Document:

Exhibit
10.46

    Schedule
of 2009 Annual Incentive Bonus Compensation Payouts

    and
2009 and 2010 Base Salaries for Named Executive Officers

    

    
      
        
          
            
              
                	
                        Named Executive Officer

                      	 	
                        2009 Base Salary

                      	 	 	
                        2010 Base Salary

                      	 	 	
                        2009 Annual 

                        Incentive Bonus 

                        Compensation (1)

                      	 
	
                        Paul
      O. Bower (2)

                      	 	$	375,000	 	 	 	–	 	 	$	258,000	 
	
                        Randall
      H. Brown

                      	 	$	253,000	 	 	$	258,060	 	 	$	219,604	 
	
                        Craig
      L. Cardwell (3)

                      	 	$	197,000	 	 	 	–	 	 	$	143,416	 
	
                        Randy
      Churchey (4)

                      	 	 	–	 	 	$	400,000	 	 	 	–	 
	
                        Thomas
      J. Hickey

                      	 	$	168,500	 	 	$	140,000	 	 	$	69,338	 
	
                        Thomas
      Trubiana

                      	 	$	190,000	 	 	$	193,800	 	 	$	164,920	 

              

            

          

        

      

    

     

    
      

    

    (1)
Amounts listed in this column reflect annual incentive cash bonuses paid
pursuant to the Incentive Compensation Plan for Executive Officers.

    (2)
Effective December 31, 2009, Mr. Bower retired from the offices of President and
Chief Executive Officer of Education Realty Trust, Inc.

    (3)
Effective February 12, 2010, Mr. Cardwell concluded his employment with
Education Realty Trust, Inc. by resigning from the offices of Executive Vice
President of Education Realty Trust, Inc. and President of Allen & O’Hara
Education Services, Inc.

    (4)
Effective January 1, 2010, the Board of Directors appointed Randy Churchey to
serve as President and Chief Executive Officer of Education Realty Trust,
Inc.Exhibit
10.47

    

    AMENDMENT
NO. 1

    TO
THE

    EDUCATION
REALTY TRUST, INC.

    2004
INCENTIVE PLAN

    

    This Amendment No. 1 (this “Amendment”)
to the to the Education Realty Trust, Inc. 2004 Incentive Plan (the “Plan”), is
made as of March 11, 2010 by the Compensation Committee (the “Committee”)
of the Board of Directors of Education Realty Trust, Inc., a Maryland
corporation.  All capitalized terms used but not defined in this
Amendment shall have the meanings ascribed to such terms in the
Plan.

    

    The Plan is hereby amended as
follows:

    

    1.           The
final sentence of Section 3 is amended and restated as follows:

    

    Notwithstanding anything herein to the
contrary, no Participant may be granted Incentive Awards (excluding Restricted
Stock Awards subject only to time-based vesting restrictions) covering an
aggregate number of Shares in excess of one hundred thousand (100,000) in any
calendar year, and any Shares subject to an Incentive Award which again become
available for use under this Plan after the cancellation, expiration or exchange
of such Incentive Award thereafter shall continue to be counted in applying this
calendar year Participant limitation.

    

    2.           All
other terms and conditions of the Plan shall be unchanged and remain in full
force and effect.

    

    Signature
Page Follows

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the Committee has
executed this Amendment as of the day and year first above written.

    

    
      
        	
                /s/
      Monte J. Barrow

              
	
                Monte
      J. Barrow

              
	 
      
	
                /s/ William J. Cahill,
  III

              
	
                William
      J. Cahill, III

              
	 
      
	
                /s/ John L. Ford

              
	
                John
      L. Ford

              
	 
      
	
                /s/ Howard A. Silver

              
	
                Howard
      A. SilverUnassociated Document

    HARRIS
& HARRIS GROUP, INC.

    EMPLOYEE
STOCK PURCHASE PLAN

     

    1.           Purpose; Effective
Date.  The purpose of the Plan is to encourage employee
participation in the ownership and economic progress of the Company by providing
employees of the Company and its Designated Subsidiaries an opportunity to
purchase Common Stock.

     

    The Plan
was adopted and approved by the Board on March 11, 2010.

     

    2.           Definitions.

     

    a.           "Agent" means any administration of the
Plan to which the Committee delegates all or a portion of the administration
of the
Plan.

     

    b.           “Board” means the Board of Directors of the
Company.

