shall remain, the sole property of the Company;

 

(ii)           Executive
shall use his/her best efforts and the utmost diligence to guard and protect
the Confidential Information and Trade Secrets from any unauthorized disclosure
to any competitor, supplier or customer of the Company or any other person,
firm, corporation, or other entity;

 

(iii)          unless
the Company gives Executive prior express written permission, during his
employment and thereafter, Executive shall not, use for his own benefit, or
divulge to any

 

11

 

competitor,
supplier or customer or any other person, firm, corporation, or other entity,
the Confidential Information or Trade Secrets which Executive may obtain, learn
about, develop, or be entrusted with as a result of Executive’s employment by
the Company; and

 

(iv)          except
in the ordinary course of the Company’s business, Executive shall not seek or
accept any Confidential Information or Trade Secrets from any former, present,
or future employee of the Company.

 

(C)           Executive
also acknowledges and agrees that all documentary and tangible Confidential
Information and Trade Secrets including, without limitation, such Confidential
Information and Trade Secrets as Executive has committed to memory, is supplied
or made available by the Company to the Executive solely to assist him in
performing services for and on behalf of the Company.  Executive further agrees that after his/her
employment with the Company is terminated for any reason:

 

(i)            Executive
shall not remove from Company property, and shall immediately return to the
Company, all documentary or tangible Confidential Information and Trade Secrets
in his/her possession, custody, or control and not make or keep any copies,
notes, abstracts, summaries, tapes or other record of any type of Confidential
Information or Trade Secrets; and

 

(ii)           Executive
shall immediately return to the Company any and all other Company property in
his/her possession, custody or control, including, without limitation, any and
all keys, security cards, passes, credit cards, and marketing literature.

 

3.             Non-Competition.  (A) Executive hereby agrees that unless
his/her employment by the Company hereunder shall be terminated by the
Executive by reason of material breach by the Company of its obligations to
Executive hereunder, Executive will not, prior to the expiration of one (1) year
after he/she shall cease to be employed by the Company, without the consent in
writing of the Company, engage in or become directly or indirectly interested
in any proprietorship, partnership, trust or corporation (whether as owner,
partner, trustee, beneficiary, stockholder, officer, director, employee,
consultant, lessor, lessee or otherwise) which shall engage anywhere within
such geographic limits as the Company and such entity are, or would be, in
actual competition, in any business activity competitive with the business
activities of the Company, including, without limitation, in connection with
research or development, production, distribution, marketing, providing or
selling of products, processes, or services, in existence or under development,
which are substantially the same, may be substituted for, or applied to
substantially the same end use as the products, processes or services with
which Executive works during the time of his/her employment with the Company or
about which Executive acquires Confidential Information; provided that nothing
herein will prevent Executive from owning in the aggregate not more than 2% of
the outstanding stock of any class of a corporation which is publicly traded,
so long as Executive has no participation in the management of such
corporation.

 

12

 

(B)           Executive
further agrees that Executive will not, prior to the expiration of one (1) year
following the termination of Executive’s employment for any reason, without the
consent of the Company in writing, directly or indirectly, or by action in
concert with others, induce or influence, or seek to induce or influence, any
person who is engaged by the Company as an employee, agent, independent
contractor or otherwise, to terminate his/her/its employment or engagement, nor
shall Executive, directly or indirectly, employ or engage, or solicit for
employment or engagement, or advise or recommend to any other person or entity
that such person or entity employ or engage or solicit for employment or
engagement, any person or entity employed or engaged by the Company.

 

4.             Intellectual
Property Rights.  (A) As
used in this Agreement, the term “Inventions” shall mean and include all
procedures, systems, machines, methods, processes, uses, apparatuses,
compositions of matter, designs or configurations, computer programs of any
kind, discovered, conceived, reduced to practice, developed, made, or produced,
or any improvements to them, and shall not be limited to the meaning of “Invention”
under the United States patent laws.  Executive agrees to disclose
promptly to the Company any and all Inventions, whether or not patentable and
whether or not reduced to practice, conceived, developed, or learned by
Executive during his/her employment with the Company or during a period of one
hundred twenty (120) days after the termination thereof, either alone or
jointly with others, which relate to or result from the actual or anticipated
business, work, research, investigations, products, or services of the Company,
or which result, to any extent, from use of the Company’s premises or
property.  Executive acknowledges and
agrees that the Company is the sole owner of any and all property rights in all
such Inventions, including, but not limited to, the right to use, sell, license
or otherwise transfer or exploit the Inventions, and the right to make such
changes in them and the uses thereof as the Company may from time to time
determine.  Executive agrees to disclose
in writing and to assign, and Executive hereby assigns, to the Company, without
further consideration, Executive’s entire right, title, and interest
(throughout the United States and in all foreign countries) free and clear of
all liens and encumbrances, in and to all such Inventions, which shall be the
sole property of the Company, whether or not patentable. The Company shall
reimburse Executive for reasonable out-of-pocket expenses, such as travel, food
and lodging incurred by Executive in providing such cooperation.  This Section 4 does not apply to any
Inventions:

 

(i)            for
which no equipment, supplies, facility, or Confidential Information of the
Company were used;

 

(ii)           which
were developed entirely on Executive’s own time; and

 

(iii)          which
do not relate at the time of conception or reduction to practice to the Company’s
current business or its actual or demonstrably anticipated research or
development, or which do not result from any work performed by Executive for
the Company.  Executive hereby certifies
that he/she has no continuing obligations with respect to the assignment of
inventions or rights to Inventions, nor does Executive claim any previous,
unpublished Inventions within the

 

13

 

scope of this Agreement
as his/her own, except for the Inventions, if any, which are listed on Exhibit A
to this Agreement.

 

(B)           Executive
hereby acknowledges and agrees that all writings and other works which may be
copyrighted (including computer programs) which are related to the present or
planned business of the Company and are prepared by Executive during his/her
employment with the Company shall be, to the extent permitted by law, deemed to
be works for hire, with the copyright automatically vesting in the
Company.  To the extent that such
writings and works are not works for hire, Executive hereby waives any and all “moral
rights” in such writings and works, and agrees to assign, and hereby does
assign, to the Company all of Executive’s right, title and interest, including
copyright, in such writings and works.

 

(C)           Executive
further agrees to reasonably cooperate with the Company, both during and after
employment in obtaining and enforcing patents, copyrights, trademarks, and
other protections of the Company’s rights in and to all such Inventions,
writings and other works.  Without
limiting the generality of the foregoing, Executive shall, at any time during
or after employment with the Company, at the Company’s request, execute
specific assignments in favor of the Company or its nominee of Executive’s
interest in any of the Inventions, writings or other works covered by this
Agreement, as well as execute all papers, render all assistance, and perform
all lawful acts which the Company considers necessary or advisable for the
preparation, filing, prosecution, issuance, procurement, maintenance or enforcement
of patents, trademarks, copyrights and other protections, and any applications
for any of the foregoing, of the United States or any foreign country for any
such Inventions, writings or other works, and for the transfer of any interest
Executive may have therein.  Executive
shall execute any and all papers and documents required to vest title in the
Company or its nominee in any such Inventions, writings, other works, patents,
trademarks, copyrights, applications and interests.

 

(D)          In
the event that Executive is not employed by the Company at the time Executive
is requested to perform any act or execute any document under paragraph 4(C),
the Company shall pay to Executive fifty dollars ($50.00) for the execution of
each such document and one hundred fifty dollars ($150.00) per day for each day
or portion thereof spent at the request of the Company in the performance of
acts pursuant to paragraph 4(C), plus reimbursement for any out-of-pocket
expenses incurred by Executive at the Company’s request in such performance.

 

(E)           Executive
represents, warrants and agrees that Executive has disclosed to the Company all
continuing obligations which Executive has with respect to the assignment of
Inventions to any previous employers, and Executive claims no previous
unpatented Inventions as his/her own, except for those which have been reduced
to practice and which are shown on Exhibit A hereto.  Executive acknowledges and agrees that the
Company does not seek any confidential information which Executive may have acquired
from a previous employer, and Executive will not disclose any such information
to the Company.

 

14

 

5.             Remedies.  Executive acknowledges and agrees that the
business of the Company is highly competitive, and that violation of any of the
covenants provided for in this Agreement would cause immediate, immeasurable
and irreparable harm, loss and damage to the Company not adequately compensable
by a monetary award.  Accordingly, the
Executive agrees, without limiting any of the other remedies available to the
Company, that any violation of said covenants, or any of them, may be enjoined
or restrained by any court of competent jurisdiction, and that any temporary
restraining order or emergency, preliminary or final injunctions may be issued
by any court of competent jurisdiction, without notice and without bond.

 

15

 

6.             Miscellaneous.

 

(A)          Executive
will permit the Company and its agents to use and distribute any photographs
which are taken of Executive during his/her employment with the Company as
often as desired by the Company for any lawful purpose.  Executive hereby waives all rights of prior
inspection or approval and releases the Company and its agents from any and all
claims or demands which Executive may have on account of the lawful use or
publication of such photographs.

 

(B)           Executive
acknowledges and agrees that this Agreement is not a contract for or guarantee
of continued employment or rate of compensation for any period.  Executive’s employment with the Company is at
will.  Either party is free to terminate
Executive’s employment with the Company at any time, for any reason.

 

(C)           Executive
acknowledges and agrees that Executive may be asked to submit to drug testing
as a condition of employment or continued employment with the Company and
hereby consents to such testing as determined by the Company to be appropriate.

 

(D)          The
covenants and agreements of Executive in paragraphs 2, 3, 4, and 5 shall survive
the termination of Executive’s employment with the Company.

 

(E)           Executive
acknowledges and agrees that the Company has a right to make and enforce any
other rules and regulations not contrary to this Agreement which will also
govern Executive’s employment with the Company.

 

(F)           Any
notices or communications hereunder will be deemed sufficient if made in
writing and hand-delivered or mailed, postage prepaid, registered or certified
mail, return receipt requested, to the following addresses:

 

If to the Company:

 

Dade
Behring Holdings, Inc

1717
Deerfield Road-P.O. Box 778

Deerfield,
IL 60015-0778

Attn:
General Counsel

 

If to Executive:

 

«First_Name» «Last_Name»

«Address_Line1»

«Address_Line2»

«City», «US_State__Country»  «Zip_Code»

 

16

 

or to such other address
as either party may designate for such party by written notice to the other
given from time to time in the manner herein provided.

 

(G)           No
delay on the part of any party in the exercise of any right or remedy shall
operate as a waiver thereof, and no single or partial exercise by any party of
any right or remedy shall preclude an additional or further exercise thereof or
the exercise of any other right or remedy.

 

(H)          The
validity, construction, and the enforceability of this Agreement shall be
governed in all respects by the laws of the State of Illinois, unless the forum
jurisdiction determines that it has a greater interest in the dispute.

 

(I)            This
Agreement may be executed in any one or more counterparts, each of which shall
constitute an original, no other counterpart needing to be produced, and all of
which, when taken together, shall constitute but one and the same instrument.

 

(J)            If
any provision contained in this Agreement is found to be unenforceable, in
whole or in part, it is the intention of the parties that such provisions shall
be amended to the extent required to render it valid and enforceable, and the
parties shall be deemed to have substituted for each such portion amended,
words which give the maximum scope permitted under applicable law.

 

(K)          To
the extent that a provision of this Agreement, including paragraph 6(J) above,
is found to unenforceable, in whole or in part, and unable to be modified to
render it valid and enforceable, such provision shall be severable, and the
remainder of this Agreement shall nevertheless be enforceable and binding on
the parties.

 

(L)           In
the event of litigation between Executive and the Company, Executive undertakes
to and shall, upon request of the Company, stipulate in such litigation to any
and all of the acknowledgments which Executive has made in this Agreement.

 

(M)         The
headings of paragraphs herein are merely for convenience of reference and shall
not affect the interpretation of any of the provisions hereof.  Whenever the context so requires, the plural
shall include the singular and vice versa.

 

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

 

	
   

  	
  DADE BEHRING HOLDINGS, INC.

