Document:

Exhibit 10.5

 

EXECUTIVE AGREEMENT dated

August 19, 2004 (the “Effective
Date”) between

THE ROUSE COMPANY

(together
with its subsidiaries and affiliates, the “Company”)

and Alton J.
Scavo (the “Executive”)

 

The Company and
the Executive agree as follows:

 

SECTION
1.  Definitions. 
As used in this Agreement:

 

(a)                                  “Accrued
Obligations” means the sum of the amounts described in Section 6(a)(i)(A) and clause (2) of Section 6(a)(ii).

 

(b)                                 “Annual
Base Salary” means the Executive’s salary at a rate not less than the
Executive’s annualized salary in effect (i) immediately prior to the Operative
Date, (ii) on the date that is six months prior to the Operative Date or (iii)
as of any date after the Operative Date (whichever date results in the highest
salary).

 

(c)                                  “Annual
Bonus” in any year means an amount that is not less than annual cash bonus
that would be paid to the Executive with respect to such year assuming that the
Executive and the Company satisfied all applicable performance at the “target,”
“satisfactory,” “acceptable” or other similar level.

 

(d)                                 “Board”
means the Board of Directors of the Company.

 

(e)                                  “Cause”
means (i) the willful and continued failure of the Executive to perform
substantially the Executive’s duties owed to the Company after a written demand
for substantial performance is delivered to the Executive which specifically
identifies the nature of such non-performance (other than any such failure
resulting from the Executive’s incapacity due to physical or mental illness or
any such actual or anticipated failure after the issuance of a Notice of
Termination by the Executive for Good Reason pursuant to Section 5(d)), (ii)
willful gross misconduct by the Executive that is significantly and
demonstrably injurious to the Company, or (iii) the Executive in the course of
his or her employment (x) is convicted of a felony or (y) willfully engages in
a fraud that results in material harm to the Company.  No act or omission on the part of the
Executive shall be considered “willful” unless it is done or omitted in bad
faith or without reasonable belief that the action or omission was in the best
interests of the Company.  For purposes
of this Section 1(e), any act or failure to act based upon authority given
pursuant to a resolution duly adopted by the Board or upon the instructions of
the Board, the Company’s Chief Executive Officer or other executive officer of
the Company, or based upon the advice of counsel for the Company shall be
conclusively presumed to be done, or omitted to be done, by the Executive in
good faith and in the best interests of the Company.  Notwithstanding the foregoing, the Executive
shall not be deemed to have been terminated for Cause without (1) reasonable
notice to the Executive setting forth the

 

 

reasons for the Company’s intention to terminate for
Cause, (2) an opportunity for the Executive, together with his or her counsel,
to be heard before the Board, and (3) delivery to the Executive of a Notice of
Termination from the Board finding that in the good faith opinion of three-quarters
(3/4) of the Board the Executive was guilty of conduct set forth in clause (i),
(ii) or (iii) above and specifying the particulars thereof in detail.

 

(f)                                    A
“Change in Control” shall mean the occurrence of any of the following
after the Effective Date:

 

(a)                                  An
acquisition (other than directly from the Company) of any voting securities of
the Company (the “Voting Securities”) by any “Person” (as the
term “person” is used for purposes of Section 13(d) or 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)), immediately
after which such Person has “Beneficial Ownership” (within the meaning
of Rule 13d-3 promulgated under the Exchange Act) of more than twenty percent
(20%) of (1) the then-outstanding Common Shares (or any other securities into
which the Common Shares are changed or for which the Common Shares are
exchanged) or (2) the combined voting power of the Company’s then-outstanding
Voting Securities, in either case unless such acquisition is expressly approved
by resolution of the Board (x) adopted at a meeting of the Board held not later
than the date of the next regularly scheduled or special meeting held following
the date that the Company obtains actual knowledge of such acquisition or
threatened acquisition and (y) passed upon affirmative vote of not less than a
majority of the Board present at such meeting (which approval may be limited in
purpose and effect solely to affecting the rights of the Executive under this
Agreement); provided, however, that in determining whether a
Change in Control has occurred pursuant to this paragraph (a), the acquisition
of Common Shares or Voting Securities in a Non-Control Acquisition (as
hereinafter defined) shall not constitute a Change in Control.  A “Non-Control Acquisition” shall mean
an acquisition by (i) an employee benefit plan (or a trust forming a part
thereof) maintained by (A) the Company or (B) any corporation or other Person
the majority of the voting power, voting equity securities or equity interest
of which is owned, directly or indirectly, by the Company (for purposes of this
definition, a “Related Entity”), (ii) the Company or any Related Entity,
or (iii) any Person in connection with a Non-Control Transaction (as
hereinafter defined);

 

(b)                                 The
individuals who, as of the Effective Date, are members of the board of
directors of the Company (the “Incumbent Board”), cease for any reason
to constitute at least a majority of the members of the board of directors of
the Company or, following a Merger (as hereinafter defined), the board of
directors of (x) the corporation resulting from such Merger (the “Surviving
Corporation”), if fifty percent (50%) or more of the combined voting power
of the then-outstanding voting securities of the Surviving Corporation is not
Beneficially Owned, directly or indirectly, by another Person (a “Parent
Corporation”) or (y) if there is one or more than one Parent
Corporation, the ultimate Parent Corporation; provided, however,
that, if the election, or nomination for

 

2

 

election by the Company’s
common stockholders, of any new director was approved by a vote of at least
two-thirds of the Incumbent Board, such new director shall, for purposes of the
Plan, be considered a member of the Incumbent Board; and provided, further,
however, that no individual shall be considered a member of the
Incumbent Board if such individual initially assumed office as a result of an
actual or threatened solicitation of proxies or consents by or on behalf of a
Person other than the board of directors of the Company (a “Proxy Contest”),
including by reason of any agreement intended to avoid or settle any Proxy
Contest; or

 

(c)                                  The
consummation of a merger, consolidation or reorganization (1) with or into
the Company or (2) in which securities of the Company are issued (a “Merger”),
unless such Merger is a Non-Control Transaction.  A “Non-Control Transaction” shall mean
a Merger in which:

 

(A)                              the
stockholders of the Company immediately before such Merger own directly or
indirectly immediately following such Merger at least eighty percent (80%) of
the combined voting power of the outstanding voting securities of (x) the
Surviving Corporation, if there is no Parent Corporation or (y) if there is one
or more than one Parent Corporation, the ultimate Parent Corporation; and

 

(B)                                the
individuals who were members of the Incumbent Board immediately prior to the
execution of the agreement providing for such Merger constitute at least a
majority of the members of the board of directors of (x) the Surviving
Corporation, if there is no Parent Corporation, or (y) if there is one or more
than one Parent Corporation, the ultimate Parent Corporation; or

 

(d)                                 the shareholders of the Company approve (a) the sale or
disposition by the Company (other than to a subsidiary of the Company) of all
or substantially all of the assets of the Company, or (b) a complete
liquidation or dissolution of the Company.

