Document:

exv10w20

 

Exhibit
10.20

AMENDMENT NO. 1 TO OFFICE LEASE

     THIS AMENDMENT NO. 1 TO OFFICE LEASE (this “Amendment”) is made this 7th day of July, 2005, by
and between 520 Pike Street, Inc., a Delaware corporation (“Landlord”), and Equator Technologies,
Inc., a Delaware corporation (“Tenant”).

     WITNESSETH:

     RECITALS: Landlord and Tenant are now parties to that certain Office Lease dated April 12, 2001
(the “Lease”), whereby Landlord leases to Tenant and Tenant leases from Landlord certain premises
commonly known as Suite 900 of the 520 Pike Tower located at 520 Pike Street in the City of
Seattle, County of King, State of Washington, all as more particularly described in the Lease.
Landlord and Tenant desire to change the location of the Premises, extend the term of the Lease,
provide for expansion of the Premises, grant Tenant certain options to further expand the Premises,
change the rent and make certain other changes to the Lease. The terms and provisions of this
Amendment shall be effective as of August 15, 2005, or such later date on which the Initial
Installations are Substantially Complete (as described in Section 6 of the Workletter), but in no
event later than August 25, 2005 (the “Effective Date”), except that Sections 2 and 11 of this
Amendment shall be effective on the earlier dates set forth in such Sections. The terms and
provisions of the Lease, without giving effect to this Amendment, including without limitation, the
provisions relating to the Premises, Base Rent Additional Rent, the Base Tax Year, and the Base
Expense Year, shall remain effective for all purposes as to all periods prior to the Effective
Date. All terms used in this Amendment, but not defined in this Amendment, shall have the same
meanings ascribed to them in the Lease. This Recital forms a contractual part of this Amendment.

     NOW, THEREFORE, in consideration of the mutual covenants contained in the Lease and herein and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
Landlord and Tenant hereby agree that the Lease is amended, effective as of as of the Effective
Date as follows:

     1. Article 1, Section B. of the Lease is amended to read as follows:

	 	 	 
	     “B. Premises:

	 	Suite 1375 in the Building as
outlined or cross-hatched on Exhibit A-2.”

     2. Delivery
of Possession of Suite 1375; Vacation of Suite 900. Landlord shall deliver
possession of Suite 1375 to Tenant on the Effective Date. Tenant shall vacate Suite 900 on the
Effective Date, in accordance with Article 23 of the Lease and all other applicable provisions of
the Lease.

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     3. Article 1, Section D. of the Lease is amended to read as follows:

	 	 	 
	     “D. Expiration Date:

	 	October 15, 2011, or the date which is six (6) years
and two (2) months after the Effective Date.”

     4. Article 1, Section E. of the Lease is amended to read as follows:

	 	 	 
	     “E. Rentable Area:

	 	The rentable area of the Premises shall be deemed
7,589 square feet, and the rentable area of the Property shall be deemed 374,225 square feet, for
purposes of this Lease, subject to Article 32.”

     5. Article 1, Section F. of the Lease is amended to read as follows:

	 	 	 
	     “F. Tenant’s Share:

	 	Two and 03/100ths percent (2.02%), subject to
Articles 4 and 32.”

     6. Article 1, Section G. of the Lease is amended to read as follows:

	 	 	 
	     “G. Base Rent:

	 	Base Rent shall be the following amounts per month

during the following periods:

	 	 	 	 	 
	 	 	Monthly
	Period	 	Amount
	August 15, 2005 — August 14, 2006

	 	$	13,596.96	 
	August 15, 2006 — August 14, 2007

	 	$	14,229.38	 
	August 15, 2007 — August 14, 2008

	 	$	14,861.79	 
	August 15, 2008 — August 14, 2009

	 	$	15,494.21	 
	August 15, 2009 — August 14, 2010

	 	$	16,126.63	 
	August 15, 2010 — August 14, 2011

	 	$	16,759.04	 
	August 15, 2011 — October 15, 2011

	 	$	17,391.46	 

     If the Effective Date is later than August 15, 2005, then the above rent schedule shall be
appropriately adjusted.”

     7. Article. 1, Section H. of the Lease is amended to read as follows:

	 	 	 
	     “H. Additional Rent:

	 	Tenant shall pay Tenant’s Share of Taxes and
Expenses in excess of the amounts, respectively, for the year 2005 (“Base Tax Year”) and for the
year 2005 (“Base Expense Year”), as further described in Article 4.”

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     8. Article 1, Section J. of the Lease is amended to read as follows:

	 	 	 
	     “J. Security Deposit:

	 	$59,000.00, provided, however, that if, as of
September 1, 2007, Tenant has not been, and is not then, in default under this Lease beyond applicable notice and cure periods, the Security Deposit
shall be reduced to $27,950.00, and the difference of $31,050.00 shall be credited against Base
Rent, or, at Landlord’s option and in lieu of such credit, refunded directly to Tenant. The
Security Deposit shall be subject to Article 16.”