  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  

  
	
   

  	
  By: Jim Reid-Anderson

  
	
   

  	
  Its: President and CEO

  

 

17

 

	
   

  	
  Participant’s Signature:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  «First_Name» «Last_Name»

  

 

18

 

FORM OF
GERMAN EXECUTIVE SEVERANCE AGREEMENT

 

Date:

 

Subject:                  Executive
Severance Plan

 

From:                      Kathy
Kennedy

 

To:

 

As
part of the Dade Behring leadership team, you play an important role in Dade
Behring.  To recognize your dedication
and commitment towards our vision and future business success, I am pleased to
inform you of your participation in the improved Executive Severance Plan which
will provide you with additional financial security while finding new
employment or pursuing other goals in the event of an involuntary termination.

 

EXECUTIVE
SEVERANCE PLAN

 

1.             (A)          If
you are “involuntarily terminated” (as defined in Section 2 below) by the
Company other than as set forth in Section 1(B), you will be entitled to
receive (1) your base salary payable in regular payroll installments from
the date where such termination notice is given for the longer of 12 months or
the notice you are entitled to from your local employer (less applicable
withholdings), (2) a bonus equal to your target bonus in the year where
you receive notice of your termination, payable over 12 months in regular
payroll installments from the date of such termination notice (less applicable
withholding) and (3) a bonus equal to the bonus you would have received
had you remained employed for the entire bonus period (the amount to be
determined by the Compensation Committee or Board in good faith), pro rated
based on the number of days that have elapsed during the year through the date
on which your employment terminates (and payable in accordance with normal Company
policy) (less applicable withholding).

 

(B)           If
you receive involuntary notice of termination on or within two years after or
in anticipation of a Change in Control (as defined in the 2004 Incentive
Compensation Plan), you will not be entitled to the payments under Section 1
(A) above but you will be entitled to receive in one lump sum payment
within thirty (30) days after the involuntary notice of termination becomes
effective (i.e., after the lapse of the notice you are entitled to from your
local employer) two times your annual base salary and two times the higher of
your target bonus in the year of your termination or your target bonus in the
preceding year.  In addition with respect
to such involuntary termination, you will be entitled to receive a bonus equal
to the greater of (1) a bonus equal to the bonus you would have received
had you remained employed for the entire bonus period or (2) your target
bonus

 

19

 

for the entire bonus period, in each case prorated
based on the number of days that have elapsed during the year through the day
the  termination notice becomes
effective.  You will also be entitled to
receive no later than thirty (30) days after the involuntary termination notice
becomes effective (i.e., your employment ends) the bonus, if any, for the
preceding bonus period which was determined for you, to the extent such bonus
has not yet been paid, and if the bonus for such preceding period has not yet
been determined prior to a Change in Control, the bonus for such preceding
period shall not be less than the greater of (i) your target bonus for
such period or (ii) the bonus calculated under such bonus plan and the
bonus shall be paid in accordance with historic normal Company policy as to the
timing of bonuses.

 

(C)           In addition, if you are involuntarily
terminated (as defined in Section  2 below), you shall be provided with
executive outplacement services.  For one
year following an involuntary termination described in Section  1(A) or
two years following an involuntary termination described in Section 1(B),
you shall be provided (and your family to the extent your family was covered
under the local health plan or statutory regime at the date of your termination
of employment) with health benefits at the same level as active employees of
your local employer (most likely contributions to your existing private health
insurance plan) provided you pay the Company or your local employer, as the
case may be, on a monthly basis the portion of the periodic cost of such
continued coverage equal to the dollar amount you would have contributed if you
remained an active employee.

 

(D)          Payments and benefits under this Section will
only be paid if you have executed and delivered to the Company and your local
employer a general release in form and substance satisfactory to the
Company and your local employer which includes (a) a fully enforceable and
final agreement of yours with the termination of your employment with any and
all Dade Behring entities, provided that termination observes the notice you
are entitled to from your local employer, (b) a release of age
discrimination claims under the US Age Discrimination in Employment Act of
1967, as amended (including the US Older Workers Benefit Protection Act), (c) a
release of any local (i.e., non-US) statutory or other rules applicable to
your employment, and only so long as you have not breached the provisions of
Sections 4 and 5 below.

 

(E)           For
purposes of this letter agreement, “Company” shall mean Dade Behring Holdings, Inc.
and its subsidiaries.

 

2.             “Involuntary termination” means a termination
by the Company OTHER THAN if:

 

(A)          you choose to leave the Company, other than
in connection with (i) a  diminution
in your position (including status, titles or reporting requirements),
authority, duties or responsibilities (including the assignment to you of
any  duties inconsistent with your
position, authority, duties or responsibilities) or terms and conditions of
employment, excluding for this purpose an isolated, insubstantial and
inadvertent action not taken in bad faith and which is remedied by the

 

20

 

Company promptly after
receipt of notice thereof given by you, (ii) a reduction of your base
salary or bonus opportunity (as the same may be increased from time to time),
or (iii) the relocation of your primary business location to a place more
than one hundred  (100) miles from its
present location, without your consent;

 

(B)           you are terminated for cause (as defined in
the Dade Behring 2002 Management Stock Option Plan); or

 

(C)           you elect to accept a comparable position
either within the Company or with a successor employer, for example, a
purchaser of your business unit, if sold.

 

3.             If you become entitled to any payments or
benefits whether pursuant to the terms of or by reason of this letter agreement
or any other plan, arrangement, agreement, policy or program (including without
limitation any stock option, restricted stock, stock appreciation right
or similar right, or the lapse or termination of any restriction on the vesting
or exercisability of any of the foregoing) with the Company, any successor to
the Company or to all or a part of the business or assets of the Company
(whether direct or indirect, by purchase, merger, consolidation, spin off, or
otherwise and regardless of whether such payment is made by or on behalf of the
Company or such successor) or any person whose actions result in a change of
control or any person affiliated with the Company or such persons (in the
aggregate, “Payments” or singularly, “Payment”), which Payments are reasonably
determined by you to be subject to the tax imposed by Section 4999 or any
successor provision of the US Internal Revenue Code of 1986, as amended or any
similar state or local tax, or any interest or penalties are incurred by you
with respect to such excise tax (such excise tax, together with any such
interest and penalties, are hereinafter collectively referred to as the “Excise
Tax”), the Company shall pay you an additional amount (“Gross-Up Payment”) such
that the net amount retained by you, after deduction or payment of (i) any
Excise Tax on Payments, (ii) any federal, state and local income tax and
Excise Tax upon the payment provided for by this Section, and (iii) any
additional interest and penalties imposed because the Excise Tax is not paid
when due, shall be equal to the full amount of the Payments.  The Gross-Up Payment shall be paid to you
within thirty (30) days of the Company’s receipt of written notice from you
that the Excise Tax has been paid, is or was payable or will be payable at any
time in the future.

 

Notwithstanding the
preceding paragraph of this Section 3, the Company will not have any
obligation to make the Gross-Up Payment unless the value of the Payments
exceeds 110% of the maximum amount of Payments that could be paid to you
without any imposition of Excise Taxes (the “110% Amount”).  If the value of the Payments does not exceed
the 110% Amount, the Payments will be reduced to the maximum amount of Payments
that could be paid to you without any imposition of Excise Taxes.

 

For purposes of determining
the amount of payments pursuant to this Section 3, you shall be deemed to pay
federal income taxes at the highest marginal rate of federal income taxation in
the calendar year in which the payment is to be made and state and local income
taxes at the highest marginal rates of taxation in the state and locality of

 

21

 

your residence or your place
of business, whichever is higher, on the date the payment is to be made.

 

4.             You acknowledge that in the course of your
employment with the Company you have become familiar with the Company’s
trade secrets and with other confidential information concerning the Company
and that your services have been and shall be of special, unique and
extraordinary value to the Company. 
Therefore, you agree that, during your employment with the Company and
for one year thereafter (the “NONCOMPETE PERIOD”), you shall not directly or
indirectly own any interest in, manage, control, participate in, consult with,
render services for, or in any manner engage in any business competing with the
businesses of the Company, as such businesses exist or are in process during
your employment with the Company on the date of the termination of your
employment, within any geographical area in which the Company engages or plans
to engage in such businesses during the Noncompete Period.  Nothing herein shall prohibit you from being
a passive owner of not more than 2% of the outstanding stock of any class of a
corporation which is publicly traded, so long as you have no active
participation in the business of such corporation.

 

5.             During
the Noncompete Period, you shall not directly or indirectly through another
person or entity (i) induce or attempt to induce any employee of the
Company to leave the employ of the Company, or in any way interfere with the
relationship between the Company and any employee thereof, or (ii) induce
or attempt to induce any customer, supplier, licensee, licensor, franchisee or
other business relation of the Company to cease doing business with the
Company, or in any way interfere with the relationship between any such
customer, supplier, licensee or business relation and the Company (including,
without limitation, making any negative or disparaging statements or
communications regarding the Company).

 

6.             If,
at the time of enforcement of Section  4 or 5 of this letter, a court
holds that the restrictions stated herein are unreasonable under circumstances
then existing, you and the Company agree that the maximum period, scope or
geographical area reasonable under such circumstances shall be substituted for
the stated period, scope or area. 
Because your services are unique and because you have access to
confidential information and work product, you and the Company agree that money
damages would not be an adequate remedy for any breach of this letter
agreement.  Therefore, in the event a
breach or threatened breach of this letter agreement, the Company or its
successors or assigns, in addition to other rights and remedies existing in
their favor, shall be entitled to specific performance and/or injunctive or
other equitable relief from a court of competent jurisdiction in order to
enforce, or prevent any violations of, the provisions hereof (without posting a
bond or other security).  You acknowledge
that the restrictions contained in Section 4 are reasonable and that you
have reviewed the provisions of this letter agreement with your legal
counsel.  It is agreed that (i) the payments under  Section 1 above shall be reduced by the
non-compete compensation you are entitled to under your 2002 Agreement on
Confidentiality and Prohibition of Post-termination Competition with Dade Behring
Holding GmbH, and (ii) the remaining

 

22

 

portion of the payments under Section 1 above shall
compensate you foremost for the post-contractual period of your non-compete
obligation above.

 

7.             Whenever
possible, each provision of this letter agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision
of this letter agreement is held to be invalid, illegal or unenforceable in any
respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability shall not affect any other provision
or any action in any other jurisdiction, but this letter agreement shall be
reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein.

 

8.             The
Executive Severance Plan is intended to be an unfunded plan maintained by the
Company for a select group of management or highly compensated employees as described
in the regulations pursuant to the US Employee Retirement Income Security Act
of 1974, as amended and will be interpreted accordingly.  Administrative information regarding the
Executive Severance Plan and the claims procedure under the Executive Severance
Plan is set forth in Appendix A.

 

9.             If, after a Change in Control (as defined in
the 2004 Incentive Compensation Plan), you or your estate or your heirs prevail
in any action to enforce your rights under this letter agreement, you shall be
entitled to receive your attorney’s fees, costs and expenses incurred in
enforcing your rights under this letter agreement, as well as interest at the
Prime Rate as published in the Wall Street Journal
from time to time on the amount of the judgment from the date of demand for
payment hereunder through the date of receipt of the amount of the judgment.

 

10.           This letter agreement, those documents
expressly referred to herein and other documents of even date herewith embody
the complete agreement and understanding among you and the Company and
supersede and preempt any prior understandings, agreements or representations
by or among the parties, written or oral, which may have related to the subject
matter hereof in any way, except your Agreement executed            ,
200     attached hereto. 
You hereby agree that in consideration for and subject to the receipt of
payments to be received under this letter agreement, you waive any and all
rights to severance payments or benefits under any other plans, programs,
contracts or arrangements of the Company except as provided in any incentive or
equity grant.

 

11.           You agree to keep the
terms, conditions and amounts payable under this executive severance plan
strictly confidential.  Failure to
respect this confidentiality will jeopardize participation in the plan.

 

12.           If you are rehired during the period you are receiving severance
payments, your severance payments will stop on your rehire date and your future
participation in the executive severance plan will be determined by the Board
based on the facts and circumstances of your rehire.