 

If (i) the
Executive’s employment is terminated by the Company without Cause prior to the
date of a Change in Control or (ii) an action is taken with respect to the
Executive prior to the date of a Change in Control that would constitute Good
Reason if taken after a Change in Control, and the Executive reasonably
demonstrates that such termination or action (A) was at the request of a third
party that has indicated an intention or taken steps reasonably calculated to
effect a Change in Control or (B) otherwise arose in connection with, or in
anticipation of, a Change in Control that has been threatened or proposed, such
termination or action shall be deemed to have occurred after such Change in
Control for purposes of this Agreement, so long as such Change in Control
actually occurs.

 

(g)                                 “Common
Shares” means the Common Stock of the Company.

 

3

 

(h)                                 “Date
of Termination” means: (i) if the Executive’s employment is terminated by
the Company for Cause or by the Executive for Good Reason, the date of receipt
of the Notice of Termination or any later date specified therein, (ii) if the
Executive’s employment is terminated by the Company other than for Cause or
Incapacity, the Date of Termination shall be the date on which the Company
notifies the Executive of such termination, and (iii) if the Executive’s
employment is terminated by reason of death or Incapacity, the Date of
Termination shall be the date of death of the Executive or the Incapacity
Effective Date, as the case may be.

 

(i)                                     “Dependents”,
as of any date, means the members of the Executive’s family who under the most
liberal eligibility rules (as in effect on a date that is six months prior to
the Operative Date) of the plans or programs of the Company (or any successor)
which provide medical benefits, would, be eligible for benefits under such
plans or programs on such date.

 

(j)                                     “Deering
Retention Agreement” means that certain agreement between the Company and
Anthony W. Deering dated September 24, 1998, as amended July 12, 1999 and March
31, 2003 and as the same may be further amended.

 

(k)                                  “Good
Reason” means any failure by the Company to comply with any of the
provisions of this Agreement, other than an isolated, insubstantial and
inadvertent failure not occurring in bad faith and which is remedied by the
Company promptly after receipt of notice thereof from the Executive.

 

(l)                                     “Incapacity”
means, and shall be deemed the reason for the termination by the Company of the
Executive’s employment, if, as a result of the Executive’s incapacity due to
physical or mental illness, (i) the Executive shall have been absent from the
full-time performance of the Executive’s duties with the company for a period
of six (6) consecutive months, (ii) the Company gives the Executive a Notice of
Termination for Incapacity, and (iii) the Executive does not return to the
full-time performance of the Executive’s duties within thirty (30) days after
such Notice of Termination is given.

 

(m)                               “Incapacity
Effective Date” means the date on which the period described in Section 1(l)(iii) expires.

 

(n)                                 “Multiple”
means 3.

 

(o)                                 “Notice
of Termination” means a written notice which (i) to the extent applicable,
indicates the specific termination provision in this Agreement relied upon,
(ii) to the extent applicable, sets forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Executive’s
employment under such provision, (iii) in the case of termination by the
Company for Cause, confirms that such termination is pursuant to a resolution
of the Board, and (iv) if the Date of Termination is

 

4

 

other than the date of receipt of
such notice, specifies the termination date (which date shall be not more than
30 calendar days after the giving of such notice).

 

(p)                                 “Operative
Date” means the date on which a Change in Control shall have occurred.

 

(q)                                 “Other
Benefits” means any other amounts or benefits required to be paid or
provided or which the Executive is eligible to receive under any plan, program,
policy or practice or contract or agreement of the Company, including earned
but unpaid and stock and similar compensation, that is in effect on the date
that is six months prior to the Operative Date.

 

(r)                                    “Savings
Plan (Excess)” means The Rouse Company Excess Savings Plan as it now exists
or may hereafter be amended prior to the date that is six months prior to the
Operative Date.

 

(s)                                  “Term”
means the term of this Agreement which shall begin as of the Effective Date and
shall continue to and remain in effect until the fourth anniversary of the
Effective Date (and any further extensions pursuant to Section 2) or, if later,
three years following an Operative Date occurring prior to the later of (i) the
fourth anniversary of the Effective Date, or (ii) such later date to which this
Agreement has been extended pursuant to Section 2.

 

SECTION
2.  Extension of this Agreement.  If no Operative Date shall have occurred on
or before the 365th calendar day preceding the date on which the Term is then
scheduled to expire, then the Term shall automatically be extended for one year
unless either party shall have given the other party written notice of its
election not to extend the Term; provided, that an election by the
Company not to extend the Term shall be void ab  initio if, at the
time of such election, the Company is a party to an agreement providing for a
transaction or transactions that, if consummated, would constitute a Change in
Control.

 

SECTION
3.  Terms of
Employment prior to Operative Date. 
Except as set forth in Section 12, prior to the Operative Date, the
terms and conditions of the Executive’s employment, including the Executive’s
rights upon termination of the Executive’s employment, shall be the same as
they would have been had this Agreement not been entered into by the Executive
and the Company.

 

SECTION
4.  Terms of Employment on and after Operative Date.

 

(a)                                  Position
and Duties.  (i)  On and after the Operative Date and during
the Term of this Agreement, (A) the Executive’s position (including, without
limitation, status, offices, titles, authority, duties and responsibilities)
shall be at least commensurate in all material respects with the most
significant of those held, exercised and assigned

 

5

 

immediately prior to the Operative Date and (B) the
Executive’s primary work location after the Operative Date shall not be changed
from his or her primary work location immediately prior to the Operative Date,
and the Company shall not require the Executive to travel on Company business
to a substantially greater extent than required on the date that is six months
prior to the Operative Date, except for travel and temporary assignments which
are reasonably required for the full discharge of the Executive’s
responsibilities and which are consistent with the Executive’s being based at
his or her primary work location.

