<SEC-DOCUMENT>0000003499-11-000012.txt : 20110602
<SEC-HEADER>0000003499-11-000012.hdr.sgml : 20110602
<ACCEPTANCE-DATETIME>20110602172800
ACCESSION NUMBER:		0000003499-11-000012
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110526
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110602
DATE AS OF CHANGE:		20110602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALEXANDERS INC
		CENTRAL INDEX KEY:			0000003499
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				510100517
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06064
		FILM NUMBER:		11889467

	BUSINESS ADDRESS:	
		STREET 1:		210 ROUTE 4 EAST
		CITY:			PARAMUS
		STATE:			NJ
		ZIP:			07652
		BUSINESS PHONE:		201-587-1000

	MAIL ADDRESS:	
		STREET 1:		210 ROUTE 4 EAST
		CITY:			PARAMUS
		STATE:			NJ
		ZIP:			07652
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>alx8k6211.htm
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<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">UNITED STATES</font></b></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SECURITIES AND
EXCHANGE COMMISSION</font></b></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Washington, D.C.
20549</font></b></p>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FORM 8-K</font></b></p>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<h1 style="margin:0pt;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:auto;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;">CURRENT REPORT</font></b></h1>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PURSUANT TO
SECTION 13 OR 15(d) OF THE</font></b></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SECURITIES
EXCHANGE ACT OF 1934</font></b></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;margin-top:6.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date
of Report (Date of earliest event reported):</font></b></p>

<h1 style="margin:0pt;margin-bottom:.0001pt;page-break-after:auto;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;">May 26, 2011</font></b></h1>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;margin-top:6.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ALEXANDER&#8217;S,
INC.</font></b></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(Exact Name of
Registrant as Specified in Charter)</font></b></p>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

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  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Delaware</font></b></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">No. 001-06064</font></b></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">No. 51-0100517</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(State or Other</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Commission</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(IRS Employer</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Jurisdiction of</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">File Number)</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Identification No.)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Incorporation)</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=65% style="border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">210 Route 4 East<br>
  Paramus, New Jersey</font></b></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">07652</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=65% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Address of Principal Executive offices)</font></p>
  </td>
 <td valign=bottom width=4% style="padding:0pt .7pt 0pt .7pt;">
  <p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="padding:0pt .7pt 0pt .7pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

</div>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<h2 align=center style="margin:0pt;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:auto;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Registrant&#8217;s telephone number, including
area code: (201) 587-8541</font></b></h2>

<p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Former name or former address, if changed since last report:
N/A</font></b></p>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt;margin-bottom:6.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing <br>
obligation of the registrant under any of the following provisions (see General
Instructions A.2.):</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=6% style="padding:0pt 0pt 0pt 0pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face=Wingdings style="font-size:12.0pt;">o</font></p>
  </td>
 <td valign=top width=94% style="padding:0pt 0pt 0pt 0pt;">
  <p style="margin-bottom:6.0pt;margin-left:0pt;margin-right:0pt;margin-top:0pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  </font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=6% style="padding:0pt 0pt 0pt 0pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face=Wingdings style="font-size:12.0pt;">o</font></p>
  </td>
 <td valign=top width=94% style="padding:0pt 0pt 0pt 0pt;">
  <p style="margin:0pt;margin-bottom:6.0pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=6% style="padding:0pt 0pt 0pt 0pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face=Wingdings style="font-size:12.0pt;">o</font></p>
  </td>
 <td valign=top width=94% style="padding:0pt 0pt 0pt 0pt;">
  <p style="margin:0pt;margin-bottom:6.0pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b)) </font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=6% style="padding:0pt 0pt 0pt 0pt;">
  <p align=center style="margin:0pt;margin-bottom:.0001pt;text-align:center;"><font face=Wingdings style="font-size:12.0pt;">o</font></p>
  </td>
 <td valign=top width=94% style="padding:0pt 0pt 0pt 0pt;">
  <p style="margin:0pt;margin-bottom:6.0pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c)) </font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:double windowtext 4.5pt;padding:0pt 0pt 1.0pt 0pt;">

<p style="border:none;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0pt;padding:0pt;text-align:right;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

</div>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0pt;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




<p style="margin:0pt;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>


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<P style="TEXT-INDENT: -72pt; MARGIN: 0pt 0pt 0pt 72pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">Item 5.02.&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.</FONT></B></P>