 

23

 

13.           If
you die while receiving severance pay, any remaining severance will be paid to
your estate or heirs.

 

14.           If your severance pay has been overpaid or wrongfully paid, you must
return the overpayment to the Company. 
If you fail to return the overpayment upon notification, you may not
receive future severance pay.  In
addition, the Company may take appropriate steps to collect the overpayment.

 

15.           If your address changes while you are receiving severance pay and you
do not notify the Company, your severance pay may be delayed.

 

16.           This letter is subject to the laws of
the United States.

 

24

 

Working together, we can leverage our strengths,
manage through our challenges and anticipate a very positive future.  I very much look forward to working with you
as we progress together.

 

	
  Congratulations!

  
	
   

  
	
  /s/
  Kathy Kennedy

  	
   

  
	
   

  
	
  Kathy Kennedy

  Senior Vice President Human Resources

  
	
   

  
	
  Agreed and Acknowledged

  
	
   

  
	
   

  
	
   

  	
   

  
	
  Participant Name

  
			

 

25

 

EXECUTIVE SEVERANCE PLAN

                                  ,
2005 

 

APPENDIX A

 

Plan Sponsor and Administrator 

 

Dade Behring, Inc.
sponsors the Executive Severance Plan.

 

The
plan administrator of the Executive Severance Plan is the Compensation
Committee or such other committee appointed by Dade Behring’s Board of
Directors.

 

The
Senior Vice President, Human Resources is your primary source of information
about the Executive Severance Plan. If you have questions the Senior Vice
President, Human Resources cannot answer satisfactorily, you may contact the
plan administrator at:

 

Compensation Committee

c/o Dade Behring Inc.

1717 Deerfield Road

Deerfield, IL 60015

 

Plan
Identification

 

The
plan’s official name is the Dade Behring Executive Severance Plan and the
official plan number 503.

 

Claims
Procedure

 

Should
any claim you make be denied, you will receive a written or electronic
explanation of the decision within 90 days (180 days if the plan administrator
informs you of the need for an extension and the expected decision date) after
the original claim was filed.  The
explanation will:

 

a)             Describe the reason(s) your claim was denied;

b)            Reference
any plan provision on which the denial is based;

c)             Describe
any additional information needed to reach a decision on your claim;

d)            Explain
why the additional information is necessary;

e)             Describe
the plan’s claims procedure and the time limits applicable to such procedures;
and

f)             Describe
your right to bring a civil action under Sections 502(a) of ERISA.

 

If you
do not receive a written or electronic response to your claim within 90 days
(180 days if the plan administrator informs you of the need for an extension
and the expected decision date), your claim will be deemed denied.  If your claim is denied (or deemed denied),
you may then have your claim denial reviewed.

 

If you
want to have the decision reviewed, you must submit a written or electronic
request for a review to the plan administrator within 60 days after you receive
your explanation of denial (or when your claim is deemed denied).  You can have a lawyer represent you.  Written or electronic

 

26

 

comments,
documents, records and other information relating to the claim for benefits may
be submitted to the plan administrator along with the review request.  During the 60-day period following notice of
denial, you or your authorized representative may receive, upon request and
free of charge, reasonable access to, and copies of, all documents, records and
other information relied upon, submitted, considered, generated or showing
procedural compliance in connection with your claim.  The review will take into account all
comments, documents, records and other information submitted without regard to
whether such information was submitted or considered in the initial
determination.

 

Upon
receipt of a request for review of a claim denial, the plan administrator will
undertake a full and fair review and provide you with written or electronic
notice of its decision.  A final decision
will be made within 60 days (120 days if the plan administrator informs you of
the need for an extension and the expected decision date) after the plan’s
receipt of your request for review. 
However, if the period of time is extended due to your failure to submit
information necessary to decide the claim, the period for making the benefit
determination on review will be tolled from the date on which extension notice
is sent to you until the date on which you respond to the request for
additional information.

 

If
your claim is wholly or partially denied on review, the notice of the decision
on review will inform you of the specific reasons for the decision, the
specific provisions of the Plan upon which the decision is based, a statement
that you are entitled to receive, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relied
upon, submitted, considered, generated or showing procedural compliance in
connection with your claim for benefits and a statement of your right to bring
action under Section 502(a) of ERISA.

 

If you
do not receive a written or electronic response to your request for a review
within 60 days (120 days if the plan administrator informs you of the need for
an extension and the expected decision date), the claim will be deemed denied
on review.

 

You
may contact the plan administrator if you need assistance requesting a review.

 

Plan
Interpretation

 

You
should be aware that prior to a Change in Control the plan administrator has
full discretion and authority to make the final decision regarding all areas of
plan interpretation and administration, including eligibility for benefits,
level of benefits provided, interpretation of plan language or administrative
procedures.

 

For a
termination of employment prior to a Change in Control, and not in anticipation
of a Change in Control, the decision of the plan administrator is final and
binding on all individuals dealing with or claiming benefits under the plan,
and, if challenged in court, the plan intends for the plan administrators’
decisions to be upheld, unless found by a court of competent authority to be
arbitrary and capricious.

 

27

 

For a termination of employment in anticipation of or on or after a
Change in Control, the arbitrary and capricious standard of review shall not
apply and there shall be no presumption in favor of either party in
interpreting the provisions of the Executive Severance Plan.

 

28

 

	
  Vereinbarung zu Vertraulichkeit und

  Enthaltung nachvertraglichen

  Wettbewerbs

  	
   

  	
  Agreement on Confidentiality and

  Prohibition of post-termination

  competition

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  zwischen
  der

  	
   

  	
  between

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dade Behring Holding GmbH,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Deutschland,.(die
  “Gesellschaft”), hier vertreten
  durch den Gesellschafter

  	
   

  	
  Germany, (the “Company”), here represented  by
  its shareholder

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dade Behring, Inc.,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  dieser vertreten durch

  	
   

  	
  here acting through

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LouisePearson,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  einerseits,

  	
   

  	
  on one side,

  	
   

  	
   

  
	
  und

  	
   

  	
  and

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dominick Martin Quinn

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (der “Geschäftsführer”) andererseits.

  	
   

  	
  (the “Managing Director”) on the other side.

  

 

	
  Präambel

  	
   

  	
  Preamble

  
	
   

  	
   

  	
   

  
	
  Herr Quinn ist zum Geschäftsführer der Gesellschaft
  bestellt. Nunmehr vereinbaren die Parteien was folgt:

  	
   

  	
  Mr. Quinn has been appointed managing director of
  the Company. Now, the parties agree as follows:

  

 

 

	
  1

  	
   

  	
  Geheimhaltung

  	
   

  	
  1

  	
   

  	
  Secrecy

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  Der Geschäftsführer wird sowohl während seines
  Dienstverhältnisses als auch nach dessen Ende über aile ihm anvertrauten, zugänglich
  gemachten oder sonst bekannt-gewordenen vertraulichen Angelegen-heiten,
  insbesondere Betriebs- und Geschäftsgeheimnisse, der Gesell-schaft oder eines
  mit der Gesellschaft verbundenen Unternehmens Still-schweigen gegenüber
  Dritten bewahren und Betriebs- und Geschäftsgeheimnisse nicht selbst
  verwerten.

  	
   

  	
  1.1

  	
   

  	
  During the term of this Agreement and thereafter,
  the Managing Director shall not disclose to any third party any of the
  business or operational secrets of the Company or any affiliated company
  which have been entrusted or otherwise become known to him, and he shall not
  utilize such business or operational secrets himself.

  

 

29

 

	
  1.2 

  	
   

  	
  Geschäftliche Unterlagen aller Art, einschließlich
  persönlicher Aufzeich-nungen, die sich auf Angelegenheiten oder Tätigkeiten
  der Gesellschaft oder mit der Gesellschaft verbundener Unternehmen beziehen,
  dürfen nur zu geschäftlichen Zwecken verwendet werden, sind sorgfältig
  aufzubewahren und der Gesellschaft auf Aufforderung unverzüglich auszuhändigen.
  Zurück-behaltungsrechte sind ausge- schlossen.

  	
   

  	
  1.2

  	
   

  	
  Any business records, including personal notes
  concerning the Company’s or any affiliated company’s affairs and activities,
  shall be used only for business purposes, shall be kept carefully, and must
  be immediately handed over to the Company upon request. Any rights of retention
  are excluded.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  Erfindungen, urheberrechtliche Werke

  	
   

  	
  2

  	
   

  	
  Inventions, Copyright Protected Works

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.1 

  	
   

  	
  Für Erfindungen und technische Verbesserungsvorschläge
  sowie urheberrechtlich geschützteWerke des Geschäftsführers gelten die für Arbeitnehmer
  geltenden Vorschriften entsprechend. Zusätzliche Vergütungsansprüche des Geschäftsführers
  bestehen nicht; diese Leistungen sind mit dem Festgehalt abgegolten.

  	
   

  	
  2.1

  	
   

  	
  With respect to inventions, proposals for technical
  improvements and copyright protected works of the Managing Director, the
  regulations which are applicable to employees shall apply accordingly. The
  Managing Director shall not be entitled to any additional compensation; such achievements
  are compensated by the Base Salary.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  Freistellung

  	
   

  	
  3

  	
   

  	
  Garden Leave

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.1 

  	
   

  	
  Dem Geschäftsführer ist bekannt, dass die
  Gesellschaft berechtigt ist, ihn unbeschadet seiner Vergütungsansprüche
  jederzeit von seinem Amte als Geschäftsführer abzuberufen. Nach einer solchen
  Abberufung ist der Geschäftsführer zur Leistung der Dienste oder zu sonstigen
  Tätigkeiten für die Gesellschaft weder berechtigt noch mit Ausnahme von
  Abwicklungs- oder Übergabetätigkeiten verpflichtet. Die übrigen Pflichten der Parteien bleiben, unberührt.

  	
   

  	
  3.1

  	
   

  	
  The Company may at any time remove the Managing
  Director from his office as managing director, notwithstanding his
  entitlement to remuneration. Upon removal from his office, the Managing Director
  shall not be entitled nor, except for transitional activities, be required to
  render services or other activities for the Company. Any other duties of the
  parties will remain unaffected.

  

 

30

 

	
  4

  	
   

  	
  Nachvertragliche
  Beschränkungen

  	
   

  	
  4

  	
   

  	
  Post-termination Restrictions

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.1 

  	
   

  	
  Der Geschäftsführer wird für die Dauer von zwö1f
  Monaten nach dem Ende des Dienstverhältnisses weder in selbständiger,
  unselbständiger oder sonstiger Weise unmittelbar oder mittelbar für ein
  Wettbewerbs- unternehmen der Gesellschaft tätig werden, falls und soweit er
  im Rahmen einer solchen Tätigkeit seine nicht allgemein zugänglichen
  Kenntnisse über Auftraggeber, Lieferanten, Produkte, Geschäftspolitik oder Betriebs-
  und Geschäftsgeheimnisse der Gesellschaft oder mit der Gesellschaft
  verbundener Unternehmen verwenden kann. In gleicher Weise ist dem Geschäftsführer
  untersagt, während der Dauer des Verbotes unmittelbar oder mittelbar ein
  solches Unternehmen zu errichten, zu erwerben, zu betreiben oder sich an einem
  solchen Unternehmen zu beteiligen, mit der Maßgabe, dass der Besitz von bis
  zu 2% der öffentlich gehandelten Anteile an Unternehmen unberührt bleibt.

  	
   

  	
  4.1

  	
   

  	
  For a period of twelve months after the end of the
  service agreement, the Managing Director shall neither as a self-employed or
  employed person nor otherwise, directly or indirectly, act for a competing
  enterprise of the Company, if and to the extent that, in the course of such
  activities, he can use information of the Company or affiliated companies
  with respect to customers, suppliers, products, business strategies or
  business and operational secrets which is not available to the public. Under
  the same conditions, the Managing Director shall during the period of the
  restriction neither directly nor indirectly participate in, acquire, operate
  or establish such company, provided that nothing herein will prevent the
  Managing Director from owning in the aggregate not more than 2% of the
  outstanding stock of a publicly traded corporation.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Das Wettbewerbsverbot gilt auch zugunsten von mit
  der Gesellschaft verbundenen Unternehmen, deren Geschäftsgegenstand die
  Forschung und Entwicklung, die Produktion oder der Vertrieb von Geräten,
  Reagenzien und anderen Produkten oder Dienstleistungen im in-vitro Diagnostika
  Markt (“Verbundene Unternehmen im in-vitro Diagnostika Markt”) ist.

