Exhibit 10.3
Guidelines for Transfer of Alliance Capital
Management L.P. Units
No transfer of ownership of the units of
Alliance Capital Management L.P. (the private partnership) is
permitted without prior approval of Alliance Capital and AXA
Equitable Life Insurance Company (“AXA
Equitable”).
Under the terms of the Transfer Program,
transfers of ownership will be considered once every calendar
quarter.
To sell your Units to a third
party:
•
You must first identify the buyer
for your Units. Alliance Capital can not maintain a list of
prospective buyers nor will Alliance Capital act as a
buyer.
•
The unitholder and the prospective
buyer must submit a request for transfer of ownership of the Units
and obtain approval of Alliance Capital and AXA Equitable for the
transaction.
•
Documentation required for
consideration of approval includes:
•
Unit Certificate(s)
•
Executed “Stock” Power
Form, with guaranteed signature
•
Letter from Seller
•
Letter from Purchaser
To have private Units re-registered to your name
if they have been left to you by a deceased party:
•
The beneficiary must obtain approval
of Alliance Capital and AXA Equitable for the transfer of
units.
•
Documentation required for
consideration of approval includes:
•
Unit Certificate(s)
•
Executed “Stock” Power
Form, with guaranteed signature
•
Copy of death certificate
•
Required Inheritance Tax Waiver for
applicable states
•
Additional required documentation
(which varies by state) should be verified with Alliance
Capital’s transfer agent.
To donate the Units:
•
The donor must obtain approval of
Alliance Capital and AXA Equitable for the transfer of
units.
•
Documentation required for
consideration of approval includes:
•
Unit Certificate(s)
•
Executed “Stock” Power
Form, with guaranteed signature
•
Letter from Transferee
•
Additional required documentation
should be verified with Alliance Capital’s transfer
agent.
To re-register your certificate to reflect a
legal change of name or change in custodian:
•
The unitholder must obtain approval
of Alliance Capital and AXA Equitable for the change of
name/registration on the unit certificate.
•
Documentation required for
consideration of approval includes:
•
Unit Certificate(s)
•
Executed “Stock” Power
Form, with guaranteed signature
•
Specific instruction letter
indicating the manner in which the new unit certificate should be
registered
•
Additional required documentation
should be verified with Alliance Capital’s transfer
agent.
Once Alliance Capital and AXA Equitable approve
the transfer request, Alliance Capital will inform you of the
approval and begin processing the transfer.
You should not begin to prepare necessary
documentation until you have contacted:
Legal—Transfer
Program
Alliance Capital
1345 Avenue of the
Americas
New York, NY 10105
Phone: (212) 969-1429