     9. Termination
Payment. The Lease, without giving effect to this Amendment, provides for Base Rent,
Additional Rent and other charges during the period from August 15, 2005 to September 30, 2006, of
approximately $750,000. In consideration of the termination of the original terms of the Lease,
Tenant agrees to pay to Landlord a termination payment equal to the sum of Four Hundred Thousand
and No/100 Dollars ($400,000), without interest (the “Termination Payment”), payable in
seventy-three (73) equal monthly installments of Five Thousand Four Hundred Seventy-nine and 45/100
Dollars ($5,479.45) on the first day of each month commencing on September 1, 2005, and ending on
September 1, 2011 (the “Amortization Rent”). If the Lease is terminated due to destruction of the
Building and/or the Premises or a taking of the Building and/or the Premises by condemnation during
the period from September 1, 2005 to September 30, 2006, then the Termination Payment shall be
reduced by an amount that is in the same ratio to the Termination Payment as the number of days
from the date of such destruction or taking to September 30, 2006 bears to the total number of days
from September 1, 2005 to September 30, 2006. If the Lease is terminated for any reason, including
the destruction of the Building and/or the Premises or a taking of the Building and/or the Premises
by condemnation, Tenant’s obligation to pay the Termination Payment (as the Termination Payment may
be reduced pursuant to this Section) to Landlord shall survive the termination of the Lease. If the
Termination Payment is reduced pursuant to this Section, then the Amortization Rent shall be
proportionately reduced.

     10. Condition of Premises; Landlord’s Contribution; Tenant
Improvements. Tenant accepts Suite 1375 in its “AS IS” condition. Landlord shall
provide a tenant improvement allowance for permanent improvements to the Premises,
including telephone cabling, data cabling, and other low voltage cabling, of Twelve and
50/100 Dollars ($12.50) times the number of rentable square feet of space in the
Premises, for a total tenant improvement allowance of Ninety-four Thousand Eight
Hundred Sixty-two and 50/100 Dollars ($94,862.50) (“Landlord’s Contribution”). If the cost of the
tenant improvements is more than Landlord’s Contribution, Tenant shall pay such excess cost. If
the cost of the tenant improvements is less than Landlord’s Contribution, then Tenant may apply the
unused portion of Landlord’s Contribution to pay for permanent improvements to the Must
Take Expansion Space, including telephone cabling, data cabling, and other low voltage
cabling. Landlord and Tenant shall enter into the Workletter attached to this
Amendment as Exhibit B (the “Workletter”), which shall govern construction of the tenant
improvements.

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     11. Landlord’s
Additional Contribution. Landlord shall provide an allowance of One
Hundred Fifty-nine Thousand Five Hundred Fourteen and No/100 Dollars ($159,514.00)
(“Landlord’s Additional Contribution”) to Tenant for Tenant’s relocation costs, moving costs,
tenant improvement costs and other related costs. The Landlord’s Additional Contribution shall be
paid within thirty (30) days of the date Tenant vacates Suite 900.

     12. Must
Take Expansion Space. Landlord shall deliver vacant possession of Suite 1340,
consisting of 2,249 rentable square feet of space (the “Must Take Expansion Space”), to
Tenant promptly after the existing lease covering the Must Take Expansion Space expires or after
Landlord relocates the existing tenant of the Must Take Expansion Space, and the Premises shall be
expanded to include the Must Take Expansion Space upon such delivery of possession. The existing
lease covering the Must Take Expansion Space expires on September 30, 2006. Base Rent
shall commence sixty (60) days after delivery of possession of the Must Take Expansion Space to
Tenant (the “Must Take Expansion Space Rent Commencement Date”). Base
Rent per month for the Must Take Expansion Space shall be equal to 2,249, times the applicable
rate per square foot per year set forth in the below Rent Schedule, divided by twelve (12). Tenant
will accept the Must Take Expansion Space in its then “AS IS” condition. Landlord shall provide a
tenant improvement allowance for permanent tenant improvements to the Must Take Expansion Space,
including telephone cabling: data cabling, and other low voltage cabling, of Twelve and 50/100
Dollars ($12.50) times the number of rentable square feet of space in the Must Take Expansion Space
(the “Must Take Expansion Space Landlord Contribution”). If the cost of the tenant improvements to
the Must Take Expansion Space is less than the portion of Landlord’s Contribution, if any, applied
to pay for tenant improvements to the Must Take Expansion Space and the Must Take Expansion Space
Landlord Contribution, then Landlord and Tenant shall split the savings equally

Rent Schedule

	 	 	 	 	 
	 	 	Rate per Square
	Period	 	Foot per Year
	August 15, 2005 — August 14, 2006

	 	$	21.50	 
	August 15, 2006 — August 14, 2007

	 	$	22.50	 
	August 15, 2007 — August 14, 2008

	 	$	23.50	 
	August 15, 2008 — August 14, 2009

	 	$	24.50	 
	August 15, 2009 — August 14, 2010

	 	$	25.50	 
	August 15, 2010 — August 14, 2011

	 	$	26.50	 
	August 15, 2011 — October 15, 2011

	 	$	27.50	 

Tenant’s Share shall be appropriately adjusted sixty (60) days after delivery of possession of
the Must Take Expansion Space to Tenant. If the Premises have not otherwise been expanded prior to
that time, then Tenant’s Share shall be increased to two and 63/100ths percent (2.63%) sixty (60)
days after delivery of possession of the Must Take Expansion Space to Tenant.

