Document:

Employment Inducement Restricted Stock Unit Agreement, dated April 17, 2009

 Exhibit 10.1 
 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS 
 COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER

 THE SECURITIES ACT OF 1933 
 Name
of Participant:      Blank, Donna         
 NATIONAL
FINANCIAL PARTNERS CORP. 
 EMPLOYMENT INDUCEMENT 
 RESTRICTED STOCK UNIT AGREEMENT 
 This EMPLOYMENT INDUCEMENT RESTRICTED STOCK UNIT AGREEMENT, made as
of the date set forth on the Notice of Grant of Restricted Stock Units, by and between National Financial Partners Corp., a Delaware corporation (the “Company”), and Donna J. Blank (the “Participant”). 
 WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company has authorized the grant
to the Participant of the Restricted Stock Units as set forth in the Notice of Grant of Restricted Stock Units to the Participant as part of an inducement for employment in accordance with New York Stock Exchange Rule 303A.08 pursuant to the letter
agreement by and between the Company and the Participant dated August 4, 2008 regarding the terms of the Participant’s employment with the Company. 
 NOW, THEREFORE, as a material inducement for the Participant to commence employment with the Company, and in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration,
the parties hereto have agreed and do hereby agree as follows: 
  

	1.	Grant of Award. Pursuant to the Committee’s action on July 30, 2008, the Company grants to the Participant, as of the effective date of grant specified in the
Notice of Grant of Restricted Stock Units and subject to the terms and conditions set forth herein, the number of Restricted Stock Units as shown on the Notice of Grant of Restricted Stock Units. Record of the Participant’s grant shall be kept
on the books of the Company until the Restricted Period (as defined in Section 2) shall have lapsed. 

  

	2.	 Vesting. The Restricted Stock Units granted to the Participant shall vest and become payable in accordance with the schedule set forth in the Notice of Grant
of Restricted Stock Units, attached hereto as Exhibit A. Such schedule indicates each date upon which the Participant shall be entitled to receive shares of Common Stock, provided that as of each such vesting date, the Participant’s Employment,
as defined below, with the Company and its affiliates has not been terminated, except as otherwise provided herein. The period from the date of grant of a Restricted Stock Unit to the 

	 	 
date it becomes vested and payable shall be referred to herein as the “Restricted Period.” 

  

	3.	Form of Payment. Unless otherwise determined by the Committee at the time of payment, and except as provided in Section 8, each Restricted Stock Unit granted hereunder
shall represent the right to receive one share of Common Stock upon the vesting of such Restricted Stock Unit. 

  

	4.	Dividend Equivalents. Restricted Stock Units shall earn dividend equivalents as of each date (a “Dividend Date”) on which cash dividends and/or special dividends
and distributions are paid with respect to Common Stock, provided that the record date with respect to such dividend or distribution occurs within the Restricted Period. Dividend equivalents earned during each Restricted Period shall be paid on the
following vesting date, at the discretion of the Committee, in cash or additional Restricted Stock Units. 

  

	  	If paid in additional Restricted Stock Units, the number of Restricted Stock Units earned for each dividend paid shall equal the quotient obtained by dividing (a) the product
of (i) the number of the Restricted Stock Units credited to such participant’s account on the record date for such dividend or distribution and (ii) the per share dividend (or distribution value) payable on such Dividend Date, by
(b) the Fair Market Value of a share of Common Stock as of such Dividend Date. Immediately prior to a vesting date, the data for each dividend paid during a Restricted Period, as calculated in accordance with the previous sentence, shall be
aggregated and rounded to the nearest whole number, and the Restricted Stock Units will be awarded. 

  

	5.	Restrictions on Transfer. Restricted Stock Units may not be transferred or otherwise disposed of by the Participant, including by way of sale, assignment, transfer, pledge,
hypothecation or otherwise, except as permitted by the Committee, or by will or the laws of descent and distribution. No purported sale, assignment, mortgage, hypothecation, transfer, pledge, encumbrance, gift, transfer in trust (voting or other) or
other disposition of, or creation of a security interest in or lien on, any of the Restricted Stock Units by any holder thereof in violation of the provisions of this Restricted Stock Unit Agreement shall be valid, and the Company will not transfer
any of such Restricted Stock Units on its books, nor will any dividends be paid thereon, unless and until there has been full compliance with such provisions to the satisfaction of the Company. The foregoing restrictions are in addition to and not
in lieu of any other remedies, legal or equitable, available to enforce said provisions. 

