EXHIBIT 10.1

                        RAMCO GERSHENSON PROPERTIES TRUST
                            CHANGE IN CONTROL POLICY


         This Policy,  adopted this 10th day of July, 2007, covers the executive
officers (the "Executives") of Ramco-Gershenson  Properties Trust (the "Trust").
Additional  individuals  may be added to this  Policy  from  time to time by the
Compensation Committee of the Trust.

         This Policy  sets forth the  benefits  which the Trust will  provide to
each of the Executives if his or her employment  with the Trust or an applicable
subsidiary  of the Trust is  terminated  in certain  circumstances  following  a
Change in Control (as defined  below).  This Policy  shall remain in effect with
respect to any Change in Control which occurs prior to the  termination  of this
Policy by the Compensation Committee or during the one year period following the
termination  of this  Policy  by the  Compensation  Committee.  In the  event of
termination of this Policy,  prompt notice thereof shall be given to each of the
Executives who is then employed by the Trust or a subsidiary.

         1. Certain Definitions.  For purposes of this Agreement,  the following
definitions shall have the following meanings:

                  (a)  "Cause"  shall mean (i)  actual  dishonesty  intended  to
result in substantial  personal enrichment at the expense of the Trust or of any
subsidiary of the Trust,  (ii) conviction of a felony or (iii) repeated  willful
and deliberate failure or refusal to perform the duties normally associated with
the  Executive's  position which is not remedied in a reasonable  period of time
after receipt of written notice from the Trust.

                  (b) "Change in Control" shall mean:

                           (i)  on or  after  the  date  of  execution  of  this
Agreement,  any person (which, for all purposes hereof,  shall include,  without
limitation,  an individual,  sole  proprietorship,  partnership,  unincorporated
association,  unincorporated syndicate, unincorporated organization, trust, body
corporate and a trustee, executor,  administrator or other legal representative)
(a "Person") or any group of two or more Persons  acting in concert  becomes the
beneficial   owner,   directly  or  indirectly,   of  securities  of  the  Trust
representing,  or acquires the right to control or direct, or to acquire through
the  conversion  of  securities  or the  exercise of warrants or other rights to
acquire securities, 40% or more of the combined voting power of the Trust's then
outstanding  securities;  provided  that for the  purposes  of this  Policy  (A)
"voting power" means the right to vote for the election of trustees, and (B) any
determination  of percentage of combined voting power shall be made on the basis
that (x) all securities  beneficially owned by the Person or group or over which
control or direction  is exercised by the Person or group which are  convertible
into securities  carrying voting rights have been converted (whether or not then
convertible) and all options, warrants or other rights which may be exercised to
acquire  securities  beneficially  owned by the  Person  or group or over  which
control or direction  is  exercised  by the Person or group have been  exercised
(whether or not then exercisable),  and (y) no such convertible  securities have
been converted by any other Person and no such options, warrants or other rights
have been exercised by any other Person; or

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                           (ii) at any time  subsequent  to the date of adoption
of this Policy  there shall be elected or  appointed to the Board of Trustees of
the Trust (the "Board") any trustee or trustees whose appointment or election to
the  Board or  nomination  for  election  by the  Trust's  shareholders  was not
approved by a vote of at least a majority of the  trustees  then still in office
who  were  either  trustees  on the date of  adoption  of this  Policy  or whose
election or  appointment  or nomination for election was previously so approved;
or

                           (iii)  a   reorganization,   merger,   consolidation,
combination,  corporate  restructuring or similar  transaction (an "Event"),  in
each case, in respect of which the beneficial  owners of the  outstanding  Trust
voting securities  immediately prior to such Event do not, following such Event,
beneficially own,  directly or indirectly,  more than 60% of the combined voting
power of the then outstanding  voting  securities  entitled to vote generally in
the  election of trustees of the Trust and any  resulting  parent  entity of the
Trust in  substantially  the same  proportions as their  ownership,  immediately
prior to such Event, of the outstanding Trust voting securities; or

                           (iv)   an Event  involving  the Trust as a result  of
which 40% or more of the members of the board of  trustees of the parent  entity
of the  Trust or the  Trust  are not  persons  who  were  members  of the  Board
immediately prior to the earlier of (x) the Event, (y) execution of an agreement
the  consummation of which would result in the Event, or (z) announcement by the
Trust of an intention to effect the Event; or

                           (v) the Board adopts a resolution to the effect that,
for purposes of this Policy, a Change in Control has occurred.

                  (c) "Code"  shall mean the Internal  Revenue Code of 1986,  as
amended.

