Document:

AKR Ex. 10.5 Q2 2015

FORM OF
OMNIBUS AMENDMENT TO SERIES OF
ASSIGNMENTS AND ASSUMPTIONS OF CARRIED INTEREST

This Omnibus Amendment to the Series of Assignments and Assumptions of Carried Interest (the “Amendment”) made as of the __ of ___, 20__ by and between ACADIA REALTY LIMITED PARTNERSHIP, a Delaware limited partnership, having an office at 1311 Mamaroneck Avenue, Suite 260, White Plains, New York 10605 (”Assignor”) and __________________ [insert Assignee name], an individual residing in the State of New York (“Assignee”).

W I T N E S S E T H :

WHEREAS, the Assignor and Assignee executed [a][insert “series of” if multiple Assignments] Assignments and Assumptions of Carried Interest dated as follows: _______[, ______, and ______](the “Assignment” [insert “Assignments” if more than one]; and

WHEREAS, the Assignor desires to clarify that the distributions which may be made to Assignee are within the sole discretion of the Assignor; and

WHEREAS, the Assignee desires to clarify certain provisions regarding his rights to vest and to be paid the distributions notwithstanding anything to the contrary.

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, Assignor and Assignee hereby agree as follows:

1.Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Assignments.

2.The second paragraph of Section 5.ii. commencing with, “Notwithstanding any other agreement between Assignee and Company, ....” shall be deleted and the following substituted therefor:

“Notwithstanding any other agreement between Assignee and Company, upon Assignee’s: (I) voluntary termination of employment with the Company or (II) termination of employment by the Company for Cause (as defined below), any portion of the Assigned Interest which has not vested shall be forfeited.  Notwithstanding anything to the contrary aforesaid, following a Change of Control (as defined below) or if the Assignor or any wholly-owned affiliate terminates the Assignee’s employment without Cause (as defined below), or Assignee terminates his or her employment for Good Reason (as defined below), or upon the death, disability or retirement of the Assignee, any part of the Assigned Interest which has not vested shall vest in full as of the date of such aforementioned event.  If one of the aforementioned events occurs, then notwithstanding Section 8(b) of the Operating Agreement of the Fund III Special Member to the contrary, if distributions are made to the Assignor, the pro rata distributions shall be made to the Assignee.”

3.Except as expressly provided in this Amendment, all terms, conditions, representations, warranties and covenants contained in the Assignments shall remain in full force and effect, and are hereby ratified, confirmed and acknowledged by the parties hereto.

4.This Amendment shall be construed, interpreted and governed in accordance with the laws of the State of New York, without regard to the choice of laws provisions thereof.

5.This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one document.  All facsimile and electronically transmitted signatures shall be deemed as originals.

6.In the event of a conflict between this Amendment and the Assignments, the provisions of this Amendment shall govern and control.

IN WITNESS WHEREOF, Assignor and Assignee have executed and delivered this Amendment.

[Signature Page Immediately Follows]

		
	ASSIGNOR:
	ACADIA REALTY LIMITED PARTNERSHIP, a Delaware limited partnership

By:    Acadia Realty Trust, its general partner

By:                            
Robert Masters, Senior Vice President

ASSIGNEE:                                
[Insert Name of Assignee]Exhibit 10.1

 

CONSULTING AGREEMENT

 

THIS AGREEMENT (the
“Agreement”) is made effective as of the 1st day of August, 2015 (the “Effective Date”),
except as otherwise provide herein, among Omega Healthcare Investors, Inc. (the “Parent”), Omega Asset Management
LLC (the “Company”) and R. Lee Crabill, Jr. (the “Consultant”).

