Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.96

January 23, 2007

Dear Sue:

It is my pleasure to extend to you an offer of employment as Sr. Vice President of Human Resources
with StarTek, Inc. In this position, you will report directly Larry Jones, CEO.

Start Date

Your start date is anticipated to be Tuesday, February 6th, 2007.

Location

You will be at our Denver Headquarters.

Base Compensation

Your base compensation will be $220,000 per year, paid semi-monthly. You will be eligible for
future annual salary increases based upon performance and goal achievement.

Stock Options

Upon the Board of Directors approval, you will be awarded options to purchase 100,000 shares of
StarTek, Inc. common stock. The strike price for these shares will be the later of; your hire date
or the date of approval from the Board of Directors. It is anticipated that 50,000 shares will be
awarded at the next Board of Directors meeting in February, with the remaining shares being granted
subject to a shareholders vote to increase the number of available shares in May. Vesting in over
four years; 25% will vest after one year and monthly thereafter. These options will vest 100% on a
change of control.

Variable Compensation Eligibility

You are eligible to participate in the StarTek Leadership Incentive Compensation Plan. Your
targeted incentive eligibility is 40% of your actual base earnings. Targets will be set by the
Board of Directors annually and payments will be made annually after the Company’s fiscal results
are reported.

Paid Time Off

You will be eligible to accrue up to four weeks of paid time off following 90 days of service.

Severance

StarTek will offer you 9 months of severance and 9 months of bonus in the event of termination of
employment from StarTek, Inc. other than for “cause.” “Cause” shall require a reasonable good
faith determination by StarTek, Inc. and is defined as (1) an act or acts constituting a felony;
(2) an act or acts constituting dishonesty or disloyalty with respect to StarTek; (3) an act or
acts constituting fraud; and/or (4) an act or acts that materially adversely affect StarTek’s
business or reputation.

 

 

 

Benefits

You will be eligible for Health and Welfare Benefits on the first day of the month following hire
date. You will also be given additional materials on the other pertinent StarTek USA, Inc.
benefits at the time of your orientation.

Employment at Will

Your employment by StarTek, Inc. is “at will” meaning that you are free to terminate your
employment with StarTek, Inc. at any time for any reason and that StarTek, Inc. is also free to
terminate your employment at any time for any reason.

Sue, we are very excited to have you as part of our team. We believe you possess the skills and
background that our organization is looking for as we move toward our bright future. We are
confident that you will play a significant role in helping shape the future success of StarTek.

Sincerely,

	 	 	 
	     /s/ A. Laurence Jones
 

	 	 
	 
	 	 
	A. Laurence Jones
	 	 
	President and CEO
	 	 

			
	Cc:	 	Shelby Peralta, SVP Human Resources

Erin Fleck, Compensation Manager

I, Sue Morse, accept this offer with StarTek, Inc.

Signed  /s/ Sue Morse. 

Date      2/8/07     .Filed by Bowne Pure Compliance

 

Exhibit 10.97

February 14, 2007

Dear Michael:

It is my pleasure to extend to you an offer of employment as General Counsel, Senior Vice President
&Secretary with StarTek, Inc. In this position, you will report directly the President and Chief
Executive Officer.

Start Date

Your start date is anticipated to be Monday, February 19, 2007.

Location

You will be at our Denver Headquarters.

Base Compensation

Your base compensation will be $175,000 per year, paid semi-monthly. You will be eligible for
future annual salary increases based upon performance and goal achievement.

Stock Options

Upon the Board of Directors approval, you will be awarded options to purchase 65,000 shares of
StarTek, Inc. common stock. It is anticipated that 32,500 shares will be awarded at the February
19, 2007 Board of Directors meeting, with the remaining shares being granted subject to a
shareholders vote to increase the number of available shares in May, 2007. The strike price for
shares awarded on February 19, 2007 will bethe closing price as of that date. The strike price of
the remaining shares will be the closing price on the date awarded by the Board of Directors.
Vesting in over a four year period; 25% will vest after one year and monthly thereafter. *Market
closed 2/19/2007 for Presidents Day. 2/20/2007 will be strike price for shares. (STP 2-20-07)

Variable Compensation Eligibility

You are eligible to participate in the StarTek Leadership Incentive Compensation Plan. Your
targeted incentive eligibility is 40% of your actual base earnings. Targets will be set by the
Board of Directors annually and payments will be made annually after the Company’s fiscal results
are reported.