  	
   

  	
   

  	
   

  	
  The prohibition to compete applies also for the
  benefit of companies affiliated with the Company, provided their respective
  field of business is the research and development, production or distribution
  of instruments and related products and services for the in vitro diagnostics
  testing market (“Affiliated Companies in the in-vitro diagnostica market”).

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  In räumlicher Hinsicht gilt dieses Verbot für aile
  Regionen, in denen die Gesellschaft, ob selbst oder durch

  	
   

  	
   

  	
   

  	
  This restriction shall apply to all territories the
  Company, whether itself or through third parties, or Affiliated 

  

 

31

 

	
   

  	
   

  	
  Dritte, oder Verbundene Unternehmen im in-vitro
  Diagnostika Markt tätig sind, jedoch nur soweit der Geschäftsführer für diese
  Regionen in den letzten zwei Jahren vor dem Ende seines Dienstverhältnisses
  persönlich Verantwortung hatte.

  	
   

  	
   

  	
   

  	
  Companies in the in-vitro diagnostica market operate
  in, but only to the extent that the Managing Director has had personal
  responsibility for these regions in the last two years before his service
  relation has terminated.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.2 

  	
   

  	
  Der Geschäftsführer wird für die Dauer von zwölf
  Monaten nach dem Ende des Dienstverhältnisses weder für sich noch in selbständiger,
  unselbständiger oder sonstiger Weise für Dritte unmittelbar oder mittelbar
  Aufträge von Auftraggebern oder Kunden nachsuchen, annehmen oder bearbeiten,
  die in den letzten zwei Jahren vor dem Ende des Dienstverhältnisses zum
  Auftraggeber- oder Kundenkreis der Gesellschaft gehörten. In gleicher Weise
  ist es dem Geschäftsführer während der Dauer des Verbotes untersagt, auf den vorbezeichneten
  Abnehmer- oder Kundenkreis in der Absicht einzuwirken, den Umfang der Auftragsbeziehung
  zur Gesellschaft zu reduzieren oder zu begrenzen.

  	
   

  	
  4.2

  	
   

  	
  For a period of twelve months after the end of the
  service agreement, the Managing Director shall neither for himself nor as a
  self-employed or employed person or otherwise for third parties, directly or
  indirectly, solicit or accept orders or work on assignments from principals
  who, in the last two years prior to the end of the service agreement, have
  been customers of the Company. Similarly, during the period of the
  restriction, the Managing Director shall not act upon the aforementioned
  customers with the intention to reduce or limit the Company’s business.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Dieses Verbot gilt auch zugunsten von Verbundenen
  Unternehmen im in-vitro Diagnostika Markt.

  	
   

  	
   

  	
   

  	
  This prohibition applies also for the benefit of
  Affiliated Companies in the in-vitro diagnostica market.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.3 

  	
   

  	
  Der Geschäftsführer wird für die Dauer von zwölf
  Monaten nach dem Ende des Dienstverhältnisses weder für sich noch in selbständiger,
  unselbständiger oder sonstiger Weise für Dritte unmittelbar oder mittelbar Arbeitnehmer
  oder selbständig Tätige der Gesellschaft oder mit der Gesellschaft
  verbundener Unternehmen veranlassen oder beeinflussen, die Tätigkeit für die Gesellschaft
  oder das mit der Gesellschaft verbundene Unternehmen zu beenden.

  	
   

  	
  4.3

  	
   

  	
  For a period of twelve months after the end of the
  service agreement, the Managing Director shall, neither for himself nor as a
  self-employed or employed person or otherwise for third parties, directly or
  indirectly, induce or influence any person who is employed or engaged by the
  Company or a company affiliated with the Company as an employee or
  independent contractor to terminate his or her employment or engagement with
  the Company or a company affiliated with the Company.

  

 

32

 

	
  4.4 

  	
   

  	
  Bei einer Kündigung aus wichtigem Grund kann der Kündigungsborechtigte
  vor Ablauf eines Monats nach der Kündigung durch schriftliche Erklärung gegenüber
  dem anderen Teil die nachvertragliche Wettbewerbsbeschränkung aufheben. Bei
  einer ordentlichen Kündigung durch die Gesellschaft hat der Geschäftsführer kein
  Lösungsrecht.

  	
   

  	
  4.4

  	
   

  	
  In the event of termination for cause, the party
  which is entitled to terminate may determine the post-contractual restrictions
  by so informing the other party in writing within one month after the
  termination notice. If the Company terminates the service without cause, the
  Managing Director shall not be entitled to determine the restrictions.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.5 

  	
   

  	
  Für die Dauer der vereinbarten nachvertraglichen
  Wettbewerbs-beschränkungen erhält der Geschäftsführer eine Entschädigung, die
  für jedes Jahr des Verbots die Hälfte seiner zuletzt bezogenen vertragsmäßigen
  Leistungen erreicht.

  	
   

  	
  4.5

  	
   

  	
  For the term of the agreed post-contractual
  restrictions, the Managing Director shall receive compensation which amounts
  for every year of the prohibition to half of his last contractual remuneration.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.6 

  	
   

  	
  Die Gesellschaft kann jederzeit mit einer der
  ordentlichen Kündigungsfrist des Dienstverhältnisses entspre-chenden Ankündigungsfrist,
  höchstens jedoch der Einjahresfrist des § 75a HGB, auf die vereinbarten nachvertraglichen
  Wettbewerbsbe-schränkungen verzichten.

  	
   

  	
  4.6

  	
   

  	
  The Company may at any time waive the agreed
  post-contractual restrictions by giving notice equal to the length of notice
  required for the termination of the service relation, but at the most the one year pursuant to § 75a German
  Commercial Code.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.7 

  	
   

  	
  Für jeden Fall der Zuwiderhandlung gegen die
  vereinbarten nachvertraglichen Wettbewerbs- beschränkungen zahlt der Geschäftsführer
  der Gesellschaft eine Vertragsstrafe. Verletzt dieselbe Handlung mehrere
  Verbote, wird nur eine Vertragsstrafe fällig. Die Vertragsstrafe beträgt das
  zweifache des Betrages, den der Geschäftsführer infolge der verbotswidrigen Tätigkeit
  erhält, mindestens jedoch ein Sechstel seiner letzten jährlichen Vergütung
  als Geschäftsführer der Gesellschaft. Wird dem Geschäftsführer die Vertragsstrafe
  von einer dritten Person erstattet, so erhöht sich die Vertragsstrafe um den
  ihm erstatteten Betrag. Die Vertragsstrafe wird im

  	
   

  	
  4.7

  	
   

  	
  In the event of any breach of the post-contractual
  restrictions agreed upon above, the Managing Director shall pay the Company a
  contractual penalty. In the event that one and the same activity constitutes
  a breach of several restrictions, the contractual penalty shall only be
  payable once. The contractual penalty shall be twice the amount the Managing
  Director earns as a result of the forbidden activity and shall be no less
  than one sixth of his last annual remuneration as managing director of the
  Company. In the event that the contractual penalty is reimbursed to the
  Managing Director by a third party, the contractual penalty shall increase by
  the amount reimbursed. In the event of 

  

 

33

 

	
   

  	
   

  	
  Faile eines Dauerverstoßes für jeden angefangenen
  Kalendermonat neu verwirkt. § 340 Abs. 1 BGB findet keine Anwendung, so
  dass das Vertragsstrafenverlangen den Erfüliungsanspruch nicht ausschließt.

  	
   

  	
   

  	
   

  	
  a continuing breach, the contractual penalty shall
  be re-imposed for any calendar month commenced. Section 340
  sub-section 1 German Civil Code does not apply, so that the request for payment
  of the contractual penalty does not exclude the claim for performance.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.8 

  	
   

  	
  Im übrigen gelten die Vorschriften des Handelsgesetzbuches,
  insbesondere die §§ 74 ff HGB.

  	
   

  	
  4.8

  	
   

  	
  In all other respects, the regulations of the German
  Commercial Code will apply, in particular §§ 74 et seq.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  Sonstiges

  	
   

  	
  5

  	
   

  	
  Miscellaneous

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.1 

  	
   

  	
  Frühere Vereinbarungen über nachvertragliche Beschränkungen
  werden hiermit mit sofortiger Wirkung aufgehoben.

  	
   

  	
  5.1

  	
   

  	
  Any prior agreements on post-termination
  restrictions are terminated herewith effective immediately.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.2 

  	
   

  	
  Die Regelungen dieser Vereinbarung verdrängen
  arbeits- oder dienstvertraglich in Bezug genommene tarifliche Regelungen zu nachvertraglichen
  Wettbewerbs-verboten.

  	
   

  	
  5.2

  	
   

  	
  The stipulations of this agreement shall have
  precedence over any collectively agreed rules on post-termination
  restrictions incorporated into the employment relation.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6

  	
   

  	
  Schlussbestimmungen

  	
   

  	
  6

  	
   

  	
  Final Provision

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.1 

  	
   

  	
  Sollte eine Bestimmung dieses Vertrages ganz oder teilweise ungültig sein
  oder werden, so wird hierdurch die Gültigkeit der übrigen Bestimmungen nicht
  berührt. Anstelle der ungültigen Bestimmung gilt diejenige gültige Bestimmung
  als vereinbart, die dem Sinn und Zweck der ungültigen Bestimmung am nächsten
  kommt. Dies gilt auch dann, wenn die Ungültigkeit der Bestimmung auf einem Maß
  der Leistung oder der Zeit beruht; es gilt dann das rechtlich zulässige Maß.

  	
   

  	
  6.1

  	
   

  	
  Should any provision of this Agreement, in total or
  in part, be or become invalid, the validity of the other provisions shall not
  be affected thereby. The invalid provision shall be replaced by such valid
  provision which corresponds as closely as possible to the intention and
  purpose of the invalid provision. The same shall apply, if the invalidity is
  based on a measurement of performance or time, in which case the extent
  permitted by law shall be applicable.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.2 

  	
   

  	
  Die Vereinbarung untersteht deutschem Recht.

  	
   

  	
  6.2

  	
   

  	
  The agreement is governed by German law.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.3 

  	
   

  	
  Die deutsche Fassung der

  	
   

  	
  6.3

  	
   

  	
  The German version of this agreement

  

 

34

 

	
  Vereinbarung ist marßgeblich.

  	
  is authoritative.

  
	
   

  	
   

  
	
  Für die Gesellschaft/

  	
  Geschäftsführer/Managing
  Director:

  
	
   

  	
   

  
	
  On behalf of the
  Company:

  	
   

  
	
   

  	
   

  
	
  Ort/Place:

  	
  Deerfield Illinois USA

  	
   

  	
  Ort/Place:

  	
  /s/ Liederbach, Germany

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Datum/Date:

  	
  16 December 2002

  	
   

  	
  Datum/Date:

  	
  7-Jan 2003

  	
   

  
	
   

  	
   

  
	
  Unterschrift/

  	
  Unterschrift/

  
	
  Signature:

  	
  /s/ Louise Pearson

  	
   

  	
  Signature:

  	
  /s/ Donal Quinn

  	
   

  

 

 

	
  Ich, Geschäftsführer, bestätige, ein Original

  dieser Vereinbarung erhalten zu haben.

  	
  I, managing director, confirm to have received

  an original copy of this Agreement.

  
	
   

  	
   

  
	
  Ort/Place:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Datum/Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Unterschrift/

  	
   

  	
   

  	
   

  
	
  Signature:Exhibit 4.24

 

REGISTRATION RIGHTS
AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT, dated as of July 22,
2005, is entered into by and between Health Care Property Investors, Inc.,
a Maryland corporation (the “Company”), and
the parties identified on the signature page hereof as a “Unitholder”
(each, a “Unitholder” and collectively, the “Unitholders”).