 

INTRODUCTION

 

The Consultant has
retired from the Company and its Affiliates effective July 31, 2015, and the term of the Employment Agreement effective March 31,
2015 among the Parent, the Company and the Consultant (the “Employment Agreement”) has been terminated as of
July 31, 2015. The Company wishes to allow the Consultant, having reached age 61 and performed 14 years of service to the Company
and its Affiliates, to retire without forfeiting incentive compensation that is attributable to services already performed. Further,
the Company recognizes that due in part to the Consultant’s long tenure with the Company and its Affiliates, the Consultant
has unique knowledge, experience and skills, and the Company has a unique need to engage the Consultant for an interim period to
assist in a smooth transition of his duties and knowledge to other officers. Accordingly, the parties desire to enter into an agreement
pursuant to which the Consultant will provide services to the Company from and after the Effective Date through December 31, 2015,
upon the terms set forth below.

 

NOW, THEREFORE, the
parties agree as follows:

 

		1.	Terms and Conditions of Engagement.

 

(a)         Engagement.  The
Consultant shall perform such business consulting and business advisory services to the Company as the Company may require from
time to time. The Consultant shall report to the Chief Executive Officer of the Company or to such person(s) as the Chief Executive
Officer shall designate.

 

(b)        Consultant
Relationship.  The Consultant is an independent contractor to the Company, and the Consultant shall not be an employee
of the Company. The Consultant is not an agent of the Company and shall have no right to bind the Company. The Company will report
all payments to be made under Sections 2(a) and 2(f) on Forms 1099 as payments to the Consultant for independent contracting services,
but will report the payments under Sections 2(b) through 2(e) on Form W-2 or Form 1099 to the extent that the Company determines
to be the appropriate reporting. The Consultant shall not be entitled to participate in any employee benefits or incentive compensation
plans or programs of the Company, except to the extent required by the continuing health coverage requirements of the Consolidated
Budget Reconciliation Act of 1985, as amended (“COBRA”) and Sections (2(b) through 2(e) of this Agreement. This
is a services contract for the services of the Consultant. The Consultant cannot subcontract the Consultant’s duties or cause
any other person or entity to perform the Consultant’s services. The Consultant shall devote sufficient business time and
efforts to the performance of services for the Company to complete the services within the time frames for completion established
by the Company. The Consultant shall use the Consultant’s best efforts in such endeavors. The Consultant shall also perform
the Consultant’s services with a level of care, skill, and diligence that a prudent professional acting in a like capacity
and familiar with such matters would use.

 

    	 

    	 

    

 

		2.	Compensation.

 

(a)         Fees.  The
Company shall pay the Consultant $250 per hour for the Consultant’s services hereunder.  The Consultant shall keep
a daily record of hours worked and submit such records to the Company on a weekly basis or with such other frequency as may be
required by the Company.  Payment shall be made in twice monthly installments in arrears.

 

(b)         Bonus.  Subject to Sections 2(g), 3 and 6, the Consultant shall be eligible to earn an unprorated annual bonus for 2015 pursuant to Section
2(b) of the Employment Agreement, which will be paid at the same time as annual bonuses for 2015 are paid to executive officers
of the Company.

 

(c)         Time-Based
Restricted Stock Units.  Subject to Sections 2(g), 3 and 6, the Consultant shall vest as of December 31, 2015 in
a total of 23,902 time-based restricted stock units under the Restricted Stock Units Award Agreements issued by Parent effective
December 31, 2013, January 1, 2014, and March 31, 2015, which shall be paid by January 10, 2016. The 23,902 units are comprised
of 8,960 units under the December 31, 2013 award agreement, 10,239 units under the January 1, 2014 award agreement and 4,703 units
under the March 31, 2015 award agreement.

 

(d)         Performance
Restricted Stock Units.  Subject to Sections 2(g), 3 and 6, the Consultant shall vest in the same number of performance
restricted stock units under the Performance Stock Units Agreements issued by Parent effective December 31, 2013, January 1, 2014,
and March 31, 2015, as if the Consultant had incurred a “Qualifying Termination” (as defined in such agreements) on
December 31, 2015, which vested units shall be paid when required by the terms of such agreements.  The number of vested
units under each such agreement is set forth below, based on the applicable level of performance achieved (threshold, target or
high) and based on an assumption that a “Change in Control” (as defined in such agreements) does not occur during the
applicable “Performance Period” (as defined in such agreements). If a Change in Control does occur during the applicable
Performance Period, the number of vested units will be determined under the applicable agreement, as modified by this subsection.