Paid Time Off

You will be eligible to accrue up to four weeks of paid time off following 90 days of service.

Benefits

You will be eligible for Health and Welfare Benefits on the first day of the month following hire
date. You will also be given additional materials on the other pertinent StarTek USA, Inc.
benefits at the time of your orientation.

 

 

 

Employment at Will

Your employment by StarTek, Inc. is “at will” meaning that you are free to terminate your
employment with StarTek, Inc. at any time for any reason and that StarTek, Inc. is also free to
terminate your employment at any time for any reason.

Michael, we are very excited to have you as part of our team. We believe you possess the skills
and background that our organization is looking for as we move toward our bright future. We are
confident that you will play a significant role in helping shape the future success of StarTek.

Sincerely,

	 	 	 
	     /s/ A. Laurence Jones
 

	 	 
	 
	 	 
	A. Laurence Jones
	 	 
	President and CEO
	 	 

			
	Cc:	 	Sue Morse, Senior Vice President, Human Resources

I, Michael Clayton, accept this offer with StarTek, Inc.

Signed  /s/ Michael Clayton .

Date      2/19/07     .Filed by Bowne Pure Compliance

 

Exhibit 10.98

January 23, 2007

Dear Mary Beth:

It is my pleasure to extend to you an offer of employment as Sr. Vice President of Business
Development with StarTek, Inc. In this position, you will report directly Larry Jones, CEO.

Start Date

Your start date is anticipated to be January 29th, 2007.

Location

You will be at our Denver Headquarters.

Base Compensation

Your base compensation will be $215,000 per year, paid semi-monthly. You will be eligible for
future annual salary increases based upon performance and goal achievement.

Stock Options

Upon the Board of Directors approval, you will be awarded options to purchase 100,000 shares of
StarTek, Inc. common stock. It is anticipated that 50,000 shares will be awarded at the next Board
of Directors meeting in February, with the remaining shares being granted subject to a shareholders
vote to increase the number of available shares in May. The strike price for these shares will be
the later of; your hire date or the date of approval from the Board of Directors. Vesting in over
four years; 25% will vest after one year and monthly thereafter. These options will vest 100% on a
change of control.

Variable Compensation Eligibility

You are eligible to participate in the StarTek Leadership Incentive Compensation Plan. Your
targeted incentive eligibility is 40% of your actual base earnings. Targets will be set by the
Board of Directors annually and payments will be made annually after the Company’s fiscal results
are reported.

Paid Time Off

You will be eligible to accrue up to four weeks of paid time off following 90 days of service.

Severance

StarTek will offer you 9 months of severance and 9 months of bonus in the event of termination of
employment from StarTek, Inc. other than for “cause.” “Cause” shall require a reasonable good
faith determination by StarTek, Inc. and is defined as (1) an act or acts constituting a felony;
(2) an act or acts constituting dishonesty or disloyalty with respect to StarTek; (3) an act or
acts constituting fraud; and/or (4) an act or acts that materially adversely affect StarTek’s
business or reputation.

 

 

 

Benefits

You will be eligible for Health and Welfare Benefits on the first day of the month following hire
date. You will also be given additional materials on the other pertinent StarTek USA, Inc.
benefits at the time of your orientation.

Employment at Will

Your employment by StarTek, Inc. is “at will” meaning that you are free to terminate your
employment with StarTek, Inc. at any time for any reason and that StarTek, Inc. is also free to
terminate your employment at any time for any reason.

Mary Beth, we are very excited to have you as part of our team. We believe you possess the skills
and background that our organization is looking for as we move toward our bright future. We are
confident that you will play a significant role in helping shape the future success of StarTek.