 

(ii)                                  On
and after the Operative Date and during the Term of this Agreement, but
excluding any periods of vacation and sick leave to which the Executive is
entitled, the Executive agrees to devote reasonable attention and time during
normal business hours to the business and affairs of the Company and, to the
extent necessary to discharge the responsibilities assigned to the Executive
hereunder, to use the Executive’s reasonable best efforts to perform faithfully
and efficiently such responsibilities.

 

(b)                                 Compensation.  (i)  Salary.  On and after the Operative Date and during
the Term of this Agreement, the Executive shall receive compensation at an
annual rate not less than his or her Annual Base Salary.

 

(ii)                                  Stock
Incentive, Savings and Other Retirement and Supplemental Retirement Plans.  On and after the Operative Date and during
the Term of this Agreement, the Executive will be entitled to participate in
all stock incentive, 401(k) savings, pension and other retirement and
supplemental retirement plans and programs that are generally available to
full-time officers or employees of the Company at levels that have not
materially decreased from the levels in effect on the date that is six months
prior to the Operative Date.

 

(iii)                               Welfare
Benefit Plans.  On and after the
Operative Date and during the Term of this Agreement, the Executive and any
persons who from time to time thereafter are his or her Dependents shall be
eligible to participate in and shall receive (or, in the case of life
insurance, shall be entitled to have the Executive’s beneficiary receive) all
benefits under welfare benefit plans and programs that are generally available
to full-time officers or employees of the Company at levels that have not
materially decreased from the levels in effect on the date that is six months
prior to the Operative Date.

 

(iv)                              Business
Expenses.  On and after the Operative
Date and during the Term of this Agreement, the Company shall, in accordance
with policies in effect with respect to the payment of such expenses
immediately prior to the Operative Date, pay or reimburse the Executive for all
reasonable out-of-pocket travel and other expenses incurred by the Executive in
performing services hereunder.  All such
expenses shall be accounted for in such reasonable detail as the Company may
require.

 

6

 

(v)                                 Vacations.  On and after the Operative Date and during
the Term of this Agreement, the Executive shall be entitled to periods of
vacation not less than those to which the Executive was entitled on the date
that is six months prior to the Operative Date.

 

(vi)                              Other
Benefits.  On and after the Operative
Date and during the Term of this Agreement, the Executive shall be entitled to
all Other Benefits not specifically provided for in subsections (i), (ii),
(iii), (iv) and (v) of this Section 4(b) that are generally available to
full-time officers or employees of the Company.

 

SECTION
5.  Termination of Employment.

 

(a)                                  Death
or Incapacity.  The Executive’s
employment shall terminate automatically upon the Executive’s death.  On and after the Operative Date, the
Executive’s employment shall also terminate automatically on his or her
Incapacity Effective Date during the Term of this Agreement.

 

(b)                                 Company
Termination.  After the Operative
Date, the Company may terminate the Executive’s employment for any reason,
subject to the provisions of this Agreement establishing obligations of the
Company that arise with respect to certain terminations.

 

(c)                                  Executive
Termination.  After the Operative
Date, the Executive may terminate his or her employment for any reason.

 

(d)                                 Notice
of Termination.  On and after the
Operative Date and during the Term of this Agreement, any termination by the
Company for Cause or Incapacity, or by the Executive for Good Reason, shall be
communicated by Notice of Termination to the other party hereto given in
accordance with Section 15.  The failure
by the Executive or the Company to set forth in the Notice of Termination any
fact or circumstance which contributes to a showing of Good Reason, Incapacity
or Cause shall not serve to waive any right of the Executive or the Company,
respectively, hereunder or preclude the Executive or the Company, respectively,
from asserting such fact or circumstance in enforcing the Executive’s or the
Company’s rights hereunder.

 

SECTION
6.  Obligations of the Company upon Termination on or after the
Operative Date.

 

(a)                                  Termination
for Good Reason or for Reasons other than for Cause, Death or Incapacity.  If, on or after the Operative Date and during
the Term of this Agreement, (x) the Company shall terminate the Executive’s
employment other than for Cause, death or Incapacity or (y) the Executive shall
terminate his or her employment for Good Reason, then:

 

7

 

(i)                                     the Company shall pay to the Executive in a lump sum in cash
within 30 calendar days after the Date of Termination the aggregate of the
following amounts:

 

(A)                              the
sum of (1) the Executive’s then Annual Base Salary through the Date of
Termination to the extent not already paid, plus (2) the product of (x) an
amount equal to his or her then Annual Bonus times (y) a fraction, the
numerator of which is the number of days in the current fiscal year through the
Date of Termination, and the denominator of which is 365 plus (3) any accrued
vacation pay to the extent not already paid;

 

(B)                                an amount equal to the product of (1) the Multiple times (2)
the sum of (x) the Executive’s then Annual Base Salary and (y) his or her then
Annual Bonus;

 

(ii)                                  the
Company shall contribute, within 30 calendar days after the Date of
Termination, under Section 3 of the Savings Plan (Excess) an amount equal to
the sum of (1) the Multiple times the maximum amount that could be contributed
by the Company under Section 3 of the Savings Plan (Excess) for a full calendar
year based on the Executive’s Compensation (as defined in The Rouse Company
Savings Plan) computed for the 12 months immediately preceding such Date of
Termination, and (2) one times such maximum amount multiplied by a fraction,
the numerator of which is the number of days transpired in the year of
termination prior to and including the Date of Termination and the denominator
of which is 365;

 

(iii)                               for
a number of years after the Executive’s Date of Termination equal to the
Multiple, or such longer period as may be provided by the terms of the
appropriate plan, program, practice or policy, the Company shall continue
benefits to the Executive and his or her Dependents at least equal to those
which would have been provided to them in accordance with the plans, programs,
practices and policies described in Section 4(b)(iii) if the Executive’s
employment had not been terminated or, if more favorable to the Executive and
his or her Dependents, as in effect generally at any time thereafter;

