Exhibit 10.1

 

Sixteenth Amendment

To

Second Amended and Restated

Limited Partnership Agreement

 

Of
Corporate Office Properties, L.P.

 

This Sixteenth Amendment (the Amendment) to the Second Amended and Restated
Limited Partnership Agreement Of Corporate Office Properties, L.P., a Delaware
limited partnership (the Partnership), is made and entered into as of
April 15th, 2004, by the undersigned.

 

RECITALS

 

A.                                   The Partnership is a limited partnership
organized under the Delaware Revised Uniform Limited Partnership Act and
governed by that certain Second Amended and Restated Limited Partnership
Agreement dated as of December 7, 1999 (the Partnership Agreement).

 

B.                                     The sole general partner of the
Partnership is Corporate Office Properties Trust, a real estate investment trust
formed under the laws of the State of Maryland (the General Partner).

 

C.                                     Pursuant to Section 11.1 (b) (iii), the
General Partner desires to amend the Partnership Agreement to reflect the
admission, substitution, termination and/or withdrawal of various limited
partners in accordance with the terms of the Partnership Agreement.

 

NOW THEREFORE, the General Partner, intending to be legally bound, hereby amends
the Partnership Agreement as follows, effective as of the date first set forth
above.

 

1.                                       Exhibit 1, Schedule of Partners, as
attached hereto and by this reference made a part hereof, is hereby substituted
for and intended to replace any prior Exhibit 1 attached to a prior Amendment to
the Partnership Agreement, and as attached hereto shall be a full and complete
listing of all the general and limited partners of the Partnership as of the
date of this Amendment, same being intended and hereby superceding all prior
Exhibit 1 listings.

 

In Witness Whereof, the General Partner has executed this Amendment as of the
day and year first above written.

 

 

Corporate Office Properties Trust, a

 

Maryland Real Estate Investment Trust

 

 

 

 

 

By:

/s/ Roger A. Waesche, Jr.

 

 

 

Roger A. Waesche, Jr.

 

 

Executive Vice President

 

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SCHEDULE OF PARTNERS

 

 

 

Partnership Units

 

General Partner

 

 

 

Corporate Office Properties Trust

 

28,947,655

 

 

 

 

 

Limited Partners and Preferred Limited Partners

 

 

 

Jay H. Shidler

 

452,878

 

Shidler Equities, L.P.

 

2,995,439

 

Clay W. Hamlin, III

 

566,492

 

LBCW Limited Partnership

 

3,161,427

 

Robert L. Denton

 

414,910

 

James K. Davis

 

51,589

 

John E. De B. Blockey, Trustee of the John E. de B. Blockey Living Trust dated
9/12/88

 

300,625

 

Frederick K. Ito Trust

 

29,140

 

June Y. I. Ito Trust

 

29,135

 

RP Investments, LLC

 

200,000

 

Denise J. Liszewski

 

30,333

 

Samuel Tang

 

4,389

 

Laswrence J. Taff

 

13,733

 

Kimberly F. Acquino

 

5,874

 

M.O.R. XXIX Associates Limited Partnership

 

148,381

 

M.O.R. 44 Gateway Associates Limited Partnership

 

1

 

John Parsinen

 

90,000

 

M.O.R. Commons Limited Partnership

 

7

 

John Edward De Burgh Blockey and Sandar Juanita Blockey

 

50,476

 

Anthony Muscatello

 

90,905

 

Lynn Hamlin

 

121,411

 

 

 

 

 

 

 

37,704,800

 

 

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Exhibit 1 Addendum

 

Series
Preferred
Units

 

Preferred Limited
Partner

 

No. of
Preferred
Units

 

Liquidation
Preference
Per
Preferred
Unit

 

Priority
Percentage
Return *

 

Priority

 

Conversion
Factor

 

Conversion
Commencement
Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

B

 

General Partner

 

1,250,000

 

$

25

 

2.50

%

Senior

 

None

 

N/A

 

E

 

General Partner

 

1,150,000

 

$

25

 

2.5625

%

Senior

 

None

 

N/A

 

F

 

General Partner

 

1,425,000

 

$

25

 

10.25

%

Senior

 

None

 

N/A

 

G

 

General Partner

 

2,200,000

 

$

25

 

8

%

Senior

 

None

 

N/A

 

H

 

General Partner

 

2,000,000

 

$

25

 

7.5

%

Senior

 

None

 

N/A

 

 

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*                                         Priority Return Percentage is
expressed as a percentage of the Liquidation Preference per Distribution
Period.  See the Agreement for the definitions of “Priority Return Percentage,”
“Liquidation Preference” and “Distribution Period.”

 

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