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EXHIBIT 10

EXHIBIT 10.27

 

AMENDMENT TWO TO THE

1995 DIVIDEND INCREASE UNIT PLAN OF

DUKE REALTY SERVICES LIMITED

PARTNERSHIP

 

This Amendment Two to the

1995 Dividend Increase Unit Plan of Duke Realty Services Limited Partnership,

as amended and restated effective October 1, 1999 (“Plan”), is hereby adopted

this 31st day of January, 2001, but effective as of the date specified below,

by Duke Realty Services Limited Partnership (“Partnership”).  Each capitalized term not otherwise defined

herein has the meaning set forth in the Plan.

 

WITNESSETH:

 

WHEREAS, the Partnership

adopted the Plan for the purposes set forth therein; and

 

WHEREAS, pursuant to Section

5.1 of the Plan, the Board of Directors of Duke Services, Inc. and the

Executive Compensation Committee of the Board of Directors of Duke-Weeks Realty

Corporation (“Committee”) have reserved the right to amend the Plan with

respect to certain matters; and

 

WHEREAS, the Committee has

determined to amend Section 1.5 of the Plan to increase the maximum number of

shares available for issuance under the Plan from Four Hundred Thousand

(400,000) to One Million Four Hundred Thousand (1,400,000); and

 

WHEREAS, the Committee has

approved and authorized this Amendment Two to the Plan;

 

NOW, THEREFORE, pursuant to

the authority reserved to the Committee under Section 5.1 of the Plan, the Plan

is hereby amended, effective as of January 1, 2001, in the following

particulars:

 

1.             By substituting the following for Section 1.5 of the

Plan:

 

“1.5  Shares Covered by the Plan.  The stock which may be issued under the Plan

in connection with the exercise of Units shall be shares of authorized common

stock of the Company and may be unissued shares or reacquired shares (including

shares purchased in the open market), or a combination of the two, as the

Committee may from time to time determine. Provided, however, subject to the

provisions of Section 5.2 and the provisions of this Section 1.5, the maximum

number of shares to be delivered upon the exercise of all Units granted under

the Plan shall be One Million Four Hundred Thousand (1,400,000). Shares covered

by the grant of a Unit that remains unexercised upon the expiration or

termination of the Unit may be made subject to further grants of Units.”

 

2.             By substituting the following for Section 5.4 of the

Plan:

 

“5.4  Employment Rights.  The Plan does not constitute a contract of

employment and participation in the Plan does not give a Participant the right

to be rehired or retained in the employment of the Partnership, nor does

participation in the Plan give any Participant any right or claim to any

benefit under the Plan, unless such right or claim has specifically accrued

under the terms of the Plan.”

 

All other provisions of the

Plan shall remain the same.

 

IN WITNESS WHEREOF, Duke

Realty Services Limited Partnership, by a duly authorized officer of its

General Partner, has executed this Amendment Two to the 1995 Dividend Increase

Unit Plan of Duke Realty Services Limited Partnership (As Amended and Restated

Effective October 1, 1999) this 31st day of January, 2001, but effective as of

the date specified herein.EXHIBIT 10

EXHIBIT 10.29

 

AMENDMENT ONE TO

1995 SHAREHOLDER VALUE PLAN OF

DUKE REALTY SERVICES LIMITED PARTNERSHIP

 

WHEREAS, Duke Realty

Services Limited Partnership (“Partnership”) maintains the 1995 Shareholder

Value Plan of Duke Realty Services Limited Partnership (“Plan”), which became

effective as of October 1, 1995; and

 

WHEREAS, pursuant to the

provisions Section 5.1 of the Plan, the Board of Directors of Duke Services,

Inc. (“Board”) and the Executive Compensation Committee of the Board of

Directors of Duke Realty Investments, Inc. (“Committee”) have the right to

amend, suspend or terminate the Plan or any portion thereof a any time; and

 

WHEREAS, by resolutions, the

Committee has approved and adopted this Amendment One to the Plan, effective as

of December 1, 1997.