 

(iv)                              the
Executive and his or her Dependents shall continue to be eligible to
participate in and shall receive all benefits under any plan or program of the
Company providing medical benefits as are in effect on the date six months
prior to the Operative Date or under any plan or program of a successor to the
Company which provides medical benefits that are not less favorable to the Executive
and his or her Dependents than such plans or programs of the Company until the
date the Executive and his or her Dependents are all eligible for Medicare
benefits (by reason of attaining the minimum age for such benefits without
regard to whether an application has been made therefor); provided, however,
that (A) in no event will a Dependent be eligible for benefits as described in
this clause (iv) after the date he or she ceases to be a Dependent and (B) at

 

8

 

all times after the expiration of the period described
in clause (iii) above, the Executive shall pay for such coverage at the same
rate as is charged to other similarly situated individuals electing
continuation coverage under Section 4980B of the Internal Revenue Code of 1986,
as amended (the “Code”);

 

(v)                                 all
outstanding restricted shares and options granted to Executive to purchase
Common Shares under the incentive plans of the Company or under any other
option or equity incentive plan shall, to the extent not already vested,
immediately become fully vested and, in the case of options, shall remain
exercisable until the end of the original term of such option without regard to
Executive’s termination of employment;

 

(vi)                              the
Company will continue to pay any premiums due on any individual insurance
policies in effect on the life of the Executive for a number of years following
the Date of Termination equal to the Multiple, after which time the Company
shall distribute such policy to the Executive without requiring the Executive
to repay any premiums paid by the Company;

 

(vii)                           the
Company shall transfer any car made available to the Executive for his or her
use by the Company to the Executive for no consideration, provided that
the Executive pays any and all transfer taxes and agrees to be solely
responsible for insurance and the cost of insurance after the date of transfer;

 

(viii)                        the Executive shall be entitled to keep any computer and/or
software provided to the Executive by the Company for home or travel use for no
consideration;

 

(ix)                                the
Company, at no cost to the Executive, shall provide the Executive with
outplacement services at a firm selected by the Executive for the period
commencing on the Date of Termination and ending on the first to occur of (i)
the first anniversary of the Executive’s Date of Termination and (ii) the date
on which the Executive obtains full-time employment as an employee;

 

(x)                                   The
Company shall make immediate payment of any deferred compensation balances not
already paid to the Executive;

 

(xi)                                There
shall be immediate vesting of any outstanding equity- and performance-based
awards; and

 

(xii)                             to
the extent not already paid or provided, the Company shall timely pay or
provide to the Executive all Other Benefits to the extent accrued on the Date
of Termination and not specifically provided for in subsections (i) through
(xi) of this Section 6(a).

 

(b)                                 Death
or Incapacity.  If the Executive’s
employment is terminated on or after the Operative Date by reason of the Executive’s
death or Incapacity, the sole

 

9

 

payments and benefits to which the Executive or the
Executive’s legal representatives shall be entitled hereunder shall be (i)
timely payment of Accrued Obligations and (ii) provision by the Company of
death benefits or disability benefits for termination due to death or
Incapacity, respectively, in accordance with Sections 4(b)(iii)
and 6(a)(vi) as in effect at the Operative Date or, if more favorable to the
Executive, at the Executive’s Date of Termination.

 

(c)                                  Cause;
Other than for Good Reason.  If the
Executive’s employment shall be terminated on or after the Operative Date for
Cause, the sole payments and benefits to which the Executive shall be entitled
hereunder shall be (x) the Executive’s then Annual Base Salary through the Date
of Termination and (y) Other Benefits, but in each case only to the extent
unpaid as of the Date of Termination.  If
the Executive voluntarily terminates employment during the Term of this
Agreement, excluding a termination for Good Reason on or after the Operative
Date, the sole payments and benefits to which the Executive shall be entitled
hereunder shall be the timely payment of Accrued Obligations and Other
Benefits.

 

SECTION
7.  Non-exclusivity of Rights.  Nothing in this Agreement shall prevent or
limit the Executive’s continuing or future participation in any plan, program,
policy or practice provided by the Company and for which the Executive may
qualify, nor, subject to Section 17(c), shall anything herein limit or
otherwise affect such rights as the Executive may have under any contract or
agreement with the Company.  Amounts
which are vested benefits or which the Executive is otherwise entitled to
receive under any plan, policy, practice or program of, or any contract or
agreement with, the Company at or subsequent to the Date of Termination shall
be payable in accordance with such plan, policy, practice, program, contract or
agreement except as explicitly modified by this Agreement.

 

SECTION
8.  No Mitigation.  The Company agrees that, if the Executive’s
employment is terminated on or after the Operative Date and during the Term of
this Agreement for any reason, the Executive is not required to seek other
employment or to attempt in any way to reduce any amounts payable to the
Executive hereunder.  Further, the amount
of any payment or benefit provided hereunder on or after the Operative Date
shall not be reduced by any compensation earned by the Executive as the result
of employment with another employer, by retirement benefits, by offset against
any amount claimed to be owed by the Executive to the Company, or otherwise;
provided that, notwithstanding the foregoing, the Company shall have the right
to offset any amounts earned by the Executive in violation of Section 12
against any amounts otherwise due the Executive hereunder.

 

SECTION
9.  Resolution of Disputes.

 

(a)                                  Negotiation.  Subject to the rights of the Company pursuant
to Section 12(d), the parties shall attempt in good faith to resolve any
dispute arising out of or

 

10

 

relating to this Agreement
promptly by negotiations between the Executive and an executive officer of the
Company or member of the Board as may be designated by the Board who has
authority to settle the controversy.  Any
party may give the other party written notice of any dispute not resolved in
the normal course of business.  Within 10
days after the effective date of such notice, the Executive and an executive
officer of the Company shall meet at a mutually acceptable time and place
within the Baltimore-Washington metropolitan area, and thereafter as often as
they reasonably deem necessary, to exchange relevant information and to attempt
to resolve the dispute.  If the matter
has not been resolved within 30 days of the disputing party’s notice, or if the
parties fail to meet within 10 days, either party may initiate arbitration of
the controversy or claim as provided hereinafter.  If a negotiator intends to be accompanied at
a meeting by an attorney, the other negotiator shall be given at least three
business days notice of such intention and may also be accompanied by an
attorney.  All negotiations pursuant to
this Section 9(a) shall be treated as compromise and settlement negotiations
for the purposes of the federal and state rules of evidence and procedure.