     

    c.           “Change in Capitalization” means any dividend or other distribution
(whether in the form of cash, Stock, deemed dividends or other property),
recapitalization, Stock split, reverse split, reorganization, merger, consolidation,
spin-off, combination, repurchase, or share exchange, or other similar corporate
transaction or event.

     

    d.           “Code” means the Internal Revenue Code of 1986, as
amended from time to time, and the rules and regulations promulgated
thereunder.

     

    e.           “Committee” means the Board, the Compensation Committee
of the Board, or such other Committee of the Board which is appointed by the Board to
admin­ister the Plan and to perform the functions set forth
herein.

     

    f.           “Common Stock” means shares of common stock, par value $0.01 per share, of the
Company.

     

    g.           “Company” means Harris & Harris Group,
Inc., a
corporation organized under
the laws of the State of New York, or any successor corporation.

     

    h.           “Compensation” means the pre-tax fixed salary or base wage
paid by the Company to an
Employee as reported by the Company to the United States government (or other
applicable government) for income tax purposes, including an
Employee’s portion of salary deferral
contributions pursuant to Section 401(k) of the Code and any amount excludable pursuant to
Section 125 of the Code, but excluding any bonus, fee, overtime pay, severance
pay, expenses, stock option or other equity incentive income, or other special
emolument or any credit or benefit under any employee plan maintained by the
Company.

     

    i.           “Continuous Status as an
Employee” means the absence of any interruption or
termination of service as an Employee.  Continuous Status as an
Employee shall not be considered interrupted in the case of a leave of absence
agreed to in writing by the
Company (including, but not limited to, military or sick leave), provided that such leave is for a period of not
more than 90 days or reemployment upon the expiration of such leave is
guaranteed by contract or statute.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    j.           “Designated Subsidiaries” means the subsidiaries of the Company which
have been designated by the Company from time to time in its sole discretion as
eligible to participate in the Plan.

     

    k.           “Employee” means any person, including an officer, who
is regularly employed by the Company or one of its Designated
Subsidiaries.

     

    l.           “Exchange Act” means the Securities Exchange Act of 1934, as
amended from time to time, and the rules and regulations promulgated
thereunder.

     

    m.           “Fair Market Value” per share as of a particular date
means, unless otherwise determined by the Board in good
faith, (i) the closing
sales price per share of Common Stock on the national securities exchange on
which the Common Stock is principally traded, on such date, without regard to any third-market or
aftermarket transactions
affecting such closing price on such date, (ii) if the Common Stock is principally
traded in an established over-the-counter market, the mean between the latest bid and ask
per share of Common Stock on such over-the-counter market or (iii) if the shares of Common Stock are not then listed on a
national securities exchange or traded in an over-the-counter market, such value
as the Committee, in its sole discretion, shall determine.

     

    n.           “Investment Company Act” means the Investment Company Act of
1940, as amended.

     

    o.           “Participant” means an Employee who participates in the
Plan.

     

    p.           “Plan” means this Harris & Harris Group,
Inc. Employee Stock Purchase Plan, as amended
from time to time.

     

    q.           “Plan Year” means the calendar year, or such other period
or periods determined by the Committee.

     

    r.           “Purchase Period” means the first 10 business days of each calendar quarter of each Plan Year during the effectiveness of the Plan, or
such other date or dates determined by the Committee at least 20 days in advance
of a particular calendar quarter.

     

    3.           Eligibility.

     

    Subject
to the requirements of Section 4a hereof, any person who is (i) an Employee as
of the beginning of a calendar quarter following adoption of the Plan and (ii)
who is regularly scheduled to work at least 20 hours per week and at least
five months per
year shall be eligible to participate in the Plan.

     

    
      
        
        

      

      
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    4.           Participation.

     

    a.           Each eligible Employee may elect to
become a Participant in the Plan only by filing an agreement with the Company
authorizing payroll deductions for the following calendar quarter (as set forth in Section 5 hereof).  Such authorization
shall remain in effect for all subsequent
calendar
quarters during which the
Participant is an Employee eligible to participate in the Plan, until modified
or terminated by the Participant. Such agreement shall obligate the
Employee to purchase shares
through the Plan in accordance with the terms set forth herein and other
administrative terms and conditions adopted by the
Committee.

     

    b.           The maximum aggregate annual payroll
deduction permitted
for any single Employee in
any single calendar year under the Plan is one hundred thousand
dollars ($100,000.00), prorated for partial years, or such other amount as may
be determined prospectively
by the Committee in its
discretion from time to
time and communicated to
Employees.