Sincerely,

	 	 	 
	     /s/ A. Laurence Jones
 

	 	 
	 
	 	 
	A. Laurence Jones
	 	 
	President and CEO
	 	 

			
	Cc:	 	Shelby Peralta, SVP Human Resources

Erin Fleck, Compensation Manager

I, Mary Beth Loesch, accept this offer with StarTek, Inc.

Signed  /s/ Mary Beth Loesch. 

Date      1/29/07     .EXHIBIT 10.1 

SECOND AMENDED AND
RESTATED 

1998 EQUITY
PARTICIPATION PLAN
OF

                                    KIMCO REALTY CORPORATION 

February 26th, 2007 

        Kimco
Realty Corporation, a Maryland corporation, originally adopted The 1998 Equity
Participation Plan of Kimco Realty Corporation, effective June 18, 1998, for the benefit
of its eligible employees, consultants and directors.  The 1998 Equity Participation Plan
of Kimco Realty Corporation was previously amended and restated in its entirety as of
October 20, 2004. In furtherance of the purposes of the Plan and in order to further
amend the Plan in certain respects, this Second Amended and Restated 1998 Equity
Participation Plan of Kimco Realty Corporation (the “Plan”) is hereby adopted
as of the date hereof.  This amendment constitutes a complete amendment, restatement and
continuation of the 1998 Equity Participation Plan of Kimco Realty Corporation. 

        The
Plan consists of two plans, one for the benefit of key Employees (as such term is defined
below) and Consultants and one for the benefit of Independent Directors (as such term is
defined below). 

        The
purposes of this Plan are as follows: 

        (1)
     To provide an additional incentive for directors, key Employees and Consultants to
further the growth, development and financial success of the Company by personally
benefiting through the ownership of Company stock and/or rights which recognize such
growth, development and financial success. 

        (2)
     To enable the Company to obtain and retain the services of directors, key Employees
and Consultants considered essential to the long range success of the Company by offering
them an opportunity to own stock in the Company and/or rights which will reflect the
growth, development and financial success of the Company. 

ARTICLE I.

                                           DEFINITIONS 

Section 1.1
      General. 

        Wherever
the following terms are used in this Plan they shall have the meanings specified below,
unless the context clearly indicates otherwise. 

Section 1.2
      Administrator. 

        “Administrator” shall
mean the entity that conducts the general administration of the Plan as provided herein.
 With reference to the administration of the Plan with respect to Options

 
	 	
	 

granted to Independent
Directors, the term “Administrator” shall refer to the Board. With reference to
the administration of the Plan with respect to any other Award, the term “Administrator” shall
refer to the Committee unless the Board has assumed the authority for administration of
the Plan generally as provided in Section 9.1. 

Section 1.3
      Award. 

        “Award” shall
mean an Option, a Restricted Stock award or a Deferred Stock award which may be awarded
or granted under the Plan (collectively, “Awards”). 

Section 1.4
      Award Agreement. 

        “Award
Agreement” shall mean a written agreement executed by an authorized officer of the
Company and the Holder which shall contain such terms and conditions with respect to an
Award as the Administrator shall determine, consistent with the Plan. 

Section 1.5
      Award Limit. 

        “Award
Limit” shall mean 1,500,000 shares of Common Stock, as adjusted pursuant to Section
10.3. 

Section 1.6
      Board. 

        “Board” shall
mean the Board of Directors of the Company. 

Section 1.7       Code. 

        “Code” shall mean the Internal Revenue Code of 1986, as amended.

Section 1.8
      Committee. 

        “Committee” shall
mean the Compensation Committee of the Board, or another committee of the Board,
appointed as provided in Section 10.1. 

Section 1.9
      Common Stock 

        “Common
Stock” shall mean the common stock of the Company, par value $.01 per share, and any
equity security of the Company issued or authorized to be issued in the future, but
excluding any preferred stock and any warrants, options or other rights to purchase
Common Stock.  Debt securities of the Company convertible into Common Stock shall be
deemed equity securities of the Company. 