  

	6.	Approvals. No shares of Common Stock shall be issued under this Restricted Stock Unit Agreement unless and until all legal requirements applicable to the issuance of such
shares have been complied with to the satisfaction of the Committee. The Committee shall have the right to condition any issuance of shares to the Participant on the Participant’s undertaking in writing to comply with such restrictions on the
subsequent disposition of such shares as the Committee shall deem necessary or advisable as a result of any applicable law or regulation. 

  

	7.	 Termination of Employment. Subject to Section 8 below, in the event that the Participant’s Employment with the Company and its affiliates
terminates other than because of the Participant’s death or Disability, those Restricted Stock Units with respect 

  

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to which the restrictions and forfeiture provisions have not lapsed shall immediately be forfeited and cancelled. In the event that the Participant’s
Employment with the Company and its affiliates terminates because of the Participant’s death or Disability, all Restricted Stock Units with respect to which the restrictions and forfeiture provisions have not lapsed shall become immediately
vested and payable. 

  

	8.	Change in Control. In the event of a Change in Control (as defined in paragraph 8(c) below), the following provisions shall apply to the Restricted Stock Units that have not
become vested and payable as of the effective date of such Change in Control: 

  

	 	(a)	In the event that the Restricted Stock Units are not expressly assumed by a successor to the Company’s business pursuant to the transaction(s) constituting a Change in Control,
all of the Restricted Stock Units with respect to which the restrictions and forfeiture provisions have not lapsed shall become immediately vested and payable in cash upon ten business days following such Change in Control. The amount to be so paid
to the Participant shall be calculated by multiplying (i) the number of Restricted Stock Units then becoming vested and payable by (ii) the per share Fair Market Value of the Common Stock as of the date of the Change in Control.

  

	 	(b)	In the event that the Restricted Stock Units are expressly assumed by a successor to the Company’s business pursuant to the transaction(s) constituting a Change in Control, the
Restricted Stock Units shall remain subject to their original terms and conditions, except as adjusted by the Committee to provide for such assumption; provided, however, that in the event the Participant’s Employment with the
Company and its affiliates is terminated either (i) in contemplation of the Change In Control six months prior to the Change in Control or (ii) as a result of the Change in Control within eighteen months after the Change in Control either
(x) by such successor entity or one of its affiliates other than for Cause (as defined in paragraph 8(c) below), or (y) by the Participant for Good Reason (as defined in paragraph 8(c) below), those Restricted Stock Units with respect to
which the restrictions and forfeiture provisions have not lapsed as of the effective date of such termination of Employment shall become immediately vested and payable as of the effective date of such termination. 

  

	 	(c)	Definitions: For purposes of this Agreement: 

  

	 	  	 “Cause” shall mean (i) the failure of the Participant to substantially fulfill his or her obligations with respect to his or her Employment,
(ii) the Participant is charged with or convicted of a felony or engages in conduct that constitutes gross negligence or gross misconduct in carrying out his or her duties with respect to his or her Employment, (iii) violation by the
Participant of any noncompetition, nonsolicitation or confidentiality provision contained in any agreement between the Participant and the Company, (iv) any material act by the Participant involving dishonesty or disloyalty or any act by the
Participant involving moral turpitude which adversely affects the business of the 

  

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Company or (v) the breach by the Participant of any material provision of the Company’s code of ethics or policies with regard to trading in
securities of the Company or any other policies or regulations of the Company governing the conduct of its employees or contractors. 

  

	 	  	A “Change in Control” shall mean: 

 (1) any
“person”, as such term is used in Sections 3(a)(9) and 13(d) of the Securities and Exchange Act of 1934 (the “Securities Act”), other than the Company or any employee benefit plan sponsored by the Company, becomes a
“beneficial owner”, as such term is used in Rule 13d-3 promulgated under the Securities Act, of 30% or more of the outstanding shares of common stock of the Company; 
 (2) the dissolution or sale of all or substantially all of the assets of the Company; 
 (3) consummation of a merger or consolidation after which, (A) the shareholders of the Company immediately prior to the combination do not hold,
directly or indirectly, Voting Securities (as defined below) or other ownership interests of the entity or entities, if any, that succeed to the business of the Company having more than 50% of the Voting Power (as defined below) of the combined
company in substantially the same proportions as they beneficially owned the Voting Securities of the Company (there being excluded from the Voting Securities held by such shareholders, but not from the Voting Securities of the combined company, any
shares received by affiliates of such other company in exchange for securities of such other company) or (B) individuals who were Incumbent Members (as defined below) of the Board immediately before such combination do not hold a majority of
the seats on the board of directors of the combined company; or 
 (4) at any time after December 16, 2004, individuals who, as of
December 16, 2004, constitute the Board (the “Incumbent Members”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to December 16, 2004
whose election, or nomination for election by the stockholders of the Company, was approved by a vote of at least a majority of the then Incumbent Members shall be considered as though such individual were an Incumbent Member, but excluding, for
this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest or other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the
Board. 
 For purposes hereof (A) “Voting Securities” shall mean any securities of a corporation entitled, or which may be
entitled, to vote on matters submitted to the stockholders generally (whether or not entitled to vote in the general 