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     13. Temporary
Space. Landlord shall deliver possession of Suite 1210,
consisting of 2,382 rentable square feet of space (the “Temporary Space”), to Tenant the day after
execution of this Amendment by both parties (the “Temporary Space Delivery Date”). Tenant shall
lease the Temporary Space from Landlord from the Temporary Space Delivery Date to the
Must Take Expansion Space Rent Commencement Date. No Base Rent shall be payable by Tenant
for the Temporary Space, however, Tenant shall pay to Landlord Tenant’s Temporary Space Share of
Taxes and Expenses (as defined in the Lease) during the period from the Temporary Space Delivery
Date to the Must Take Expansion Space Rent Commencement Date. Tenant’s Temporary Space Share is
64/100ths percent (.64%). Landlord estimates that Taxes and Expenses will be Ten and 28/100
Dollars ($10.28) per square foot during calendar year 2005. Tenant acknowledges that Tenant’s
Temporary Space Share shall apply to the total amount of Taxes and Expenses, rather than to
increases in Taxes and Expenses over the Base Tax Year and the Base Expense Year, respectively.
Tenant shall vacate the Temporary Space within ten (10) days after the Must Take Expansion Space
Rent Commencement Date, in accordance with Article 23 of the Lease and all other applicable
provisions of the Lease.

     14. Option
to Expand. Tenant shall have the right, at its option, to expand the Premises to
include any or all of the spaces described below (each, an “Expansion Space”) as of the dates set
forth below (each, an “Availability Date”), by giving Landlord notice to such effect (the
“Expansion Notice”) not less than three (3) months before the relevant Availability Date, or, if
the relevant Expansion Space remains or becomes vacant and legally available for lease after the
Availability Date, by giving Landlord notice to such effect (the “Expansion Notice”) not less than
three (3) months before the anticipated commencement date as to the relevant Expansion Space set
forth in the Expansion Notice (the “Expansion Space Commencement Date”). Landlord, at its
option, may waive the requirement for three (3) months prior notice by giving notice to such
effect to Tenant, and, if Landlord does so, then the Expansion Space
Commencement Date shall be ten (10) days after receipt of Tenant’s Expansion Notice. Landlord shall
deliver possession of each Expansion Space to Tenant in its “AS IS” condition on the Availability
Date, the Expansion Space Commencement Date, or the date ten (10) days after receipt of Tenant’s
Expansion Notice, as applicable. As of the Availability Date, the Expansion Space Commencement
Date, or the date ten (10) days after receipt of Tenant’s Expansion Notice, as applicable, the
Expansion Space shall be added to the Premises, and as of the date sixty (60) days after the
Availability Date, the Expansion Space Commencement Date, or the date ten (10) days after receipt
of Tenant’s Expansion Notice, as applicable, the Base Rent shall be increased by the then current
Fair Market Value of the relevant Expansion Space, and Tenant’s Share shall be appropriately
adjusted. The term “Fair Market Value” shall mean the then prevailing market rate per square foot
for full service base rent for tenants of comparable quality for leases in comparable Class A
office buildings of comparable age, use, location and quality in the Central Business District of
Seattle, Washington taking into consideration the extent of the availability of space as large as
the Premises in the marketplace and all other economic terms then customarily prevailing in
the marketplace, all as

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reasonably determined by Landlord, times the number of rentable square feet of space in the
relevant Expansion Space. No real estate commissions shall be payable by Landlord with respect to
any of the Expansion Spaces.

	 	 	 	 	 	 	 
	Space	 	Area	 	Availability Date	 	 
	Suite 1320

	 	1,324 RSF
	 	November 1, 2008	 	 
	Suite 1330

	 	778 RSF
	 	January 1, 2009	 	 
	Suite 1310

	 	1,331 RSF
	 	August 1,2009	 	 

If an Expansion Space remains or becomes vacant and legally available for lease after the
Availability Date; if Tenant gives an Expansion Notice to Landlord as to such Expansion Space, and
if Landlord is then engaged in negotiations with one or more third parties to lease part or all of
such Expansion Space, then Tenant shall elect to either (i) give Landlord ninety (90) days to
complete such negotiations, and, if Landlord completes such negotiations, then Landlord shall have
the right to lease such Expansion Space to such third party or parties, or (ii) lease all of such
Expansion Space from Landlord on the terms and conditions, including Base Rent, Additional Rent and
other terms and conditions set forth in Landlord’s last offer to such third party or parties.

     15. Parking. Tenant shall have the right to use one (1) parking stall in the parking garage of
the Building per each 1,450 rentable square feet of space in the Premises from time to time. All
such parking stalls shall be on a non-exclusive and unreserved basis. Based on 7,589 rentable
square feet of space in the Premises, and either 2,382 rentable square feet of space in the
Temporary Space, or 2,249 rentable square feet of space in the Must Take Expansion Space, Tenant
shall have the right to use up to seven (7) parking stalls in the parking garage of the Building.
Tenant shall pay Landlord’s current rates for such parking stalls used during the Term. Upon
Landlord’s request, Tenant shall execute the parking garage operator’s standard form of parking
agreement.

     16. Replacement
of Exhibit. Exhibit A-2 of the Lease is replaced with Exhibit A-2 of this
Amendment attached hereto

     17. No
Other Modification. Except as expressly amended herein, all of the terms, conditions
and provisions of the Lease shall remain unmodified and in full force and effect.

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     DATED the date and year first above written.

