**Exhibit 10.30****FIRST INDUSTRIAL LETTERHEAD**January 30, 2006Mr. Gerald A. Pientka  Re:       Employment AgreementDear Gerry:     The purpose of this letter is to memorialize the terms of your employment with FirstIndustrial Development Services, Inc., and its affiliates (“FR”), in the newly created position ofExecutive Vice President — Development, on the terms set forth below.1. Position and Responsibilities: You will be titled as above, and in that capacitywill head up our existing national and prospective international development and landinvestment business. In so doing, you will oversee and provide support to regional andheadquarters officers and staff in: (i) land purchases and sales; (ii) ground-up development;and (iii) “redevelopment,” defined as the investment of 30% or more of a given project’sacquisition price into hard retrofit and renovation costs (collectively “DevelopmentActivities”). You will work with our managing Directors, Regional Directors, and transactionofficers, so as to lend your expertise and guidance to their Development Activities infurtherance of FR’s New Business Generation Plan (“NBGP”), and will also devote time andattention to the generation of new Development Activities sourced directly by you. While youwill interact with the Chief Investment Officer, Chief Financial Officer and Executive VicePresident — Operations with respect to Development Activities, you will report directly tothe CEO. 2. Term: The term of this Agreement will be three (3) years, commencing February 1,2006 (the “Start Date”), and terminating January 31, 2009, unless extended by mutual writtenagreement. In the event of a change in control, as defined below, which occurs during theAgreement term, the term will automatically extend for twelve (12) months from such change andthen end. 3. Annual Compensation: Your annual compensation package shall consist of a number ofcomponents, as follows:a. Base Salary: You will be paid an initial Base Salary, for FY 06, of $240,000 perannum, which Base Salary shall be subject to annual review and adjustment by theCompensation Committee of the Board of Directors, but which shall not be reducedbelow that figure.b. Incentive Compensation: Your annual incentive will be paid under a customized
 

 
Incentive Compensation plan, as follows:     i) Participation in Income from Development Activities: You will be paid,on an annual basis, “Incentive Compensation” in an amount equal to two percent (2%) ofnet after-tax profits (“NATP’s”) generated, on a cash basis, from DevelopmentActivities, where the closing of the sale or other final disposition of such DevelopmentActivities occurs during the term of your employment, i.e. from the Start Date to andthrough the effective date of termination of your employment. For purposes ofdetermining whether and when Incentive Compensation shall have been earned, NATPs willbe deemed to have been generated on the date of receipt of the proceeds of sale of andor fees generated by Development Activities (i.e., so as to exclude any closings orreceipts of proceeds occurring in 2006 prior to February 1, 2006). Without limiting theforegoing, in no event shall Incentive Compensation be earned hereunder in respect ofthe Le*Nature’s build-to-suit project and the sale thereof, notwithstanding the deferredreceipt of certain sale proceeds beyond February 1, 2006. NATP’s shall be generatedfrom land deals; ground-up development deals; and redevelopment deals. NATP’s for agiven project will take into account taxes payable by any applicable taxable REITSubsidiary, G & A and cost of funds allocations to that project, and venture-wideprofits (as opposed to internal promotes and fees) on joint venture projects. Forpurposes of illustration, we have attached pro forma project income statementsreflecting the methodology for determining NATP’s from Development Activities, both foron-balance sheet and joint venture formats, which we use for compensation purposes inthe NBGP, and which we will also use for purposes of this Agreement. Any net after-taxgains or losses from any Development Activities shall, for purposes of your IncentiveCompensation be netted in the aggregate on an annual non-cumulative basis.     ii) Bonus Draw: For the first two (2) years of your employment, you willreceive a “Bonus Draw” against Incentive Compensation in the amount of $275,000 perannum, payable in accordance with FR’s general payroll practice (currently, bi-monthly).Thereafter, there will be no such Bonus Draw. The Bonus Draw will be guaranteed by FR,and will be retained by you notwithstanding any shortfall between the Bonus Draw for anyyear and actual earned Incentive Compensation for that year.     iii) Payment of Incentive Compensation: All Incentive Compensation earnedfor any year in excess of any applicable Bonus Draw shall be paid partly in cash andpartly in restricted stock of FR, on the basis of 60% cash and 40% restricted stock.The restricted stock will vest over a three (3) year period following the date ofissuance, on a level pro rata basis of 33-1/3% at the end of each of years one (1), two(2) and three (3) following issuance. Subject to the approval of the CompensationCommittee, the restricted stock shall be denominated based on a discounted issuanceprice equal to approximately 75-85% of its trading price as of the date of issuance.Under all circumstances, the discount afforded by the Compensation Committee to you willbe the same as the discount afforded to the CEO, CIO, CFO and ExecutiveVice President — Development of FR. Any payment of Incentive Compensationpursuant to this Section 3 will require your continued employment through the paymentdate, which will normally be no later than 2 1/2 months following the close
 