  

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election of directors), or securities which are convertible into, or exercisable or exchangeable for, such Voting Securities, whether or not subject to the
passage of time or any contingency and (B) “Voting Power” shall mean the number of votes available to be cast (determined by reference to the maximum number of votes entitled to be cast by the holders of such Voting Securities, or by
the holders of any other Voting Securities into which such other Voting Securities may be convertible, exercisable or exchangeable for, upon any matter submitted to stockholders where the holders of all Voting Securities vote together as a single
class) by the holders of Voting Securities. 
 “Common Stock” means the common stock, par value $0.10 per share, of the Company.

 “Employment” means employment with, or services performed as an officer, non-Employee director, Employee, independent contractor
(including, without limitation, managers, including an entity manager) or agent of or as a consultant to, the Company or any Related Entity. 
 “Good Reason” shall mean any of the following without the consent of the Participant: (i) a material diminution in Participant’s position, duties or responsibilities from those held, exercised and/or assigned to
Participant immediately prior to a Change in Control, (ii) a substantial reduction, in the aggregate, of current base salary, bonus opportunity, incentive compensation and benefits provided to the Participant other than an across-the-board
reduction which applies to other similarly situated Participants or (iii) any requirement that the Participant’s services be rendered primarily at a location or locations more than 50 miles from the Participant’s principal place of
Employment as of the date of a Change in Control. 
  

	9.	Taxes. The Participant understands that the Participant (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions
contemplated by this Restricted Stock Unit Agreement. At the time the Participant recognizes taxable income in respect to the Restricted Stock Units, the Participant shall owe to the Company an amount equal to the federal, state and/or local taxes
the Company determines it is required to withhold under applicable tax laws with respect to the payment of the Restricted Stock Units. At the Company’s discretion, the Participant may satisfy the foregoing requirement by one or a combination of
the following methods: (a) making a payment to the Company in cash or cash equivalents; (b) with the consent of the Company, by authorizing the Company to withhold cash otherwise due to the Participant; (c) authorizing the Company to
withhold a portion of the shares of Common Stock to be received hereunder having a value equal to or less than the minimum amount required to be withheld or (d) a combination of the foregoing. 

  

	10.	 Compliance with Law and Regulations. This Agreement, the Award granted hereby and any obligation of the Company hereunder shall be subject to all applicable

  

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federal, state and local laws, rules and regulations and to such approvals by any government or regulatory agency as may be required.

  

	11.	Additional Terms and Conditions. The Participant shall have none of the rights of a stockholder of the Company with respect to any portion of such Inducement Award unless and
until shares of Common Stock have been issued to the Participant in settlement of such Inducement Award. The Restricted Stock Units granted to the Participant pursuant to this Agreement are granted on a stand-alone basis outside the National
Financial Partners Corp. 2002 Stock Incentive Plan (the “Plan”), as a material inducement for the Participant to commence employment with the Company. Notwithstanding the foregoing, it is intended that all of the terms and conditions
of the Plan that would otherwise have been applicable to the Restricted Stock Units if the Restricted Stock Units been granted under the Plan (except as otherwise expressly provided herein) be applicable to the Restricted Stock Units granted
pursuant to this Agreement, and accordingly, references to the Plan are made herein for such purpose. Unless otherwise defined in this Agreement, terms used in this Agreement will have the meanings as set forth in the Plan. The Committee of the
Board is authorized to grant to the Participant, as of the effective date of grant specified in the Notice of Grant of Restricted Stock Units and subject to the terms and conditions set forth herein, the number of Restricted Stock Units as shown on
the Notice of Grant of Restricted Stock Units. 

  

	12.	Notices. Any notices required or permitted hereunder shall be addressed to Office of the General Counsel, National Financial Partners, 340 Madison Avenue, New York, New York,
10173, or to the Participant at the address then on record with the Company, as the case may be, and deposited, postage prepaid, in the United States mail. Either party may, by notice to the other given in the manner aforesaid, change his/her or its
address for future notices. 

  

	13.	Binding Agreement; Successors. This Agreement shall bind and inure to the benefit of the Company, its successors and assigns, and the Participant and the Participant’s
personal representatives and beneficiaries. 