 

RECITALS

 

WHEREAS,
the Company, the Unitholders, HCP DR California, LLC, a Delaware limited
liability company (the “Operating LLC”)
and certain other parties have entered into that certain Contribution and
Purchase Agreement and Joint Escrow Instructions dated as of July 22, 2005
(the “Contribution Agreement”) providing,
among other things, for the contribution of certain properties by the
Unitholders to the Operating LLC and the contribution of cash by the Company to
the Operating LLC; and

 

WHEREAS,
it is a condition to the closing of the transactions contemplated by the
Contribution Agreement with respect to the Properties (as defined in the
Contribution Agreement) that the parties hereto enter into this Agreement;

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I.

DEFINITIONS

 

Section 1.1            Definitions. The
following capitalized terms, as used in this Agreement, have the following
meanings:

 

“Agreement” means this Registration Rights
Agreement, as it may be amended, supplemented or restated from time to time.

 

“Business Day” means any day except a Saturday,
Sunday or other day on which commercial banks in New York, New York or Los
Angeles, California are authorized by law to close.

 

“Closing Price” means (i) the closing price
of a share of Common Stock on the principal exchange on which shares of Common
Stock are then trading, if any, or (ii) if the Common Stock is not traded
on an exchange but is quoted on the NASDAQ or a successor quotation system, (1) the
last sales price (if the Common Stock is then listed as a National Market Issue
under the NASD National Market System) or (2) the mean between the closing
representative bid and asked prices (in all other cases) for the Common Stock
as reported by NASDAQ or such successor quotation system or (iii) if the
Common Stock is not publicly traded on an exchange and not quoted on NASDAQ or
a successor quotation system, the mean between the closing bid and asked prices
for the Common Stock.

 

 

“Commission” means the Securities and Exchange Commission.

 

“Common Stock” means the common stock, par value
$1.00 per share, of the Company.

 

“Company” has the meaning set forth in the
preamble to this Agreement.

 

“Contribution Agreement” has the meaning set
forth in the recitals to this Agreement.

 

“Demand Registration” has the meaning set forth
in Section 3.1(a) hereof.

 

“Demand Registration Statement” has the meaning
set forth in Section 3.1(a) hereof.

 

“Exchange Act” means the Securities Exchange Act
of 1934, as amended.

 

 “Full Conversion Date”
has the meaning set forth in Section 2.1 hereof.

 

“Holder” means a Unitholder who is the record or
beneficial owner of any Registrable Security or any assignee or transferee of
such Registrable Security (including assignments or transfers of Registrable
Securities to such assignees or transferees as a result of the foreclosure on
any loans secured by such Registrable Securities) unless such Registrable
Security is acquired in a sale pursuant to a registration statement under the
Securities Act or pursuant to a transaction exempt from registration under the
Securities Act, in each such case where the security sold in such transaction
may be resold without subsequent registration under the Securities Act.

 

“Inspectors” has the meaning set forth in Section 3.2(h).

 

“Issuance Registration Statement” has the meaning
set forth in Section 2.1.

 

“LLC Agreement” means the Amended and Restated
Limited Liability Company Agreement of the Operating LLC dated as of the date
of this Agreement, as the same may be further amended, modified or restated
from time to time.

 

“LLC Units” has the meaning set forth in the LLC
Agreement.

 

“Operating LLC” has the meaning set forth in the
recitals to this Agreement.

 

“Person” means an individual or a corporation,
partnership, limited liability company, association, trust, or any other entity
or organization, including a government or political subdivision or an agency
or instrumentality thereof.

 

“Piggyback Registration Statement” means any
registration statement of the Company in which Registrable Securities are
included pursuant to Section 3.1(b) hereof.

 

“Records” has the meaning set forth in Section 3.2(h).

 

2

 

“Redeemable LLC Units” means LLC Units which may
be redeemed for Common Stock pursuant to the LLC Agreement.

 

“Registration Expenses” has the meaning set forth
in Section 3.4.

 

“Registrable Securities” means shares of Common
Stock of the Company issued upon exchange of Redeemable LLC Units pursuant to
the terms of the LLC Agreement at any time owned, either of record or
beneficially, by any Holder unless and until (i) a registration statement
covering such shares has been declared effective by the Commission and (A) the
shares have been issued by the Company to a Holder upon exchange of Redeemable
LLC Units pursuant to an effective registration statement or (B) have been
sold or transferred by a Holder to another Person pursuant to an effective
registration statement, (ii) such shares are sold pursuant to the
provisions of Rule 144 under the Securities Act (or any similar provisions
then in force) (“Rule 144”), (iii) such
shares are held by a Holder who is not an affiliate of the Company within the
meaning of Rule 144 (a “Rule 144 Affiliate”)
and may be eligible for immediate sale pursuant to Rule 144(k) under the
Securities Act, (iv) such shares are held by a Holder who is a Rule 144
Affiliate and all such shares may be sold pursuant to Rule 144 within a
period of three months in accordance with the volume limitations set forth in Rule 144(e)(1),
or (iv) such shares have been otherwise transferred in a transaction that
would constitute a sale under the Securities Act and such shares may be resold
without subsequent registration under the Securities Act.

 

 “Resale Prospectus”
has the meaning set forth in Section 3.5.

 

“Resale Registration Statement” has the meaning
set forth in Section 3.5.

 

“S-3 Expiration Date” means the date on
which Form S-3 (or a similar successor form of registration
statement) is not available to the Company for the registration of Registrable
Securities pursuant to the Securities Act.

 

“Secondary Offering Security Holders” has the
meaning set forth in Section 3.1(b).

 

“Securities Act” means the Securities Act of
1933, as amended.

 

“Selling Holder” means a Holder who is selling
Registrable Securities pursuant to a Demand Registration Statement or a
Piggyback Registration Statement.

 

“Supplemental Rights Period” has the meaning set
forth in Section 3.1.

 

“Unitholder” has the meaning set forth in the
preamble to this Agreement.

 

ARTICLE II.

REGISTRATION

 

Section 2.1            Registration Statement
Covering Issuance of Common Stock.  The
Company will use commercially reasonable efforts to file with the Commission a
registration statement on Form S-3 (the “Issuance
Registration Statement”) under Rule 415 under the Securities
Act that complies as to form in all material respects with applicable 

 

3

 

Commission rules registering the issuance to Holders of all shares
of Common Stock to be issued upon the redemption of the Redeemable LLC Units,
such filing to be made (i) during the period beginning fourteen (14) days
prior to the first date on which the Redeemable LLC Units issued pursuant to
the Contribution Agreement may be redeemed for shares of Common Stock pursuant
to the provisions of the LLC Agreement and ending fourteen (14) days after the
first date such Redeemable LLC Units may be redeemed or (ii) during such
other period as may be required by the Commission pursuant to its interpretation
of applicable federal securities laws and the rules and regulations
promulgated thereunder.  The Company
shall use its commercially reasonable efforts to cause the Issuance
Registration Statement filed with the Commission to be declared effective by
the Commission as soon as practicable following the filing thereof and within sixty
(60) days after the filing.  In the event
the Company is unable to cause the Issuance Registration Statement to be
declared effective by the Commission within sixty (60) days after the original
filing date, then the rights of the Holders set forth in Sections 3.1 and 3.2
hereof shall apply to Registrable Securities. 
Notwithstanding the availability of rights under Section 3.1
hereof, the Company shall continue to use its commercially reasonable efforts
to cause the Issuance Registration Statement to be declared effective by the
Commission and if it shall be declared effective by the Commission, the
obligations of the Company under Section 3.1 hereof shall cease.  Subject to the provisions of Section 3.3
hereof, the Company agrees to use its commercially reasonable efforts to keep
the Issuance Registration Statement continuously effective (a) until the
earlier of (i) the S-3 Expiration Date, or (ii) the first date
on which no Redeemable LLC Units (other than those held by the Company) or
Registrable Securities remain outstanding (the “Full
Conversion Date”).

 

ARTICLE III.

REGISTRATION RIGHTS

 

Section 3.1            Registration Rights.  The following
provisions shall apply with respect to Registrable Securities during the
period, if any, beginning on the earlier of (a) the S-3 Expiration
Date (or, if the S-3 Expiration Date shall occur before the 30th day
prior to the first date on which the Redeemable LLC Units issued pursuant to
the Contribution Agreement may be exchanged for shares of Common Stock,
beginning on such 30th prior day), (b) the Company’s failure to file the
Issuance Registration Statement by the last day on which the Issuance
Registration Statement may be filed as provided in Section 2.1 or (c) if
the Issuance Registration Statement has been filed but has not been declared
effective by the Commission within sixty (60) days after such original filing
date, the sixtieth (60th) day after the original filing date, and ending on the
Full Conversion Date (the “Supplemental Rights Period”); provided, however, that,
except as permitted in Section 3.3 hereof, if the Company is unable
to keep the Issuance Registration Statement effective until the Full Conversion
Date, the Holders shall be entitled to exercise the rights provided under this Section 3.1.  During the Supplemental Rights Period, the
Holders shall have the following rights:

 

(a)           Demand Rights.  Holders may make a written demand for
registration under the Securities Act of all or part of the Registrable
Securities (a “Demand Registration”); provided,
however, that (i) the Company shall not be obligated to effect more
than two (2) Demand Registrations for Holders in any twelve month period,
and (ii) the number of Registrable Securities proposed to be sold by the
Holder(s) making such written demand either (x) shall be all the Registrable
Securities owned by, or that may be issued upon exchange 

 

4

 

of
Redeemable LLC Units to, such Holders , (y) shall have an estimated market
value at the time of such demand (based upon the then market price of a share
of Common Stock) of at least $2,000,000 or (z) shall not be less than 100,000
shares of Common Stock.  The Company
shall file any registration statement required by this Section 3.1(a), which
registration statement shall comply as to form in all material respects with
applicable Commission rules providing for the sale by the Holder(s) of
such Registrable Securities (a “Demand Registration
Statement”), with the Commission within thirty (30) days after
receipt of the requisite Holder demand and shall use its commercially
reasonable efforts to cause the Demand Registration Statement to be declared
effective by the Commission as soon as practicable thereafter.  The Company shall give written notice of the
proposed filing of the Demand Registration Statement to all Holders of
Registrable Securities and Redeemable LLC Units as soon as practicable (but in
no event less than twenty (20) days before the anticipated filing date), and
such notice shall offer such Holders the opportunity to participate in such
Demand Registration and to register such number of shares of Registrable
Securities as each such Holder may request. 
The Company shall use its commercially reasonable efforts to keep each
such Demand Registration Statement continuously effective for a period of one
hundred eighty (180) days (such period, in each case, to be extended by the
number of days, if any, during which Holders were not permitted to make offers
or sales under the Demand Registration Statement by reason of Section 3.3
hereof); provided that in no case shall the Company be obligated to maintain
the effectiveness of any Demand Registration Statement once all the Registrable
Securities covered thereby cease to be Registrable Securities.  The Company may elect to include in any
Demand Registration Statement additional shares of Common Stock to be issued by
the Company; provided, however, that the inclusion of such
additional shares will not adversely affect the marketability of the offering
and, subject, in the case of an underwritten secondary Demand Registration, to
cutback by the managing underwriters.  A
registration shall not constitute a Demand Registration under this Section 3.1(a):
(i) unless and until the Demand Registration Statement has been declared
effective or (ii) if the Demand Registration Statement is suspended for
more than ninety (90) days at any one time. 
Notwithstanding any provision of this Section 3.1(a) to the
contrary, the Company shall have the option, in its sole discretion, to
register pursuant to any Demand Registration Statement, along with Registrable
Securities that Holders have requested to be included in such Demand
Registration Statement in accordance with this Section 3.1(a), any or all
additional Registrable Securities that are outstanding or issuable upon
exchange of Redeemable LLC Units (such additional Registrable Securities, the “Additional Demand Securities”); provided, however, that if the
Company elects to register any Additional Demand Securities in any Demand
Registration Statement, the Company shall use its commercially reasonable
efforts to keep such Demand Registration Statement continuously effective for
the longer of (A) one hundred eighty (180) days (such period, in each
case, to be extended by the number of days, if any, during which Holders were
not permitted to make offers or sales under the Demand Registration Statement
by reason of Section 3.3 hereof) or (B) until all Registrable
Securities covered thereby cease to be Registrable Securities; provided,
further, that in no case shall the Company be obligated to maintain the
effectiveness of any such Demand Registration Statement once all the
Registrable Securities covered thereby cease to be Registrable Securities.