Section 1.10
     Company. 

        “Company” shall
mean Kimco Realty Corporation, a Maryland corporation. 

Section 1.11
     Consultant. 

        “Consultant” shall
mean any consultant or adviser if: 

 
	 	
2	 

        (a)
     The consultant or adviser renders bona fide services to the Company; 

        (b)
     The services rendered by the consultant or adviser are not in connection with the
offer or sale of securities in a capital-raising transaction and do not directly or
indirectly promote or maintain a market for the Company’s securities; and 

        (c)
     The consultant or adviser is a natural person who has contracted directly with the
Company to render such services. 

Section 1.12
     Corporate Transaction. 

        “Corporate
Transaction” shall mean the consummation of any of the following
stockholder-approved transactions to which the Company is a party: 

        (a)
     a merger or consolidation in which the Company is not the surviving entity, except
for a transaction the principal purpose of which is to change the State in which the
Company is incorporated, form a holding company or effect a similar reorganization as to
form whereupon this Plan and all Options are assumed by the successor entity; 

        (b)
     the sale, transfer, exchange or other disposition of all or substantially all of the
assets of the Company, in complete liquidation or dissolution of the Company in a
transaction not covered by the exceptions to clause (a), above; or 

        (c)
     any reverse merger in which the Company is the surviving entity but in which
securities possessing more than fifty percent (50%) of the total combined Voting power of
the Company’s outstanding securities are transferred or issued to a person or
persons different from those who held such securities immediately prior to such merger. 

Section 1.13
      Deferred Stock. 

        “Deferred
Stock” shall mean Common Stock awarded under Article VIII of the Plan. 

Section 1.14
     Director. 

        “Director” shall
mean a member of the Board. 

Section 1.15
     Employee. 

        “Employee” shall
mean any officer or other employee (as defined in accordance with Section 3401(c) of the
Code) of the Company, of Kimco Realty Services, Inc., or of any corporation which is a
Subsidiary. 

Section 1.16
     Equity Restructuring. 

        “Equity
Restructuring” shall mean a non-reciprocal transaction between the Company and its
stockholders, such as a stock dividend, stock split, spin-off, rights offering or
recapitalization through a large, nonrecurring cash dividend, that affects the shares of
Common Stock (or other securities of the Company) or the share price of the Common Stock
(or other 

 
	 	
3	 

securities) and causes a change in
the per share value of the Common Stock underlying outstanding Awards. 

Section 1.17
     Exchange Act. 

        “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended. 

Section 1.18      Fair
Market Value. 

        “Fair
Market Value” of a share of Common Stock as of a given date shall be (i) the closing
price of a share of Common Stock on the principal exchange on which shares of Common
Stock are then trading, if any (or as reported on any composite index which includes such
principal exchange), on the trading day previous to such date, or if shares were not
traded on the trading day previous to such date, then on the next preceding date on which
a trade occurred, or (ii) if Common Stock is not traded on an exchange but is quoted on
Nasdaq or a successor quotation system, the mean between the closing representative bid
and asked prices for the Common Stock on the trading day previous to such date as
reported by Nasdaq or such successor quotation system; or (iii) if Common Stock is not
publicly traded on an exchange and not quoted on Nasdaq or a successor quotation system,
the Fair Market Value of a share of Common Stock as established by the Committee (or the
Board, in the case of Options granted to Independent Directors) acting in good faith. 

Section 1.19      Full
Value Award. 

        “Full
Value Award” means any Award other than an Option or other Award for which the
Holder pays the intrinsic value (whether directly or by forgoing a right to receive a
payment from the Company). 

Section 1.20
     Holder. 

        “Holder” shall
mean a person who has been granted or awarded an Award. 

Section 1.21
     Incentive Stock Option. 

        “Incentive
Stock Option” shall mean an option which conforms to the applicable provisions of
Section 422 of the Code and which is designated as an Incentive Stock Option by the
Committee. 