  

	14.	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. The Committee shall have final authority to interpret
and construe this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon all Persons. 

  

	15.	Amendment. This Agreement may be amended or modified by the Company at any time; provided, that notice is provided to the Participant in accordance with Section 12; and
provided, further, that no amendment or modification that is adverse to the rights of the Participant as provided by this Agreement shall be effective unless set forth in a writing signed by the parties hereto. 

  

	16.	 Adjustment. Subject to any required action by the stockholders of the Company, the number of shares of Common Stock covered by each outstanding Restricted
Stock Unit, the purchase price of each such outstanding Restricted Stock Unit, as well as 

  

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any other terms that the Committee determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of
issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the shares of Common Stock, or similar transaction affecting the shares of Common Stock, (ii) any other increase
or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Company, or (iii) as the Committee may determine in its discretion, any other transaction with respect to Common Stock to which
Section 424(a) of the Internal Revenue Code of 1986, as amended (the “Code”) applies or a similar transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed to have
been “effected without receipt of consideration.” The Committee shall make such adjustment and its determination shall be final, binding and conclusive. Except as the Committee determines, no issuance by the Company of shares of stock of
any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to a Restricted Stock Unit. 

 

	17.	Awards and Certificates. Shares of Common Stock issuable upon settlement of a Restricted Stock Unit shall be evidenced in such manner as the Committee may deem appropriate,
including book-entry registration or issuance of one or more stock certificates. Any certificate issued in respect of a Restricted Stock Unit shall be registered in the name of such Participant and shall bear appropriate legends referring to the
terms, conditions, and restrictions applicable to such Award, if any. 

  

	18.	No Right of Employment. This Agreement shall not confer upon the Participant any right to continued Employment, nor shall it interfere in any way with the right of the
Company or any related entity thereof to terminate the Employment of the Participant at any time. 

  

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 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its officer thereunder duly authorized
and the Participant has hereunto set his hand, all as of the day and year set forth below. 
  

	
	NATIONAL FINANCIAL PARTNERS CORP.
	
	/s/ Stancil E. Barton
	Name: Stancil E. Barton
	Title: Executive Vice President, General Counsel

 The undersigned hereby acknowledges having read this Agreement and hereby agrees to be bound by all provisions set
forth herein. 
  

	
	DONNA J. BLANK
	
	/s/ Donna J. Blank

 Dated as of: 4/17/09 
  

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 EXHIBIT A 
 NATIONAL FINANCIAL PARTNERS CORP. 
 NOTICE OF GRANT OF RESTRICTED STOCK UNITS 
 PURSUANT TO THE 
 EMPLOYMENT
INDUCEMENT RESTRICTED STOCK UNIT AGREEMENT 
 This Notice is to certify that you, Donna J. Blank (the “Participant”), have been
granted the number of Restricted Stock Units set forth below under the terms and conditions set forth in this Notice as part of an inducement for employment in accordance with New York Stock Exchange Rule 303A.08 pursuant to the letter agreement by
and between National Financial Partners Corp. (the “Company”) and the Participant dated August 4, 2008 regarding the terms of the Participant’s employment with the Company. 
 This Notice is subject to and incorporates by reference the terms and conditions of the Employment Inducement Restricted Stock Unit Agreement (the
“Agreement”), two copies of which are enclosed. Please refer to the Agreement for an explanation of the terms and conditions of this grant and a full description of your rights and obligations. You must sign the Agreement in order for this
Notice and grant to be effective. Please sign and date both copies of the Agreement on the last page, returning one to Malika Hinkson and retaining the other for your records. 
  

			
	 Name of Participant:
	  	Donna J. Blank
		
	 Number of Restricted Stock Units:
	  	25,775
		
	 Grant Date:
	  	September 1, 2008
		
	 Vesting Schedule:
	  	Subject to Participant’s continuous Employment as defined in the Agreement and subject to accelerated vesting in certain circumstances, one-third of this Restricted Stock Unit Grant
shall vest on each of the first three yearly anniversaries of the Grant Date.
		
	 Additional Terms:
	  	See the Restricted Stock Unit Agreement.

 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS 
 COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933 
  

 9Letter Agreement, dated February 13, 2009

 Exhibit 10.2 
 October 31, 2008 
 Revised February 13, 2009 
 Mr. Mark Biderman 
 Re: Separation Agreement and General Release 
 Dear Mark: 
 This will confirm the agreement (the “Agreement”) that has been reached with you in connection with
your separation of employment from National Financial Partners Corp. (the “Company”). 
  

