Special Option Program under the Initial Option Award Agreement
Exhibit
10.06
Special
Option Program under the
1997
Long Term Incentive Plan
Agreement,
dated as of December 7, 2007, among AllianceBernstein L.P. (“Partnership”),
AllianceBernstein Holding L.P. (“Holding”) and
<PARTC_NAME> (“Participant”), an employee of the Partnership or a
subsidiary of the Partnership.
Whereas,
The Compensation Committee (“Committee” or “Administrator”) of the Board
of Directors (“Board”) of AllianceBernstein Corporation (“Corporation”),
pursuant to the Partnership’s Amended and Restated 1997 Long Term Incentive Plan
(“Plan”), a copy of which has been delivered electronically to the Participant,
has granted to the Participant an award (“Award”) consisting of (i) options
(“Initial Options”) to purchase units representing assignments of the
beneficial ownership of limited partnership interests in Holding (“Units”)
that vest over the first five anniversaries of grant date, and (ii) options
(“Match Options”) to purchase Units that vest over the next five anniversaries
of grant date.
Now,
Therefore,
in accordance with the grant of
the Award, and as a condition thereto, the Partnership, Holding and the
Participant agree as follows:
1. Grant. Subject
to and under the terms and conditions set forth in this Agreement and the Plan,
the Committee hereby awards the Participant Initial Options, which permit the
Participant to purchase from the Partnership the number of Units set forth in
Section 1 of Schedule A, at the per Unit price set forth in Section 2 of
Schedule A, subject to the vesting schedule set forth in Section 3 of Schedule A
(Match Options are granted
pursuant to a Match Award Agreement, dated as of December 7, 2007, among the
parties hereto).
2. Term
and Vesting Schedule. (a) The Initial Options
shall not be exercisable to any extent prior to December 7, 2008 or after
December 7, 2017 (“Initial Option Expiration Date”). Subject
to the terms and conditions of this Agreement and the Plan, the Participant
shall be entitled to exercise the Initial Options prior to the Initial Option
Expiration Date and to purchase Units pursuant to the Initial Options in
accordance with the schedule set forth in Section 3 of Schedule A.
(b) The right to exercise the Initial
Options shall be cumulative so that to the extent the Initial Options are not
exercised when they become initially exercisable with respect to any Units, they
shall be exercisable with respect to such Units at any time thereafter until the
Initial Option Expiration Date, subject to any guidelines or restrictions in the
Partnership’s Code of Business Conduct and Ethics or the U.S. federal securities
laws. Options awarded hereunder may not be exercised after the
Initial Option Expiration Date (i.e., any Units subject to the Options that have
not been purchased on or before the Initial Option Expiration Date may no longer
be purchased). A Unit shall be considered to have been purchased on
or before the Initial Option Expiration Date if the Partnership has been given
notice of the purchase and the Partnership has actually received payment
therefor, pursuant to Sections 3, 7 and 15, on or before the Initial Option
Expiration Date.
3. Notice of Exercise, Payment,
Certificate and Account. Exercise of the Initial Options, in
whole or in part, shall be by delivery of a written notice to the Partnership
and Holding pursuant to Section 15 which specifies the number of Units being
purchased and is accompanied by payment therefor in cash. The
Participant may pay the Partnership as many as three business days subsequent to
exercise date and may pay the Partnership directly or through a financial
intermediary. Promptly after receipt of such notice and purchase
price, the Partnership shall cause the Partnership’s transfer agent to deliver
the number of Units purchased. Units to be issued upon the exercise
of Initial Options may be authorized and newly-issued Units or Units that have
been reacquired by the Partnership, a subsidiary of the Partnership, Holding, or
a subsidiary of Holding.
4.
