Document:

form10k08ex10an.htm

    SECOND
AMENDMENT TO MASTER SERVICES AGREEMENT

    

    THIS SECOND AMENDMENT TO MASTER
SERVICES AGREEMENT (“Amendment”), made and
entered into as of December 23, 2008, by and between THE TAUBMAN REALTY GROUP
LIMITED PARTNERSHIP, a Delaware limited partnership, whose address is 200 East
Long Lake Road, Suite 300, Bloomfield Hills, Michigan  48304 (“Owner”), and THE
TAUBMAN COMPANY LLC, a Delaware limited liability company (successor by
conversion to The Taubman Company Limited Partnership, a Delaware limited
partnership), whose address is 200 East Long Lake Road, Suite 300, Bloomfield
Hills, Michigan  48304 (“Manager”), is based
upon the following:

     

           
A.           Owner and
Manager entered into a certain Master Services Agreement, dated November 30,
1992, as amended by that First Amendment to Master Services Agreement, dated
September 30, 1998 (as amended, the “Master Services
Agreement”), relating to the engagement of Manager, on a sole and
exclusive basis, to provide the services described in the Master Services
Agreement.

     

          B.           The
parties have agreed to amend the Master Services Agreement in the manner
provided herein. 

     

                    
NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as
follows:

     
1.           Section 8.1
of the Master Services Agreement is hereby deleted and the following is
substituted in its place and stead.

     

            
“Section
8.1                                Compensation.

     

        (1)           As
Manager’s compensation for providing all of the Development Services,
Acquisition Services, and Administrative Services contemplated under this
Agreement, Owner shall pay to Manager each month a multiple of total
compensation expense (current and deferred, excluding only contributions to
currently funded pension plans qualified under Section 401(a) of the Internal
Revenue Code, paid time off, insurance, and other fringe benefits) of all
personnel employed by Manager who are performing any of the foregoing
services.  The multiple shall vary depending on the nature of the
services being performed, as is set forth on Schedule 8.1 hereto.

    

    (2)           As
Manager’s compensation for providing all of the Management Services contemplated
under this Agreement, Manager shall be compensated as set forth in separate
property management agreements between Manager and each Owning
Entity.  As used herein, “Manager’s
Compensation” shall mean and include all of Manager’s compensation
described in this subsection (2) and subsection (1) above.

    

    (3)           Manager
shall invoice Owner monthly and Owner shall pay such invoice within thirty (30)
days.

    

    (4)           Manager’s
estimate of Manager’s Compensation shall be set forth in the annual budget for
each Fiscal Year, and Manager’s Compensation shall not exceed such estimate
without Owner’s prior approval.”

    

    2.           
 Capitalized terms used herein and not otherwise defined herein shall have
the meaning ascribed to them in the Master Services Agreement.

     

                   
3.             As
modified and amended by this Amendment, the Master Services Agreement remains in
full force and effect and is hereby ratified and confirmed.

    The parties hereto have executed this
Amendment on the date first above written.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

                                        THE TAUBMAN REALTY
GROUP

                                        LIMITED PARTNERSHIP,
a Delaware

                                        limited
partnership

    

                                        By:           
/s/ Chris B.
Heaphy                                                      

                                        Chris B.
Heaphy

                                        Its:           Authorized
Signatory

     

    “Owner”

    

    

    

                                        THE TAUBMAN COMPANY
LLC, a

                                        Delaware limited
liability company

    

                                        By:            /s/ Steven
Eder

                                        Steven
Eder

    
      	
               
      

            	
              Its:

            	
              Senior
      Vice President, Capital Markets and
Treasurer

            

    

    

    “Manager”form10k08ex10ao.htm

    

      

      SUMMARY
OF MODIFICATION TO THE EMPLOYMENT AGREEMENT BETWEEN THE TAUBMAN COMPANY ASIA
LIMITED AND MORGAN PARKER

      (THE
“EMPLOYMENT AGREEMENT”)

      

      

      

      Provision
2.3 of the Employment Agreement has been modified to provide that vacation time
may be accrued by Mr. Parker up to 150% of the annual leave provided for in the
Employment Agreement. This change was made to conform this provision to the
standard policy for employees of the Company.form10k08ex10ap.htm

    
      
         

        
          	 For use with
      Plan participants who do not elect to use the 401A transition
    rule.

        

         

      

       

       

    

    

    FORM
OF TAUBMAN CENTERS, INC. NON-EMPLOYEE

    DIRECTORS’
DEFERRED COMPENSATION PLAN

    AMENDMENT
AGREEMENT

    

     

    
      	Participant
      Name:	 	  (the
      “Participant”)

    

     

     

                                                                                

    Pursuant
to Section 4.1 of the Taubman Centers, Inc. Non-Employee Directors’ Deferred
Compensation Plan (the “Plan”), Taubman Centers, Inc. (the “Company”) and the
Participant amend the Plan as follows for compliance with Section 409A of the
Internal Revenue Code of 1986, amended (“Code Section 409A”).  This
Amendment Agreement (the “Amendment” amends the Plan, as it applies to the
Participant and the Company, is effective immediately.

     

    1. Section
1.6 of the Plan is amended to read as follows:

     

    “1.6                      ‘Change of Control’ means
either:

     

    (a)           a
majority of the Board of Directors is replaced during a 12-month period by
directors whose appointment or election was not approved by a vote of at least a
majority of the directors comprising the Board of Directors on the date
immediately preceding the removal or election; or

     

    (b)           the
acquisition by any person or more than one person acting as a group other than
A. Alfred Taubman or any of his immediate family members or lineal descendents,
any heir of the foregoing, any trust for the benefit of any of the foregoing,
any private charitable foundation, or any partnership, limited liability
company, or corporation owned or controlled by some or all of the foregoing, of
ownership of more than 50% of the total fair market value or total voting power
of the outstanding voting capital stock of the Company.”

