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EXHIBIT 10

EXHIBIT 10.8

 

AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT

OF LIMITED PARTNERSHIP

OF

DUKE REALTY SERVICES LIMITED PARTNERSHIP

 

Duke Services, Inc., an

Indiana corporation, Duke Realty Limited Partnership, an Indiana limited

partnership, and Duke Management, Inc., an Indiana corporation, as the partners

of Duke Realty Services Limited Partnership (the “Partnership”) hereby amend

the Partnership’s Second Amended and Restated Agreement of Limited Partnership,

as heretofore amended (the “Partnership Agreement”) pursuant to Section 9.05 of

the Partnership Agreement and agree as follows:

 

1. Substitution of Partner.  Duke Management, Inc. is hereby substituted for DMI Partnership

as a limited partner in the Partnership, and all references to DMI Partnership in

the Partnership Agreement are hereby amended to refer to Duke Management,

Inc.  Specifically and not by way of

limitation, Section 7.03 of the Partnership Agreement is amended to provide

that the option granted therein by DMI Partnership to Duke Realty Investments,

Inc. is hereby granted by Duke Management, Inc., and the option granted to DMI

Partnership in Section 7.03(d) is hereby granted to Duke Management, Inc., in

each case subject to the applicable conditions and provisions of Section 7.03.

 

2. Other Provisions.  In all other

respects, the Partnership Agreement shall continue in full force and effect as

amended hereby.  Any capitalized terms

used in this Amendment and not defined herein have the meanings given to them

in the Partnership Agreement.EXHIBIT 10

EXHIBIT 10.9

 

THIRD AMENDMENT TO

SECOND AMENDED AND RESTATED

AGREEMENT OF LIMITED PARTNERSHIP OF

DUKE REALTY SERVICES LIMITED

PARTNERSHIP

 

This Third Amendment (“Amendment”)

to the Partnership Agreement (as defined herein) of Duke Realty Services

Limited Partnership, an Indiana limited partnership (“Partnership”), is

made by and between Duke Services, Inc., an Indiana corporation (“DSI”),

Duke Realty Limited Partnership, an Indiana limited partnership (“DRLP”),

Duke Realty Corporation, formerly known as Duke Realty Investments, Inc., an

Indiana corporation (“DRE”), and Duke Management, Inc., an Indiana

corporation (“DMI”), effective as of January 1, 2002 (“Effective Date”).

RECITALS

 

WHEREAS, DSI is presently

the sole General Partner of the Partnership;

 

WHEREAS, All of the capital

stock of DSI is owned solely by DRE;

 

WHEREAS, On the Effective

Date, the directors and sole shareholder of DSI adopted a Plan of Complete

Liquidation and Voluntary Dissolution of Duke Services, Inc. (“Plan of

Liquidation”); and

 

WHEREAS, The parties hereto

desire to amend the Partnership Agreement to permit (i) DSI to transfer

and assign its entire Partnership Interest in the Partnership to DRE as a

liquidating distribution under the Plan of Liquidation, and (ii) the substitution

of DRE for DSI as the sole General Partner of the Partnership.

 

NOW, THEREFORE, pursuant to

Section 9.05 of the Partnership Agreement and in consideration of the

mutual promises, representations, warranties, covenants and agreements

contained herein, the receipt and sufficiency of which are hereby acknowledged,

the parties agree as follows:

 

ARTICLE 1) - DEFINITIONS

Section a).             Defined Terms.

 

For purposes of this

Amendment, “Partnership Agreement” shall mean the Second Amended and

Restated Agreement of Limited Partnership of Duke Realty Services Limited

Partnership, dated as of September 30, 1994, as amended by the First

Amendment to Second Amended and Restated Agreement of Limited Partnership of

Duke Realty Services Limited Partnership dated July 23, 1998, and the

Amendment to Second Amended and Restated Agreement of Limited Partnership of

Duke Realty Services Limited Partnership dated March 31, 1999.  All other capitalized terms used but not

defined herein shall the respective meanings ascribed to such terms in the

Partnership Agreement.

 

ARTICLE 2) - AMENDMENTS

 

Section a).             Assignment of Partnership Interest.