 

	Agreement date	 	Threshold	 	 	Target	 	 	High	 
	 	 	 	 	 	 	 	 	 	 
	December 31, 2013	 	 	 	 	 	 	 	 	 	 	 	 
	for 12/31/15 Performance Period end	 	 	365	 	 	 	7,686	 	 	 	18,968	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	December 31, 2013	 	 	 	 	 	 	 	 	 	 	 	 
	for 12/31/16 Performance Period end	 	 	365	 	 	 	7,669	 	 	 	18,925	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	January 1, 2014	 	 	487	 	 	 	10,239	 	 	 	25,267	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	March 31, 2015	 	 	92	 	 	 	2,351	 	 	 	5,822	 

 

(e)         Performance
LTIP Units.  Subject to Sections 2(g), 3 and 6, the Consultant shall vest in the same numbers of performance LTIP
units under the Performance LTIP Units

 

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Agreement issued by Parent
effective March 31, 2015, as if the Consultant had incurred a “Qualifying Termination” (as defined in such agreement)
on December 31, 2015, which shall be paid when required by the terms of such agreement.  The number of vested units under
such agreement is set forth below, based on the applicable level of performance achieved (threshold, target or high) and based
on an assumption that a “Change in Control” (as defined in such agreement) does not occur during the applicable “Performance
Period” (as defined in such agreement). If a Change in Control does occur during the applicable Performance Period, the number
of vested units will be determined under the applicable agreement, as modified by this subsection.

 

	Threshold	 	 	Target	 	 	High	 
	 	92	 	 	 	2,351	 	 	 	5,822	 

 

(f)          Expenses.  The
Consultant shall be entitled to be reimbursed in accordance with the policies of the Company, as adopted and amended from time
to time, for all reasonable and necessary expenses and business travel incurred by the Consultant in connection with the performance
of services hereunder; provided, however, the Consultant shall, as a condition of such reimbursement, submit verification of the
nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by the Company.

 

(g)         Release Contingency.  The
payments to the Consultant required by Sections 2(b) through 2(e) are contingent upon the Consultant executing the Release Agreement
attached hereto as Exhibit A (the “Release Agreement”) by August 22, 2015, and delivering it to the Company
by August 23, 2015 and not revoking the Release Agreement in accordance with its procedures within the revocation period provided
in the Release Agreement. If the Consultant fails to timely execute and deliver the Release Agreement or if the Consultant revokes
the Release Agreement within the revocation period provided in the Release Agreement, this Agreement shall thereupon automatically
terminate, without the requirement of any further action by any party.  

 

		3.	Termination.

 

(a)         Termination.  This
Agreement and the engagement of the Consultant by the Company hereunder shall automatically terminate effective at the close of
business on December 31, 2015, without the requirement of any further action by any party. Before December 31, 2015, this Agreement
and the engagement of the Consultant by the Company hereunder may be terminated only: (i) by mutual agreement of the parties; (ii)
by the Consultant with at least two (2) weeks’ notice; (iii) by the death of the Consultant, (iv) as provided in Section
2(g), as a result of the failure of the Consultant to timely execute and deliver the Release Agreement or as a result of the Consultant
revoking the Release Agreement or (v) by the Company, as a result of the Consultant’s material breach of this Agreement,
and if the breach is determined to be curable in the reasonable judgment of the Company, only if the Company has first given the
Consultant written notice of the breach and a reasonable opportunity to cure the same. Notice of termination shall be given prior
to termination in writing and shall specify the effective date of termination. Except for earned and accrued fees and expenses
under Sections 2(a) and 2(f), the Consultant shall not be entitled to any payments if this Agreement terminates for any reason
(other than due to the death of the Consultant) before December 31, 2015, and in such case (again, other than

 

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termination due to the death of the Consultant),
the Consultant shall forfeit all amounts payable under Sections 2(b) through 2(e).