Section 1.22
     Independent Director. 

        “Independent
Director” shall mean a member of the Board who is not an Employee of the Company. 

Section 1.23
     Non-Qualified Stock Option. 

        “Non-Qualified
Stock Option” shall mean an Option which is not designated as an Incentive Stock
Option by the Committee. 

 
	 	
4	 

Section 1.24
     Option. 

        “Option” shall
mean a stock option granted under Article III of this Plan.  An Option granted under this
Plan shall, as determined by the Committee, be either a Non-Qualified Stock Option or an
Incentive Stock Option; provided, however, that Options granted to Independent Directors
and consultants shall be Non-Qualified Stock Options. 

Section 1.25
     Optionee. 

        “Optionee” shall
mean an Employee, Consultant or Independent Director granted an Option under this Plan. 

Section 1.26
     Performance Criteria 

        “Performance
Criteria” shall mean the following business criteria with respect to the Company,
any Subsidiary or any division or operating unit: (a) net income, (b) pre-tax income, (c)
operating income, (d) cash flow, (e) earnings per share, (f) return on equity, (g) return
on invested capital or assets, (h) cost reductions or savings, (i) funds from operations,
(j) appreciation in the fair market value of Common Stock, (k) operating profit; (l)
working capital; and (m) earnings before any one or more of the following items:
interest, taxes, depreciation or amortization; provided, that each of the business
criteria described in subsections (a) through (m) shall be determined in accordance with
generally accepted accounting principles (“GAAP”).  For each fiscal year of the
Company, the Committee may provide for objectively determinable adjustments, as
determined in accordance with GAAP, to any of the business criteria described in
subsections (a) through (m) for one or more of the items of gain, loss, profit or
expense: (i) determined to be extraordinary or unusual in nature or infrequent in
occurrence; (ii) related to the disposal of a segment of a business; (iii) related to a
change in accounting principles under GAAP; (iv) related to discontinued operations that
do not qualify as a segment of business under GAAP; (v) attributable to the business
operations of any entity acquired by the Company during the fiscal year and (vi)
reflecting adjustments to funds from operations with respect to straight-line rental
income as reported in the Company’s Exchange Act reports. 

Section 1.27
      Plan. 

        “Plan” shall mean the Second Amended and Restated 1998 Equity Participation Plan of
Kimco Realty Corporation.

Section 1.28
      QDRO. 

        “QDRO” shall
mean a qualified domestic relations order as defined by the Code or Title I of the
Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder. 

Section 1.29
     Restricted Stock. 

        “Restricted
Stock” shall mean Common Stock awarded under Article VII of the Plan. 

 
	 	
5	 

Section 1.30      Rule
16b-3. 

        “Rule
16b-3“ shall mean that certain Rule 16b-3 under the Exchange Act, as such Rule may
be amended from time to time. 

Section 1.31
     Section 162(m) Participant 

        “Section
162(m) Participant” shall mean any key Employee designated by the Administrator as a
key Employee whose compensation for the fiscal year in which the key Employee is so
designated or a future fiscal year may be subject to the limit on deductible compensation
imposed by Section 162(m) of the Code. 

Section 1.32
     Securities Act 

        “Securities
Act” shall mean the Securities Act of 1933, as amended. 

Section 1.33
     Subsidiary. 

        “Subsidiary” shall
mean any corporation in an unbroken chain of corporations beginning with the Company if
each of the corporations other than the last corporation in the unbroken chain then owns
stock possessing 50 percent or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain. 

Section 1.34
      Substitute Award 

        “Substitute
Award” shall mean an Option granted under this Plan upon the assumption of, or in
substitution for, outstanding equity awards previously granted by a company or other
entity in connection with a corporate transaction, such as a merger, combination,
consolidation or acquisition of property or stock; provided, however, that in no event
shall the term “Substitute Award” be construed to refer to an award made in
connection with the cancellation and repricing of an Option. 

Section 1.35
     Termination of Consultancy. 