<P style="TEXT-INDENT: -72pt; MARGIN: 0pt 0pt 0pt 72pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">On May 26, 2011, Alexander&#8217;s, Inc. (the &#8220;Company&#8221;) granted each of the members of its Board of Directors, 131 Deferred Stock Units.&nbsp; The Deferred Stock Units were granted pursuant to the Company&#8217;s 2006 Omnibus Stock Plan which was approved by the Company&#8217;s stockholders in 2006.&nbsp; The Deferred Stock Units entitle the holder to receive 131 shares of the Company&#8217;s common stock without the payment of any consideration.&nbsp; The Deferred Stock Units vest immediately but the shares of common stock underlying the units are not deliverable to the <FONT style="FONT-SIZE: 10pt" face="Times New Roman">grantee </FONT>until the grantee is no longer serving on the Company&#8217;s Board of Directors.&nbsp; A copy of the Deferred Stock Unit Agreement is attached as Exhibit 99.1 hereto and is incorporated herein by reference.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">Item 9.01.&nbsp; Financial Statements and Exhibits.</FONT></B></P>

<P style="MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></P>

<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></P>

<P style="TEXT-INDENT: 36pt; MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alexander&#8217;s, Inc. 2006 Omnibus Stock Plan Deferred Stock Unit Grant Agreement.</FONT></P>

<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt">&nbsp;</H1>

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<P style="TEXT-ALIGN: center">2</P>

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<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>
<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">SIGNATURE</FONT></B></H1>
<P style="TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
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      <P style="MARGIN: 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">ALEXANDER&#8217;S, INC.</FONT></B></P></TD></TR>
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      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">(Registrant)</FONT></P></TD></TR>
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      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">&nbsp;By:</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=bottom width="74%">
      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif"><BR>&nbsp;/s/ Joseph Macnow</FONT></P>
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      &nbsp;</DIV></TD></TR>
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      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">&nbsp;Name:</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=bottom width="74%">
      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">Joseph Macnow</FONT></P></TD></TR>
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      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">&nbsp;Title:</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=bottom width="74%">
      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">Executive Vice President and</FONT></P>
      <P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman,serif">Chief Financial
  Officer</FONT></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>
<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">Date: June 2, 2011</FONT></P>
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<P style="TEXT-ALIGN: center">3</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">EXHIBIT INDEX</FONT></P>

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<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman,serif">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alexander&#8217;s, Inc. 2006 Omnibus Stock Plan Deferred Stock Unit Grant Agreement.</FONT></P>

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<P align=right>EXHIBIT 99.1</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">ALEXANDER&#8217;S, INC. 2006 OMNIBUS STOCK PLAN<BR>DEFERRED STOCK UNIT GRANT AGREEMENT</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">DEFERRED STOCK UNIT GRANT AGREEMENT (the &#8220;Grant Agreement&#8221;) made as of date set forth on </FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Schedule&nbsp;A&nbsp;</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"> hereto between ALEXANDER&#8217;S, INC., a Delaware corporation (the &#8220;</FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Company</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">&#8221;), and the director of the Company&#8217;s Board &nbsp;named on </FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Schedule&nbsp;A&nbsp;</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"> (the &#8220;</FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Grantee</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">&#8221;).&nbsp;</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0pt" align=center><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">RECITALS</FONT></U></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In accordance with the Alexander&#8217;s, Inc. 2006 Omnibus Stock Plan, as it may be amended or modified from time to time (the &#8220;</FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Plan</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">&#8221;), the Company desires in connection with the Grantee&#8217;s service as a member of the Board of Directors of the Company, to provide the Grantee with an opportunity to acquire the Company&#8217;s common shares, par value $1.00 per share (the &#8220;</FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Shares</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">&#8221;), and thereby provide additional incentive for the Grantee to promote the progress and success of the business of the Company and its subsidiaries.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Schedule&nbsp;A&nbsp;</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"> hereto sets forth certain significant details of the deferred stock unit grant herein and is incorporated herein by reference. &nbsp;Capitalized terms used herein and not otherwise defined have the meanings provided by the Plan.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">NOW, THEREFORE, the Company and the Grantee hereby agree as follows:</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0pt" align=center><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">AGREEMENT</FONT></U></P>