	 	 	 	 	 
	 	LANDLORD:

520 PIKE STREET, INC.,

a Delaware corporation

 	 
	 	By:  	/s/ Paul A. Galiano
 	 
	 		PAUL A. GALIANO
 	 
	 	Its:  VICE PRESIDENT

TENANT: 

Equator Technologies, Inc., a Delaware

corporation

 	 
	 	By:  	/s/ Jeff Bouchard
 	 
	 	Its:  Secretary 

 	 

7EXHIBIT 10.1

                              [TEMPLATE - OPTIONS]

                                     [DATE]

[FULL NAME]
[ADDRESS]

Dear [FIRST NAME],

         Pursuant  to  the  Company's  Employee  Stock  Plan  (the  "Plan"),  on
___________  (the  "Effective  Date")  you  were  selected  by the  Compensation
Committee of the Board of Directors  (as more fully  described in Paragraph  14,
the "Committee") of Cablevision  Systems  Corporation (the "Company") to receive
nonqualified  stock options (the  "Options") to purchase ____ (___) shares of NY
Group  Class A Common  Stock of the Company  (the  "Class A Common  Stock") at a
price of $____ per share.

         Capitalized  terms  used  but  not  defined  in  this  agreement  (this
"Agreement")  have the  meanings  given to them in the  Plan.  The  Options  are
granted subject to the terms and conditions set forth below:

         1. Vesting.  [_________  Options are vested and  exercisable.]  [If you
remain in the  continuous  employ of the Company or any  Affiliate,  the Options
will become vested and  exercisable in accordance  with the following  schedule:

           --------------------------------------------------------------
                                   Portion of
           Date                    Options Becoming Exercisable
           --------------------------------------------------------------

           --------------------------------------------------------------
]

         2.  Exercise.  You may  exercise  the Options  that  become  vested and
exercisable by giving written notice to the Secretary of the Company  specifying
the number of shares of Class A Common  Stock as to which the  Options are being
exercised  (the  "Exercise  Notice"),  together  with a copy of this  Agreement.
Unless the Company  chooses to settle such  exercise in cash,  shares of Class A
Common  Stock,  or a  combination  thereof  pursuant to Paragraph 3, you will be
required to deliver to the Company  within five (5) days of your delivery of the
Exercise  Notice,  payment in full of the exercise  price due on account of such
exercise.  You may pay the  exercise  price  by cash,  by  certified  check,  by
surrendering shares of Class A Common Stock or by any combination thereof. Class
A Common Stock used to pay the exercise  price pursuant to this Paragraph 2 will
be valued at the Fair Market Value as of the day preceding the date of exercise.

         3. Option Spread.  Upon receipt of the Exercise Notice, the Company may
elect, in lieu of issuing shares of Class A Common Stock, to settle the exercise
covered by such notice by paying you an amount equal to the product  obtained by
multiplying (i) the excess of

<PAGE>

the Fair  Market  Value of one (1) share of Class A Common  Stock on the date of
exercise over the per share exercise price of the Options (the "Option  Spread")
by (ii) the number of shares of Class A Common  Stock  specified in the Exercise
Notice.  The  amount  payable to you in these  circumstances  may be paid by the
Company either in cash or in shares of Class A Common Stock having a Fair Market
Value equal to the Option Spread, or a combination thereof, as the Company shall
determine.  Class A Common Stock used to pay the Option Spread  pursuant to this
Paragraph 3 will be valued at the Fair Market  Value as of the day the  Exercise
Notice is received by the Company.

         4.  Expiration.  The Options will terminate  automatically  and without
further notice on the tenth (10th) anniversary of ___________,  or at any of the
following dates, if earlier:

         (A)  with respect to those  Options which are then  unexercisable;  the
              date upon which you cease to be an  employee  of the Company or an
              Affiliate;

         (B)  with respect to those Options which are then exercisable:

              (i)  _____________  (____) [days] [months]  [years]  following the
              date upon which you cease to be an  employee  of the Company or an
              Affiliate,  unless  you cease to be an  employee  by reason of (y)
              death,  Disability  (as  defined  below)  or  retirement  with the
              Company's  consent or (z) your  employment  having been terminated
              for Cause (as defined below);

              (ii)  _____________  (____) [days] [months] [years]  following the
              date upon which you cease to be an  employee  of the Company or an
              Affiliate,  if such  cessation  is the  result  of  Disability  or
              Retirement; or

         (C)  with  respect  to  all  your  then  outstanding  Options,  whether
              exercisable or unexercisable,  the date upon which your employment
              is terminated for Cause.

         For purposes of this  Agreement,  "Cause"  means,  as determined by the
Committee,   your   (i)   commission   of  an   act  of   fraud,   embezzlement,
misappropriation,  willful  misconduct,  gross negligence or breach of fiduciary
duty against the Company or an affiliate thereof,  or (ii) commission of any act
or omission  that  results in a  conviction,  plea of no  contest,  plea of nolo
contendere,  or imposition of  unadjudicated  probation for any crime  involving
moral turpitude or any felony.

         For purposes of this  Agreement,  "Disability"  means your inability to
perform for six (6) continuous months  substantially all the essential duties of
your occupation, as determined by the Committee.

         For purposes of this Agreement, "Retirement" means ___________.