        “Termination
of Consultancy” shall mean the time when the engagement of Holder as a Consultant to
the Company or a Subsidiary is terminated for any reason, with or without cause,
including, but not by way of limitation, by resignation, discharge, death or retirement;
but excluding terminations where there is a simultaneous commencement of employment with
the Company or any Subsidiary.  The Administrator, in its absolute discretion, shall
determine the effect of all matters and questions relating to Termination of Consultancy,
including, but not by way of limitation, the question of whether a Termination of
Consultancy resulted from a discharge for good cause, and all questions of whether
particular leaves of absence constitute Terminations of Consultancy.  Notwithstanding any
other provision of this Plan, the Company or any Subsidiary has an absolute and
unrestricted right to terminate a Consultant’s service at any time for any reason
whatsoever, with or without cause, except to the extent expressly provided otherwise in
writing. 

 
	 	
6	 

Section 1.36
     Termination of Directorship. 

        “Termination
of Directorship” shall mean the time when a Holder who is an Independent Director
ceases to be a Director for any reason, including, but not by way of limitation, a
termination by resignation, failure to be elected, death or retirement.  The Board, in
its sole and absolute discretion, shall determine the effect of all matters and questions
relating to Termination of Directorship with respect to Independent Directors. 

Section 1.37
     Termination of Employment. 

        “Termination
of Employment” shall mean the time when the employee-employer relationship between a
Holder and the Company or any Subsidiary is terminated for any reason, with or without
cause, including, but not by way of limitation, a termination by resignation, discharge,
death, disability or retirement; but excluding (i) terminations where there is a
simultaneous reemployment or continuing employment of a Holder by the Company or any
Subsidiary, (ii) at the discretion of the Committee, terminations which result in a
temporary severance of the employee-employer relationship, and (iii) at the discretion of
the Administrator, terminations which are followed by the simultaneous establishment of a
consulting relationship by the Company or a Subsidiary with the former employee.  The
Administrator, in its absolute discretion, shall determine the effect of all matters and
questions relating to Termination of Employment, including, but not by way of limitation,
the question of whether a Termination of Employment resulted from a discharge for good
cause, and all questions of whether particular leaves of absence constitute Terminations
of Employment; provided, however, that, unless otherwise determined by the Administrator
in its discretion, a leave of absence, change in status from an employee to an
independent contractor or other change in the employee-employer relationship shall
constitute a Termination of Employment if, and to the extent that, such leave of absence,
change in status or other change interrupts employment for the purposes of Section
422(a)(2) of the Code and the then applicable regulations and revenue rulings under said
Section.  Notwithstanding any other provision of this Plan, the Company or any Subsidiary
has an absolute and unrestricted right to terminate an Employee’s employment at any
time for any reason whatsoever, with or without cause, except to the extent expressly
provided otherwise in writing. 

ARTICLE II.

                                     SHARES SUBJECT TO PLAN 

Section 2.1
      Shares Subject to Plan. 

        (a)
     The shares of stock subject to Awards shall be Common Stock, initially shares of the
Company’s Common Stock, par value $.01 per share.  Subject to adjustment as provided
in Section 10.3, the aggregate number of such shares which may be issued upon exercise of
such Awards under the Plan shall not exceed thirty three million (33,000,000), provided,
however, that the aggregate number of shares which may be awarded as Restricted Stock
under Article VII of the Plan shall not exceed seven hundred and sixty six thousand four
hundred and eighty two (766,482).  In the event that Substitute Awards are granted under
the Plan, the aggregate number of shares of Common Stock available under the Plan for
Substitute Awards shall be increased by the number of shares of Common Stock which may be
granted or issued with respect to such 

 
	 	
7	 

Substitute Awards.  The shares of
Common Stock issuable upon exercise of such Options or rights or upon any such Awards may
be either previously authorized but unissued shares or treasury shares. 