<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">1.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Grant of Restricted Stock</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">. &nbsp;On the terms and conditions set forth herein, as well as the terms and conditions of the Plan, the Company hereby grants to the Grantee such number of deferred stock units as is set forth on </FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Schedule&nbsp;A&nbsp;</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif"> (the &#8220;</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">DSUs</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">&#8221;).&nbsp; Each DSU constitutes an unfunded and unsecured promise of the Company to deliver (or cause to be delivered) to Grantee, subject to the terms and conditions of this Grant Agreement, one Share on the Delivery Date as provided herein.&nbsp; Until such delivery, Grantee shall have only the rights of a general unsecured creditor and no rights as a shareholder of the Company.&nbsp; This grant is subject to all terms and provisions of the Plan and this Grant Agreement</FONT><B><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">.&nbsp;</FONT></B></H1>

<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">2.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Delivery</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">. &nbsp;&nbsp;</FONT></H1>

<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">(a)</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">In General</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.&nbsp; Except as provided below in this Paragraph 2 and subject to Paragraphs 5 and 12, the Delivery Date shall be on the third business day following the date on which Grantee ceases to be a member of the Board of Directors of the Company.&nbsp; </FONT></H1>

<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">(b)</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Death</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.&nbsp; Notwithstanding any other Paragraph of this Grant Agreement (except Paragraph 12), if Grantee dies prior to the Delivery Date, the Shares corresponding to Grantee&#8217;s outstanding DSUs shall be delivered to the representative </FONT></H1>