Termination.The
Initial Options may be exercised by the Participant only while the
Participant is employed full-time by the Partnership, except as
follows:
(a) Disability. If
the Participant’s employment with the Partnership terminates because of
Disability, the Participant (or the Participant’s personal representative) shall
have the right to exercise all outstanding Initial Options held by the
Participant (and not previously cancelled or expired) for a period which ends
not later than the earlier of (i) three months after such termination, and (ii)
the Initial Option Expiration Date. “Disability” shall mean a determination
by the Administrator that the Participant is physically or mentally
incapacitated and has been unable for a period of six consecutive months to
perform the duties for which the Participant was responsible immediately before
the onset of incapacity. In order to assist the Administrator in
making a determination as to the Disability of the Participant for purposes
of this paragraph (a), the Participant shall, as reasonably requested by
the Administrator, (A) be available for medical examinations by one or more
physicians chosen by the Administrator and approved by the Participant, whose
approval shall not unreasonably be withheld, and (B) grant the
Administrator and any such physicians access to all relevant medical
information concerning the Participant, arrange to furnish copies of medical
records to them, and use best efforts to cause the Participant’s own physicians
to be available to discuss the Participant’s health with them.
(b) Death. If
the Participant dies (i) while in the employ of the Partnership, (ii) within one
month after termination of employment with the Partnership because of Disability
(as determined in accordance with paragraph (a) above), or (iii) within one
month after the Partnership terminates the Participant’s employment for any
reason other than for Cause (as determined in accordance with paragraph (c)
below), all outstanding Initial Options held by the Participant (and not
previously cancelled or expired) may be exercised by the person or persons to
whom the Initial Options shall have been transferred by will or by the laws of
descent and distribution for a period which ends not later than the earlier of
(A) six months from the date of the Participant’s death, and (B) the Initial
Option Expiration Date.
- 2
-
(c) Other
Termination. If the Partnership terminates the Participant's
employment for any reason other than death, Disability or for Cause, the
Participant shall have the right to exercise the Initial Options, to the extent
that the Participant was entitled to do so on the date of the termination of the
Participant’s employment, for a period which ends not later than the earlier of
(i) three months after such termination, and (ii) the Initial Option
Expiration Date. “Cause” shall mean (A) the Participant’s
continuing willful failure to perform the Participant’s duties as an employee
(other than as a result of total or partial incapacity due to physical or mental
illness), (B) gross negligence or malfeasance in the performance of the
Participant’s duties, (c) a finding by a court or other governmental body with
proper jurisdiction that an act or acts by the Participant constitutes (1) a
felony under the laws of the United States or any state thereof (or, if the
Participant’s place of employment is outside of the United States, a serious
crime under the laws of the foreign jurisdiction where the Participant is
employed, which crime if committed in the United States would be a felony under
the laws of the United States or the laws of New York), or (2) a violation of
federal or state securities law (or, if the Participant’s place of employment is
outside of the United States, of federal, state or foreign securities law) by
reason of which finding of violation described in this clause (2) the Board
determines in good faith that the continued employment of the Participant by the
Partnership would be seriously detrimental to the Partnership and its business,
(D) in the absence of such a finding by a court or other governmental body with
proper jurisdiction, such a determination in good faith by the Board by reason
of such act or acts constituting such a felony, serious crime or violation, or
(E) any breach by the Participant of any obligation of confidentiality or
non-competition to the Partnership.
For purposes of this Agreement,
employment by a subsidiary of the Partnership shall be deemed to be employment
by the Partnership. A “subsidiary” of the Partnership shall be any
corporation or other entity of which the Partnership and/or its subsidiaries (a)
have sufficient voting power (not depending on the happening of a contingency)
to elect at least a majority of its board of directors, or (b) otherwise have
the power to direct or cause the direction of its management and
policies.
5. No Right to Continued
Employment. The Initial Options shall not confer upon
the Participant any right to continue in the employ of the Partnership or any
subsidiary of the Partnership, and shall not interfere in any way with the right
of the Partnership to terminate the service of the Participant at any time for
any reason.
- 3
-
6. Non-Transferability. The
Initial Options are not transferable other than by will or the laws of descent
and distribution and, except as otherwise provided in Section 4, during the
lifetime of the Participant the Initial Options are exercisable only by the
Participant; except that Participant may transfer the Initial Options, without
consideration, subject to such rules as the Committee may adopt to preserve the
purposes of the Plan (including limiting such transfers to transfers by
Participants who are senior executives), to a trust solely for the benefit of
the Participant and the Participant's spouse, children or grandchildren
(including adopted children and grandchildren and step-children and
step-grandchildren) (each a “Permitted Transferee”).