 

(b)           Piggyback Rights.  If the Company at any time during the
Supplemental Rights Period proposes to file a registration statement under the
Securities Act with respect to an offering of shares of Common Stock for its
own account or for the account of any holders of shares of its Common Stock, in
each case solely for cash (other than Demand 

 

5

 

Registration
Statement (in which case the ability of a Holder to participate in such Demand
Registration Statement shall be governed by Section 3.1(a) hereof) or
a registration statement (i) on Form S-8 or any successor form
to Form S-8 or in connection with any employee or director welfare,
benefit or compensation plan, (ii) in connection with an exchange offer or
an offering of securities exclusively to existing security holders of the
Company or its subsidiaries or (iii) relating to a transaction pursuant to
Rule 145 of the Securities Act), the Company shall give written notice of
the proposed registration to the record owners of Registrable Securities and
Redeemable LLC Units at least twenty (20) days prior to the filing of the
registration statement.  The Holders of
Registrable Securities shall have the right to request that all or any part of
its Registrable Securities be included in the registration statement by giving
written notice to the Company within ten (10) days after receipt of the
foregoing notice by the Company; provided, however, (A) if
the registration relates to an underwritten primary offering on behalf of the
Company and the managing underwriters of the offering determine in good faith
that the aggregate amount of securities which the Company, Holders of
Registrable Securities and holders of other piggyback registration rights
propose to include in the registration statement exceeds the maximum amount of
securities that could practicably be included therein without adversely
affecting the marketability of the offering, then the Company will include in
the registration, up to such maximum amount, first, the securities which the
Company proposes to sell, and second, pro rata, the Registrable Securities
requested to be included and the securities proposed to be included by any
holders of other piggyback registration rights, and (B) if the
registration is an underwritten secondary registration on behalf of any of the
other security holders of the Company (the “Secondary Offering
Security Holders”) and the managing underwriters determine in good
faith that the aggregate amount of securities which the Holders of Registrable
Securities, the Secondary Offering Security Holders and the holders of other
piggyback registration rights propose to include in such registration statement
exceeds the maximum amount of securities that could practicably be included
therein without adversely affecting the marketability of the offering, then the
Company will include in the registration, up to such maximum amount, first, the
securities to be sold for the account of the Secondary Offering Security
Holders, and second, pro rata, the Registrable Securities requested to be
included in such registration and the securities proposed to be included by any
holders of other piggyback registration rights. 
The Company shall use its commercially reasonable efforts to cause, but
shall not be obligated to cause, the managing underwriter or underwriters of a
proposed underwritten offering to permit the Registrable Securities requested
to be included in a piggyback registration to be included on the same terms and
conditions as any similar securities of the Company included therein.  It is understood, however, that the
underwriters shall have the right to terminate entirely the participation of
the Holders of Registrable Securities if the underwriters eliminate entirely
the participation in the registration of all the other holders electing to
include securities in the registration (other than the Company and the
Secondary Offering Security Holders) because it is not practicable to include
such securities in the registration.  If
the registration is not an underwritten registration, then all of the
Registrable Securities requested to be included in the registration shall be
included.  Registrable Securities
proposed to be registered and sold pursuant to an underwritten offering for the
account of the Holders of Registrable Securities shall be sold to prospective
underwriters selected by the Company and on the terms and subject to the
conditions of one or more underwriting agreements negotiated between the Company,
the Secondary Offering Security Holders, the Holders of Registrable Securities
and any other holders demanding registration and the prospective 

 

6

 

underwriters.  Registrable
Securities need not be included in any registration statement pursuant to this
provision if in the opinion of counsel to the Company (a copy of which opinion
is delivered to the record owners of Registrable Securities) registration under
the Securities Act is not required for public distribution of the Registrable
Securities.  The Company shall have the
right to terminate or withdraw any registration initiated by it under this Section 3.1(b) prior
to the effectiveness of the registration statement whether or not any holder
has elected to include any Registrable Securities in the registration
statement.

 

(c)           Company Repurchase.  Upon receipt by the Company of a registration
demand pursuant to Section 3.1(a), the Company may, but will not be
obligated to, purchase for cash from any Holder so requesting registration all,
but not less than all, of the Registrable Securities which are the subject of
the request at a price per share equal to the average of the Closing Prices of
a share of Common Stock for the ten (10) trading days immediately preceding
the date of receipt by the Company of the registration request.  In the event the Company elects to purchase
the Registrable Securities which are the subject of a registration request, the
Company shall notify the Holder within five (5) Business Days of the date
of receipt of the request by the Company, which notice shall indicate (i) that
the Company will purchase for cash the Registrable Securities held by the
Holder which are the subject of the request, (ii) the price per share,
calculated in accordance with the preceding sentence, which the Company will
pay the Holder and (iii) the date upon which the Company shall purchase
the Registrable Securities, which date shall not be later than the tenth (10th)
Business Day after receipt of the registration request.  If the Company so elects to purchase the
Registrable Securities which are the subject of a registration request, then
upon such purchase the Company shall be relieved of its obligations under this Section 3.1
with respect to such Registrable Securities.

 

Section 3.2            Additional Registration
Procedures.  In
connection with any registration statement filed by the Company pursuant to Section 2.1
or 3.1 hereof:

 

(a)           Each
Holder agrees to provide in a timely manner information requested by the Company
regarding the proposed distribution by that Holder of the Registrable
Securities and all other information reasonably requested by the Company in
connection with the preparation of the registration statement covering the
Registrable Securities.

 

(b)           Subject to
Section 3.3 hereof, the Company will prepare and file with the
Commission such amendments and supplements as to the registration statement and
the prospectus used in connection therewith as may be necessary (i) to
keep such registration statement effective and (ii) to comply with the
provisions of the Securities Act with respect to the disposition of the
securities covered by such registration statement, in each case for such time
as is contemplated in Section 2.1 or 3.1 above.

 

(c)           The
Company will, if requested by any of the Holders, prior to filing a
registration statement or prospectus, or any amendment or supplement thereto in
connection with any Demand Registration Statement or Piggyback Registration
Statement, furnish to each Selling Holder and each underwriter, if any, of the
Registrable Securities covered by such registration statement or prospectus copies
of such registration statement or prospectus or any amendment or supplement
thereto as proposed to be filed, and thereafter will furnish, 

 

7

 

without
charge, to each Selling Holder and underwriter, if any, such number of
conformed copies of such registration statement, each amendment and supplement
thereto (in each case including all exhibits thereto and documents incorporated
by reference therein), the prospectus included in such registration statement
(including each preliminary prospectus) and such other documents as such
Selling Holder or underwriter may reasonably request in order to facilitate the
disposition of the Registrable Securities owned by such Selling Holder.  The Company shall also promptly notify each
Selling Holder of Registrable Securities covered by any Demand Registration
Statement or Piggyback Registration Statement when such registration statement,
or any post-effective amendment thereto, has become effective.

 

(d)           After
the filing of the registration statement, the Company will promptly notify each
holder of securities covered by the registration statement of any stop order
issued or threatened by the Commission and shall take all commercially
reasonable actions required to prevent the entry of such stop order or to
remove it if entered.

 

(e)           In
connection with any Demand Registration Statement or Piggyback Registration Statement,
the Company will use commercially reasonable efforts to register or qualify the
Registrable Securities under such state securities or blue sky laws of those
jurisdictions in the United States (where an exemption is not available) as any
Selling Holder or managing underwriter or underwriters, if any, reasonably (in
light of the Selling Holder’s intended plan of distribution) requests, and
shall use commercially reasonable efforts to keep each such registration or
qualification effective during the period such registration statement is
required to be kept effective pursuant to this Agreement, and to do any and all
other similar acts and things which may be reasonably necessary or advisable to
enable the Holders to consummate the disposition of the Registrable Securities
owned by the Holders in each such jurisdiction; provided, however,
that the Company will not be required to (i) qualify generally to do
business in any jurisdiction where it would not otherwise be required to
qualify but for this paragraph (d), (ii) subject itself to taxation in any
jurisdiction where it would not otherwise be subject to taxation or (iii) consent
to general service of process in any jurisdiction where it is not then so
subject.

 

(f)            In
connection with any Demand Registration Statement or Piggyback Registration
Statement, the Company will enter into customary agreements (including an
underwriting agreement, if any, in customary form) as are reasonably required
in order to expedite or facilitate the disposition of Registrable Securities
pursuant to the Demand Registration Statement or Piggyback Registration
Statement.  Each Selling Holder
participating in an underwritten offering shall also enter into and perform its
or his obligations under the underwriting agreement.

 

(g)           The
Company shall cause all such Registrable Securities to be listed on each
securities exchange on which the Common Stock of the Company is then listed.

 

(h)           If
the Registrable Securities are of a class of securities that is listed on a
national securities exchange, file copies of any prospectus covering
Registrable Securities with such exchange so that the Selling Holders shall
benefit from the prospectus delivery procedures described in Rule 153
under the Securities Act.

 

8

 

(i)            The
Company will promptly notify each Selling Holder of such Registrable
Securities, at any time when a prospectus relating thereto is required to be
delivered under the Securities Act, of the existence of any fact of which the
Company is aware or the occurrence of an event requiring the preparation of a
supplement or amendment to either the registration statement or related
prospectus so that, as thereafter delivered to the purchasers of such
Registrable Securities, such registration statement or related prospectus, both
as then in effect, will not contain an untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to
make the statement therein, in light of the circumstances then existing, not
misleading and promptly make available to each Selling Holder a reasonable
number of copies of any such supplement or amendment.

 

(j)            The
Company will make available for inspection by any Selling Holder of such
Registrable Securities, any underwriter participating in any disposition
pursuant to such Registrable Securities, any underwriter participating in any
disposition pursuant to such registration statement and any attorney,
accountant or other professional retained by any such Selling Holder or
underwriter (collectively, the “Inspectors”),
all financial and other records, pertinent corporate documents and properties
of the Company (collectively, the “Records”)
as shall be reasonably necessary to enable them to discharge their due diligence
responsibility under the Securities Act, and cause the Company’s officers,
directors and employees to supply all information reasonably requested by any
Inspectors in connection with the discharge of their due diligence
responsibility.  Records which the
Company determines, in good faith, to be confidential and which it notifies the
Inspectors are confidential shall not be disclosed by the Inspectors unless the
release of such Records is ordered pursuant to a subpoena or other order from a
court of competent jurisdiction.  Each
Selling Holder of such Registrable Securities agrees that information obtained
by it as a result of such inspections shall be deemed confidential and shall
not be used by it as the basis for any market transactions in the securities of
the Company or its Affiliates or otherwise disclosed by it unless and until
such is made generally available to the public and further agrees, if the
Company so requests, to enter into a confidentiality agreement with the Company
that is reasonably acceptable to the Selling Holder and the Company.  Each Selling Holder of such Registrable
Securities further agrees that it will, upon learning that disclosure of such
Records is sought in a court of competent jurisdiction, give notice to the
Company and allow the Company, at its expense, to undertake appropriate action
to prevent disclosure of the Records deemed confidential.

 

(k)           If
requested by any Holder participating in the offering of Registrable
Securities, incorporate in a prospectus supplement or post-effective amendment
such information concerning the Holder or the intended method of distribution
as the Holder reasonably requests to be included therein and is reasonably
necessary to permit the sale of the Registrable Securities pursuant to the registration
statement, including, without limitation, information with respect to the
number of Registrable Securities being sold, the purchase price being paid
therefor and any other material terms of the offering of the Registrable
Securities to be sold in such offering; provided, however,
that the Company shall not be obligated to include in any such
prospectus supplement or post-effective amendment any requested information
that is not required by the rules of the Commission and is unreasonable in
scope compared with the Company’s most recent prospectus or prospectus
supplement used in connection with a primary or secondary offering of equity
securities by the Company; provided, further, that the Company 

 

9

 

shall not be required to file more than one (1) prospectus
supplement or post-effective amendment pursuant to this Section 3.2(k) in
any six month period.