        (b)
     The maximum number of shares which may be subject to Awards granted under the Plan
to any individual in any calendar year shall not exceed the Award Limit.  To the extent
required by Section 162(m) of the Code, shares subject to Options which are canceled
continue to be counted against the Award Limit and if, after grant of an Option, the
price of shares subject to such Option is reduced, the transaction is treated as a
cancellation of the Option and a grant of a new Option and both the Option deemed to be
canceled and the Option deemed to be granted are counted against the Award Limit. 

Section 2.2
      Add-back of Options and Other Rights 

        If
any Option, or other right to acquire shares of Common Stock under any other Award under
the Plan, expires or is canceled without having been fully exercised, or is exercised in
whole or in part for cash as permitted by this Plan, the number of shares subject to such
Option or other right but as to which such Option or other right was not exercised prior
to its expiration, cancellation or exercise may again be optioned, granted or awarded
hereunder, subject to the limitations of Section 2.1.  Furthermore, any shares subject
Awards which are adjusted pursuant to Section 10.3 and become exercisable with respect to
shares of stock of another corporation shall be considered cancelled and may again be
optioned, granted or awarded hereunder, subject to the limitations of Section 2.1.
 Shares of Common Stock which are delivered by the Holder or withheld by the Company upon
the exercise of any Award under the Plan, in payment of the exercise price thereof or tax
withholding thereon, may again be optioned, granted or awarded hereunder, subject to the
limitations of Section 2.1. Notwithstanding the provisions of this Section 2.2, no shares
of Common Stock may again be optioned, granted or awarded if such action would cause an
Incentive Stock Option to fail to qualify as an incentive stock option under Section 422
of the Code.  If any shares of Restricted Stock are surrendered by the Holder or
repurchased by the Company pursuant to Section 7.4 or 7.5 hereof, such shares may again
be optioned, granted or awarded hereunder, subject to the limitations of Section 2.1. 

ARTICLE III.

                                       GRANTING OF AWARDS 

Section 3.1
      Award Agreement. 

        Each
Award shall be evidenced by an Award Agreement.  Award Agreements evidencing Awards
intended to qualify as performance-based compensation as described in Section
162(m)(4)(C) of the Code shall contain such terms and conditions as may be necessary to
meet the applicable provisions of Section 162(m) of the Code. 

Section 3.2
      Provisions Applicable to Section 162(m) Participants. 

        (a)
     The Committee, in its discretion, may determine whether an Award is to qualify as
performance-based compensation as described in Section 162(m)(4)(C) of the Code. 

 
	 	
8	 

        (b)
     Notwithstanding anything in the Plan to the contrary, the Committee may grant any
Award to a Section 162(m) Participant, including Restricted Stock the restrictions with
respect to which lapse upon the attainment of performance goals which are related to one
or more of the Performance Criteria and any Deferred Stock award described in Article
VIII that vests or becomes exercisable or payable upon the attainment of performance
goals which are related to one or more of the Performance Criteria. 

        (c)
     To the extent necessary to comply with the performance-based compensation
requirements of Section 162(m)(4)(C) of the Code, with respect to any Award granted under
Articles VII and VIII which may be granted to one or more Section 162(m) Participants, no
later than ninety (90) days following the commencement of any fiscal year in question or
any other designated fiscal period or period of service (or such other time as may be
required or permitted by Section 162(m) of the Code), the Committee shall, in writing,
(i) designate one or more Section 162(m) Participants, (ii) select the Performance
Criteria applicable to the fiscal year or other designated fiscal period or period of
service, (iii) establish the various performance targets, in terms of an objective
formula or standard, and amounts of such Awards, as applicable, which may be earned for
such fiscal year or other designated fiscal period or period of service, and (iv) specify
the relationship between Performance Criteria and the performance targets and the amounts
of such Awards, as applicable, to be earned by each Section 162(m) Participant for such
fiscal year or other designated fiscal period or period of service.  Following the
completion of each fiscal year or other designated fiscal period or period of service,
the Committee shall certify in writing whether the applicable performance targets have
been achieved for such fiscal year or other designated fiscal period or period of
service.  Except as otherwise provided by any written agreement between the Company and
any applicable Holder, in determining the amount earned by a Section 162(m) Participant,
the Committee shall have the right to reduce (but not to increase) the amount payable at
a given level of performance to take into account additional factors that the Committee
may deem relevant to the assessment of individual or corporate performance for the fiscal
year or other designated fiscal period or period of service. 