     

    2. Article I
of the Plan is amended by the addition of a new Section 1.14 at the end thereof,
reading as follows:

     

    “1.14                      ‘Termination’ or ‘termination’ means, as regards
a Director’s termination of service on the Board of Directors, a ‘separation
from service’ as that term is defined under Section 409A of the Internal Revenue
Code of 1986, as amended, and the rules at Treasury Regulations Section
1.409A-1(h).”

     

    3. Section
3.4 of the Plan is amended to read as follows:

     

    “3.4  Vesting and Payment of
Accounts.  Each Account shall be 100% veseted at all times, and
shall be Paid to the Director within 30 days following the termination of the
Director’s service on the Board of Directors.”

     

    4. Section
4.2 of the Plan is amended to read as follows:

     

    “4.2  Change of Control
Event.  On the occurrence of a Change of Control Event, the
Plan shall terminate immediately, without any further action on the part of the
Committee, and each Director shall be Paid his Account within 30 days following
the date of the Change of Control Event.”

     

    5. The
capitalized terms used in this Amendment that are not otherwise defined in this
Amendment are defined under the Plan document.

     

    By their
signatures below, the Participant and the Company agree to and accept the terms
of this Agreement.

     

     

     

    
    

     

    
      	 SIGNED:	 	 	  TAUBMAN CENTERS, INC.
      
	 	 	  

              By:

            	 
	 Director (Plan
      Participant)	 	
              Printed Name:

            	 
	 Printed
      Name	 	
               Title: 

            	 
	Date	 	
              Date::form10k08ex10aq.htm

    FIRST
AMENDMENT

    TO

    THE
TAUBMAN COMPANY SUPPLEMENTAL RETIREMENT SAVINGS PLAN

    
      
        
 

    

    

    The
Taubman Company LLC (the “Company”, and formerly known as “The Taubman Company
Limited Partnership”) has adopted and maintains The Taubman Company Supplemental
Retirement Savings Plan, originally effective January 1, 1994 (the
“Plan”).

     

    Pursuant
to Article X of the Plan, the Company has the right to amend the Plan at any
time.

     

    The
Company desires to amend the Plan for compliance with Section 409A of the
Internal Revenue Code of 1986, as amended.

     

    Accordingly,
the Plan is amended, effective immediately, in the following
respects:

     

    1. The term
“Supplemental Employer Contribution” is replaced with the term “Employer Fixed
Contribution” wherever it appears in the Plan, so as to reflect the current
Employer contribution nomenclature made under the 401(k) Plan as amended and
restated effective as of January 1, 2007.

     

    2. Article
II of the Plan is amended by the addition of a new Section 2.13 at the end
thereof, reading as follows:

     

    “2.13                      ‘Termination of employment’ and
similar terms means a ‘separation from service’ as that term is defined under
Code Section 409A and the regulations promulgated thereunder.”

     

    3. Section
4.2 of the Plan is amended by the addition of the following sentence at the end
thereof, reading as follows:

     

    “Any change in the amount of Employer
Matching Contributions to be made by the Company for the benefit of an Employee
for a Plan Year under the preceding formula that is caused by any action or
inaction by the Employee shall be limited as provided under Treasury Regulations
Section 1.409A-2(a)(9).”

     

    4. Article
VI of the Plan is amended to read as follows:

     

    “All vested amounts credited to an
Employee’s Account shall be paid to the Employee by the Company in cash in a
single lump sum within 30 days of the Employee’s termination of
employment.  If the Employee dies before full payment of the amount in
his Account has been made, any remaining amount shall be paid in the same manner
as in the preceding sentence to the Employee’s Beneficiary.  No
amounts credited to an Employee’s Account shall be paid at any other time or in
any other form.

     

    Notwithstanding any other provision of
the Plan to the contrary, if payment is made on account of the Employee’s
termination of employment, and the Employee is a ‘specified employee’ as
determined under the default rules under Code Section 409A on such date, then
the payment will be made on the date that is the six-month anniversary of the
date of the Employee’s termination of employment, or, if earlier, the date of
the Employee’s death.”

     

    5. Article X
of the Plan is amended by the addition of the following sentence at the end
thereof, reading as follows:

     

    “Notwithstanding the preceding
provisions of this Article X, upon Plan termination, each Employee’s vested
Account shall be paid in cash in a single lump sum under the circumstances
permitted in Treasury Regulations Section 1.409A-3(j)(4)(ix), pertaining to plan
terminations and liquidations,  including but not limited to the
requirement that the Company and its controlled group member affiliate companies
not establish another account-based deferred compensation plan covering the
Employees at any time during the succeeding three calendar years.”

     

    The
Taubman Company LLC has caused this First Amendment to The Taubman Company
Supplemental Retirement Savings Plan to be executed by its duly authorized
representative this 12th day of
December, 2008.

     

    
 

     

    
      	 
      	
              THE
      TAUBMAN COMPANY LLC

               

               

              By: /s/ Chris B.
      Heaphy                                   
      

               

              Printed
      Name: Chris B. Heaphy

               

              Title: Senior
      Vice President, General Counseland Secretary

               

              Date:
      December 12, 2008

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