 

(l)            In
connection with a disposition of the Registrable Securities in which there is a
participating underwriter or underwriters, the Company will furnish to each
Selling Holder and to each underwriter, a signed counterpart, addressed to such
Selling Holder or underwriter, of (i) an opinion or opinions of counsel to
the Company and (ii) a comfort letter or comfort letters from the Company’s
independent public accountants (to the extent permitted by the standards of the
American Institute of Certified Public Accountants), each in customary form and
covering such matters of the type customarily covered by opinions or comfort
letters, as the case may be, as the Holders of a majority of the Registrable
Securities included in such offering or the managing underwriter or
underwriters therefor reasonably requests.

 

(m)          The
Company will otherwise use its commercially reasonable efforts to comply with
all applicable rules and regulations of the Commission, and make available
to its security holders, as soon as reasonably practicable, an earnings
statement covering a period of twelve (12) months, beginning within three (3) months
after the effective date of the registration statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the
Securities Act and Rule 158 of the Commission promulgated thereunder (or
any successor rule or regulation hereafter adopted by the Commission).

 

(n)           Provide
and cause to be maintained a transfer agent for all Registrable Securities
covered by the registration statement from and after a date not later than the
effective date of the registration statement.

 

Section 3.3            Material Developments;
Suspension of Offering.

 

(a)           Notwithstanding
the provisions of Sections 2.1 or 3.1 hereof or any other provisions of this
Agreement to the contrary, the Company shall not be required to file a
registration statement or to keep any registration statement effective if the
negotiation or consummation of a transaction by the Company or any of its
subsidiaries is pending or an event has occurred, which negotiation,
consummation or event would require additional disclosure by the Company in the
registration statement of material information which the Company (in the
reasonable judgment of management of the Company) has a bona fide
business purpose for keeping confidential and the nondisclosure of which in the
registration statement would be expected, in the Company’s reasonable
determination, to cause the registration statement to fail to comply with
applicable disclosure requirements; provided, however, that the
Company (i) will promptly notify the Holders of Registrable Securities
otherwise entitled to registration of a delay, suspension or withdrawal
pursuant to this Section 3.3(a) and (ii) may not delay, suspend
or withdraw the registration statement for such reason under this Section 3.3(a) more
than twice in any twelve (12) month period or three times in any twenty-four
(24) month period or for more than ninety (90) days at any time.  Upon receipt of any notice from the Company
of the happening of any event during the period the registration statement is
effective which is of a type specified in the preceding sentence or as a result
of which the registration statement or related prospectus contains any untrue
statement of a material fact or omits to state any material fact required to be
stated therein or necessary to make the statement therein, in light of the
circumstances under which they were made not misleading, the Holders agree that
they will 

 

10

 

immediately
discontinue offers and sales of the Registrable Securities under the registration
statement (until they receive copies of a supplemental or amended prospectus
that corrects the misstatements or omissions and receive notice that any
post-effective amendment has become effective or unless notified by the Company
that they may resume such offers and sales). 
If so directed by the Company, Holders will deliver to the Company any
copies of the prospectus covering the Registrable Securities in their
possession at the time of receipt of such notice.  Each Holder agrees to keep confidential the
fact that the Company has exercised its rights under this Section 3.3 and
all facts and circumstances relating to such exercise until such information is
made public by the Company.

 

(b)           If
all reports required to be filed by the Company pursuant to the Exchange Act
have not been filed by the required date without regard to any extension, or if
the consummation of any business combination by the Company has occurred or is
probable for purposes of Rule 3-05 or Article 11 of
Regulation S-X under the Securities Act, upon written notice thereof by
the Company to the Holders, the rights of the Holders to acquire Registrable
Securities pursuant to the Issuance Registration Statement or to offer, sell or
distribute any Registrable Securities pursuant to any Demand Registration
Statement or Piggyback Registration Statement or to require the Company to take
action with respect to the registration of any Registrable Securities pursuant
to this Agreement shall be suspended until the date on which the Company has
filed such reports or obtained and filed the financial information required by Rule 3-05
or Article 11 of Regulation S-X to be included or incorporated by
reference, as applicable, in the Issuance Registration Statement, the Demand
Registration Statement or the Piggyback Registration Statement and the Company
shall notify the Holders as promptly as practicable when such suspension is no
longer required.  The Company’s rights to
suspend its obligations under this Section 3.3(b) shall be in
additional to its rights under Section 3.3(a).

 

Section 3.4            Registration Expenses.  In connection
with any registration statement required to be filed hereunder, except as
provided below, the Company shall pay all registration expenses incurred in
connection with the registration (the “Registration Expenses”), including the
following: (i) all registration and filing fees, (ii) fees and
expenses of compliance with securities or blue sky laws (including the fees and
expenses of counsel to the Company), (iii) printing and distribution expenses,
(iv) internal expenses (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties), (v) the
fees and expenses incurred in connection with the listing of the Registrable Securities
on each securities exchange on which similar securities issued by the Company
are then listed, (vi) fees and disbursements of counsel for the Company
and the independent public accountants of the Company, and (vii) the fees
and expenses of any experts retained by the Company in connection with such
registration; provided, however, that, promptly after the filing of the first
registration statement hereunder, Aegis Assisted Living, LLC shall pay or cause
to be paid to the Company an aggregate of $75,000 as provided in the
Contribution Agreement. The Holders shall be responsible for the payment of any
and all other expenses incurred by them in connection with the registration and
sale of Registrable Securities, including, without limitation, brokerage and
sales commissions, underwriting and placement agent fees, discounts and
commissions attributable to the Registrable Securities, fees and disbursements
of counsel representing the Holders, all salaries and expenses of its officers
and employees performing legal or accounting duties and any transfer taxes
relating to the sale or disposition of the Registrable Securities.

 

11

 

Section 3.5            Indemnification by the
Company.  The
Company agrees to indemnify and hold harmless each Selling Holder, its
partners, members, officers, directors, employees, representatives, and agents,
and each Person, if any, who controls such Selling Holder within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act
from and against any and all losses, claims, actions, damages, liabilities,
costs and expenses (including, without limitation, but subject to the
provisions of Section 3.7 hereof, reasonable attorneys’ fees and
disbursements) caused by any untrue statement or alleged untrue statement of a
material fact contained in any Demand Registration Statement or Piggyback
Registration Statement (or any amendment thereto) (individually, a “Resale  Registration Statement”),
including all documents incorporated therein by reference, or the omission or
alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances in
which they were made, not misleading, or arising out of any untrue statement or
alleged untrue statement of a material fact contained in any prospectus (or any
amendment thereto) contained in a Resale Registration Statement at the time it
became effective (a “Resale Prospectus”),
including all documents incorporated therein by reference, or the omission or
alleged omission therefrom of a material fact necessary in order to make the
statements therein, in light of the circumstances under which they were made,
not misleading, except insofar as such losses, claims, damages or liabilities
are caused by any such untrue statement or omission or alleged untrue statement
or omission based upon information furnished in writing to the Company by such
Selling Holder or on such Selling Holder’s behalf expressly for inclusion
therein; provided, however, that the Company will not be liable
in any case to the extent that any such claim, loss, damage, liability or
expense arises out of or is based upon any untrue statement or omission
contained in a Resale Prospectus which was corrected in a supplement or
amendment thereto if such claim is brought by a purchaser of Registrable
Securities from the Selling Holder and the Selling Holder failed to deliver to
such purchaser the supplement or amendment to the Resale Prospectus in a timely
manner.

 

Section 3.6            Indemnification by Holders
of Registrable Securities.  Each
Selling Holder of Registrable Securities covered by a Resale Registration
Statement agrees to indemnify and hold harmless the Company, its officers,
directors and agents and each Person, if any, who controls the Company within
the meaning of either Section 15 of the Securities Act or Section 20
of the Exchange Act to the same extent as the indemnity set forth in Section 3.5
from the Company to Selling Holders, but only with respect to information
relating to such Selling Holder furnished in writing by such Selling Holder or
on such Selling Holder’s behalf expressly for use in any Resale Registration
Statement or Resale Prospectus or any amendment or supplement thereto.  Each Holder also agrees to indemnify and hold
harmless underwriters of the Registrable Securities, their officers and
directors and each Person who controls such underwriters within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act on substantially
the same basis as that of the indemnification of the Company provided in this Section 3.6.

 

Section 3.7            Conduct of Indemnification
Proceedings.  Each
indemnified party shall give reasonably prompt notice to each indemnifying
party of any action or proceeding commenced against it in respect of which
indemnity may be sought hereunder, but failure to so notify the indemnifying
party (i) shall not relieve it from any liability which it may have under
the indemnity agreement provided in Section 3.5 or 3.6 above, unless and
to the extent it did not otherwise learn of such action and the lack of notice
by the indemnified party results in the 

 

12

 

forfeiture by the indemnifying party of substantial rights and defenses
and (ii) shall not, in any event, relieve the indemnifying party from any
obligations to the indemnified party other than the indemnification obligation
provided under Section 3.5 or 3.6 above. 
If the indemnifying party so elects within a reasonable time after
receipt of notice, the indemnifying party may assume the defense of the action
or proceeding at the indemnifying party’s own expense with counsel chosen by
the indemnifying party and approved by the indemnified party, which approval
shall not be unreasonably withheld; provided,
however, that the indemnifying party will not
settle, compromise or consent to the entry of any judgment with respect to any
such action or proceeding without the written consent of the indemnified party
unless such settlement, compromise or consent secures the unconditional release
of the indemnified party; provided, further, that if the
defendants in any such action or proceeding include both the indemnified party
and the indemnifying party and the indemnified party reasonably determine based
upon advice of legal counsel experienced in such matters, that there may be
legal defenses available to it which are different from or in addition to those
available to the indemnifying party, then the indemnifying party shall not be
entitled to assume the defense of the indemnified party and the indemnified
party shall be entitled to separate counsel at the indemnifying party’s
expense, which counsel shall be chosen by the indemnified party and approved by
the indemnifying party, which approval shall not be unreasonably withheld; and provided,
further, that it is understood that the indemnifying party shall not be
liable for the fees, charges and disbursements of more than one separate
firm.  If the indemnifying party is not entitled to assume the defense of such
action or proceeding as a result of the second proviso to the preceding
sentence, the indemnifying party’s counsel shall be entitled to conduct the
indemnifying party’s defense and counsel for the indemnified party shall be
entitled to conduct the defense of the indemnified party, it being understood
that both such counsel will cooperate with each other, to the extent feasible
in light of the conflict of interest or different available legal defenses, to
conduct the defense of such action or proceeding as efficiently as
possible.  If the indemnifying
party is not so entitled to assume the defense of such action or does not
assume the defense, after having received the notice referred to in the first
sentence of this Section 3.7, the indemnifying party will pay the
reasonable fees and expenses of counsel for the indemnified party; in that
event, however, the indemnifying party will not be liable for any settlement
effected without the written consent of the indemnifying party.  If an indemnifying party is entitled to
assume, and assumes, the defense of an action or proceeding in accordance with
this Section, the indemnifying party shall not be liable for any fees and
expenses of counsel for the indemnified party incurred thereafter in connection
with that action or proceeding except as set forth in the proviso in the second
sentence of this Section 3.7. 
Unless and until a final judgment is rendered that an indemnified party
is not entitled to the costs of defense under the provisions of this Section,
the indemnifying party shall reimburse, promptly as they are incurred, the
indemnified party’s costs of defense.

 

Section 3.8            Contribution.

 

(a)           If
the indemnification provided for in Section 3.5 or 3.6 hereof is applicable
in accordance with its terms, but if determined by a court of competent
jurisdiction to be legally unenforceable in respect of any losses, claims,
damages or liabilities referred to therein, then each indemnifying party, in
lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by indemnified party as a result of such losses, claims,
damages or liabilities as between the Company on the one hand and each Selling
Holder on the 

 

13

 

other,
in such proportion as is appropriate to reflect the relative fault of the
Company on the one hand and of each Selling Holder on the other in connection
with such statements or omissions which resulted in such losses, claims,
damages or liabilities, as well as any other relevant equitable
considerations.  The relative fault of
the Company on the one hand and of each Selling Holder on the other shall be
determined by reference to, among other things, whether the action in question,
including any untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact, has been made by, or
relates to information supplied by, the Company or such Selling Holder, and the
Company’s and the Selling Holder’s relative intent, knowledge, access to
information and opportunity to correct or prevent such action.