 

(b)                                 Arbitration.  Subject to the rights of the Company pursuant
to Section 12(d), any dispute arising out of or relating to this Agreement or
the breach, termination or validity thereof, which has not been resolved by
nonbinding means as provided in Section 9(a) within 60 days of the initiation
of such procedure, shall be finally settled by arbitration conducted
expeditiously in accordance with the Center for Public Resources, Inc.  (“CPR”) Rules for
Non-Administered Arbitration of Business Disputes by three independent and
impartial arbitrators, of whom each party shall appoint one, provided
that if one party has requested the other to participate in a non-binding
procedure and the other has failed to participate, the requesting party may
initiate arbitration before the expiration of such period.  Any such party shall be appointed from the
CPR Panels of Neutrals.  The arbitration
shall be governed by the United States Arbitration Act and any judgment upon
the award decided upon the arbitrators may be entered by any court having
jurisdiction thereof.  The arbitrators
are not empowered to award damages in excess of compensatory damages and each
party hereby irrevocably waives any damages in excess of compensatory
damages.  Each party hereby acknowledges
that compensatory damages include (without limitation) any benefit or right of
indemnification given by another party to the other under this Agreement.

 

(c)                                  Expenses.  The Company shall promptly pay or reimburse
the Executive for all costs and expenses, including, without limitation, court
costs and attorneys fees, incurred by the Executive as a result of any claim,
action or proceeding (including, without limitation a claim action or
proceeding by the Executive against the Company) arising out of, or challenging
the validity or enforceability of, this Agreement or any provision hereof or
any other agreement or entitlement referred to herein.

 

SECTION
10.  Certain Additional Payments by the Company.  Subject only to the next following paragraph,
in the event that it shall be determined that any payment or

 

11

 

distribution by the Company to or for the benefit of
the Executive, whether paid or payable or distributed or distributable pursuant
to the terms of this Agreement or otherwise (a “Payment”), would be
subject to the excise tax imposed by Section 4999 of the Code (or any successor
provision of the Code) or any interest or penalties 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”), then the
Executive shall be entitled to receive an additional payment (an “Excise
Gross-Up Payment”) in an amount such that after payment by the Executive of
all taxes (including any interest or penalties imposed with respect to such
taxes), including any Excise Tax imposed upon the Excise Gross-Up Payment, the
Executive retains an amount of the Excise Gross-Up Payment equal to the Excise
Tax imposed upon the Payments.  Subject
to the provisions of this Section 10, all determinations required to be made
hereunder, including whether an Excise Gross-Up Payment is required and the amount
of such Excise Gross-Up Payment, shall be made by KPMG LLP or such other
nationally recognized accounting firm as may be designated by the Company (the “Accounting
Firm”) at the sole expense of the Company, which shall provide detailed
supporting calculations both to the Company and the Executive within 15
business days of the date of termination of the Executive’s employment under
this Agreement, if applicable, or such earlier time as is requested by the
Company.  If the Accounting Firm
determines that no Excise Tax is payable by the Executive, the Accounting Firm
shall furnish the Executive with an opinion that he or she has substantial
authority not to report any Excise Tax on his or her federal income tax
return.  Any determination by the
Accounting Firm shall be binding upon the Company and the Executive.  As a result of the uncertainty in the
application of Section 4999 of the Code (or any successor provision of the
Code) at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Excise Gross-Up Payments which will not have
been made by the Company should have been made (an “Underpayment”),
consistent with the calculations required to be made hereunder.  If the Company exhausts its remedies pursuant
hereto and the Executive thereafter is required to make a payment of any Excise
Tax, the Accounting Firm shall determine the amount of the Underpayment that
has occurred and any such Underpayment shall be promptly paid by the Company to
or for the benefit of the Executive.

 

Notwithstanding the immediately preceding paragraph,
in the event that a reduction to the Payments in respect of the Executive of
10% or less would cause no Excise Tax to be payable, the Executive will not be
entitled to a Gross-Up Payment and the Payments shall be reduced to the extent
necessary so that the Payments shall not be subject to the Excise Tax.  Unless the Executive shall have given prior
written notice to the Company specifying a different order by which to
effectuate the foregoing, the Company shall reduce or eliminate the Payments by
first reducing or eliminating the portion of the Payments which are not payable
in cash and then by reducing or eliminating cash payments, in each case in
reverse order beginning with payments or benefits which are to be paid the
farthest in time from the date of the Change in Control.  Any notice given by the Executive pursuant to
the preceding sentence shall take

 

12

 

precedence
over the provisions of any other plan, arrangement or agreement governing the
Executive’s rights and entitlements to any benefits or compensation.  An illustration of the reduction permitted by
this paragraph is set forth on Attachment A to this Agreement.

 

The Executive
shall notify the Company in writing of any claim by the Internal Revenue
Service that, if successful, would require the payment by the Company of the
Excise Gross-Up Payment.  Such
notification shall be given as soon as practicable but no later than 10
business days after the Executive knows of such claim and shall apprise the
Company of the nature of such claim and the date on which such claim is
requested to be paid.  The Executive
shall not pay such claim prior to the expiration of the 30-day period following
the date on which he or she gives such notice to the Company (or such shorter
period ending on the date that any payment of taxes with respect to such claim
is due).  If the Company notifies the
Executive in writing prior to the expiration of such period that it desires to
contest such claim, the Executive shall:

 

(i)                                     give
the Company any information reasonably requested by the Company relating to
such claim;

 

(ii)                                  take
such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including (without limitation)
accepting legal representation with respect to such claim by an attorney
reasonably selected by the Company;

 

(iii)                               cooperate with the Company in good faith to contest
effectively such claim; and

 

(iv)                              permit the Company to participate in any proceedings
relating to such claim;

