Coach 2013 Annual Report Download - page 621

TERMINATION OF OPTION AGREEMENT
THIS TERMINATION OF OPTION AGREEMENT (this “Termination”), made as of the ____ day of [__________], 20[__], by and
among Legacy Yards Tenant LLC, a Delaware limited liability company (“Legacy Tenant”), and Podium Fund Tower C SPV LLC, , a Delaware limited
liability company (“Tower C SPV”), each having an address c/o The Related Companies, L.P., 60 Columbus Circle, New York, New York 10023 (Legacy
Tenant and Tower C SPV are individually and collectively referred to herein as “Optionor”), and COACH LEGACY YARDS LLC, a Delaware limited
liability company, having an address c/o Coach, Inc., [______________________], New York, New York [_________] (“Optionee”).
WITNESSETH:
WHEREAS, Legacy Tenant is the owner on the date hereof of the [leasehold][fee] estate and interest in and to the condominium units
designated and described in that certain Declaration Establishing a Plan for Condominium Ownership of Premises located at 501 West 30 th Street, New York,
New York 10001, Pursuant to Article 9-B of the Real Property Law of the State of New York, dated as of [__________, 20__], made by the Metropolitan
Transportation Authority, a body corporate and politic constituting a public benefit corporation of the State of New York, as declarant ( as amended, modified,
supplemented or restated from time to time, the “Condominium Declaration”), as [Office Unit 2A, Office Unit 2B, and Office Unit 3] (each a “ Unit” and
collectively, the “Units”) and more particularly described on Exhibit A attached hereto, which Condominium Declaration was recorded in the New York
County Office of the Register of the City of New York (the “Register’s Office”), on [__________], 20[__], as City Register File No. _________.
WHEREAS, pursuant to that certain Option Agreement, dated as of [__________], 20[__] (the “ Agreement”), Optionor granted to
Optionee the right and option to purchase or lease [Office Unit 2A, Office Unit 2B, and a portion of Office Unit 3 consisting of the 23 rd Floor of the
Building]11 (collectively, the “Option”), on the terms and subject to the conditions set forth in the Agreement; and
WHEREAS, a Memorandum of Option Agreement (the “ Memorandum”), dated as of [__________], 20[__], was recorded in the
Register’s Office on [__________], 20[__], as City Register File No. _________, in order to provide third parties with notice of the existence of the Option.
NOW, THEREFORE, in consideration of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:
1. Optionor and Optionee hereby agree that the Agreement is terminated as of the Effective Date, and Optionor and Optionee shall have
no further liability to the other thereunder, except for such obligations as may be expressly stated in the Agreement to survive the termination or expiration
thereof.
11 To be updated prior to execution to reflect the addition of Office Unit 2A or Office Unit 2B to the Coach Unit pursuant to the Operating Agreement, if
applicable.
Exhibit I