         Notwithstanding  the first (1st)  sentence of this  Paragraph 4, in the
event of your death during the period that your Options are exercisable, whether
death  occurs  before  or after  you  cease  employment,  the  Options  that are
exercisable at the time of your death shall remain exercisable by your estate or
beneficiary until the first (1st) anniversary of your death, whether or not such
first (1st)  anniversary  occurs  prior to the tenth (10th)  anniversary  of the
Effective Date.

                                      -2-

<PAGE>

         5. Change of Control.  As set forth in Appendix 1 attached hereto,  the
Options may be  affected in the event of a Change of Control or a going  private
transaction (each as defined in Appendix 1 attached hereto) of the Company.

         6. Tax Representations and Tax Withholding. You hereby acknowledge that
you have  reviewed  with your own tax advisors the federal,  state and local tax
consequences  of exercising  the Options and receiving  shares of Class A Common
Stock and cash. You hereby  represent to the Company that you are relying solely
on such advisors and not on any  statements or  representations  of the Company,
its Affiliates or any of their respective agents.

         If, in  connection  with the  exercise of the  Options,  the Company is
required to withhold any amounts by reason of any  federal,  state or local tax,
such withholding shall be effected in accordance with Section 16 of the Plan.

         7.  Transfer  Restrictions.  You may not  transfer,  assign,  pledge or
otherwise encumber the Options, other than to the extent provided in the Plan.

         8. Non-Qualification as ISO. The Options are not intended to qualify as
"incentive  stock  options"  within the meaning of Section  422A of the Internal
Revenue Code of 1986, as amended.

         9.  Relationship  with  Competitive  Entities.  In the  event you shall
voluntarily  terminate  your  employment or your  employment  is terminated  for
Cause,  you shall not become  employed  by,  consult  to, or have any  interest,
directly or indirectly,  in any Competitive Entity (as defined below) within one
(1) year of exercising any Options hereunder. If you shall voluntarily terminate
your employment or your employment is terminated for Cause, and, in either case,
subsequently  become employed by, consult to, or have any interest,  directly or
indirectly,  in a  Competitive  Entity during such  one-year  period,  you shall
within ten (10) business days thereof pay the Company, as liquidated damages and
not as a penalty,  an amount  equal to the sum of (a) the  product of the Option
Spread  multiplied  by the number of shares of Class A Common Stock with respect
to which the Options  were  exercised  during  such  one-year  period,  plus (b)
interest at a rate equal to the lesser of (i) twelve  percent (12%) per annum or
(ii)  the  maximum  interest  rate  permitted  by  applicable  law,   compounded
quarterly,  calculated  from the date you  exercised  the Options until the date
such payment to the Company is made. A  "Competitive  Entity" shall mean (1) any
company  that  competes  (including,  without  limitation,  by means  of  direct
broadcast satellite or a fiber optic or other network) with any of the Company's
cable  television,  telephone  or on-line data  businesses  in the New York City
Metropolitan  Area (as defined in Appendix 1 attached  hereto) or that  competes
with  any  of  the  Company's  programming,   cinema,  sports  or  entertainment
businesses,   nationally  or  regionally;  or  (2)  any  trade  or  professional
association representing any of the companies covered by this Paragraph 9, other
than the National Cable  Television  Association and any state cable  television
association.  Ownership  of not more than one  percent  (1%) of the  outstanding
stock of any publicly-traded  company shall not be a violation of this Paragraph
9.

         By  accepting  this  Agreement,  you  understand  that  the  terms  and
conditions of this  Paragraph 9 may limit your ability to earn a livelihood in a
business similar to the business of the Company,  but nevertheless  hereby agree
that the restrictions and limitations  hereof are reasonable in scope,  area and
duration, and that the consideration provided under the Plan and this

                                      -3-

<PAGE>

Agreement is sufficient to justify the restrictions and limitations contained in
this Paragraph 9.  Accordingly,  in  consideration  thereof and in light of your
education,  skills and abilities, by participating in the Plan, you hereby agree
that you will not assert, and it should not be considered,  that such provisions
are either  unreasonable  in scope,  area or duration,  or will prevent you from
earning a living, or otherwise are void,  voidable or unenforceable or should be
voided or held  unenforceable.  You further understand and hereby agree that the
restrictions and limitations contained in this Paragraph 9 are ancillary to, and
part of, the Plan and this  Agreement,  and are reasonably  necessary to protect
the good will and business interests of the Company.

         You hereby agree that a breach or threatened breach on your part of the
restrictions  and  limitations  contained  in this  Paragraph  9 will cause such
damage to the  Company as will be  irreparable  and for that  reason you further
agree that the Company  shall be entitled as a matter of right to an  injunction
or  other  equitable  relief  out  of  any  court  of  competent   jurisdiction,
restraining  any further  violation  of this  Paragraph  9 by you.  The right to
injunction or other equitable  relief shall be cumulative and in addition to any
and all other remedies the Company may have, including,  specifically,  recovery
of money damages and any other legal or equitable relief  available.  You hereby
waive any  requirement  for  security or the posting of any bond or other surety
and proof of damages in  connection  with any  temporary or  permanent  award of
injunctive or other equitable relief.