 

NOW, THEREFORE, the Plan is

hereby amended by adding the following new Section 4.4 to Article IV of the

Plan:

 

“4.4. Deferral of

Distributions. Notwithstanding the foregoing, any distribution payable to a

Participant under this Plan may he deferred by that Participant under the

Executives’ Deferred Compensation Plan of Duke Realty Services Limited

Partnership (the “Deferred Plan”), provided that the Participant is a

participant in the Deferred Plan and he tiles a deferral election in a timely

manner as prescribed by that Deferred Plan. If such an election is made, the

benefit that is deferred will cease to be payable under this Plan and will

instead he payable under the terms of the Deferred Plan.”

 

The Plan will remain the

same in all other respects except as provided by Amendment One above.

 

IN WITNESS WHEREOF, Duke

Services, Inc., by its officers thereunder duly authorized, adopts on behalf of

Duke Realty Services Limited Partnership, this Amendment One this 24(th) day of

December, 1997, but effective as of December 1, 1997.

 

RESOLUTIONS OF THE BOARD OF DIRECTORS OF DUKE SERVICES, INC.

 

WHEREAS, the Board of

Directors (the “Board”) of Duke Services, Inc. (“Duke Services”), a

wholly-owned subsidiary of Duke Realty Investments, Inc. (the “Company”), and

the sole general partner of Duke Services Limited Partnership (the

“Partnership”) adopted the Executives’ Deferred Compensation Plan of Duke

Realty Services Limited Partnership (the “Deferred Compensation Plan”) and the

1995 Shareholder Value Plan of Duke Realty Services Limited Partnership (the

“Shareholder Value Plan”) (together the “Plans”); and

 

WHEREAS, Section 5.1 of the

Deferred Compensation Plan and Section 7.1 of the Shareholder Value Plan permit

the Board to amend the Plans or any portion thereof at any time; and

 

WHEREAS, the Board has

determined, in its best judgment, that the Plans should be amended effective as

of December 1, 1997 in order to provide for the deferral benefits payable from

the Shareholder Value Plan through the Deferred Compensation Plan;

 

NOW, THEREFORE, BE IT

RESOLVED, that the appropriate officers of Duke Services be, and they hereby

are, authorized, empowered and directed, for and on behalf of Duke Services to

execute, deliver and file such  documents,

certificates and other writings, and to take such additional action as may be

necessary or appropriate in the discretion of any such officers, to carry out

the intent and purpose of this and the foregoing resolutions.EXHIBIT 10

EXHIBIT 10.30

AMENDMENT

TWO TO THE 1995

SHAREHOLDER

VALUE PLAN OF

DUKE REALTY

SERVICES LIMITED PARTNERSHIP

 

This

Amendment Two to the 1995 Shareholder Value Plan of Duke Realty Services

Limited Partnership (“Plan”) is hereby adopted this 26th day of

January, 1999 by Duke Services, Inc. (“Company”) as the sole general partner of

Duke Realty Services Limited Partnership, effective as of the date specified

herein:

 

W I T N E S S E T H:

 

WHEREAS,

the Company adopted the Plan for the purposes set forth therein; and

 

WHEREAS,

pursuant to Section 5.1 of the Plan, the Company has reserved the right to

amend the Plan with respect to certain matters, by action of the Executive

Compensation Committee of the Board of Directors of Duke Realty Investments,

Inc. (“Committee”); and

 

WHEREAS,

the Committee has approved an amendment to the Plan which clarifies the that

the Valuation Date under the plan shall occur one time each year and that such

date shall fall on December 31; and

 

WHEREAS,

the Committee has approved and authorized this Amendment Two;

 

NOW, THEREFORE, pursuant to

the authority reserved to the Company under Section 5.1 of the Plan, the Plan

is hereby amended, effective as of January 1, 1997, by substituting the

following for Section 1.4(u) of the Plan:

 

“1.4 (u)   ‘Valuation Date’ means, with respect to a

bonus award, 

December 31st of the second consecutive year following the year in 

which a bonus award Grant Date occurs.”