 

(b)         Survival.  The
covenants of the Consultant in Sections 4 through 6 and shall survive the termination of this Agreement and shall not be extinguished
thereby.

 

		4.	Ownership and Protection of Proprietary Information.

 

(a)         Confidentiality.  All
Confidential Information and Trade Secrets of the Company and its Affiliates and all physical embodiments thereof received or developed
by the Consultant while engaged by the Company or the Parent are confidential to and are and will remain the sole and exclusive
property of the Company and its Affiliates. Except to the extent necessary to perform the duties assigned by the Parent or the
Company hereunder, and except to the extent required by law, the Consultant will hold such Confidential Information and Trade Secrets
in trust and strictest confidence, and will not use, reproduce, distribute, disclose or otherwise disseminate the Confidential
Information and Trade Secrets or any physical embodiments thereof and may in no event take any action causing or fail to take the
action necessary in order to prevent, any Confidential Information and Trade Secrets disclosed to or developed by the Consultant
to lose its character or cease to qualify as Confidential Information or Trade Secrets.

 

(b)         Return of
Company Property.  Upon request by the Company, and in any event upon termination of this Agreement for any reason,
as a prior condition to receiving any final compensation hereunder (including any payments pursuant to Section 3 hereof),
the Consultant will promptly deliver to the Company all property belonging to the Company and its Affiliates, including, without
limitation, all Confidential Information and Trade Secrets of the Company and its Affiliates (and all embodiments thereof) then
in the Consultant’s custody, control or possession.

 

(c)         Survival.  The
covenants of confidentiality set forth herein will apply on and after the date hereof to any Confidential Information and Trade
Secrets disclosed by the Company or an Affiliate or developed by the Consultant while employed or engaged by the Company or the
Parent prior to or after the date hereof. The covenants restricting the use of Confidential Information will continue to apply
for a period of two years following the termination of this Agreement.  The covenants restricting the use of Trade Secrets
will continue to apply following termination of this Agreement for so long as permitted by the governing law.

 

		5.	Non-Competition and Non-Solicitation Provisions.

 

The Consultant previously
agreed pursuant to Sections 4 and 5 of the Employment Agreement to be subject to certain nondisclosure, noncompetition, nonsolicitation
and nondisparagement obligations which survived his termination of employment. The Consultant confirms that he agrees to comply
with his obligations pursuant to Sections and 5 of the Employment Agreement.

 

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		6.	Remedies and Enforceability.

 

The Consultant agrees
that the covenants, agreements, and representations contained in Sections 4 and 5 hereof are of the essence of this Agreement;
that each of such covenants are reasonable and necessary to protect and preserve the interests and properties of the Company and
its Affiliates; that irreparable loss and damage will be suffered by the Company and its Affiliates should the Consultant breach
any of such covenants and agreements; that each of such covenants and agreements is separate, distinct and severable not only from
the other of such covenants and agreements but also from the other and remaining provisions of this Agreement; that the unenforceability
of any such covenant or agreement shall not affect the validity or enforceability of any other such covenant or agreements or any
other provision or provisions of this Agreement; and that (a) the Consultant shall forfeit any unpaid compensation under Sections
2(b) through 2(e) if the Consultant materially breaches a covenant in Sections 4 or 5 hereof, and (b) the Company and the Parent
shall be entitled to seek both temporary and permanent injunctions to prevent a breach or contemplated breach by the Consultant
of any of such covenants or agreements, in addition to other remedies available to them.  