     

    c.           During each Purchase Period the Company's
Agent shall purchase the
number of shares of Common Stock purchasable on behalf of the Participants out
of the payroll deductions authorized by the Participants with respect to
the immediately preceding calendar
quarter, shall average
price all such purchases and shall allocate to the account of
each Participant the number of shares of Common Stock equal to the payroll
deduction for such Participant for such calendar quarter divided by such average price for such Purchase Period.

     

    d.           The shares of Common Stock purchased
during each Purchase Period that are then credited to the Participant’s account under the Plan shall be deemed
to be transferred to the Participant on completion of the Purchase Period and, except as otherwise
provided herein, the Participant shall thereafter have all rights of a
stockholder with respect to such shares.

     

    5.           Payroll
Deductions.

     

    a.           Subject to the aggregate limitation in
Section 4b, a Participant
may increase or decrease
such payroll deduction at any time, but not more frequently than once per
calendar quarter, by filing a new authorization form
with the Committee;
provided, however, that in
the event such an authorization is received by the Committee during the 20-day period prior to the commencement of a
Purchase Period, such
authorization shall have no effect until the commencement of the following
calendar quarter.

     

    b.           All payroll deductions made with respect to a Participant hereunder shall be credited to such
Participant’s account under the
Plan.

     

    6.           Delivery of Common
Stock.

     

    Shares of
Common Stock held in a Participant’s account under the Plan may not be withdrawn
by such Participant until the earlier to occur of (i) such Participant’s
termination of employment with the Company and (ii) such time as the number of
shares of Common Stock beneficially owned by such Participant (whether acquired
pursuant to the Plan or otherwise) is in excess of the number of shares required
to be held by such Participant pursuant to the Company’s stock ownership
guidelines as in effect from time to time; provided, that any such in-service
withdrawal shall be permitted only with respect to the number of shares of
Common Stock in excess of such Company stock ownership
requirement.  Notwithstanding any other provision of the Plan, no
shares of Common Stock may be withdrawn by a Participant prior to the date that
is six months following the expiration of the Purchase Period for which such
shares were allocated to the Participant’s account unless such withdrawal
follows the termination of such Participant’s employment with the
Company.  As promptly as practicable after receipt by the Committee of
a written request for withdrawal of Common Stock from any Participant, the Agent
shall arrange the delivery to such Participant of a stock certificate
rep­resenting the shares of Common Stock which the Participant is permitted
and has requested to withdraw.  Shares of Common Stock received upon
stock dividends or stock splits shall be treated as having been purchased during
the Purchase Periods to which they relate.  A Participant's interest
in the account, and shares of Common Stock to be delivered to a Participant
under the Plan, shall be registered in the name of the Participant or, at the
election of the Participant, in the name of the Participant and another person
as joint tenants with rights of survivorship.

     

    
      
        
        

      

      
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    7.           Withdrawal; Termination of
Employment.

     

    a.           A Participant may withdraw from participation in the Plan with respect to any calendar quarter at any time, by giving written notice to the
Company; provided, however,
that in the event such notice is received by the Committee during the 20-day
period prior to the commencement of a Purchase Period, such authorization shall
have no effect until the commencement of the following calendar
quarter.  In such event, any payroll deductions credited to such a Participant’s account that have not been used to purchase
shares of Common Stock
shall be returned (without interest) to such Participant, and such Participant shall not be eligible to participate with
respect to the two
Purchase Periods that immediately follow the
calendar quarter
during which such
Participant withdrew from
the Plan.

     

    b.           Upon termination of a
Participant’s Continuous Status as an
Employee for any reason, including voluntary termination,
retirement or death, the payroll deductions credited to such
Participant’s account (that have not been used to
purchase shares of Common Stock) shall be returned to such Participant or, in
the case of such Participant’s death, to the person or persons entitled
thereto under Section 12 hereof, and such Participant’s participation in the Plan shall be automatically
terminated.

     

    8.           Dividends, Deemed Dividends
and Interest.

     

    a.           Cash dividends paid on Common Stock held
in a Participant’s account shall be distributed to Participants in
cash. Shares of Common Stock held in a
Participant’s account shall also be eligible for any
deemed dividends paid on such shares following purchase by such
Participant.  Dividends paid in Common Stock, or stock splits of the Common Stock, shall be credited to the
accounts of Participants.  Dividends on Common Stock held in a
Participant’s account which are paid in property other than cash or
Common Stock shall be distributed to Participants as soon as practicable.