 

provided
that the Company shall bear and pay directly all costs and expenses (including
additional interest and penalties) incurred in connection with such contest and
shall indemnify and hold the Executive harmless, on an after-tax basis, for any
Excise Tax or income tax, including interest and penalties with respect
thereto, imposed as a result of such representation and payment of costs and
expenses.  Without limitation on the
foregoing provisions hereof, the Company shall control all proceedings taken in
connection with such contest and, at its sole option, may pursue or forgo any
and all administrative appeals, proceedings, hearings and conferences with the
taxing authority in respect of such claim and may, at its sole option and to
the maximum extent permitted by applicable law, either direct the Executive to
pay the tax claimed and sue for a refund or contest the claim in any
permissible manner, and the Executive agrees to prosecute such contest to a
determination before any administrative tribunal, in a court of initial
jurisdiction and in one or more appellate courts as the Company shall
determine, provided that if the Company directs the Executive to pay
such claim and sue for a

 

13

 

refund, the Company shall
advance the amount of such payment to the Executive, on an interest-free basis
and shall indemnify and hold the Executive harmless, on an after-tax basis,
from any Excise Tax or income tax, including interest or penalties with respect
thereto, imposed with respect to such advance or with respect to any imputed
income with respect to such advance, and further  provided that
any extension of the statute of limitations relating to payment of taxes for
the taxable year of the Executive with respect to which such contested amount
is claimed to be due is limited solely to such contested amount.  Furthermore, the Company’s control of the
contest shall be limited to issues with respect to which an Excise Gross-Up
Payment would be payable hereunder, and the Executive shall be entitled to
settle or contest, as the case may be, any other issue raised by the Internal
Revenue Service or any other taxing authority.

 

If, after the
receipt by the Executive of an amount advanced by the Company pursuant hereto,
the Executive becomes entitled to receive any refund with respect to such
claim, the Executive shall (subject to the Company’s complying with the
requirements hereof) promptly pay to the Company the amount of such refund
(together with any interest paid or credited thereon after taxes applicable
thereto).  If, after the receipt by the
Executive of an amount advanced by the Company pursuant hereto, a determination
is made that the Executive shall not be entitled to any refund with respect to
such claim and the Company does not notify the Executive in writing of its
intent to contest such denial of refund prior to the expiration of 30 days
after such determination, then such advance shall be forgiven and shall not be
required to be repaid and the amount of such advance shall offset, to the
extent thereof, the amount of Excise Gross-Up Payment required to be paid.

 

SECTION
11.  Reduction of Payments and Benefits.  Notwithstanding any provision of this
Agreement to the contrary, in the event that the Total Executive Parachute
Payments (as hereinafter defined) exceed 2% of the Subject Amount (as
hereinafter defined), then the payments and benefits to be paid and provided to
the Executive hereunder shall be reduced to the Reduced Amount (as hereinafter
defined).  Unless the Executive shall
have given prior written notice to the Company specifying a different order by
which to effectuate such reduction, those payments and benefits that are not
payable in cash shall be reduced or eliminated first, and those payments and
benefits that are payable in cash shall be reduced or eliminated only after all
non-cash payments and benefits have been eliminated and, in each case payments
and benefits shall be reduced in reverse order beginning with those that are to
be paid the farthest in time from the date of the Change in Control.  Any notice given by the Executive pursuant to
the preceding sentence shall take precedence over the provisions of any other
plan, arrangement or agreement governing the Executive’s rights and
entitlements to any benefits or compensation. 
An illustration of the reduction permitted by this Section 11 is set
forth on Attachment B to this Agreement.

 

14

 

For purposes of
this Section 11, the following terms shall have the following meanings:

 

“Total
Executive Parachute Payments” means the total aggregate cash value of all
payments in the nature of compensation that are contingent on a change in
ownership or control of the Company (as determined under Treasury Regulation §
1.280G-1 or successor regulation thereto) to be paid or provided to Anthony W.
Deering pursuant to the Deering Retention Agreement and to all executives who
are parties to Executive Agreements with the Company that provide the same (or
substantially similar) payments and benefits as those payments and benefits to
be paid or provided pursuant to Section 6(a) (and, if applicable, Section 10)
of this Agreement (it being understood that the application of different
multiples or formulas in calculating substantially similar types of payments or
benefits shall not cause such payments or benefits not to be substantially
similar), determined immediately following the Change in Control and assuming
that Mr. Deering’s employment and all such Executives’ employment have been
terminated immediately following the Change in Control under circumstances that
entitle them to such payments and benefits.

 

“Reduced
Amount” means the product of (i) 2% of the Subject Amount times (ii) a
fraction, the numerator of which is the portion of the Total Executive
Parachute Payments allocable to the Executive and the denominator of which is
the Total Executive Parachute Payments.

 

“Subject
Amount” means the amount determined by multiplying (i) the total number of
outstanding Common Shares immediately prior to the Change in Control (assuming,
for this purpose, that all securities convertible into Common Shares have been
so converted, other than stock options and warrants as to which the per share
exercise price exceeds the last publicly available trading price of a Common
Share prior to the Change in Control (or, if higher, the per share cash value
of the consideration to be paid to holders of the Common Shares as a result of
the Change in Control)) times (ii) the last publicly available trading price of
a Common Share prior to the Change in Control (or, if higher, the per share
cash value of the consideration to be paid to holders of the Common Shares as a
result of the Change in Control); provided, that there shall be
subtracted therefrom the aggregate exercise price of all stock options and
warrants not so excluded.

 

SECTION
12.  Executive
Covenants.