         10. Securities Law Acknowledgments.  You hereby acknowledge and confirm
to the  Company  that (i) you are aware that the shares of Class A Common  Stock
are  publicly-traded  securities  and (ii) the  shares  of Class A Common  Stock
issuable upon  exercise of the Options may not be sold or otherwise  transferred
unless such sale or transfer is registered  under the Securities Act of 1933, as
amended,  and the securities laws of any applicable state or other jurisdiction,
or is exempt from such registration.

         11. Governing Law. This Agreement shall be deemed to be made under, and
in  all  respects  shall  be  interpreted,  construed  and  governed  by  and in
accordance with, the laws of the State of New York.

         12.  Jurisdiction  and  Venue.  You  hereby  irrevocably  submit to the
jurisdiction  of the courts of the State of New York and the  Federal  courts of
the  United  States of America  located in the  Southern  District  and  Eastern
District  of the  State  of New  York  in  respect  of  the  interpretation  and
enforcement of the provisions of this Agreement, and hereby waive, and agree not
to  assert,  as a defense  that you are not  subject  thereto  or that the venue
thereof  may not be  appropriate.  You hereby  agree that  mailing of process or
other papers in  connection  with any such action or proceeding in any manner as
may be permitted by law shall be valid and sufficient service thereof.

         13. Right of Offset. You hereby agree that if the Company shall owe you
any amount (the  "Company-Owed  Amount") under this Agreement,  then the Company
shall have the right to offset against the Company-Owed  Amount,  to the maximum
extent  permitted  by law,  any  amounts  that you may owe to the Company or its
Affiliates of whatever  nature.  You hereby  further agree that if you shall owe
the Company any amount (the  "Optionee-Owed  Amount") under  Paragraph 9 of this
Agreement,  then the  Company  shall have the right to offset the  Optionee-Owed
Amount,  to the maximum extent  permitted by law,  against any amount you may be
entitled to receive from the Company or its  Affiliates  under this Agreement or
otherwise (in-

                                      -4-

<PAGE>

cluding,  without limitation,  any wages, vacation pay, or other compensation or
benefit under any benefit plan or other compensatory arrangement).

         14. The Committee. For purposes of this Agreement, the term "Committee"
means the Compensation Committee of the Board of Directors of the Company or any
replacement committee established under, and as more fully defined in, the Plan.

         15.  Committee  Discretion.  The  Committee  has full  discretion  with
respect to any actions to be taken or  determinations  to be made in  connection
with  this  Agreement,  and its  determinations  shall  be  final,  binding  and
conclusive.

         16.  Amendment.  The Committee  reserves the right at any time to amend
the  terms  and  conditions  set forth in this  Agreement,  except  that no such
amendment  shall  materially  adversely  affect your economic  rights under this
Agreement  without your  consent.  Any amendment of this  Agreement  shall be in
writing  and  signed by an  authorized  member of the  Committee  or a person or
persons designated by the Committee.

         17. Options  Subject to the Plan. The Options granted by this Agreement
are subject to the Plan.

         18. Entire Agreement.  Except for any employment  agreement between you
and the Company or any of its  Affiliates  in effect as of the date of the grant
hereof (as such employment  agreement may be modified or renewed,  provided that
such  modification  or  renewal  shall not extend  the time any  Options  may be
exercised  beyond  the  time  provided  herein  or in such  original  employment
agreement),  this Agreement and the Plan constitute the entire understanding and
agreement of you and the Company with respect to the Options  covered hereby and
supersede all prior  understandings  and agreements.  In the event of a conflict
among the  documents  with  respect to the terms and  conditions  of the Options
covered hereby, the documents will be accorded the following order of authority:
the terms and conditions of the Plan will have highest authority followed by the
terms and  conditions  of your  employment  agreement  followed by the terms and
conditions of this Agreement.

         19. Successors and Assigns.  The terms and conditions of this Agreement
shall be binding  upon,  and shall  inure to the benefit of, the Company and its
successors and assigns.

         20.  Waiver.  No waiver by the Company at any time of any breach by you
of, or compliance  with,  any term or condition of this Agreement or the Plan to
be  performed  by you shall be deemed a waiver of the same,  any  similar or any
dissimilar term or condition at the same or at any prior or subsequent time.

         21.  Severability.  The terms or conditions of this Agreement  shall be
deemed severable and the invalidity or unenforceability of any term or condition
hereof  shall not affect the validity or  enforceability  of the other terms and
conditions set forth herein.

         22.  Exclusion  from  Compensation  Calculation.  By acceptance of this
Agreement,  you shall be  considered  in  agreement  that all  shares of Class A
Common  Stock and cash  received  upon each  exercise  of the  Options  shall be
considered  special incentive  compensation and will be exempt from inclusion as
"wages" or "salary" in pension,  retirement,  life  insurance and other employee
benefits  arrangements of the Company and its  Affiliates,  except as determined
otherwise  by the  Company.  In addition,  each of your  beneficiaries  shall be
deemed to be in agreement  that all such shares of Class A Common Stock and cash
be exempt from  inclusion  in "wages" or "salary"  for  purposes of  calculating
benefits of any life insurance  coverage  sponsored by the Company or any of its
Affiliates.

                                      -5-

<PAGE>

         23.  No  Right  to  Continued  Employment.  Nothing  contained  in this
Agreement  or the Plan shall be construed to confer on you any right to continue
in the employ of the Company or any Affiliate, or derogate from the right of the
Company or any Affiliate, as applicable,  to retire, request the resignation of,
or discharge you, at any time, with or without cause.