 

All other provisions of the Plan shall remain

the same.

 

IN WITNESS WHEREOF, Duke Services, Inc., as

the sole general partner of Duke Realty Services Limited Partnership, by its

officer thereunder duly authorized, has executed this Amendment Two to the 1995

Shareholder Value Plan of Duke Realty Services Limited Partnership this 26th

day of January, 1999, but effective as of January 1, 1997.EXHIBIT 10

EXHIBIT 10.31

AMENDMENT

THREE TO THE

1995

SHAREHOLDER VALUE PLAN OF

DUKE REALTY

SERVICES LIMITED PARTNERSHIP

 

This

Amendment Three to the 1995 Shareholder Value Plan of Duke Realty Services

Limited Partnership (“Plan”) is hereby adopted this 31st day of January, 2001,

but effective as of the date specified below, by Duke Services, Inc.

(“Company”) as the sole general partner of Duke Realty Services Limited

Partnership (“Partnership”).  Each

capitalized term not otherwise defined herein has the meaning set forth in the

Plan.

 

W I T N E S S E T H:

 

WHEREAS,

the Partnership adopted the Plan for the purposes set forth therein; and

 

WHEREAS,

pursuant to Section 5.1 of the Plan, the Board of Directors of Duke Services,

Inc. and the Executive Compensation Committee of the Board of Directors of

Duke-Weeks Realty Corporation (“Committee”) have reserved the right to amend

the Plan with respect to certain matters; and

 

WHEREAS,

the Committee has determined to amend the Plan by reducing the retirement age

from age sixty-five (65) to age fifty-five (55); and

 

WHEREAS,

the Committee has approved and authorized this Amendment Three;

 

NOW

THEREFORE, pursuant to the authority reserved to the Committee under Section

5.1 of the Plan, the Plan is hereby amended, effective with respect to all

grants of bonus awards outstanding as of January 1, 2001, and all bonus awards

granted after that date, in the following particulars:

 

1.             By substituting the following for

Section 3.6 of the Plan:

 

“3.6         Early Termination of Bonus Award.  If a Participant terminates employment prior

to a Valuation Date, all rights to receive any bonus award which would have

otherwise been payable on the Valuation Date shall expire and be forfeited

unless such termination is on account of the Permanent and Total Disability or

death of the Participant or is on or after the Participant has attained age

fifty-five (55).  Transfer of employment

from the Partnership to an Affiliate, or vice versa, shall not be deemed a

termination of employment.  The

Committee shall have the authority to determine in each case whether a leave of

absence on military or government service shall be deemed a termination of

employment for purposes of this Section 3.6.”

 

2.                                       By substituting

the following for Section 3.7 of the Plan:

 

“3.7         Permanent and Total Disability,

Retirement or Death of Participant. 

If a Participant’s employment terminates due to his Permanent and Total

Disability, retirement on or after age fifty-five (55) or death prior to the

Valuation Date applicable to a bonus award, the Participant will become fully

vested in such award on his termination. 

However, payment of the Participant’s bonus award shall be made as soon

as practicable following the date on which the bonus award would have been paid

if his employment had not terminated due to Permanent and Total Disability,

retirement or death and shall be paid to the Participant, his guardian,

attorney-in-fact, or personal representative, as the case may be.”

 

All

other provisions of the Plan shall remain the same.

 

IN

WITNESS WHEREOF, Duke Realty Services Limited Partnership, by a duly authorized

officer of its General Partner, has executed this Amendment Three to the 1995

Shareholder Value Plan of Duke Realty Services Limited Partnership this 31st

day of January, 2001, but effective as of the date specified herein.

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