                  (d) The "Change in Control  Date" shall be any date during the
duration of  effectiveness  of this Policy on which a Change in Control  occurs.
Anything  in this  Policy to the  contrary  notwithstanding,  if an  Executive's
employment or status as an elected  officer with the Trust or any  subsidiary of
the Trust is terminated within six months prior to the date on which a Change in
Control occurs, then unless such employment or status as an elected officer with
the Trust is terminated (i) for Cause,  or (ii)  voluntarily by such  Executive,
for all purposes of this  Agreement  the "Change in Control Date" shall mean the
date immediately prior to the date of such termination.

                  (e) "Good Reason"  shall mean the initial  existence of one or
more of the following  conditions  arising  without the consent of the Executive
within the  one-year  period  following a Change in Control,  provided  that the
Executive provides notice to the Trust of the existence of such condition within
90 days of the initial  existence of the condition and the Trust does not remedy
the condition within 30 days after receiving notice:

                           (i) a material  diminution  in the  Executive's  base
salary in effect  immediately  before the Change in Control Date or as increased
from time to time thereafter;

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                           (ii)  a  material   diminution  in  the   Executive's
authority, duties, or responsibilities;

                           (iii) a material diminution in the authority, duties,
or  responsibilities  of the  supervisor  to whom the  Executive  is required to
report, including a requirement that the Executive report to a corporate officer
or employee instead of reporting directly to the Board;

                           (iv) a material  diminution  in the budget over which
the Executive retains authority;

                           (v)  a  material  change in the  geographic  location
at which the Executive must perform the services related to his or her position;
or

                           (vi) any other action or inaction that  constitutes a
material breach by the Trust of any agreement under which the Executive provides
services to the Trust.

         2.  Change in Control  Benefits.  Upon  termination  of an  Executive's
employment  within one year  following a Change in Control Date (x) by the Trust
other than for Cause or upon Executive's death or permanent disability or (y) by
Executive  for  Good  Reason,  the  Trust  will  pay as  severance  pay to  such
Executive, not later than the 30th day following the date of termination, a lump
sum severance payment (the "Severance Payment") equal to the product of: for the
Chief  Executive  Officer,  2.99; for the Chief Financial  Officer,  2.5; for an
Executive Vice President,  2.0; and for a Senior Vice President, 1.0; multiplied
by the "base amount"  within the meaning of Sections  280G(b)(3)  and 280G(d) of
the Internal  Revenue Code of 1986, as amended (the "Code"),  and any applicable
temporary or final  regulations  promulgated  thereunder,  or its  equivalent as
provided in any  successor  statute or  regulation.  If Section 280G of the Code
(and any successor  provisions  thereto) is repealed or otherwise  inapplicable,
then the Severance Payment will equal the product of the appropriate multiplier,
as  provided  above,  multiplied  by  the  average  of  the  Executive's  annual
compensation  for both complete and partial calendar years during so much of the
five calendar year period  preceding the calendar year in which the  termination
occurs during which the Executive was so employed.  Compensation  payable to the
Executive  by the  Trust  will  include  every  type  and  form of  compensation
includable in the  Executive's  gross income in respect of his employment by the
Trust,  including  compensation income recognized as a result of the Executive's
exercise of stock options or sale of the stock so acquired, except to the extent
otherwise  provided  in  Section  280G of the  Code and any  temporary  or final
regulations  promulgated  thereunder.  Notwithstanding  the reference to Section
280G of the Code in this Policy, none of the Executives shall be entitled to any
gross-up  payments  under this Policy with respect to any Severance  Payments or
other  payments  or  benefits in the event that any excise tax under the Code is
imposed on him or her.

         3. No Mitigation.  The Executives  will not be required to mitigate the
amount of any payment provided for in this Policy by seeking other employment or
otherwise,  nor will the amount of any payment or benefit  provided  for in this
Policy be  reduced  by any  compensation  earned by any of them as the result of
employment  by another  employer  or by  retirement  benefits  after the date of
termination, or otherwise.


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         4. Effect on Other Agreements. This Severance Policy shall not limit or
otherwise  affect the provisions of any employment  agreement  between the Trust
and an  Executive,  and the  terms of any  such  employment  agreement  shall be
unaffected  by the adoption of this  Severance  Policy.  The  Severance  Payment
provided  for in this Policy with respect to any  Executive  shall be reduced by
any other  severance or separation  payments (not including the  acceleration of
vesting of any options, shares or rights under any incentive plans of the Trust)
provided for in any other  agreements or arrangements  between the Trust and the
applicable Executive.

         In witness  whereof,  and pursuant to the approval of the  Compensation
Committee  of the Trust,  this  Policy is adopted as of the date first set forth
above.

                                               Ramco-Gershenson Properties Trust



                                               By:/s/ Dennis Gershenson
                                                  ------------------------------
                                                  Dennis Gershenson
                                                  Chairman and CEO










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