 

		7.	Notice.

 

All notices, requests,
demands and other communications required hereunder shall be in writing and shall be deemed to have been duly given if delivered
or if mailed, by United States certified or registered mail, prepaid to the party to which the same is directed at the following
addresses (or at such other addresses as shall be given in writing by the parties to one another):

 

	If to the Company: 	Omega Healthcare Investors, Inc.
	 	Suite 3500
	 	200 International Circle
	 	Hunt Valley MD 21030
	 	Attn: Chief Executive Officer
	 	 
	If to the Executive:	to the last address the Company
	 	has on file for the Consultant

 

Notices delivered in person shall be effective
on the date of delivery. Notices delivered by mail as aforesaid shall be effective upon the fourth calendar day subsequent to the
postmark date thereof.

 

		8.	Miscellaneous.

 

(a)         Assignment.  The
rights and obligations of the Company and the Parent under this Agreement shall inure to the benefit of the Company’s and
the Parent’s successors and assigns.  This Agreement may be assigned by the Company or the Parent to any legal
successor to the Company’s or the Parent’s business or to an entity that purchases all or substantially all of the
assets of the Company or the Parent, but not otherwise without the prior written consent of the Consultant. In the event the Company
or the Parent assigns this Agreement as permitted by this Agreement and the Consultant remains engaged by the assignee, the “Company”
as defined herein will refer to the assignee and the Consultant will not be deemed to have terminated his

 

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engagement hereunder until the Consultant
terminates his engagement with the assignee. The Consultant may not assign this Agreement.

 

(b)         Waiver.  The waiver
of any breach of this Agreement by any party shall not be effective unless in writing, and no such waiver shall constitute the
waiver of the same or another breach on a subsequent occasion.

 

(c)         Governing Law.  This
Agreement shall be governed by and construed in accordance with the internal laws of the State of Maryland. The parties agree that
any appropriate state or federal court located in Baltimore, Maryland shall have jurisdiction of any case or controversy arising
under or in connection with this Agreement and shall be a proper forum in which to adjudicate such case or controversy. The parties
consent to the jurisdiction of such courts.

 

(d)         Entire Agreement.  This
Agreement embodies the entire agreement of the parties hereto relating to the subject matter hereof and supersedes all oral agreements,
and to the extent inconsistent with the terms hereof, all other written agreements. The parties agree that the term of the Employment
Agreement is terminated effective July 31, 2015 and that the Employment Agreement is hereby terminated effective July 31, 2015,
except as to the terms which survive termination, including Sections 4 and 5 of the Employment Agreement.  As of July
31, 2015, the Consultant resigns from all positions that he holds with the Parent, the Company and the Affiliates.  

 

(e)         Amendment.  This
Agreement may not be modified, amended, supplemented or terminated except by a written instrument executed by the parties hereto.

 

(f)          Severability.  Each
of the covenants and agreements hereinabove contained shall be deemed separate, severable and independent covenants, and in the
event that any covenant shall be declared invalid by any court of competent jurisdiction, such invalidity shall not in any manner
affect or impair the validity or enforceability of any other part or provision of such covenant or of any other covenant contained
herein.

 

(g)         Captions and Section Headings.  Except
as set forth in Section 9 hereof, captions and section headings used herein are for convenience only and are not a part of
this Agreement and shall not be used in construing it.

 

		9.	Definitions.

 

(a)         “Affiliate”
means any person, firm, corporation, partnership, association or entity that, directly or indirectly or through one or more intermediaries,
controls, is controlled by or is under common control with the Company, as determined by the Company.

 

(b)         “Confidential
Information” means data and information relating to the business of the Company or an Affiliate (which does not rise
to the status of a Trade Secret) which is or has been disclosed to the Consultant or of which the Consultant became aware as a
consequence of or through his relationship to the Company or an Affiliate and which has value to the Company or an Affiliate and
is not generally known to its competitors. Confidential Information shall not include any data or information that has been voluntarily
disclosed to the public by the

 

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Company or an Affiliate
(except where such public disclosure has been made by the Consultant without authorization) or that has been independently developed
and disclosed by others, or that otherwise enters the public domain through lawful means without breach of any obligations of confidentiality
owed to the Company or any of its Affiliates by the Consultant.

