Amendment No. 1 to Exantas Capital Corp. Second Amended and Restated Omnibus Equity Compensation Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the Exantas Capital Corp. equity compensation plan by changing the name of the Manager from C-III to ACRES and removing references to Resource America. It also updates certain definitions and sections within the plan to reflect these changes. All other terms of the original plan remain unchanged. The amendment is effective as of August 9, 2020, and is authorized by the company's Board of Directors.

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EX-10.4 2 xan-ex104_264.htm EX-10.4 xan-ex104_264.htm

Exhibit 10.4

AMENDMENT NO. 1 TO THE EXANTAS CAPITAL CORP.

SECOND AMENDED AND RESTATED OMNIBUS EQUITY COMPENSATION PLAN

 

This Amendment No. 1 (“Amendment”) to the Exantas Capital Corp. Second Amended and Restated Omnibus Equity Compensation Plan (the “Plan”) is made pursuant to Section 19(a) of the Plan. Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Plan.

 

RECITALS

WHEREAS, the Company wishes to amend the Plan to change the name of the Manager and references to Resource America and C-III.

NOW, THEREFORE, the Plan is hereby amended as follows:

1.

All references in the Plan to “C-III” shall be replaced with “ACRES”.

2.

Section 2 titled “Definitions” is hereby amended as follows:

 

(a)

The following defined term shall be added as new Section 2(a), and the existing sections 2(a) through 2(c) shall be renumbered as 2(b) through 2(d): ““ACRES” means ACRES Capital Corp., a Delaware corporation.”

 

(b)

Existing Section 2(d) is hereby deleted in its entirety.

 

(c)

Section 2(q) is hereby amended and restated as follows: ““Manager” means ACRES Capital, LLC, a New York limited liability company.”

 

(d)

Section 2(cc) is hereby deleted in its entirety, all references in the Plan to “Resource America” shall be deleted and the existing sections 2(dd) through 2(jj) shall be renumbered as 2(cc) through 2(ii).

 

3.

All other terms and provisions of the Plan shall remain unchanged except as specifically modified herein.

 

 

By Order of the Board of Directors,

 

 

August 9, 2020

/s/ Mark Fogel

 

Chief Executive Officer