 

Subject to the terms and

conditions of this Amendment, DSI shall assign and transfer its entire

Partnership Interest in the Partnership to DRE as a liquidating distribution as

of the Effective Date.

 

Section b).             Assumption of Obligations.

 

By execution of this

Amendment, DRE agrees to (i) be fully bound by the terms and conditions of the

Partnership Agreement, (ii) accept the responsibilities of a general partner

under the Partnership Agreement, and (iii) assume the obligations of DSI as the

general partner in the Partnership to the extent and as provided in

Section 2.03 of the Partnership Agreement.

 

 

Section c).             Amended Definitions.

 

The following defined terms

in Section 1.04 of the Partnership Agreement are hereby amended to read as

follows:

 

“DRE” means Duke Realty Corporation, formerly known as Duke

Realty Investments, Inc., an Indiana corporation.

 

“General Partner” means Duke Realty Corporation, an Indiana

corporation.

 

Section d).             Special Partner Approval.

 

Each party to this Amendment

hereby consents to the assignment by DSI of its entire Partnership Interest to

DRE, and to the substitution of DRE as the sole general partner in the

Partnership.  The parties each expressly

acknowledge and agree this consent shall constitute Special Partner Approval as

required by Section 7.01 of the Partnership Agreement.

 

ARTICLE 3) - GENERAL PROVISIONS

 

Section a).             No Other Amendments.

 

Except as expressly otherwise

amended herein, the Partnership Agreement is in all respects ratified and

confirmed and shall remain in full force and effect in accordance with its

terms.

 

Section b).             Counterparts.

 

This Amendment may be signed

in any number of counterparts with the same effect as if the signatures thereto

and hereto were upon the same instrument.

 

Section c).             Subsequent Performance.

 

The parties hereto each

agree to execute and deliver such subsequent or supplemental documents as may

be reasonably necessary to consummate any of the transactions contemplated by

this Amendment.

 

Section d).             Governing Law.

 

This Amendment shall be

governed by and construed in accordance with the laws of the State of Indiana.

 

 

2EXHIBIT 10

EXHIBIT 10.12

 

AMENDMENT

ONE TO

DUKE

REALTY SERVICES LIMITED PARTNERSHIP

1993

STOCK OPTION PLAN

 

WHEREAS, Duke Realty Services Limited Partnership (“Partnership”)

maintains the Duke Realty Services Limited Partnership 1993 Stock Option Plan

(“Plan”), which became effective as of July 29, 1993; and

 

WHEREAS, pursuant to the provisions of Section 12 of the Plan, the

Board of Directors of Duke Services, Inc. retained the right to amend, suspend

or terminate the Plan or any portion thereof at any time; and

 

WHEREAS, by corporate resolutions, Duke Services, Inc. has approved and

adopted this Amendment One to the Plan, effective as of September 30, 1995,

contingent upon the approval and adoption of a new stock option plan for

officers and key employees of Duke Realty Investments, Inc. by the Board of

Directors and shareholders thereof; 

 

NOW, THEREFORE, Duke Realty Services, Inc. hereby amends the Plan as

follows:

 

1.             New Section 13 of

the Plan, regarding the discontinuance of the grant of options thereunder, is

hereby added to the Plan to read as follows:

 

“13.         Discontinuance of

Grant of Options.  No options shall

be granted under the Plan, effective as of September 30, 1995.  All options granted under the Plan prior to

such date, which lapse or otherwise terminate, will not be made available for

reissuance under the Plan.”

 

2.             New Section 14 of

the Plan, regarding termination of the Plan, is hereby added to the Plan to

read as follows:

 

“14.         Termination of

Plan.  The Plan is terminated

effective as of September 30, 1995, subject to the approval and adoption of a

new stock option plan for officers and key employees of Duke Realty

Investments, Inc. by the board of directors and shareholders thereof.  All options, and their related stock option

agreements, which were granted prior to September 30, 1995 shall remain in full

force and effect pursuant to their terms.”