         24.  Headings.  The  headings  in this  Agreement  are for  purposes of
convenience only and are not intended to define or limit the construction of the
terms and conditions of this Agreement.

         25.  Effective  Date.  Upon execution by you, this  Agreement  shall be
effective from and as of the Effective Date.

         26.  Signatures.  Execution of this  Agreement by the Company may be in
the form of an  electronic  or similar  signature  and such  signature  shall be
treated as an original signature for all purposes.

                                              CABLEVISION SYSTEMS CORPORATION

                                              By:
                                                   -----------------------------
                                                   Name:
                                                   Title:

         By your signature, you (i) acknowledge that a complete copy of the Plan
and an executed  original of this  Agreement have been made available to you and
(ii)  agree to all of the  terms and  conditions  set forth in the Plan and this
Agreement.

------------------------------
Optionee:
          ----------------------

                                      -6-

<PAGE>

                                   APPENDIX 1

                                       TO

                          STOCK OPTION AWARD AGREEMENT

         In the  event of a  "Change  of  Control"  of the  Company  or a "going
private transaction," as defined below, your entitlement to exercise the Options
shall be as follows:

         1. If the Company or the  "surviving  entity",  as defined  below,  has
shares of common  stock  (or  partnership  units)  traded  on a  national  stock
exchange or on the over-the-counter  market as reported on NASDAQ, the Committee
shall,  to the extent  that the  Options  have not been  exercised  and have not
expired (the  "Outstanding  Options"),  no later than the effective  date of the
transaction  which results in a Change of Control or going  private  transaction
either  (A)  convert  your  rights in the  Outstanding  Options  into a right to
receive an amount of cash equal to (i) the  number of common  shares  subject or
relating to the  Outstanding  Options  multiplied  by (ii) the excess of (x) the
"offer price per share," the "acquisition  price per share" or the "merger price
per share," each as defined below, whichever of such amounts is applicable, over
(y) the  exercise  price of the shares  subject or relating  to the  Outstanding
Options,  or  (B)  arrange  to  have  the  surviving  entity  grant  to  you  in
substitution  for your  Outstanding  Options an award of  options  for shares of
common stock (or  partnership  units) of the surviving  entity on the same terms
with a value  equivalent to the Outstanding  Options and which will, in the good
faith  determination  of the  Committee,  provide you with an equivalent  profit
potential.

         2. If the  Company  or the  surviving  entity  does not have  shares of
common stock (or  partnership  units) traded on a national  stock exchange or on
the  over-the-counter  market as reported on NASDAQ, the Committee shall convert
your rights in the Outstanding Options into a right to receive an amount of cash
equal to the amount calculated as per Section 1(A) above.

         3. The cash award  provided in Section 1 or 2 shall  become  payable to
you, and the substitute  options of the surviving  entity  provided in Section 1
will become  exercisable (1) with respect to the  Outstanding  Options that were
not  exercisable on the effective date of the Change of Control or going private
transaction,  as the case may be,  at the  earlier  of (a) the date on which the
Outstanding  Options would otherwise have become exercisable  hereunder had they
continued in effect,  or (b) the date on which your  employment with the Company
or the surviving entity is terminated (i) by the Company or the surviving entity
other than for Cause, if such  termination  occurs within three (3) years of the
Change of Control or going private  transaction,  (ii) by you for "good reason,"
as defined  below,  if such  termination  occurs  within  three (3) years of the
Change of Control or going private transaction or (iii) by you for any reason at
least six (6) months, but not more than nine (9) months after the effective date
of the Change of Control or going  private  transaction,  or (2) with respect to
the  Outstanding  Options that were  exercisable  on the  effective  date of the
Change  of  Control  or going  private  transaction,  as the  case  may be,  the
substitute  options  shall become  exercisable  immediately  and the cash awards
shall  become  payable  promptly.  The  amount  payable in cash shall be payable
together with interest from the effective date of the Change of Control or going
private  transaction  until the date of payment at (a) the weighted average cost
of capital of the Company  immediately  prior to the effectiveness of the Change
of Control or going private transaction, or (b) if the Company (or the surviving
en-

                                      -7-

<PAGE>

tity) sets aside the funds in a trust or other funding arrangement, the actual
earnings of such trust or other funding arrangement.

         4. As used herein,

         "Change of Control" means the acquisition, in a transaction or a series
of related transactions,  by any person or group, other than Charles F. Dolan or
members of the immediate family of Charles F. Dolan or trusts for the benefit of
Charles F. Dolan or his immediate family (or an entity or entities controlled by
any of them)  or any  employee  benefit  plan  sponsored  or  maintained  by the
Company,  of (1) the power to direct the  management  of  substantially  all the
cable  television  systems  then  owned  by the  Company  in the New  York  City
Metropolitan  Area (as hereinafter  defined) or (2) after any fiscal year of the
Company in which all the  systems  referred  to in clause  (1) above  shall have
contributed  in the  aggregate  less than a majority of the net  revenues of the
Company and its consolidated subsidiaries, the power to direct the management of
the Company or substantially all its assets. Net revenues shall be determined by
the independent accountants of the Company in accordance with generally accepted
accounting  principles  consistently  applied and certified by such accountants.
"New York City  Metropolitan  Area"  means all  locations  within the  following
counties:  (i) New  York,  Richmond,  Kings,  Queens,  Bronx,  Nassau,  Suffolk,
Westchester,  Rockland,  Orange, Putnam,  Sullivan,  Dutchess, and Ulster in New
York State; (ii) Hudson, Bergen, Passaic, Sussex, Warren,  Hunterdon,  Somerset,
Union, Morris, Middlesex, Mercer, Monmouth, Essex and Ocean in New Jersey; (iii)
Pike in Pennsylvania; and (iv) Fairfield and New Haven in Connecticut.