	 1.
	 (a) You hereby confirm that your last day of active employment with the Company was December 31, 2008
(“Separation Date”). During the period from the presentation date of this Agreement through the Separation Date (the “Transition Period”), you were employed by the Company as a full-time “at-will” employee. You have
forty-five (45) days following the date hereof to accept or reject the terms of this Agreement or, at your sole discretion, an earlier date following your receipt of this Agreement (either such date the “Acceptance Date”). You shall
have a period of seven (7) days following the Acceptance Date to revoke this Agreement by delivering (by hand or overnight courier) written notice of revocation to National Financial Partners Corp., 340 Madison Avenue, 19th Floor, New York, New York 10173 (Attention: Stancil Barton, Esq.), and this Agreement shall not be effective or enforceable prior to the expiration of that
period (the “Revocation Period”). If you choose not to execute this Agreement on or before the Acceptance Date or if you revoke it during the Revocation Period, then (a) the payments set forth in Section 2 below will not be made
and (b) your employment with the Company will be deemed terminated effective as of the Separation Date. 

 (b)
Beginning January 1, 2009, you shall not hold yourself out as an employee of the Company, nor shall you be authorized to bind or speak on behalf of the Company. Additionally, you hereby confirm your resignations from all of your positions as an
officer or director of the Company, or any of its subsidiaries and affiliates, effective as of your Separation Date, including your position as Executive Vice President and Vice Chairman of the Company, and agree that you shall take such further
actions as may be necessary or desirable to effectuate the foregoing. 
  

	2.	Provided that you (a) execute this Agreement on or before the Acceptance Date and you do not revoke it during the Revocation Period, and (b) comply with the terms of this
Agreement, including but not limited to the post-employment restrictions set forth in Sections 6, 8(a), and 13 hereof, in consideration of your obligations set forth in this Agreement, including but not limited to, your consent to the General
Release set forth in Section 9 below, the Company and you have agreed as follows: 

 (a) The Company agrees to pay you
severance (the “Severance Payment”) in the amount of Nine Hundred and Twenty Five Thousand Dollars ($925,000) (gross), less all applicable federal, state and local withholding taxes and deductions, payable, which amount shall be paid in a
lump sum on or before (i) March 15, 2009 or (ii) ten (10) business days following the expiration of the Revocation Period, whichever is later. The Company also agrees to reimburse you for your reasonable legal fees incurred in
connection with the negotiation of this Agreement in an amount not to exceed Fifteen Thousand Dollars ($15,000). 
 (b) With respect to any
vested or unvested options to purchase shares of the Company’s common stock (the “Options”), which may have been granted to you pursuant to any plan or program of the Company, including but not limited to the National Financial
Partners Corp. Amended and Restated 1998 Stock Incentive Plan (the “1998 Plan”) or the National Financial Partners Corp. Amended and Restated 2000 Stock Incentive Plan (the “2000 Plan”), as applicable, you hereby acknowledge and
agree that any Options not exercised by you prior to the end of the Post-Termination Exercise 

 Mr. Mark Biderman 
 Page - 2
– 
 Periods (as defined therein) have been forfeited. With respect to the restricted stock units (the “RSUs”) granted to you
during the course of your employment with Company pursuant to the National Financial Partners Corp. Amended and Restated 2002 Stock Incentive Plan, such RSUs continued to vest up to and until your Separation Date, subject to the terms and conditions
of such plan, and you hereby acknowledge and agree that any and all unvested RSUs as of your Separation Date have been forfeited. 
  

	3.	Whether or not you sign this Agreement, you will be paid for any unused paid time off that has accrued as of your Separation Date. 

  

	4.	In the event that you elect to receive continuation of coverage in the Company’s medical, dental, vision and/or health care flexible spending account plans pursuant to the
provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), continuation of coverage shall in all respects be subject to the requirements, conditions and limitations of COBRA and the Company’s plans, which may
be amended from time to time, and shall be at your own expense, provided, however, that the Company, at its sole discretion, may elect to subsidize some or all of the employer portion of the COBRA payments. Should you not exercise your right to
receive continuation of coverage under COBRA within the timeframe, procedures and format required under COBRA, coverage in the Company’s medical, dental, vision and/or health care flexible spending account plans shall terminate effective on the
last day of the month during which the Separation Date occurs. 

  

	5.	You acknowledge that the payments described in Section 2 above are in lieu of and in full satisfaction of any amounts that might otherwise be payable under any contract, plan,
policy or practice, past or present, of the Company, and any of its subsidiaries or affiliates. Except as expressly set forth in Section 4 above, you shall not be eligible to participate or continue to participate in any employee benefit plans
or compensation arrangements of the Company, or any of subsidiaries or affiliates, subsequent to your Separation Date. 

