Exhibit 10.2
FORM OF FIRST AMENDMENT TO THE SEVERANCE AND CHANGE IN CONTROL AGREEMENT

This FIRST AMENDMENT TO THE SEVERANCE AND CHANGE IN CONTROL AGREEMENT (the
“Amendment”) by and between EastGroup Properties, Inc., a Maryland corporation
(the “Company”), and ____________ (the “Executive”) is effective as of ________
__, 2020.
WHEREAS, the Company and the Executive entered into a Severance and Change in
Control Agreement dated as ___________ (the “Severance Agreement”); and
WHEREAS, the Company and the Executive wish to amend certain provisions of the
Severance Agreement.
NOW, THEREFORE, the parties, for good and valuable consideration and intending
to be legally bound, agree as follows:
1.Section 6(b) of the Severance Agreement is hereby deleted in its entirety and
replaced with the following:

“(b) A lump sum severance payment in an amount equal to the product of 2.5 times
the Executive’s Average Annual Compensation as of the Change in Control; and”

2.Except as so amended, the Severance Agreement is in all other respects hereby
confirmed and defined terms used but not defined herein shall have the meanings
set forth in the Severance Agreement.

3.This Amendment may be executed in two or more counterparts, each of which
shall be an original and all of which together shall constitute one and the same
instrument.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Executive has set his or her hand to this Amendment and,
pursuant to the authorization from the Compensation Committee of the Board of
Directors, the Company has caused this Amendment to be executed as of the day
and year first above written.

EASTGROUP PROPERTIES, INC.

By:___________________________________
Name:    
Title:    

By:___________________________________
Name:    
Title:    

EXECUTIVE

______________________________________
Name:

Address:    

[Signature Page to the First Amendment to the Severance and Change in Control
Agreement]