         "Surviving entity" means the entity that owns,  directly or indirectly,
after  consummation of any transaction,  substantially  all the cable television
systems  owned  directly  or  indirectly  by the  Company  in the New York  City
Metropolitan Area prior to consummation of such transaction.  If any such entity
is at least  majority-owned,  directly or  indirectly,  by any entity (a "parent
entity")  which has shares of common stock (or  partnership  units)  traded on a
national stock exchange or the  over-the-counter  market, as reported on NASDAQ,
then such parent entity shall be deemed to be the surviving entity provided that
if there shall be more than one such parent entity, the parent entity closest to
ownership of the Company's  cable  television  systems shall be deemed to be the
surviving entity. If in connection with any transaction,  a Change of Control or
going private  transaction occurs and no entity shall own, after consummation of
such transaction,  substantially  all the cable television  systems owned by the
Company in the New York City  Metropolitan  Area prior to  consummation  of such
transaction,  then, notwithstanding any other provision of this Section 4 to the
contrary,  there  shall  not be  deemed  to be a  surviving  entity  so that the
provisions of Section 1(B) shall not be applicable.  Ownership of "substantially
all" the  Company's New York City  Metropolitan  Area cable  television  systems
shall mean  ownership,  after  consummation  of such  transaction  (or series of
related  transactions),  of an aggregate of at least eighty percent (80%) of the
basic  subscribers of all the cable television  systems owned by the Company and
its consolidated  subsidiaries in the New York City  Metropolitan  Area prior to
such transaction (or series of related transactions).

         "Going private transaction" means a transaction described in Rule 13e-3
to the Securities and Exchange Act of 1934.

                                      -8-

<PAGE>

         "Good reason" means

         (i) without your  express  written  consent any  reduction in your base
salary or bonus potential, or any material impairment or material adverse change
in your working conditions (as the same may from time to time have been improved
or,  with your  written  consent,  otherwise  altered,  in each case,  after the
Effective Date) at any time after or within ninety (90) days prior to the Change
of Control including,  without limitation,  any material reduction of your other
compensation,  executive perquisites or other employee benefits (measured, where
applicable,  by level or participation or percentage of award under any plans of
the Company), or material impairment or material adverse change of your level of
responsibility, authority, autonomy or title, or to your scope of duties;

         (ii) any failure by the Company to comply with any of the provisions of
this Agreement,  other than an insubstantial or inadvertent  failure remedied by
the Company promptly after receipt of notice thereof given by you;

         (iii) the Company's requiring you to be based at any office or location
more than  thirty-five (35) miles from your location  immediately  prior to such
event  except  for  travel  reasonably  required  in  the  performance  of  your
responsibilities; or

         (iv) any failure by the Company to obtain the  assumption and agreement
to perform this Agreement by a successor as contemplated by Section 1.

         "Offer  price per share"  shall mean,  in the case of a tender offer or
exchange offer which results in a Change of Control or going private transaction
(an  "Offer"),  the greater of (i) the highest  price per share of common  stock
paid  pursuant to the Offer,  or (ii) the highest fair market value per share of
common  stock  during the  ninety-day  period  ending on the date of a Change of
Control or going private transaction.  Any securities or property which are part
or all of the  consideration  paid for shares of common stock in the Offer shall
be valued in  determining  the  Offer  Price per share at the  higher of (A) the
valuation placed on such securities or property by the Company,  person or other
entity  making  such offer or (B) the  valuation  placed on such  securities  or
property by the Committee.

         "Merger  price  per  share"  shall  mean,  in  the  case  of a  merger,
consolidation,  sale,  exchange or other disposition of assets that results in a
Change of Control or going private transaction (a "Merger"),  the greater of (i)
the fixed or  formula  price  for the  acquisition  of  shares  of common  stock
occurring  pursuant to the Merger,  and (ii) the highest  fair market  value per
share of common stock during the  ninety-day  period  ending on the date of such
Change of Control or going private transaction. Any securities or property which
are part or all of the consideration paid for shares of common stock pursuant to
the Merger  shall be valued in  determining  the  merger  price per share at the
higher  of (A) the  valuation  placed  on such  securities  or  property  by the
Company, person or other entity which is a party with the Company to the Merger,
or (B) the valuation placed on such securities or property by the Committee.

         "Acquisition price per share" shall mean the greater of (i) the highest
price per share stated on the Schedule 13D or any amendment thereto filed by the
holder of twenty percent (20%) or more of the Company's voting power which gives
rise to the Change of Control or going private transaction, and (ii) the highest
fair market value per share of common stock during the ninety-day  period ending
on the date of such Change of Control or going private transaction.

                                      -9-

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