Exhibit 10.2

 

KITE REALTY GROUP TRUST

 

Schedule of Non-Employee Trustee Fees and Other Compensation

 

Annual Retainer

 

$25,000 (1)

 

 

 

Board Meeting Fees (telephonic and in-person)

 

$1,000

 

 

 

Committee Meeting Fees (telephonic and in-person)

 

$1,000

 

 

 

Committee Chair Annual Retainer

 

Audit Committee: $10,000
Compensation Committee: $7,500
Nominating and Corporate Governance Committee: $5,000

 

 

 

Lead Trustee Retainer

 

$10,000

 

 

 

Annual Restricted Share Awards

 

Upon initial election, each trustee receives 3,000 restricted shares that vest 1
year from date of grant.

On an annual basis each year after their initial election, each trustee will
receive restricted shares with a value of $15,000 that vest 1 year from the date
of grant.

 

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(1)                                  On May 13, 2005, the Board of Trustees
elected to begin receiving approximately one-half of their $25,000 annual
retainer, which was previously paid entirely in cash, in common shares of
beneficial interest, par value $0.01 per share, of the Company. As a result,
beginning with the quarterly payment for the third calendar quarter of 2005,
trustees will receive approximately 50% of the quarterly payment in common
shares pursuant to unrestricted share grants under the Company’s 2004 Equity
Incentive Plan and the remainder in cash. The number of common shares to be
issued each quarter will be based on the closing price of the common shares on
the second business day after public release of the Company’s financial data for
the preceding calendar quarter (rounded down to the nearest whole common share).

 

Effective: May 2005

 

1

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