7. Payment of Withholding
Tax. In the event that the Partnership or Holding determines
that any federal, state or local tax or any other charge is required by law to
be withheld with respect to the exercise of Initial Options, the Participant
shall, either directly or through a financial intermediary, promptly pay to the
Partnership, a subsidiary specified by the Partnership, Holding or a subsidiary
specified by Holding, no later than the third business day after exercise date,
an amount equal to such withholding tax or charge. If the Participant
does not promptly so pay the entire amount of such withholding tax or charge in
accordance with such notice, or make arrangements satisfactory to the
Partnership and Holding regarding payment thereof, the Partnership, any
subsidiary of the Partnership, Holding or any subsidiary of Holding may withhold
the remaining amount thereof from any amount due the Participant from the
Partnership, its subsidiary, Holding or its subsidiary.
8. Dilution and Other
Adjustments. The existence of the Award shall not impair the
right of the Partnership, Holding or their respective partners to, among other
things, conduct, make or effect any change in the Partnership’s or Holding’s
business, any distribution (whether in the form of cash, limited partnership
interests, other securities, or other property), recapitalization (including,
without limitation, any subdivision or combination of limited partnership
interests), reorganization, consolidation, combination, repurchase or
exchange of limited partnership interests or other securities of the Partnership
or Holding, issuance of warrants or other rights to purchase limited partnership
interests or other securities of the Partnership or Holding, or any
incorporation (or other change in form) of the Partnership or
Holding. In the event of such a change in the partnership interests
of the Partnership or Holding, the Board shall make such adjustments to the
Award, including the purchase price of the Units specified in Section 2 of
Schedule A, as it deems appropriate and equitable. In the event of
incorporation (or other change of form) of the Partnership or Holding,
the Board shall make such arrangements as it deems appropriate and equitable
with respect to the Award for the Participant to purchase stock in the resulting
corporation in place of the Units subject to the Initial Options. Any such
adjustment or arrangement may provide for the elimination of any fractional
Unit or shares of stock that might otherwise become subject to the Initial
Options. Any decision by the Board under this Section shall be final
and binding upon the Participant.
- 4
-
9. Rights as an Owner of a
Unit. The Participant (or a transferee of the Initial Options pursuant to
Sections 4 and 6 hereof) shall have no rights as an owner of a Unit with respect
to any Unit covered by the Initial Options until the Participant becomes the
holder of record of such Unit, which shall be deemed to occur at the time that
notice of purchase is given and payment in full is received by the
Partnership and Holding under Sections 3, 7 and 15 of this
Agreement. By such actions, the Participant (or such transferee)
shall be deemed to have consented to, and agreed to be bound by, all other
terms, conditions, rights and obligations set forth in the then current Amended
and Restated Agreement of Limited Partnership of Holding and the then current
Amended and Restated Agreement of Limited Partnership of the Partnership
(“Partnership Agreement”). Except as provided in Section 8 hereof, no
adjustment shall be made with respect to any Unit for any distribution for which
the record date is prior to the date on which the Participant becomes the holder
of record of the Unit, regardless of whether the distribution is ordinary or
extraordinary, in cash, securities or other property, or of any other
rights.
10. Electronic
Delivery. The Plan contemplates that each award under the Plan
shall be evidenced by an Award Agreement which shall be delivered to the
Participant. It is hereby understood that electronic delivery of this
Award Agreement constitutes delivery under the Plan.
11. Administrator. If
at any time there shall be no Committee, the Board shall be the
Administrator.
12. Governing
Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of New York.
13. Sections and
Headings. All section references in this Agreement are to
sections hereof for convenience of reference only and are not to affect the
meaning of any provision of this Agreement.
14. Interpretation. The
Participant accepts this Award subject to all the terms and provisions of the
Plan, which shall control in the event of any conflict between any provision of
the Plan and this Agreement, and accepts as binding, conclusive and final all
decisions or interpretations of the Administrator or Board upon any questions
arising under the Plan and/or this Agreement.