 

(b)           The
Company and the Selling Holders agree that it would not be just and equitable
if contribution pursuant to this Section 3.8 were determined by pro rata
allocation or by any other method of allocation which does not take account of
the equitable considerations referred to in Section 3.8(a).  The amount paid or payable by an indemnifying
party as a result of the losses, claims, damages or liabilities referred to in
Sections 3.5 and 3.6 hereof shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by
the indemnified party in connection with investigating or defending any such
action or claim.  Notwithstanding the
provisions of this Section 3.8, no Selling Holder shall be required to
contribute any amount in excess of the amount of the total proceeds to such
Selling Holder from sales of the Registrable Securities of the Selling Holder
under the registration statement that is the subject of the claim.  No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. 
For purposes of this Section 3.8, each person, if any,
who controls a Selling Holder within the meaning of Section 15 of the
Securities Act shall have the same rights to contribution as the Selling
Holder, and each director of the Company, each officer of the Company who
signed a registration statement and each person, if any, who controls the
Company within the meaning of Section 15 of the Securities Act shall have
the same rights to contribution as the Company.

 

Section 3.9            Participation in
Underwritten Registrations.  No
Holder may participate in any underwritten registration hereunder unless the
Holder (a) agrees to sell his or its Registrable Securities on the basis
provided in the applicable underwriting arrangements and (b) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents in customary form as reasonably required under
the terms of such underwriting arrangements.

 

Section 3.10         Holdback Agreements.  Each Holder whose
securities are included in a Demand Registration Statement or Piggyback
Registration Statement agrees not to effect any sale or distribution of the
securities registered or any similar security of the Company, or any securities
convertible into or exchangeable or exercisable for such securities, including
a sale pursuant to Rule 144 under the Securities Act, during the fourteen
(14) days prior to, and during the ninety (90)-day period beginning on, the
effective date of such registration statement (except as part of such
registration) if and to the extent requested in writing by the managing
underwriter or underwriters in the case of an underwritten public offering.

 

14

 

ARTICLE IV.

MISCELLANEOUS

 

Section 4.1            Specific Performance.  The parties
hereto acknowledge that there would be no adequate remedy at law if any party
fails to perform any of its obligations hereunder, and accordingly agree that
each party, in addition to any other remedy to which it may be entitled at law
or in equity, shall be entitled to seek specific performance of the
obligations, covenants and agreements of any other party under this Agreement
in accordance with the terms and conditions of this Agreement in any court of
the United States or any State thereof having jurisdiction.

 

Section 4.2            Amendments and Waivers.  The provisions
of this Agreement, including the provisions of this sentence, may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, without the prior written consent of
the Company and the Holders holding at least a majority of the then outstanding
Registrable Securities and Redeemable LLC Units, taken together as one class
assuming all Redeemable LLC Units were exchanged for Registrable
Securities.  No failure or delay by any
party to insist upon the strict performance of any covenant, duty, agreement or
condition of this Agreement or to exercise any right or remedy consequent upon
any breach thereof shall constitute a waiver of any such breach or any other
covenant, duty, agreement or condition.

 

Section 4.3            Notices.  Any notice
required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been given (a) when delivered by hand or upon
transmission by telecopier or similar facsimile transmission device, (b) on
the date delivered by a courier service, or (c) on the third Business Day
after mailing by registered or certified mail, postage prepaid, return receipt
requested, in any case addressed as follows:

 

(a)           if
to any Holder, to such Holder at the address set forth under such Holder’s name
on the signature page hereto, or to such other address and to such other
Persons as the Holders may hereafter notify the Company in writing; and

 

(b)           if
to the Company, to Health Care Property Investors, Inc., 3760 Kilroy
Airport Way, Suite 300, Long Beach, California 90806 (Attention:  Legal Department), or to such other address
as the Company may hereafter specify in writing.

 

Section 4.4            Successors and Assigns.  The rights and
obligations of the Holders under this Agreement shall not be assignable by any
Holder to any Person that is not a Holder; provided, however, that a Unitholder may assign its rights and
obligations hereunder, following prior written notice to the Company, to a
permitted transferee in connection with a transfer of some or all of such
Unitholder’s LLC Units in accordance with the terms of the LLC Agreement, if
such transferee agrees in writing to be bound by all of the provisions hereof.  This Agreement shall be binding upon the
parties hereto, the Holders and their respective successors and assigns
(including lenders in foreclosure).

 

Section 4.5            Counterparts.  This Agreement
may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so 

 

15

 

executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

 

Section 4.6            Governing Law.  This Agreement
shall be governed by and construed in accordance with the internal laws of the
State of California without regard to the conflicts of law provisions thereof.

 

Section 4.7            Severability.  In the event
that any one or more of the provisions contained herein, or the application
thereof in any circumstance, is held invalid, illegal or unenforceable, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions contained herein shall not be affected
or impaired thereby.

 

Section 4.8            Entire Agreement.  This Agreement
is intended by the parties as a final expression of their agreement and
intended to be a complete and exclusive statement of the agreement and understanding
of the parties hereto in respect of the subject matter contained herein.  This Agreement supersedes all prior
agreements and understandings between the parties with respect to the subject
matter of this Agreement.

 

Section 4.9            Headings.  The headings in
this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning of any provision of this Agreement.

 

Section 4.10         Selling Holders Become
Party to this Agreement.  By
asserting or participating in the benefits of registration of Registrable
Securities pursuant to this Agreement, each Holder agrees that it or he will be
deemed a party to this Agreement and be bound by each of its terms.

 

Section 4.11         Rule 144.  The Company
covenants that it will file any reports required to be filed by it under the
Securities Act and the Exchange Act to the extent required from time to time to
enable Holders to sell Registrable Securities without registration under the
Securities Act within the limitations of the exemptions provided by (a) Rule 144
under the Securities Act, as such Rule may be amended from time to time,
or (b) any similar rule or regulation hereafter adopted by the
Commission.  Upon the request of any
Holder, the Company will deliver to such Holder a written statement as to
whether it has filed such reports.  In
connection with any sale, transfer or other disposition by a Holder of any
Registrable Securities pursuant to Rule 144 under the Securities Act, the
Company shall cooperate with the Holder to facilitate the timely preparation
and delivery of certificates representing the Registrable Securities to be sold
and not bearing any Securities Act legend, and enable certificates for such
Registrable Securities to be for such number of shares and registered in such
names as Holder may reasonably request; provided, that any such request
shall be made at least five (5) Business Days prior to any sale of
Registrable Securities hereunder.

 

16

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  HEALTH CARE PROPERTY INVESTORS, INC.,

  
	
   

  	
  a Maryland corporation

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen R. Maulbetsch

  	
   

  
	
   

  	
  Name:

  	
  Stephen R. Maulbetsch

  	
   

  
	
   

  	
  Title:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  UNITHOLDERS:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ William P. Gallaher

  	
   

  
	
   

  	
  William P. Gallaher,
  Trustee for the William P.

  	
   

  
	
   

  	
  & Cynthia L. Trust

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   /s/ Dwayne J. Clark

  	
   

  
	
   

  	
  Dwayne J. Clark, an
  individual

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  See Schedule A for
  additional Unitholders:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  William P. Gallaher

  	
   

  
	
   

  	
   

  	
  William P. Gallaher, as
  attorney-in-fact

  	
   

  
	
   

  	
   

  	
  for each Unitholder
  other than those Unitholders

  	
   

  
	
   

  	
   

  	
  whose signature appears
  above

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address for Notices to
  Unitholders:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [See Schedule A
  attached hereto]

  	
   

  
							

 

17

 

Schedule A
to

Registration Rights Agreement

 

	
  Unitholders

  	
   

  	
  Addresses

  
	
  1

  	
   

  	
  William P. Gallaher,
  Trustee for the 

  William P. & Cynthia J. Gallaher Trust

  	
   

  	
  220 Concourse Blvd.,
  Santa Rosa, CA 95403

  
	
  2

  	
   

  	
  Dwayne J. Clark

  	
   

  	
  18200 NE Union Hill
  Rd., Suite 110, Redmond, WA 98052

  
	
  3

  	
   

  	
  Patrick R. Gallaher,
  Trustee for the Patrick R. & Cynthia M. Gallaher Trust

  	
   

  	
  531 Sauvignon Place,
  Windsor, CA 95492

  
	
  4

  	
   

  	
  Jeffrey D. Civian,
  Trustee for the Jeffrey D. Civian Trust dated August 8, 1986

  	
   

  	
  3375 Montecito Lane,
  Santa Rosa, CA 95404

  
	
  5

  	
   

  	
  Jeffrey Meyer

  	
   

  	
  8335 Starr Rd.,
  Windsor, CA 95492

  
	
  6

  	
   

  	
  Steven L. Gallaher

  	
   

  	
  2 Rutland Ct., Alameda,
  CA 94502

  
	
  7

  	
   

  	
  Richard Coombs

  	
   

  	
  9982 Troon Ct.,
  Windsor, CA 95492

  
	
  8

  	
   

  	
  Larry L. Wasem

  	
   

  	
  414 Aviation Blvd.,
  Santa Rosa, CA 95403

  
	
  9

  	
   

  	
  Joseph H.
  Ward, Jr., Trustee for the Joseph H. Ward, Jr. and Pamela K. Ward
  Trust

  	
   

  	
  2170 Grace Dr., Santa
  Rosa, CA 95404

  
	
  10

  	
   

  	
  Borue H. O’Brien

  	
   

  	
  200 Queens Lane,
  Petaluma, CA 94952

  
	
  11

  	
   

  	
  William R. Mabry

  	
   

  	
  6840 Giovanetti Rd.,
  Forestville, CA 95436

  
	
  12

  	
   

  	
  Charles N. Elsbree,
  Trustee for the Charles N. Elsbree Jr. Living Trust dated February 14,
  2002

  	
   

  	
  P.O. Box 867,
  Windsor, CA 95492

  
	
  13

  	
   

  	
  Gary A. Robinson

  	
   

  	
  6171 Anderson Rd.,
  Forestville, CA 95436

  
	
  14

  	
   

  	
  Thomas H. Persons,
  Trustee for the Persons Family Revocable Trust under trust dated
  February 15, 2005

  	
   

  	
  500 Washington St.,
  Suite 700, San Francisco, CA 94111

  
	
  15

  	
   

  	
  Glen Hammel

  	
   

  	
  3540 Mono Place, Davis,
  CA 95616

  
	
  16

  	
   

  	
  Marilyn E. Montero

  	
   

  	
  6171 Anderson Rd.,
  Forestville, CA 95436

  
	
  17

  	
   

  	
  Joseph G. Lin, Trustee
  for the Lin Revocable Living Trust

  	
   

  	
  220 Concourse Blvd.,
  Santa Rosa, CA 95403

  
	
  18

  	
   

  	
  Ned B. Stein

  	
   

  	
  326 Blabcock Rd.,
  Houston, TX 77024

  
	
  19

  	
   

  	
  John Gladstein, Trustee
  for the John & Andrea Gladstein Family Trust dated February 11,
  2003

  	
   

  	
  3350 Calistoga Rd.,
  Santa Rosa, CA 95404

  
	
  20

  	
   

  	
  Francis Connelly,
  Trustee for the The Francis J & Shannon A Connelly Trust

  	
   

  	
  P.O. Box 972 St.,
  Helena, CA 94574

  
	
  21

  	
   

  	
  Al Coppin, Trustee for
  the Al Coppin Trust

  	
   

  	
  1355 N. Dutton Ave.,
  Santa Rosa, CA 95401

  
	
  22

  	
   

  	
  Stephen B. McCullagh,
  Trustee for the Stephen B. & Pamela McCullagh Trust dated
  October 22, 2001

  	
   

  	
  3564 Foxwood Pl., Santa
  Rosa, CA 95405

  
	
  23

  	
   

  	
  Larry L. Wasem – SEP
  IRA

  	
   

  	
  414 Aviation Blvd.,
  Santa Rosa, CA 95403

  

 

S-A

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