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<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">of
Grantee&#8217;s estate as soon as practicable after the date of death and after such
documentation as may be requested by the Committee is provided to the
Committee.&nbsp; The Committee may adopt procedures pursuant to which Grantee
may be permitted to specifically bequeath some or all of his or her outstanding
DSUs under Grantee&#8217;s will to an organization described in Sections 501(c)(3) and
2055(a) of the Code (or such other similar charitable organization as may be
approved by the Committee).</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">3.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Dividend Equivalent Rights</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.&nbsp; Prior to the delivery of Shares pursuant to
this Grant Agreement, at the time of distribution of any regular cash dividend
paid by the Company in respect of the Common Stock, Grantee shall be entitled to
receive an amount in cash equal to such regular cash dividend payment as would
have been made in respect of the Shares not yet delivered, as if the Shares had
been actually delivered.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">4.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Non-transferability</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.&nbsp; Except as may otherwise be provided in this
Paragraph or as otherwise may be provided by the Committee, the limitations set
forth in Section 14 of the Plan shall apply to this Grant.&nbsp; Any purported
transfer or assignment in violation of the provisions of this Paragraph 4 or
Section 14 of the Plan shall be void.&nbsp; The Committee may adopt procedures
pursuant to which Grantee may transfer some or all of his or her DSUs through a
gift for no consideration to any child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law,
including adoptive relationships, any person sharing the recipient&#8217;s household
(other than a tenant or employee), a trust in which these persons have more than
50% of the beneficial interest, and any other entity in which these persons (or
the recipient) own more than 50% of the voting interests.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">5.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Withholding, Consents and Legends</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;&nbsp;</FONT></H1>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(a)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">The
delivery of Shares is conditioned on Grantee&#8217;s satisfaction of any applicable
withholding taxes in accordance with Section 13 of the Plan.&nbsp; The Grantee
may elect to satisfy its withholding obligation due on delivery of Shares by
having the Company retain from that delivery the number of Shares whose fair
market value equals the amount required to be withheld.</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(b)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Grantee&#8217;s rights in respect of the DSUs are
conditioned on the receipt to the full satisfaction of the Committee of any
required consents that the Committee may determine to be necessary or
advisable.</FONT></P>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">(c)</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">The Company may affix to Certificates representing
Shares issued pursuant to this Grant Agreement any legend that the Committee
determines to be necessary or advisable.&nbsp; The Company may advise the
transfer agent to place a stop order against any legended Shares.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">6.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Notice</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;Any notice to be given to the Company shall be addressed to the Secretary
of the Company at 888 Seventh Avenue, New York, New York 10019 and to the Chief
Financial Officer at 210 Route 4 East, Paramus, New Jersey 07652 and any notice
to be given the Grantee shall be addressed to the Grantee at the Grantee&#8217;s
address as it </FONT></H1>
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<P style="TEXT-ALIGN: center">2</P>
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<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">appears on the records of the Company, or at such
other address as the Company or the Grantee may hereafter designate in writing
to the other.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">7.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Governing Law</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;This Grant Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware, without references to
principles of conflict of laws.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">8.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Successors and Assigns</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;This Grant Agreement shall be binding upon and inure to the benefit of the
parties hereto and any successors to the Company and any successors to the
Grantee by will or the laws of descent and distribution, but this Grant
Agreement shall not, except as provided in Paragraph 4, be assignable or
otherwise subject to hypothecation by the Grantee.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">9.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Severability</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;If, for any reason, any provision of this Grant Agreement is held invalid,
such invalidity shall not affect any other provision of this Grant Agreement not
so held invalid, and each such other provision shall to the full extent
consistent with law continue in full force and effect. &nbsp;If any provision of
this Grant Agreement shall be held invalid in part, such invalidity shall in no
way affect the rest of such provision not held so invalid, and the rest of such
provision, together with all other provisions of this Grant Agreement, shall to
the full extent consistent with law continue in full force and
effect.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">10.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Amendments; Plan Governs</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;This Grant Agreement may not be amended except in writing signed by the
Company and the Grantee.&nbsp; Notwithstanding the foregoing, this Grant
Agreement may be amended in writing signed only by the Company to: &nbsp;(a)
correct any errors or ambiguities in this Grant Agreement; and/or (b) to make
such changes that do not materially adversely affect the Grantee&#8217;s rights
hereunder.&nbsp; This grant shall in no way affect the Grantee&#8217;s participation
or benefits under any other plan or benefit program maintained or provided by
the Company. &nbsp;This Agreement and the Plan constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings relating to the subject
matter of this Agreement. &nbsp;In the event of a conflict between this Grant
Agreement and the Plan, the Plan shall govern.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">11.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">No Right to Continued Employment or
Service</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">. &nbsp;Nothing herein shall imply that any right
of the Grantee to remain in the service of the Company, whether as an employee,
director or in any other capacity.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">12.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Compliance of Grant Agreement and Plan with Section
409A</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.&nbsp; The provisions of this Paragraph 12 apply
to Grantee only if Grantee is a United States taxpayer.</FONT></H1>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(a)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">References in this Grant Agreement to &#8220;Section
409A&#8221; refer to Section 409A of the Code, including any amendments or successor
provisions to that Section and any regulations and other administrative guidance
thereunder, in each case as they, from time to time, may be amended or
interpreted through further administrative guidance.&nbsp; This Grant Agreement
and the Plan provisions that apply to this Grant are intended and shall be
construed to comply with Section 409A (including the requirements applicable to,
or the conditions for exemption from treatment as, a </FONT><a name="page_4"></a><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">&#8220;deferral of