15. Notices. Any
notice under this Agreement shall be in writing and shall be deemed to have been
duly given when delivered personally (whether by hand or by facsimile) or
when deposited in the United States mail, registered, postage prepaid, and
addressed, in the case of the Partnership and Holding, to the Secretary at ▇▇▇▇
▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, or if the Partnership should
move its principal office, to such principal office, and, in the case of the
Participant, to his or her last permanent address as shown on the Partnership's
records, subject to the right of either party to designate some other address at
any time hereafter in a notice satisfying the requirements of this
Section.
- 5
-
16. Entire Agreement;
Amendment. This Agreement supersedes any and all existing
agreements between the Participant, the Partnership and Holding relating to the
Initial Options. It may not be amended except by a written agreement
signed by both parties.
| AllianceBernstein l.p. | |||
|
AllianceBernstein
Holding l.p.
|
|||
|
|
By:
|
/s/
▇▇▇▇▇▇
▇. ▇▇▇▇▇▇▇▇▇
|
|
|
▇▇▇▇▇▇
▇. ▇▇▇▇▇▇▇▇▇
|
|||
|
President
and Chief Operating Officer
|
To accept
the terms of this Initial Option Award Agreement, please click the “Accept”
button below:
ACCEPT
DECLINE
- 6
-
Schedule
A
to
Special
Option Program Agreement
Initial
Options
|
1.
|
The
number of Units that the Participant is entitled to purchase pursuant to
the Initial Options granted under this Agreement is <OPTS_GRANTED>.
|
|
2.
|
The per Unit
price to purchase Units pursuant to the Initial Options granted
under this Agreement is $80.46 per
Unit.
|
|
3.
|
Percentage
of Units With Respect to
|
Which the
Initial Options First Become
Exercisable on the Date
Indicated
|
1.
December 7, 2008
|
20.0%
|
|
2.
December 7, 2009
|
40.0%
|
|
3.
December 7, 2010
|
60.0%
|
|
4.
December 7, 2011
|
80.0%
|
|
5.
December 7, 2012
|
100.0%
|
Special
Option Program under the
1997
Long Term Incentive Plan
Match
Option Award Agreement
Agreement,
dated as of December 7, 2007, among AllianceBernstein L.P. (“Partnership”),
AllianceBernstein Holding L.P. (“Holding”) and
<PARTC_NAME> (“Participant”), an employee of the Partnership or a
subsidiary of the Partnership.
Whereas,
the Compensation Committee (“Committee” or “Administrator”) of the Board
of Directors (“Board”) of AllianceBernstein Corporation (“Corporation”),
pursuant to the Partnership’s Amended and Restated 1997 Long Term Incentive Plan
(“Plan”), a copy of which has been delivered electronically to the Participant,
has granted to the Participant an award (“Award”) consisting of (i) options
(“Initial Options”) to purchase units representing assignments of the
beneficial ownership of limited partnership interests in Holding (“Units”)
that vest over the first five anniversaries of grant date, and (ii) options
(“Match Options) to purchase Units that vest over the next five anniversaries of
grant date.
Now,
Therefore, in accordance with the grant of the Award, and as a condition
thereto, the Partnership, Holding and the Participant agree as
follows:
1. Grant. Subject
to and under the terms and conditions set forth in this Agreement and the Plan,
the Committee hereby awards the Participant Match Options, which permit the
Participant to purchase from the Partnership the number of Units set forth in
Section 1 of Schedule A, at the per Unit price set forth in Section 2 of
Schedule A, subject to the vesting schedule set forth in Section 3 of Schedule A
(Initial Options are granted
pursuant to an Initial Award Agreement, dated as of December 7, 2007, among the
parties hereto).
2. Term
and Vesting Schedule. (a)
The Match Options
shall not be exercisable to any extent prior to December 7, 2013 or after
December 7, 2018 (“Match Option Expiration Date”). Subject to
the terms and conditions of this Agreement and the Plan, the Participant
shall be entitled to exercise the Match Options prior to the Match Option
Expiration Date and to purchase Units pursuant to the Match Options in
accordance with the schedule set forth in Section 3 of Schedule A.