 

(c)         “Trade
Secrets” means information including, but not limited to, technical or nontechnical data, formulae, patterns, compilations,
programs, devices, methods, techniques, drawings, processes, financial data, financial plans, product plans or lists of actual
or potential customers or suppliers which (i) derives economic value, actual or potential, from not being generally known
to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or
use, and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.

 

IN WITNESS WHEREOF,
the Parent, the Company and the Consultant have each executed and delivered this Agreement as of the date first shown above.

 

	 	OMEGA
    HEALTHCARE INVESTORS, INC.
	 	 
	 	By:	/s/
    C. Taylor Pickett
	 	 	C Taylor
    Pickett, Chief Executive Officer
	 	 
	 	OHI
    ASSET MANAGEMENT LLC
	 	 
	 	By:	/s/ C.
    Taylor Pickett
	 	 	C Taylor
    Pickett, Chief Executive Officer
	 	 
	 	CONSULTANT
	 	 
	 	By:	/s/ R.
    Lee Crabill, Jr.
	 	 	  R. Lee
    Crabill, Jr.

 

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EXHIBIT A

 

RELEASE AGREEMENT

 

    	 

    	 

    

 

RELEASE AGREEMENT

 

This Agreement (this
“Agreement”) is made this ___ day of August, 2015, among Omega Healthcare Investors, Inc. (“Parent”),
OHI Asset Management LLC (“Employer”), and R. Lee Crabill, Jr. (“Employee”).

 

Introduction

 

On July 31, 2015, Employee
retired from the Company as an employee of the Company and an executive officer of Parent and the Company. Effective August 1,
2015, Employer, Parent and Employee entered into a Consulting Agreement (the “Consulting Agreement”).  

 

The Consulting Agreement
requires that as a condition to Employee’s right to receive payments under Sections 2(b) through 2(e) of the Consulting Agreement
(the “Incentive Payments”), Employee must execute this Agreement.

 

NOW, THEREFORE,
the parties agree as follows:

 

		1.	Employee has been offered twenty-one (21) days from receipt of this Agreement within which to consider
this Agreement. The effective date of this Agreement shall be the date eight (8) days after the date on which Employee signs
this Agreement (the “Effective Date”). For a period of seven (7) days following Employee’s execution of
this Agreement, Employee may revoke this Agreement, and this Agreement shall not become effective or enforceable until such seven
(7) day period has expired. Employee must communicate revocation of this Agreement in writing to the Employer no later than seven
(7) days following Employee’s execution of this Agreement.  Employee understands that he may sign the Agreement
at any time before the expiration of the twenty-one (21) day review period.  To the degree Employee chooses not to wait
twenty-one (21) days to execute this Agreement, it is because Employee freely and unilaterally chooses to execute this Agreement
before that time.  Employee’s signing of the Agreement triggers the commencement of the seven (7) day revocation
period.

 

		2.	In exchange for Employee’s execution of this Agreement and in full and complete settlement
of any claims as specifically provided in this Agreement, the Employer will provide Employee with the Incentive Payments in accordance
with and subject to the requirements of the Consulting Agreement.

 

		3.	Employee acknowledges and agrees that this Agreement is in compliance with the Age Discrimination
in Employment Act and the Older Workers Benefit Protection Act and that the releases set forth in this Agreement shall be applicable,
without limitation, to any claims brought under these Acts.

 

The release given by Employee
in this Agreement is given solely in exchange for the consideration set forth in Section 2 of this Agreement and such consideration
is in addition to anything of value that Employee was entitled to receive prior to entering into this Agreement.

 

Employee has been advised to
consult an attorney prior to entering into this Agreement,

 

    	 

    	 

    

 

and this provision of the Agreement
satisfies the requirement of the Older Workers Benefit Protection Act that Employee be so advised in writing.