 

(a)                                  Non-competition.  During the Non-Competition Period (as
hereinafter defined), the Executive shall not, except with the Company’s
permission (which may be withheld in the Company’s sole discretion) be, or be
connected in any manner with, a Competitor (as hereinafter defined) (whether
directly as an individual or in the capacity of a director, officer or employee
of, debt or equity investor in, or consultant or other

 

15

 

independent contractor
to, a Competitor, or indirectly through direct or indirect ownership, management,
operation or control of a person that is a Competitor); provided that in no event shall ownership of not more than 5% or
less of the outstanding equity securities of any issuer whose securities are
registered under the Exchange Act, standing alone, be prohibited by this
Section 12(a), so long as the Executive does not have, or exercise, any rights
to manage, operate or control the business of such issuer.  For purposes of this Section 12(a), a “Competitor” shall mean any person that is
engaged, directly or indirectly, in any business or activity which is
competitive with any activity or business in which the Company or any its
affiliates is engaged as of the Date of Termination (including, without
limitation, any business or activity which has, as a principal line of
business, broad scale long term community development (e.g., broad scale long
term community development/land sale projects like Columbia, Maryland and
Summerlin, Nevada) and/or the development, ownership or management of regional
retail shopping centers in the United States (specifically including, without
limitation, Simon Property Group, Inc., Westfield America Trust, The Taubman
Centers, Inc., General Growth Properties, Inc., The Macerich Company, CBL &
Associates Properties, Inc., Federal Realty Investment Trust, or any of their
subsidiaries or affiliates)).  For
purposes of this Agreement, the “Non-Competition Period” shall mean the period
beginning on the Effective Date and ending on the Date of Termination; provided,
however, that if the Executive’s employment is terminated following the
Effective Date by the Company for Cause or by the Executive other than for Good
Reason, the Non-Competition Period shall continue following the Date of
Termination for a period of 2 years.

 

(b)                                 Non-solicitation.  During
the Non-Competition Period, the Executive shall not, other than on behalf of
the Company or any of its affiliates or with the Company’s permission (which
may be withheld in the Company’s sole discretion), (1) contact, induce or solicit
(or assist any person to contact, induce or solicit) any person which has a
business relationship with the Company or any of its affiliates to terminate,
curtail or otherwise limit such business relationship, or (2) contact,
induce or solicit (or assist any person to contact, induce or solicit) for
employment (whether as an employee or consultant or other independent
contractor) any person who is, or within 12 months prior to the date of such
action was, an employee of the Company or any of its affiliates.

 

(c)                                  Cooperation. 
In the event of termination of the Executive’s employment, for whatever
reason (other than death), the Executive agrees for a period of 12 months
thereafter to cooperate with the Company and its affiliates and to be
reasonably available to the Company and its affiliates for a reasonable period
of time thereafter with respect to matters arising out of the Executive’s
employment by or any other relationship with the Company and its affiliates,
whether such matters are business-related or otherwise.  The Company shall reimburse the Executive for
all expenses reasonably incurred by the Executive during such period in
connection with such cooperation.

 

16

 

(d)                                 Remedies.  The Executive
agrees that any breach of the terms of this Section 12 would result in
irreparable injury and damage to the Company for which the Company would have
no adequate remedy at law; the Executive therefore also agrees that in the
event of said breach or any threat of breach, the Company shall be entitled to
an immediate injunction and restraining order to prevent such breach and/or
threatened breach and/or continued breach by the Executive and/or any and all
persons and/or entities acting for and/or with the Executive, without having to
prove damages, in addition to any other remedies to which the Company may be
entitled at law or in equity.  The terms
of this paragraph shall not prevent the Company from pursuing any other
available remedies for any breach or threatened breach hereof, including,
without limitation, the recovery of damages from the Executive.  The Executive and the Company further agree
that the provisions of the covenants contained in this Section 12 are
reasonable and necessary to protect the businesses of the Company and its
affiliates because of the Executive’s access to confidential information and
his or her material participation in the operation of such businesses.  Should a court or arbitrator determine,
however, that any provision of the covenants contained in this Section 12 is
not reasonable or valid, either in period of time, geographical area, or
otherwise, the parties hereto agree that such provision should be interpreted
and enforced to the maximum extent which such court or arbitrator deems reasonable
or valid.

 

The existence of
any claim or cause of action by the Executive against the Company or any of its
affiliates, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Company of the covenants
contained in this Section 12.

 

SECTION
13.  Successors; Binding Agreement.

 

(a)                                  The
Company will require any successor (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business
or assets of the Company, by agreement, in form and substance satisfactory to
the Executive, expressly to assume and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to
perform if no such succession had taken place. 
Failure of the Company to obtain such assumption and agreement prior to
the effectiveness of any such succession will be a breach of this Agreement and
entitle the Executive to compensation from the Company in the same amount and
on the same terms as the Executive would be entitled to hereunder had the
Company terminated the Executive for reason other than Cause or Incapacity on
the succession date.  As used in this
Agreement, the “Company” means the Company as defined in the preamble to this
Agreement and any successor to its business or assets which executes and
delivers the agreement provided for in this Section 13 or which otherwise
becomes bound by all the terms and provisions of this Agreement by operation of
law or otherwise.

 

17

 

(b)                                 This
Agreement shall be enforceable by the Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees.

 

SECTION
14.   Nonassignability. 
This Agreement is personal in nature and neither of the parties hereto
shall, without the consent of the other, assign or transfer this Agreement or
any rights or obligations hereunder, except as provided in Section 13.  Without limiting the foregoing, the Executive’s
right to receive payments hereunder shall not be assignable or transferable,
whether by pledge, creation of a security interest or otherwise, other than a
transfer by his or her will or by the laws of descent or distribution and, in
the event of any attempted assignment or transfer by the Executive contrary to
this Section 14, the Company shall have no liability to pay any amount so
attempted to be assigned or transferred.

 

SECTION
15.  Notices.  For
the purpose of this Agreement, notices and all other communications provided
for herein shall be in writing and shall be deemed to have been duly given when
delivered by hand or mailed by United States registered or certified mail,
return receipt requested, postage prepaid, addressed as follows:

 

If
to the Executive - at the address included on the signature page.

 

If to the Company:

 

The
Rouse Company

10275
Little Patuxent Parkway

Columbia,
Maryland 21044

 

Attention:
General Counsel

 

or to such other address as either party may
have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt.

 

SECTION
16.  Governing Law. 
The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of Maryland without
reference to principles of conflict of laws.

 

SECTION
17.  Miscellaneous.

 

(a)                                  This
Agreement contains the entire understanding with the Executive with respect to
the subject matter hereof and supersedes any and all prior agreements or
understandings, written or oral, relating to such subject matter.  No provision of this Agreement may be
modified, waived or discharged unless such modification, waiver or discharge is
agreed to in a writing signed by the Executive and the Company.  The rights

 

18

 

and obligations of the Company
and the Executive hereunder shall survive the expiration of the Term.