 

The Plan shall 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 26(th) day of October,1995, but effective as of

September 30, 1995.EXHIBIT 10

EXHIBIT 10.13

AMENDMENT TWO TO

DUKE REALTY

SERVICES LIMITED PARTNERSHIP

1993 STOCK

OPTION PLAN

 

WHEREAS, Duke Realty

Services Limited Partnership (“Partnership”) maintains the Duke Realty Services

Limited Partnership 1 993 Stock Option Plan (“Plan”), which became effective as

of July 29, 1993; and

 

WHEREAS, pursuant to the

provisions of Section 12 of the Plan, the Board of Directors of Duke Services,

Inc. retained the right to amend, suspend or terminate the Plan or any portion

thereof at any time; and

 

WHEREAS, by corporate

resolutions, Duke Services, Inc. has approved and adopted this Amendment Two to

the Plan, effective as of the dates specified herein;

 

NOW,

THEREFORE, Duke Realty Services, Inc. hereby amends the Plan as follows:

 

1.             Section 3 of the Plan, regarding

the shares which may be made the subject of Awards, is hereby amended,

effective as of January 1, 1997, to read as follows:

 

“3.

Shares Subject to Plan. The maximum number of

shares of Stock which may be made the subject of Awards under the Plan is One

Million Three Hundred Fifteen Thousand (1,315,000). The REIT shall issue

directly to the grantee all shares of Stock the Company is required to deliver

pursuant to an Award. Such shares may be newly-issued shares, treasury shares

or shares acquired by the REIT specifically for this purpose. The Company, on

behalf of the grantee, will make payment to the REIT for the stock in an amount

equal to the exercise price of the shares. In the case of shares which the

Company is required to deliver pursuant to the exercise of an Option, such

obligation will first he satisfied from shares of Stock transferred by the

grantee to the Company in payment of the exercise price, which Stock shall be

valued for this purpose (but not necessarily for purposes of payment of the

exercise price by the grantee to the Company) at its Market Value on the date

as of which the new shares are issued.”

 

2.             The first sentence of Section 3 of

the Plan, regarding the shares which may be made the subject of Awards, is

hereby amended, effective as of August 25, 1997, to read as follows:

 

“The maximum number of

shares of Stock which may be made the subject of Awards under the Plan is Two

Million Six Hundred Thirty Thousand (2,630,000).”

 

3.             Section 7 of the Plan, regarding

the terms and conditions relating to Options granted under the Plan, is hereby

amended, effective as of July 29, 1993, by adding a subsection (g) to the end

thereof to read as follows:

“(g) In its discretion, the

Committee may permit the limited transferability of Options granted under the

Plan.’

 

4.             Section 8 of the Plan, regarding

the transfer limitations applicable to options granted under the Plan, is

hereby amended, effective as of July 29, 1993, to read as follows:

“8.         Transfer

Limitations.

 

(a)            No Option shall be

transferable, except by the grantee’s will or the laws of descent and

distribution. During the grantee’s lifetime, his Option shall be exercisable

(to the extent exercisable) only by him. The Option, and any rights and

privileges pertaining thereto, shall not be transferred, assigned, pledged or

hypothecated by the grantee in any way, whether by operation of law or

otherwise and shall not be subject to execution, attachment, or similar

process.

 

 

 

(b)            Notwithstanding the

provisions of subsection (a), the Committee may, in its sole discretion, permit

the transfer of Options granted under the Plan by a grantee to: (i) the spouse,

child or grandchildren of the grantee (“Immediate Family Members”); (ii) a

trust or trusts for the exclusive benefit of Immediate Family Members; or (iii)

a partnership or limited liability company in which the grantee andlor the

Immediate Family Members are the only equity owners, (collectively, “Eligible

Transferees”). Provided that, in the event the Committee permits the transferability

of Options granted to the grantee, the Committee may subsequently, in its

discretion, restrict the ability of the grantee to transfer the Options granted

to the grantee thereafter. An Option that is transferred to an Immediate Family

Member shall not be transferable by such Immediate Family Member, except for

any transfer by such Immediate Family Member’s will or by the laws of descent

and distribution upon the death of such Immediate Family Member.