 

By entering into this Agreement,
Employee does not waive any rights or claims that may arise after the date this Agreement is executed.

 

		4.	This Agreement shall in no way be construed as an admission by Employer
or Parent that it has acted wrongfully with respect to Employee or any other person or that Employee has any rights whatsoever
against Employer or Parent.  Employer and Parent specifically disclaim any liability to or wrongful acts against Employee
or any other person on the part of themselves, their employees or their agents.

 

		5.	As a material inducement to Employer and Parent to enter into this Agreement, Employee hereby irrevocably
releases Employer and Parent and each of the owners, stockholders, predecessors, successors, directors, officers, employees, representatives,
attorneys, affiliates (and agents, directors, officers, employees, representatives and attorneys of such affiliates) of Employer
and Parent and all persons acting by, through, under or in concert with them (collectively, the “Releasees”),
from any and all charges, claims, liabilities, agreements, damages, causes of action, suits, costs, losses, debts and expenses
(including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, including, but not limited
to, rights arising out of alleged violations of any contracts, express or implied, any covenant of good faith and fair dealing,
express or implied, or any tort, or any legal restrictions on Employer’s right to terminate employees, or any federal, state
or other governmental statute, regulation, or ordinance, including, without limitation: (1) Title VII of the Civil Rights Act of
1964, as amended by the Civil Rights Act of 1991 (race, color, religion, sex, and national origin discrimination); (2) the Employee
Retirement Income Security Act (“ERISA”); (3) 42 U.S.C. § 1981 (discrimination); (4) the Americans with
Disabilities Act (disability discrimination); (5) the Equal Pay Act; (6) the Age Discrimination in Employment Act; (7) the Older
Workers Benefit Protection Act;  (6) Executive Order 11246 (race, color, religion, sex, and national origin discrimination);
(7) Executive Order 11141 (age discrimination); (8) Section 503 of the Rehabilitation Act of 1973 (disability discrimination);
(9) negligence; (10) negligent hiring and/or negligent retention; (11) intentional or negligent infliction of emotional distress
or outrage; (12) defamation; (13) interference with employment; (14) wrongful discharge; (15) invasion of privacy;
or (16) violation of any other legal or contractual duty arising under the laws of the State of Maryland or the laws of the
United States (“Claim” or “Claims”), which Employee now has, or claims to have, or which
Employee at any time heretofore had, or claimed to have, or which Employee at any time hereinafter may have, or claim to have,
against each or any of the Releasees, in each case as to acts or omissions by each or any of the Releasees up to the time Employee
signs this Agreement.

 

		6.	The release in the preceding paragraph of this Agreement does not apply to (a) all employee
benefits which pursuant to the terms of any employee benefit plan of the Employer are earned or become payable, but which have
not yet been paid, and (b) pay for accrued but unused vacation that Employer is legally obligated to pay Employee, if any,
and only if the Employer is so obligated, (c) unreimbursed business expenses for which Employee is entitled to reimbursement
under Employer’s policies, (d) any rights to indemnification that Employee has under any directors and officers or other
insurance policy Employer maintains or under the bylaws and articles of incorporation of Employer, and under any indemnification

 

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			agreement, if any, and (e) any rights the Employee may have (if any) to workers compensation benefits.

 

		7.	Employee promises that he will not make statements disparaging to any of the Releasees.  Employee
agrees not to make any statements about any of the Releasees to the press (including without limitation any newspaper, magazine,
radio station or television station) or in any social or electronic media outlet without the prior written consent of Employer.  The
obligations set forth in the two immediately preceding sentences will expire two years after the Effective Date.  Employee
will also cooperate with Employer and its affiliates if Employer requests Employee’s testimony.  To the extent
practicable and within the control of Employer, Employer will use reasonable efforts to schedule the timing of Employee’s
participation in any such witness activities in a reasonable manner to take into account Employee’s then current employment,
and will pay the reasonable documented out-of-pocket expenses that Employer pre-approves and that Employee incurs for travel required
by Employer with respect to those activities.