(b) The right to exercise the Match
Options shall be cumulative so that to the extent the Match Options are not
exercised when they become initially exercisable with respect to any Units, they
shall be exercisable with respect to such Units at any time thereafter until the
Match Option Expiration Date, subject to any guidelines or restrictions in the
Partnership’s Code of Business Conduct and Ethics or the U.S. federal securities
laws. Options awarded hereunder may not be exercised after the Match
Option Expiration Date (i.e., any Units subject to the Options that have not
been purchased on or before the Match Option Expiration Date may no longer be
purchased). A Unit shall be considered to have been purchased on or
before the Match Option Expiration Date if the Partnership has been given notice
of the purchase and the Partnership has actually received payment therefor,
pursuant to Sections 3, 7 and 15, on or before the Match Option Expiration
Date.
3. Notice of Exercise, Payment,
Certificate and Account. Exercise of the Match Options, in
whole or in part, shall be by delivery of a written notice to the Partnership
and Holding pursuant to Section 15 which specifies the number of Units being
purchased and is accompanied by payment therefor in cash. The
Participant may pay the Partnership as many as three business days subsequent to
exercise date and may pay the Partnership directly or through a financial
intermediary. Promptly after receipt of such notice and purchase
price, the Partnership shall cause the Partnership’s transfer agent to deliver
the number of Units purchased. Units to be issued upon the exercise
of Match Options may be authorized and newly-issued Units or Units that have
been reacquired by the Partnership, a subsidiary of the Partnership, Holding, or
a subsidiary of Holding.
4. Termination. The
Match Options may be exercised by the Participant only while the
Participant is employed full-time by the Partnership, except as
follows:
(a) Disability. If
the Participant’s employment with the Partnership terminates because of
Disability, the Participant (or the Participant’s personal representative) shall
have the right to exercise all outstanding Match Options held by the Participant
(and not previously cancelled or expired) for a period which ends not later than
the earlier of (i) three months after such termination, and (ii) the Match
Option Expiration Date. “Disability” shall mean a determination by the
Administrator that the Participant is physically or mentally incapacitated and
has been unable for a period of six consecutive months to perform the
duties for which the Participant was responsible immediately before the onset of
incapacity. In order to assist the Administrator in making a
determination as to the Disability of the Participant for purposes of this
paragraph (a), the Participant shall, as reasonably requested by the
Administrator, (A) be available for medical examinations by one or more
physicians chosen by the Administrator and approved by the Participant, whose
approval shall not unreasonably be withheld, and (B) grant the
Administrator and any such physicians access to all relevant medical
information concerning the Participant, arrange to furnish copies of medical
records to them, and use best efforts to cause the Participant’s own physicians
to be available to discuss the Participant’s health with them.
(b) Death. If
the Participant dies (i) while in the employ of the Partnership, (ii) within one
month after termination of employment with the Partnership because of Disability
(as determined in accordance with paragraph (a) above), or (iii) within one
month after the Partnership terminates the Participant’s employment for any
reason other than for Cause (as determined in accordance with paragraph (c)
below), all outstanding Match Options held by the Participant (and not
previously cancelled or expired) may be exercised by the person or persons to
whom the Match Options shall have been transferred by will or by the laws of
descent and distribution for a period which ends not later than the earlier of
(A) six months from the date of the Participant’s death, and (B) the Match
Option Expiration Date.