 

(c)            In the event that

the Committee, in its sole discretion, permits the transfer of Options by a

grantee to an Eligible Transferee under this Section 8, the Options transferred

to the Eligible Transferee must be exercised by such Eligible Transferee and,

in the event of the death of such Eligible Transferee, by such Eligible

Transferee’s executor or administrator only in the same manner, to the same

extent and under the same circumstances (including, without limitation, the

time period within which the Options must be exercised) as the grantee or, in the

event of the grantee’s death, the executor or administrator of the grantee’s

estate, could have exercised such Options. The grantee, or in the event of

grantee’s death, the grantee’s estate, shall remain liable for all federal,

state, city and local taxes applicable upon the exercise of an Option by an

Eligible Transferee.’

 

5.             Section 9 of the Plan, regarding

the exercise of awards of Options under the Plan, is hereby amended, effective

as of July 29, 1993, to read as follows:

“9.         Exercise of A wards.

 

(a)           Full payment for Stock purchased

hereunder shall be made at the time the Option is exercised. Payment may be

made by delivering to the Company (a) cash; (b) at the discretion of the

Committee, whole shares of Stock (“Delivered Stock”) which (i) has been owned

by the grantee for more than six (6) months and has been paid for, within the

meaning of SEC Rule 144 (and, if such Stock was purchased from the Company by

use of a promissory note, such note has been frilly paid with respect to such

Stock), or (ii) was obtained by the grantee in the public market or otherwise

than through the exercise of an Option or under any other stock option plan

involving Stock; (c) at the discretion of the Committee, a combination of cash

and Delivered Stock; or (d) provided that a public market for the Stock exists,

(i) through a “same day sale” commitment from the grantee and a broker-dealer

that is a member of the National Association of Securities Dealers (“NASD

Dealer”) whereby the grantee irrevocably elects to exercise the Option and to

sell a portion of the Stock so purchased in order to pay the Option price, and

whereby the NASD Dealer irrevocably commits upon receipt of such stock to

forward the Option price directly to the Company; or (ii) through a “margin”

commitment from the grantee and an NASD Dealer whereby the grantee irrevocably

elects to exercise the Option and to pledge the Stock so purchased to the NASD

Dealer in a margin account as security for a loan from the NASD Dealer in the

amount of the Option price and whereby the NASD Dealer irrevocably commits upon

receipt of such Stock to forward the Option price directly to the Company.

Delivered Stock shall be valued by the Committee at its Market Value determined

as of the date of the exercise of the Option. No shares shall be issued until

full payment for them has been made, and a grantee shall have none of the

rights of a shareholder with respect to any shares until they are issued to

him. Upon payment of the lid purchase price, and any required withholding taxes,

the Company shall issue a certificate or certificates to the grantee evidencing

ownership of the shares purchased pursuant to the exercise of the Option which

contain(s) such terms, conditions and provisions as may he required and as are

consistent with the terms, conditions and provisions of the Plan and the stock

option agreement between the Company and the grantee.

 

(b)            For purposes of

this Section 9, payment for shares purchased hereunder may be delivered to the

Committee through such attestation or certification procedures as may be

established by the Committee from time to time, in its sole discretion.”

 

2

 

6.             New Section 1 5 of the Plan,

regarding the withholding of income and employment taxes pursuant to the

exercise of an Option, is hereby added to the Plan, effective as of July 29,

1993. to read as follows:

 

“15. Income and Employment Tax Withholding. The

grantee shall be solely responsible for paying to the Company all required

federal, state, city and local taxes applicable to his exercise of an Option

under the Plan. Provided, however the Committee, in its discretion and subject

to such rules as it may adopt may permit the grantee to satisfy, in whole or in

part, any withholding tax obligation which may arise in connection with the

exercise of the Option by having the Company retain shares of Stock which would

otherwise be issued in connection with the exercise of the Option or accept

delivery from the Grantee of shares of Stock which have a Market Value,

determined as of the dale of the deli very of such shares, equal to the amount

of the withholding lax to be satisfied by that retention or delivery.”

 

7.             The

Plan shall remain the same in all other respects except as provided by

Amendment Two  above.

 

IN WITNESS WHEREOF, Duke

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

Duke Realty Services Limited Partnership this Amendment Two this 25th

day August, 1997, but effective as of the dates specified herein.

 

3

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