  

	6.	You agree that in the course of your employment with the Company you have had access to confidential and proprietary information (“Confidential Information”) relating to
the Company, its subsidiaries and affiliates, and their respective businesses, clients, finances, operations, strategic or other plans, employees, trade practices, trade secrets, know how or other matters that are not publicly known outside the
Company, which are integral to the operations and success of the Company, and that such Confidential Information has been disclosed to you in confidence and only for the use of the Company. You understand and agree that (a) you will keep such
Confidential Information confidential at all times after your employment with the Company, (b) you will not make use of such Confidential Information on your own behalf, or on behalf of any third party, and (c) you have returned or will
return to the Company any and all copies, duplicates, reproduction or excerpts of such Confidential Information within your possession, custody or control. You further agree to keep the terms of this Agreement confidential and not to disclose the
Agreement or the terms thereof to any person, except (a) to your immediate family and as may be required for obtaining legal or tax advice; (b) for the filing of income tax returns or required financial disclosures; or (c) as may be
required by law or in any proceeding to enforce this Agreement. In the case of any disclosure to immediate family or a legal or tax advisor, you shall require any person receiving such information to maintain its confidentiality.

  

	7.	All documents (electronic, paper or otherwise), records (electronic, paper or otherwise), materials, software, equipment, and other physical property, and all copies of the
foregoing, whether or not otherwise containing Confidential Information, that have come into your possession or been produced by you in connection with your employment (“Property”), have been and remain the sole property of the Company or
its subsidiaries or affiliates, as applicable. You agree that you have returned all such Property to the Company (or, to the extent that you have not, that you immediately will do so). 

  

	8.	 (a) You agree not to take any action or to make any statement, written or oral, that disparages or criticizes the business or management of the Company or any of
its subsidiaries or affiliates, or any of their respective directors, officers, agents, or employees. You further agree not to take any action that is intended to, or that does in fact, damage the business or reputation of the Company or any of its
subsidiaries or affiliates, or the personal or business reputations of any of their respective directors, 

 Mr. Mark Biderman 
 Page - 3
– 
  

	 	officers, agents, or employees, or that interferes with, impairs or disrupts the normal operations of the Company or any of its subsidiaries or affiliates. 

(b) The Company agrees that it will not knowingly permit its senior officers or directors to make or knowingly cause to be made, any statement or
communication, written or oral, that disparages, damages or otherwise impugns you or your reputation. 
  

	9.	You, your heirs, successors, and assigns, hereby knowingly and voluntarily remise, release and forever discharge the Company and its subsidiaries and affiliates, together with all
of their respective current and former officers, directors, partners, shareholders, principals, employees, agents, and each of their predecessors, successors and assigns, and any and all employee pension or welfare benefits plans of the Company,
including current and former trustees and administrators of these plans (collectively, the “Releasees”), from any and all debts, demands, actions, causes of actions, accounts, covenants, contracts, agreements, claims, damages, omissions,
promises, and any and all claims and liabilities whatsoever, of every name and nature, known or unknown, suspected or unsuspected, both in law and equity (“Claims”), which you ever had, now have, or may hereafter claim to have against the
Releasees by reason of any matter, cause or thing whatsoever arising from the beginning of time to the time you sign this Agreement (the “General Release”). This General Release of Claims shall apply to any Claim of any type, including,
without limitation, any and all Claims of any type that you may have arising under the common law, under the federal Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964,
the Civil Rights Act of 1991, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, and the Family Medical Leave Act of 1993, the Sarbanes-Oxley Act of 2002, the Equal Pay Act, the Rehabilitation Act of
1973, Section 1981 of the Civil Rights Act of 1866, the National Labor Relations Act, , the Worker Adjustment Retraining and Notification (“WARN”) Act and any state WARN statutes (such as N.J. Stat. Ann. § 34:21-1 et seq. and
N.Y. Lab. Law § 860-a et seq.), the New York Labor Law, the New York Executive Law, the New York City Administrative Code, and the New York State and City Human Rights laws, each as amended, and any other federal, state or local statutes,
regulations, ordinances or common law, or under any policy, agreement, contract, understanding or promise, written or oral, formal or informal, between any of the Releasees and you, and shall further apply, without limitation, to any and all Claims
in connection with, related to or arising out of your employment, or the termination of your employment, with the Company, and all Claims for alleged tortious, defamatory or fraudulent conduct; provided, however, that nothing contained in this
Agreement shall (a) impair any vested benefits you may have in the National Financial Partners Corp. 401(k) Plan as of your Separation Date or (b) be construed to prohibit you from bringing appropriate proceedings to enforce this
Agreement. By signing this General Release, you represent that you will not be entitled to any personal recovery in any action or proceeding that may be commenced on your behalf arising out of the matters released hereby. 