- 2
-
(c) Other
Termination. If the Partnership terminates the Participant's
employment for any reason other than death, Disability or for Cause, the
Participant shall have the right to exercise the Match Options, to the extent
that the Participant was entitled to do so on the date of the termination of the
Participant’s employment, for a period which ends not later than the earlier of
(i) three months after such termination, and (ii) the Match Option
Expiration Date. “Cause” shall mean (A) the Participant’s
continuing willful failure to perform the Participant’s duties as an employee
(other than as a result of total or partial incapacity due to physical or mental
illness), (B) gross negligence or malfeasance in the performance of the
Participant’s duties, (c) a finding by a court or other governmental body with
proper jurisdiction that an act or acts by the Participant constitutes (1) a
felony under the laws of the United States or any state thereof (or, if the
Participant’s place of employment is outside of the United States, a serious
crime under the laws of the foreign jurisdiction where the Participant is
employed, which crime if committed in the United States would be a felony under
the laws of the United States or the laws of New York), or (2) a violation of
federal or state securities law (or, if the Participant’s place of employment is
outside of the United States, of federal, state or foreign securities law) by
reason of which finding of violation described in this clause (2) the Board
determines in good faith that the continued employment of the Participant by the
Partnership would be seriously detrimental to the Partnership and its business,
(D) in the absence of such a finding by a court or other governmental body with
proper jurisdiction, such a determination in good faith by the Board by reason
of such act or acts constituting such a felony, serious crime or violation, or
(E) any breach by the Participant of any obligation of confidentiality or
non-competition to the Partnership.
For purposes of this Agreement,
employment by a subsidiary of the Partnership shall be deemed to be employment
by the Partnership. A “subsidiary” of the Partnership shall be any
corporation or other entity of which the Partnership and/or its subsidiaries (a)
have sufficient voting power (not depending on the happening of a contingency)
to elect at least a majority of its board of directors, or (b) otherwise have
the power to direct or cause the direction of its management and
policies.
5. No Right to Continued
Employment. The Match Options shall not confer upon the
Participant any right to continue in the employ of the Partnership or any
subsidiary of the Partnership, and shall not interfere in any way with the right
of the Partnership to terminate the service of the Participant at any time for
any reason.
- 3
-
6. Non-Transferability. The
Match Options are not transferable other than by will or the laws of descent and
distribution and, except as otherwise provided in Section 4, during the lifetime
of the Participant the Match Options are exercisable only by the Participant;
except that Participant may transfer the Match Options, without consideration,
subject to such rules as the Committee may adopt to preserve the purposes of the
Plan (including limiting such transfers to transfers by Participants who are
senior executives), to a trust solely for the benefit of the Participant and the
Participant's spouse, children or grandchildren (including adopted children and
grandchildren and step-children and step-grandchildren) (each a “Permitted
Transferee”).
7. Payment of Withholding
Tax. In the event that the Partnership or Holding determines
that any federal, state or local tax or any other charge is required by law to
be withheld with respect to the exercise of Match Options, the Participant
shall, either directly or through a financial intermediary, promptly pay to the
Partnership, a subsidiary specified by the Partnership, Holding or a subsidiary
specified by Holding, no later than the third business day after exercise date,
an amount equal to such withholding tax or charge. If the Participant
does not promptly so pay the entire amount of such withholding tax or charge in
accordance with such notice, or make arrangements satisfactory to the
Partnership and Holding regarding payment thereof, the Partnership, any
subsidiary of the Partnership, Holding or any subsidiary of Holding may withhold
the remaining amount thereof from any amount due the Participant from the
Partnership, its subsidiary, Holding or its subsidiary.
8. Dilution and Other
Adjustments. The existence of the Award shall not impair the
right of the Partnership, Holding or their respective partners to, among other
things, conduct, make or effect any change in the Partnership’s or Holding’s
business, any distribution (whether in the form of cash, limited partnership
interests, other securities, or other property), recapitalization (including,
without limitation, any subdivision or combination of limited partnership
interests), reorganization, consolidation, combination, repurchase or
exchange of limited partnership interests or other securities of the Partnership
or Holding, issuance of warrants or other rights to purchase limited partnership
interests or other securities of the Partnership or Holding, or any
incorporation (or other change in form) of the Partnership or
Holding. In the event of such a change in the partnership interests
of the Partnership or Holding, the Board shall make such adjustments to the
Award, including the purchase price of the Units specified in Section 2 of
Schedule A, as it deems appropriate and equitable. In the event of
incorporation (or other change of form) of the Partnership or Holding,
the Board shall make such arrangements as it deems appropriate and equitable
with respect to the Award for the Participant to purchase stock in the resulting
corporation in place of the Units subject to the Match Options. Any such
adjustment or arrangement may provide for the elimination of any fractional
Unit or shares of stock that might otherwise become subject to the Match
Options. Any decision by the Board under this Section shall be final
and binding upon the Participant.