compensation&#8221; or &#8220;deferred compensation&#8221; as those terms are defined in the
regulations under Section 409A (&#8220;409A deferred compensation&#8221;), whether by reason
of short-term deferral treatment or other exceptions or provisions).&nbsp; The
Committee shall have full authority to give effect to this intent.&nbsp; To the
extent necessary to give effect to this intent, in the case of any conflict or
potential inconsistency between the provisions of the Plan and this Grant
Agreement, the provisions of this Grant Agreement shall govern, and in the case
of any conflict or potential inconsistency between this Paragraph 12 and the
other provisions of this Grant Agreement, this Paragraph 12 shall
govern.</FONT></P>
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<DIV align=right>&nbsp;</DIV></DIV></DIV>
<P style="TEXT-ALIGN: center">3</P>
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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(b)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Delivery of Shares shall not be delayed beyond the
date on which all applicable conditions or restrictions on delivery of Shares in
respect of Grantee&#8217;s DSUs required by this Grant Agreement (including, without
limitation, those specified in Paragraphs 5(a) and (b)) are satisfied, and shall
occur by December 31 of the calendar year in which the Delivery Date occurs
unless, in order to permit such conditions or restrictions to be satisfied, the
Committee elects, pursuant to Treasury Regulations section (&#8220;</FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Reg.</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">&#8221;) 1.409A-1(b)(4)(i)(D) or otherwise as
may be permitted in accordance with Section 409A, to delay delivery of Shares to
a later date as may be permitted under Section 409A, including, without
limitation, Regs. 1.409A-2(b)(7) and 1.409A-3(d).</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(c)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Notwithstanding the provisions of Paragraph 2(a),
to the extent necessary to comply with Section 409A, any Shares that the Company
may deliver in respect of Grantee&#8217;s DSUs shall not have the effect of deferring
delivery or payment, income inclusion, or a substantial risk of forfeiture,
beyond the date on which such delivery, payment or inclusion would occur or such
risk of forfeiture would lapse, with respect to the Shares that would otherwise
have been deliverable (unless the Committee elects a later date for this purpose
pursuant to Reg. 1.409A-1(b)(4)(i)(D) or otherwise as may be permitted under
Section 409A, including, without limitation and to the extent applicable, the
subsequent election provisions of Section 409A(a)(4)(C) of the Code and Reg.
1.409A-2(b)).</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(d)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Notwithstanding the timing provisions of Paragraph
3 (b), the delivery of Shares referred to therein shall be made after the date
of death and during the calendar year that includes the date of death (or on
such later date as may be permitted under Section 409A).</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(e)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Notwithstanding any provision of Paragraph 3 to the
contrary, the dividend equivalent rights described in Paragraph 3 with respect
to each of Grantee&#8217;s outstanding DSUs shall be paid to Grantee within the
calendar year that includes the date of distribution of any corresponding
regular cash dividends paid by the Company in respect of a Share the record date
for which occurs on or after the Grant Date.&nbsp; The payment shall be in an
amount (less applicable withholding) equal to such regular dividend payment as
would have been made in respect of the Shares underlying such outstanding
DSUs.</FONT></P>
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<DIV align=right>&nbsp;</DIV></DIV></DIV>
<P style="TEXT-ALIGN: center">4</P>
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<P style="MARGIN: 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN: 6pt 0pt 6pt 36pt; punctuation-wrap: simple"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">(f)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Delivery of Shares in respect of this grant may be
made, if and to the extent elected by the Committee, later than the Delivery
Date or other date or period specified hereinabove (but, in the case of any
grant that constitutes 409A deferred compensation, only to the extent that the
later delivery is permitted under Section 409A).</FONT></P>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">13.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Headings</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;The headings of paragraphs hereof are included solely for convenience of
reference and shall not control the meaning or interpretation of any of the
provisions of this Grant Agreement.</FONT></H1>
<H1 style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">14.</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">Counterparts</FONT></U><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif">.
&nbsp;This Grant Agreement may be executed in multiple counterparts with the
same effect as if each of the signing parties had signed the same document.
&nbsp;All counterparts shall be construed together and constitute the same
instrument.</FONT></H1>
<H1 style="TEXT-INDENT: 72pt; MARGIN: 6pt 0pt"><FONT style="FONT-SIZE: 12pt; FONT-WEIGHT: normal" face="Times New Roman,serif"></FONT>&nbsp;</H1>
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0pt" align=center><I><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">[signature page
follows]</FONT></I></P>
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<P style="TEXT-ALIGN: center">5</P>
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<P style="TEXT-INDENT: 72pt; MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">IN WITNESS WHEREOF, this Deferred Stock
Unit Grant Agreement has been executed by the parties hereto as of the date and
year first above written.</FONT></P>
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<P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>
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      <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">ALEXANDER&#8217;S, INC.</FONT></P></TD></TR>
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    <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=top width="3%">
      <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">By:</FONT></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=top width="39%">
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    <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=top width="3%">
      <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=top width="39%">
      <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Name:</FONT></P></TD></TR>
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      <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Title:</FONT></P></TD></TR>
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      <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Grantee</FONT></P></TD></TR></TABLE></DIV>
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<P style="TEXT-ALIGN: center">6</P>
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<P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">SCHEDULE&nbsp;A TO </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">DEFERRED STOCK UNIT GRANT AGREEMENT</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 6pt" align=center><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Date of Deferred Stock Unit Grant Agreement:</FONT></P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Name of Grantee:</FONT></P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Number of Deferred Stock Units (&#8220;DSUs&#8221;) Subject to Grant:</FONT></P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">Grant Date:</FONT></P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=top width="48%">

   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" vAlign=top width="2%">

   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Initials of Company representative:&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif">Initials of Grantee:&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="MARGIN: 0pt 0pt 6pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center">7</P></DIV>

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