FIRST AMENDMENT TO CREDIT AGREEMENT AND OTHER CREDIT DOCUMENTSCredit Agreement • August 6th, 2010 • Brookdale Senior Living Inc. • Services-nursing & personal care facilities • Illinois
THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND OTHER CREDIT DOCUMENTS (this “Amendment”) is entered into as of May 5, 2010 (the “Effective Date”), among GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (in its individual capacity, “GECC” and in its capacity as agent for the Lenders, together with its successors, “Administrative Agent”), the financial institutions other than GECC who are or hereafter become parties to the Credit Agreement (together with GECC, individually, a “Lender”, and collectively, the “Lenders”, as the context may require), THE PARTIES LISTED ON SCHEDULE 1 ATTACHED HERETO (each a “Borrower” and collectively, the “Borrowers”) and BROOKDALE SENIOR LIVING INC., a Delaware corporation (“Guarantor”).
Brookdale Senior Living Inc.Brookdale Senior Living Inc. • August 6th, 2010 • Services-nursing & personal care facilities • Tennessee
Reference is made to that certain employment agreement, dated [______] (the “Employment Agreement”), entered into between [Executive] (the “Executive”) and Brookdale Senior Living Inc., a Delaware corporation (the “Company”). Pursuant to this Letter Agreement, the Company and the Executive hereby mutually agree to terminate the Employment Agreement in its entirety in consideration of the Company’s adoption of the Severance Pay Policy, Tier I, (the “Policy”) attached hereto as Exhibit A, pursuant to which the Executive shall be an Eligible Employee (as such term is defined therein); provided that, the Company and the Executive hereby agree that, for purposes of applying the Policy to the Executive, the term Qualifying Separation from Service will include Executive’s voluntary Separation from Service for Good Reason (even in the absence of a Change of Control) and, as a result, Subsections 4(a)(i)(1) and 4(a)(ii)(1) of the Policy will be replaced with the versions of Subsections 4(a)(i)(