 
of theannual performance period. Termination of employment, for any reason other than underParagraphs 5(a) (termination by FR without cause), 5(c) (change in control), 5(d) (deathor disability) and 5(e) (change in responsibility), prior to the payment date willresult in the forfeiture of any right to payment of the Incentive Compensation amount.     iv) Benefits, Insurance and Automobile Allowance: You will receive thestandard benefits and insurance package provided to all other senior officers of FR.You will also receive an automobile allowance of $750 per month.     v) Vacation: You will be entitled to four (4) weeks of paid vacation peryear, which will not carry over to subsequent years or be redeemable for cash if notfully used in a given year.4. Special Compensation — Initial Sign-Up Bonus: In addition to all of the above, youwill receive, at the commencement of your employment, a one-time “Sign-Up Bonus” oftwenty-five thousand (25,000) shares of restricted stock in FR, which will vest over a periodof five (5) years on a level pro rata basis of 20% at the end of each of years one (1) throughfive (5). All restricted shares issued pursuant to the Sign-Up Bonus, as well as allrestricted shares issued as Incentive Compensation, will be subject to the terms andconditions of the relevant FR equity compensation plans under which they are issued, unlessand only to the extent (if any) specifically otherwise provided in this Agreement. 5. Termination:     a. No Cause: Either you or FR will have the right to terminate this Agreement atany time, for no cause, upon thirty (30) days’ prior written notice to the other party. Inthe event of such termination by FR, you will be paid a cash “Severance Payment” equal to(1) $600,000, if such termination takes place prior to the first (1st)anniversary of the Start Date and (ii) if such termination takes place subsequent to thefirst (1st) anniversary of the Start Date, equal to one hundred percent (100%) of“total annual compensation.” In addition, all of your restricted stock (including anyunvested restricted stock received under Section 4 as the Signing Bonus) will immediatelyvest on such termination, with such vesting and Severance Payment, constituting the fullextent of FR’s obligation to you in such circumstance. For purposes of this subsection,total annual compensation shall mean the compensation paid in the fiscal year prior to theyear in which termination takes place, consisting of Base Salary, Bonus Draw (if applicable)and other Incentive Compensation paid in respect of such prior year (even if paid shortlyafter the end of that year), inclusive of the grant value of any restricted stock grantprovided to you in that prior year as part of Incentive Compensation under Section 3(b) (butspecifically excluding the value of restricted stock issued pursuant to the Sign-Up Bonusunder Section 4), which shall be valued at the discounted issue price and without regard towhether it shall have fully vested. If this Agreement is terminated by you for no cause,all unvested restricted stock will be forfeited by you and revert to FR, and FR will haveno continuing obligations to you.     b. Cause: FR will have the right to terminate your employment for cause at any
 