 

		9.	Except as set forth in this Section, Employee agrees not to disclose the existence or terms of
this Agreement to anyone.  However, Employee may disclose it to a member of his immediate family or legal or financial
advisors if necessary and on the condition that the family member or advisor similarly does not disclose these terms to anyone.  Employee
understands that he will be responsible for any disclosure by a family member or advisor as if he had disclosed it himself.  This
restriction does not prohibit Employee’s disclosure of this Agreement or its terms to the extent necessary during a legal
action to enforce this Agreement or to the extent Employee is legally compelled to make a disclosure.  However, Employee
will notify Employer promptly upon becoming aware of that legal necessity and provide it with reasonable details of that legal
necessity.

 

		10.	Employee has not filed or caused to be filed any lawsuit, complaint or charge with respect to any
Claim he releases in this Agreement.  Employee promises never to file or pursue a lawsuit, complaint or charge based
on any Claim released by this Agreement, except that Employee may participate in an investigation or proceeding conducted by an
agency of the United States Government or of any state.  Notwithstanding the foregoing, Employee is not prohibited from
filing a charge with the Equal Employment Opportunity Commission but expressly waives his right to personal recovery as a result
of such charge.  Employee also has not assigned or transferred any claim he is releasing, nor has he purported to do
so.  

 

		11.	Employer, Parent and Employee agree that the terms of this Agreement shall be final and binding
and that this Agreement shall be interpreted, enforced and governed under the laws of the State of Maryland.  The provisions
of this Agreement can be severed, and if any part of this Agreement is found to be unenforceable, the remainder of this Agreement
will continue to be valid and effective.

 

		12.	This Agreement sets forth the entire agreement among Employer, Parent and Employee and fully supersedes
any and all prior agreements or understandings, written and/or oral, between Employer and Employee pertaining to the subject matter
of this Agreement.

 

		13.	Employee is solely responsible for the payment of any fees incurred as the result of an attorney
reviewing this agreement on behalf of Employee.  In any litigation concerning the validity or enforceability of this
contract or in any litigation to enforce the provisions of this

 

    	3

    	 

    

 

			contract, the prevailing party shall be entitled to recover reasonable attorneys’ fees and
costs, including court costs and expert witness fees and costs.

 

Employee’s signature below indicates
Employee’s understanding and agreement with all of the terms in this Agreement.

 

Employee should take this Agreement home
and carefully consider all of its provisions before signing it. Employee may take up to twenty-one (21) days to decide whether
Employee wants to accept and sign this Agreement.  Also, if Employee signs this Agreement, Employee will then have an
additional seven (7) days in which to revoke Employee’s acceptance of this Agreement after Employee has signed
it.  This Agreement will not be effective or enforceable, nor will any consideration be paid, until after the seven (7)
day revocation period has expired. Again, Employee is free and encouraged to discuss the contents and advisability of signing this
Agreement with an attorney of Employee’s choosing.

 

Employee
should read carefully.  This agreement includes a release of all known and unknown claims through the effective date.  Employee
is strongly advised to consult with an attorney before executing this document.

 

IN WITNESS WHEREOF,
Parent, Employer and Employee have executed this Agreement effective as of the date first written above.

 

	 	OMEGA
    HEALTHCARE INVESTORS, INC.
	 	 
	 	By:	 
	 	 	C Taylor
    Pickett, Chief Executive Officer
	 	 
	 	OHI
    ASSET MANAGEMENT LLC
	 	 
	 	By:	 
	 	 	C Taylor
    Pickett, Chief Executive Officer
	 	 
	 	EMPLOYEE
	 	 
	 	By:	 
	 	 	  R. Lee
    Crabill, Jr.
	 	 	 
	 	 
	 	 	  Date Signed

 

    	4

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