- 4
-
9. Rights as an Owner of a
Unit. The Participant (or a transferee of the Match Options pursuant to
Sections 4 and 6 hereof) shall have no rights as an owner of a Unit with respect
to any Unit covered by the Match Options until the Participant becomes the
holder of record of such Unit, which shall be deemed to occur at the time that
notice of purchase is given and payment in full is received by the
Partnership and Holding under Sections 3, 7 and 15 of this
Agreement. By such actions, the Participant (or such transferee)
shall be deemed to have consented to, and agreed to be bound by, all other
terms, conditions, rights and obligations set forth in the then current Amended
and Restated Agreement of Limited Partnership of Holding and the then current
Amended and Restated Agreement of Limited Partnership of the Partnership
(“Partnership Agreement”). Except as provided in Section 8 hereof, no
adjustment shall be made with respect to any Unit for any distribution for which
the record date is prior to the date on which the Participant becomes the holder
of record of the Unit, regardless of whether the distribution is ordinary or
extraordinary, in cash, securities or other property, or of any other
rights.
10. Electronic
Delivery. The Plan contemplates that each award under the Plan
shall be evidenced by an Award Agreement which shall be delivered to the
Participant. It is hereby understood that electronic delivery of this
Award Agreement constitutes delivery under the Plan.
11. Administrator. If
at any time there shall be no Committee, the Board shall be the
Administrator.
12. Governing
Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of New York.
13. Sections and
Headings. All section references in this Agreement are to
sections hereof for convenience of reference only and are not to affect the
meaning of any provision of this Agreement.
14. Interpretation. The
Participant accepts this Award subject to all the terms and provisions of the
Plan, which shall control in the event of any conflict between any provision of
the Plan and this Agreement, and accepts as binding, conclusive and final all
decisions or interpretations of the Administrator or Board upon any questions
arising under the Plan and/or this Agreement.
15. Notices. Any
notice under this Agreement shall be in writing and shall be deemed to have been
duly given when delivered personally (whether by hand or by facsimile) or
when deposited in the United States mail, registered, postage prepaid, and
addressed, in the case of the Partnership and Holding, to the Secretary at ▇▇▇▇
▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, or if the Partnership should
move its principal office, to such principal office, and, in the case of the
Participant, to his or her last permanent address as shown on the Partnership's
records, subject to the right of either party to designate some other address at
any time hereafter in a notice satisfying the requirements of this
Section.
- 5
-
16. Entire Agreement;
Amendment. This Agreement supersedes any and all existing
agreements between the Participant, the Partnership and Holding relating to the
Options. It may not be amended except by a written agreement signed
by both parties.
|
AllianceBernstein
Holding l.p.
|
|||
|
|
By:
|
/s/ ▇▇▇▇▇▇
▇. ▇▇▇▇▇▇▇▇▇
|
|
|
▇▇▇▇▇▇
▇. ▇▇▇▇▇▇▇▇▇
|
|||
|
President
and Chief Operating Officer
|
To accept
the terms of this Match Option Award Agreement, please click the “Accept” button
below:
ACCEPT
DECLINE
- 6
-
Schedule
A
to
Special
Option Program Agreement
Match
Options
|
1.
|
The
number of Units that the Participant is entitled to purchase pursuant to
the Match Options granted under this Agreement is <OPTS_GRANTED>.
|
|
2.
|
The
per Unit price to purchase Units pursuant to the Match Options granted
under this Agreement is $80.46 per
Unit.
|
|
3.
|
Percentage
of Units With Respect to
|
Which the
Match Options First Become
Exercisable on the Date
Indicated
|
1.
December 7, 2013
|
20.0%
|
|
2.
December 7, 2014
|
40.0%
|
|
3.
December 7, 2015
|
60.0%
|
|
4.
December 7, 2016
|
80.0%
|
|
5.
December 7, 2017
|
100.0%
|