 
time, on the lesser of thirty (30) days’ notice or such lesser notice as may be necessary inthe event of an emergency created by your misconduct. Cause shall mean your having beenfound (i) guilty of criminal activity; (ii) to have engaged in substance abuse; (iii) tohave committed acts of fraud or dishonesty, (iv) to have engaged in willful or grosslynegligent misconduct; or (v) to have committed intentional acts or engaged in omissions thathave a material adverse effect on FR. If FR intends to terminate you for cause, it shallnotify you of the basis for such intended action, and provide you with an opportunity tomeet with the CEO and others designated by the CEO (if any) to address the validity of therelevant factual accusations, but FR shall retain the right to make a good faithdetermination of the existence of the grounds for a cause-based termination. In the eventof such termination, all unvested restricted stock shall be immediately forfeited and shallrevert to FR, and no Severance Payment or other compensation shall be provided to you by FR.     c. Change in Control: In the event that fifty percent (50%) or more of FR’s commonstock or assets is acquired by an outside party in a friendly or unfriendly “M&ATransaction,” all outstanding unvested restricted stock issued to you will vest immediately.If, in such circumstance, you are terminated without cause or your position issubstantially adversely modified, then you shall have the right to terminate your employmentwithin twelve (12) months of the effective date of such M&A Transaction, and (i) to receivea Severance Payment equal to two hundred percent (200%) of the Severance Payment describedin Paragraph 5a above (i.e. 200% of the prior year’s total annual compensation); and (ii)all outstanding unvested restricted stock will vest immediately.     d. Death or Disability: In the event of termination of your employment due to yourdeath or permanent disability, you or your family will receive a Severance Payment equal tofifty percent (50%) of the Severance Payment described in Paragraph 5a above (i.e. 50% ofthe prior year’s total compensation).     e. Change in Responsibility: If there is a substantial reduction in your level ofyour responsibility or a change in the organization of FR so that you cease to reportdirectly to the CEO, you may elect to treat the reduction or change as a termination by FRfor no cause under Paragraph 5(a); provided, however, that you must first give FR notice ofthe events giving rise to such right and allow FR a reasonable period to cure suchcircumstances. The acquiescence to such a reduction of responsibility or change inreporting obligations for a period of time up to six months shall not be deemed to be awaiver of your right to claim the reduction or change as a termination by FR for no causeunder Paragraph 5(a); provided, however, that such right may be waived at any time inwriting. For purposes of this subsection, a reduction in responsibilities due yourdisability or in response your behavior which can constitute “cause” under Paragraph 5(b),will not be treated as a termination for no cause under Paragraph 5(a).
 

 
6. Exclusivity, Non-Compete and Confidentiality: During the term of this Agreement, youwill devote all of your professional time and attention to the business of FR, and willspecifically refrain from any other commercial real estate activity, with the exception of (i)retention of your pre-existing non-managing ownership interests in those entities formed byVerus Partners listed on an Exhibit to this Agreement; and (ii) minority investments in publiclytraded real estate companies. For a period of one (1) year following (i) any termination ofyour employment to which a Severance Payment is applicable, or (ii) a termination of youremployment by you for no cause or by FR for cause, you agree not to directly or indirectlycompete with FR, as a principal, advisor, investor or otherwise, whether with respect totenants, lenders, investors, sellers or buyers, sellers or brokers of industrial real estatewith whom FR shall have had contact in any of its markets during the term of your employment.In addition, you will not employ, solicit employment of, or engage in employment-relatedcommunication with any employee of FR during this one (1) year period. In addition, you will,for an indefinite period of time, maintain the confidentiality of proprietary information,concerning FR or its lenders, tenants, sellers, buyers or investors made available to you by FRduring the term of your employment. 7. No Conflicting Agreement: You are certifying to us that you are not subject to anyexisting non-competition or other restrictive agreements or arrangements, written or oral, asto Verus Partners, its affiliated entities, or otherwise, that in any way prohibit orconstrain your acceptance of and/or performance of your duties pursuant to your employmentwith us, or that in any manner circumscribe the scope of Development Activities or otherbusiness that you are entitled to pursue and consummate on behalf of FR. Without limitationof its other rights and remedies, FR shall be entitled to terminate this Agreement for causein the event that you are precluded, enjoined or inhibited from fully performing your dutiesunder this Agreement, or if a colorable threat of the above (determined in good faith by FR)and/or legal action against FR is asserted by any party on the basis of a purportedly existingrestrictive agreement or arrangement. 8. Mandatory Arbitration: Any dispute or controversy hereunder shall be committed tobinding arbitration under the AAA rules, by a single arbitrator selected by the partiesthrough the process of single elimination of a proposed roster of eleven (11) arbitratorssubmitted by the AAA. Such arbitration shall be conducted under a “baseball arbitration”format, pursuant to which the arbitrator shall be required to adopt the position of one of theparties, and not any compromise position, and under which the non-prevailing party shall bearall costs of the arbitration, including the prevailing party’s legal fees. The order of sucharbitrator shall be final and binding, and may be enforced by a Court of competentjurisdiction. Nothing herein contained shall preclude either party from seeking equitable orinjunctive relief from a court of competent jurisdiction in order to prevent, terminate orreduce the likelihood of the infliction of irreparable harm on the petitioning party.
 

 
     I am extremely enthusiastic about the prospect of working with you over many years to come, toour mutual benefit.      Best regards,