 

	10.	You hereby represent and warrant that you are not aware of any illegal or unlawful actions or omissions by any current or former officer, director, employee, agent, attorney,
consultant or representative of the Company (including yourself) through the date of the execution of this Agreement that were (individually or collectively) in any way knowingly or intentionally harmful or detrimental to the Company, its business
and/or its shareholders, including, without limitation, violations of any laws, regulations or accounting policies or principles, the taking of unreasonable tax positions, or the furnishing of inaccurate statements, invoices or other reports to any
person or entity. 

  

	11.	 You agree to cooperate fully with the Company and its subsidiaries and affiliates concerning reasonable requests for information about the business of the Company
or its subsidiaries or affiliates or your involvement and participation therein; the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company or its subsidiaries or
affiliates which relate to events or occurrences that transpired while you were employed by the Company; and in connection with any investigation or review by any federal, state or local regulatory, quasi-regulatory or self-governing authority
(including, without limitation, the Securities and Exchange Commission) as any such investigation or review relates to events or occurrences that transpired while you were employed by the Company. Your full cooperation shall include, but not be
limited to, being available to meet and speak with officers or employees of the Company and/or its counsel at 

 Mr. Mark Biderman 
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	 	reasonable times and locations, executing accurate and truthful documents and taking such other actions as may reasonably be requested by the Company and/or its counsel to
effectuate the foregoing. In requesting such services, the Company will consider other commitments that you may have at the time of the request. The Company agrees to reimburse you for any reasonable, out-of-pocket travel, hotel and meal expenses
incurred in connection with your performance of obligations pursuant to this Section for which you have obtained prior, written approval from the Company. 

  

	12.	Nothing in this Agreement is intended to or shall preclude you from providing truthful testimony in response to a valid subpoena, court order, regulatory request or other judicial,
administrative or legal process or otherwise as required by law, in which event you shall notify the Company in writing as promptly as practicable after receiving any such request of the anticipated testimony and at least ten (10) days prior to
providing such testimony (or, if such notice is not possible under the circumstances, with as much prior notice as is possible). 

  

	13.	You agree that, for a period of twelve (12) months following the Separation Date (the “Restrictive Period”): 

  

	 	(a)	You shall not, directly or indirectly, on your own behalf or on behalf of any other person or entity, solicit or hire or attempt to solicit or hire, or assist any other person in
soliciting or hiring any employee, agent or contractor of the Company’s Affiliated Group (as defined below) or induce any employee, agent or contractor of the Company’s Affiliated Group to terminate his or her employment or cease doing
business with the Company’s Affiliated Group for any reason whatsoever. Nothing in the foregoing shall be deemed to prohibit you or any other person or entity from hiring any employee, agent or contractor of the Company’s Affiliated Group
who responds to a solicitation of a general nature not directed to such employee, agent, or contractor; nor shall the foregoing be deemed to prohibit any other person or entity with which you may become affiliated from soliciting or hiring any
employee, agent or contractor of the Company’s Affiliated Group provided that you have no direct or indirect involvement in such solicitation or hiring. As used herein, the “Company’s Affiliated Group” shall mean the Company and
all corporations, partnerships or other legal entities which, directly or indirectly, are controlled by, or under common control with the Company. 

  

	 	(b)	You agree that the covenants set forth in this Section 13 are reasonable with respect to duration and scope. If, however, at the time of enforcement of this Section 13, a
court holds that the restrictions stated herein are unreasonable under the circumstances then existing, the parties hereto agree that the maximum period or scope legally permissible under such circumstances will be substituted for the period or
scope stated herein. 

  

	 	(c)	You further agree that it is impossible to measure in money the damages which will accrue to the Company in the event you breach the covenants set forth in this Section 13.
Therefore, if the Company shall institute any action or proceeding to enforce the provisions hereof, you shall agree to waive the claim or defense that the Company has an adequate remedy at law and you shall agree not to assert in any such action or
proceeding the claim or defense that the Company has an adequate remedy at law. The foregoing shall not prejudice the Company’s right to require you to account for and pay over to the Company any profit obtained by you as a result of any
transaction constituting a breach of the covenants set forth in this Section 13. 