 

(b)                                 The
invalidity or unenforceability of any provision of this Agreement shall not affect
the validity or enforceability of any other provision of this Agreement.

 

(c)                                  Except
as provided herein, this Agreement shall not be construed to affect in any way
any rights or obligations in relation to the Executive’s employment by the
Company prior to the Operative Date or subsequent to the end of the Term.

 

(d)                                 This
Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which together will constitute one and the
same Agreement.

 

(e)                                  The
Company may withhold from any benefits payable under this Agreement all
Federal, state, local or other taxes as shall be required by law.

 

(f)                                    The
captions of this Agreement are not part of the provisions hereof and shall have
no force or effect.

 

IN WITNESS
WHEREOF, the parties have caused this Agreement to be executed and delivered as
of the day and year first above set forth.

 

	
   

  	
  THE ROUSE COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anthony W. Deering

  
	
   

  	
  Name:

  	
  Anthony W. Deering

  
	
   

  	
  Title:

  	
  Chairman and Chief
  Executive

  Officer

  
	
   

  	
   

  
	
   

  	
  /s/ Alton J. Scavo

  
	
   

  	
  Alton
  J. Scavo

  
	
   

  	
  (Executive)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Street Address)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (City, State, Zip Code)

  
				

 

19

 

Attachment A

(for
illustrative purposes only)

 

(Note:  All of the quoted terms in the following
illustration have the meanings assigned to them in Section 280G of the Code and
the final regulations promulgated thereunder. 
All capitalized terms have the meanings set forth in the Agreement.)

 

Assumptions

 

•                  A “change
in ownership or control” of the Company occurs in January 2005.

 

•                  Immediately
following the change in ownership or control, the executive receives a single
cash payment of $1.25 million, all of which is a “parachute payment.”

 

•                  The
executive is a “disqualified individual” and his “base amount” is $400,000 at
the time of the change in ownership or control.

 

•                  The
$1.25 million payment is the only payment to which the executive is entitled by
reason of the change in ownership or control.

 

Because the payment
exceeds three times the executive’s base amount, the payment is subject to the
excise tax imposed by Section 4999 of the Code. 
However, if the payment were reduced by $50,001, no excise tax would be
payable because the payment would not equal or exceed three times the executive’s
base amount.  Because $50,001 is a 10% or
less reduction of the payment, the Company is permitted to make the reduction
pursuant to the second paragraph of Section 10 of the Agreement.

 

20

Attachment B

(for
illustrative purposes only)

 

(Note:  All capitalized terms have the meanings set
forth in the Agreement.)

 

Assumptions

 

•                  10
executives of the Company are parties to Executive Agreements that are the same
as the Agreement.

 

•                  The
Company is acquired for $50 per share.

 

•                  The
only equity outstanding at the time of the transaction is 50 million shares of
common stock.

 

•                  The
Total Executive Payments calculated in accordance with Section 12 of the
Agreement as of immediately following the transaction are $60 million.

 

The Subject Amount in
this illustration is $2.5 billion, and 2% of the Subject Amount is $50
million.  Because the Total Executive
Payments exceed 2% of the Subject Amount, they are subject to reduction
pursuant to Section 11 of the Agreement. 
As to any executive, the reduction would be effected pursuant to the
following formula:  (2% of $2.5 billion)
times ((the Total Executive Payments allocable to him or her) divided by $60
million).  For example, if the Total
Executive Payments allocable to an executive in the transaction were $15
million, his or her Reduced Amount would be $12,500,000.  If the Total Executive Payments allocable to
another executive in the transaction were $1 million, that executive’s Total
Executive Payments would be reduced to $833,333.33.  (Note that, as to each executive, the ratio
of the Reduced Amount to the Total Executive Payments is the same (in this
illustration, .83333).)  The effect of
these reductions would be that the aggregate Reduced Amount for the ten
executives equal $50,000,000.

 

21Exhibit
10.6

 

Anthony W. Deering

c/o The Rouse
Company

10275 Little
Patuxent Parkway

Columbia, MD  21044

 

 

August 19, 2004

 

The Rouse Company

10275 Little
Patuxent Parkway

Columbia, MD  21044

 

Dear Sirs:

 

Reference is made
to the Employment Agreement, dated as of September 24, 1998, as amended by
amendments dated July 12, 1999, March 31, 2003 and August 9, 2004, to which The
Rouse Company and I am parties (the “Employment Agreement”).  I hereby agree to the addition of the
following paragraph as the second paragraph of Section 4.7 of the Employment
Agreement:

 

“Notwithstanding the immediately preceding paragraph,
in the event that a reduction to the Payments in respect of the Executive of
10% or less would cause no Excise Tax to be payable, the Executive will not be
entitled to an Excise Gross-Up Payment and the Payments shall be reduced to the
extent necessary so that the Payments shall not be subject to the Excise Tax.
Unless the Executive shall have given prior written notice to the Company
specifying a different order by which to effectuate the foregoing, the Company
shall reduce or eliminate the Payments by first reducing or eliminating the
portion of the Payments which are not payable in cash and then by reducing or
eliminating cash payments, in each case in reverse order beginning with
payments or benefits which are to be paid the farthest in time from the date of
the Change of Control. Any notice given by the Executive pursuant to the
preceding sentence shall take precedence over the provisions of any other plan,
arrangement or agreement governing the Executive’s rights and entitlements to
any benefits or compensation.”

 

In all respects
other than as amended by this letter, the Employment Agreement shall remain in
full force and effect.

 

 

Please acknowledge
your agreement to the above amendment by signing this letter below and
returning a copy to me.

 

	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Anthony W.
  Deering

  	
   

  
	
   

  	
  Anthony W.
  Deering

  
	
   

  	
   

  
	
   

  	
   

  
	
  ACKNOWLEDGED AND
  AGREED

  	
   

  
	
   

  	
   

  
	
  THE ROUSE
  COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/

  	
  Gordon H. Glenn

  	
   

  	
   

  
	
  By:

  	
  Gordon H. Glenn

  	
   

  	
   

  
	
  Its:

  	
  Senior Vice
  President,

  	
   

  	
   

  
	
   

  	
  General Counsel
  and Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]