     

    
      
        
        

      

      
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    b.           No interest shall accrue on or be
payable with respect to the payroll deductions of a Participant in the
Plan.

     

    9.           Administration.  The
Plan shall be administered by the Committee, and the Committee may select an
administrator to whom its duties and responsibilities hereunder may be
delegated.  The Committee shall have full power and authority, subject
to the provisions of the Plan, to promulgate such rules and regulations as it
deems necessary for the proper administration of the Plan, to interpret the
provisions and supervise the administration of the Plan, and to take all action
in connection therewith or in relation thereto as it deems necessary or
advisable.  Any decision reduced to writing and signed by a majority
of the members of the Committee shall be fully effective as if it had been made
at a meeting duly held and shall be binding on all parties.  The
Company shall pay all expenses incurred in the administration of the
Plan.  No member of the Committee shall be personally liable for any
action, determination, or interpretation made in good faith with respect to the
Plan, and all members of the Committee shall be fully indemnified by the Company
with respect to any such action, determination or interpretation.

     

    10.           Designation of
Beneficiary.

     

    a.           A Participant may file, on forms supplied by
and deliv­ered to the Company, a written designation of a beneficiary who is
to receive any shares and cash remaining in such Participant’s account under the Plan in the event of
the Participant’s death.

     

    b.           Such designation of beneficiary may be changed by the
Participant at any time by written notice.  In the event of the death
of a Participant and in the absence of a beneficiary validly designated under
the Plan who is living at the time of such Participant’s death, the Company shall deliver shares of Common
stock and/or cash to the executor or administrator of the estate of the
Participant or, if no such executor or administrator has been appointed (to the
knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the
spouse or to any one or more dependents or relatives of the Participant, or if
no spouse, dependent or relative is known to the Company, then to such other
person as the Company may designate.

     

    11.           Transferability.  Neither
payroll deductions credited to a Participant’s account nor any rights to receive
shares under the Plan may be assigned, transferred, pledged or otherwise
disposed of in any way (other than by will, the laws of descent and distribution
or as provided in Section 12 hereof) by the Participant.  Any such
attempt at assignment, transfer, pledge or other disposition shall be without
effect, except that the Company may treat such act as an election to withdraw
funds in accordance with Section 7 hereof.

     

    12.           Use of
Funds.  All payroll deductions received or held by the Company
under the Plan may be used by the Company only for purchases under the Plan, and
the Company shall be obligated to segregate such payroll
deductions.

     

    13.           Reports.  Individual
accounts shall be maintained for each Participant.  Statements of
account shall be given to Participants as soon as practicable following each
Purchase Period, which statements shall set forth the amounts of payroll
deductions, the per share purchase price, the number of shares of Common Stock
purchased, the aggregate shares in the Participant’s account and the remaining
cash balance, if any.

     

    
      
        
        

      

      
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    14.           Effect of Certain
Changes.  In the event of a Change in Capitalization, the
Committee shall determine in its sole discretion the appropriate equitable
adjustments, if any, to be made under the Plan.

     

    15.           Amendment or
Termination.  The Board may at any time ter­minate or amend
the Plan at any time and for any reason or no reason.  If the Plan is
terminated less than 20 days prior to or during a Purchase Period, such
termination shall be effective only at the end of such Purchase Period and all
purchases for such Purchase Period shall be completed, and all shares allocated
in accordance with the Plan, before giving effect to such Plan
termination.

     

    16.           Notices.  All
notices or other communications by a Participant to the Company under or in
connection with the Plan shall be deemed to have been duly given when received
in the form specified by the Company at the location, or by the person,
designated by the Company for the receipt thereof.

     

    17.           Regulations and Other
Approvals; Governing Law.

     

    a.           The obligations of the Company hereunder shall be subject to all applicable laws,
rules and regulations, including all applicable federal and state securities
laws, and the obtaining of
all such approvals by governmental agencies as may be deemed necessary or
appropriate by the Committee.

     

    b.           This Plan and the rights of all persons
claiming hereunder shall be construed and determined in accordance with the laws
of the State of New York
without giving effect to the choice of law principles thereof, except to the
extent that such law is preempted by federal law.

     

    
      
        
        

      

      
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