  

	14.	In the event you breach Section 6, 8(a) or 13 hereof, the Company will incur damages, the amount of which will be difficult or impossible to ascertain, and any damages at law
awarded to the Company will be an insufficient remedy to the Company. Therefore, the Company will be entitled to elect to recover as liquidated damages, and not as a penalty, the total amount of the payments provided to you hereunder in the event
you breach Section 6, 8(a) or 13 hereof. The foregoing remedies will be cumulative and not exclusive remedies for any breach of Section 6, 8(a) or 13 hereof. 

  

	15.	 The Company advises you to consult with an attorney of your choosing prior to signing this Agreement. You understand and agree that you have the right and have been
given the opportunity to review this Agreement and, specifically, the General Release in Section 9 above, with an attorney. You also 

 Mr. Mark Biderman 
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	 	understand and agree that the Company is under no obligation to offer you the payments and other terms set forth in Section 2 above and that you are under no obligation to
consent to the General Release. You acknowledge and agree that the payments and other terms offered by the Company and set forth in Section 2 above are sufficient consideration to require you to abide with your obligations under this Agreement,
including but not limited to the General Release. You represent that you have read this Agreement, including the General Release, and understand its terms and that you enter into this Agreement freely, voluntarily, and without coercion.

  

	16.	It is the desire and intent of the parties that the provisions of this Agreement shall be enforced to the fullest extent permissible under the laws and public policies applied in
each jurisdiction in which enforcement is sought. In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively broad as to duration, scope, activity or subject, such provisions shall be construed by
limiting or reducing them so as to be enforceable to the maximum extent compatible with applicable law. 

  

	17.	No waiver by either party of any breach by the other party of any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of any other
provision or condition at the time or at any prior or subsequent time. This Agreement and the provisions contained in it shall not be construed or interpreted for or against either party because that party drafted or caused that party’s legal
representative to draft any of its provisions. 

  

	18.	The terms described in this Agreement sets forth the entire agreement and understanding of the parties and supersedes all prior agreements, arrangements and understandings, written
or oral, between the parties. You acknowledge and agree that you are not relying on any representations or promises by any representative of the Company concerning the meaning or any aspect of this Agreement. This Agreement may not be altered or
modified other than in writing signed by you and an authorized representative of the Company, and shall be governed by and construed and enforced in accordance with the laws of the State of New York, without reference to its choice of law rules. The
Company’s offer to you of this Agreement is not intended to, and shall not be construed as, any admission of liability or of any improper conduct on the part of the Company or any of the Releasees, all of which the Company specifically denies.

  

	19.	You acknowledge that the Company has attached to this Agreement as Exhibit A, in accordance with the Older Workers Benefit Protection Act, 29 U.S.C. Section 626(f)(1)(H), as
amended, information concerning (a) the ages and job titles of all employees who have been selected for inclusion in the reduction in force as of the date specified therein and (b) the ages and job titles of all employees who have not been
selected for inclusion in the reduction in force as of the date specified therein. 

  

	20.	 It is intended that the provisions of this Agreement comply with, or be exempt from, Section 409A of Internal Revenue Code of 1986 (as amended) and the
regulations and guidance promulgated thereunder (collectively “Code Section 409A”). A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any
amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement,
references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” It is the intention of the parties that the separation contemplated under this Agreement constitutes a
“separation from service” within the meaning of Code Section 409A. However, the Company makes no representations or warranties with respect to the tax consequences of the Severance Payment described in Section 2 or any other
consideration provided to you or made on your behalf under the terms of this Agreement. You agree and understand that you are responsible for payment, if any, of local, state, and/or federal taxes on the Severance Payment and any other consideration
provided hereunder by the Company and any penalties or assessments thereon. You further agree to indemnify and hold the Company harmless from any claims, demands, deficiencies, penalties, interest, assessments, executions, judgments, or recoveries
by any government agency against the Company for any amounts claimed due on account of (a) your failure to pay or your delayed 

 Mr. Mark Biderman 
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	 	payment of, federal or state taxes, or (b) damages sustained by the Company by reason of any such claims, including reasonable attorneys fees and costs.

  

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

 If the above sets forth our agreement as you understand it and consent to it, please so signify by executing the enclosed copy of this
letter and return it to me at the address listed above. 
  

	
	 Sincerely,
 National Financial Partners
Corp.

	
	/s/    Stancil Barton
	 By:    Stancil Barton
 Title: EVP,
General Counsel

 IN WITNESS WHEREOF, Mark Biderman,
intending to be legally bound hereby, and for full consideration, has executed this Agreement this 13th day of February 2009. 
  

			
		
	By:	 	/s/    Mark Biderman
		 	Mark Biderman

 Mr. Mark Biderman 
 Page - 7
– 
 Exhibit A 
 [Intentionally Omitted]

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