        (d)
     Furthermore, notwithstanding any other provision of the Plan or any Award which is
granted to a Section 162(m) Participant and is intended to qualify as performance-based
compensation as described in Section 162(m)(4)(C) of the Code shall be subject to any
additional limitations set forth in Section 162(m) of the Code (including any amendment
to Section 162(m) of the Code) or any regulations or rulings issued thereunder that are
requirements for qualification as performance-based compensation as described in Section
162(m)(4)(C) of the Code, and the Plan shall be deemed amended to the extent necessary to
conform to such requirements. 

Section 3.3
      Limitations Applicable to Section 16 Persons. 

        Notwithstanding
any other provision of the Plan, the Plan, and any Award granted or awarded to any
individual who is then subject to Section 16 of the Exchange Act, shall be subject to any
additional limitations set forth in any applicable exemptive rule under Section 16 of the
Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are
requirements for the application of such exemptive rule.  To the extent permitted by
applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended
to the extent necessary to conform to such applicable exemptive rule. 

 
	 	
9	 

Section 3.4
      At-Will Employment. 

        Nothing
in the Plan or in any Award Agreement hereunder shall confer upon any Holder any right to
continue in the employ of, or as a Consultant for, the Company or any Subsidiary, or as a
director of the Company, or shall interfere with or restrict in any way the rights of the
Company and any Subsidiary, which are hereby expressly reserved, to discharge any Holder
at any time for any reason whatsoever, with or without cause, except to the extent
expressly provided otherwise in a written employment agreement between the Holder and the
Company and any Subsidiary. 

Section 3.5       Full
Value Award Vesting Limitations. 

        Notwithstanding
any other provision of the Plan to the contrary, any Full Value Award shall become vested
over a period of not less than three (3) years (or, in the case of vesting based upon the
attainment of performance goals which are related to one or more of the Performance
Criteria or other performance-based objectives, over a period of not less than one (1)
year) following the date the Award is made. 

ARTICLE IV.

                                       GRANTING OF OPTIONS 

Section 4.1
      Eligibility. 

        Any
Employee or Consultant selected by the Administrator pursuant to Section 4.4(a)(i)  shall
be eligible to be granted an Option.  Each Independent Director of the Company shall be
eligible to be granted Options at the times and in the manner set forth in Section 4.4(d). 

Section 4.2
      Disqualification for Stock Ownership. 

        No
person may be granted an Incentive Stock Option under this Plan if such person, at the
time the Incentive Stock Option is granted, owns stock possessing more than ten percent
(10%) of the total combined voting power of all classes of stock of the Company or any
then existing Subsidiary or parent corporation (within the meaning of Section 422 of the
Code) unless such Incentive Stock Option conforms to the applicable provisions of Section
422 of the Code. 

Section 4.3
      Qualification of Incentive Stock Options. 

        No
Incentive Stock Option shall be granted to any person who is not an Employee. 

Section 4.4
      Granting of Options 

        (a)
     The Committee shall from time to time, in its absolute discretion, and subject to
applicable limitations of this Plan: 

	  	        (i)
     Determine which Employees are key Employees and select from among the key Employees
or          Consultants (including Employees or Consultants who have previously received
Awards          under the Plan) such of them as in its opinion should be granted Options; 

 
	 	
10	 

	  	        (ii)
    Subject to the Award Limit, determine the number of shares to be subject to such
         Options granted to the selected key Employees or Consultants; 

	  	        (iii)
   Subject to Section 3.3, determine whether such Options are to be Incentive Stock
         Options or Non-Qualified Stock Options and whether such Options are to qualify
as          performance-based compensation as described in Section 162(m)(4)C) of the
Code; and 

	  	        (iv)
    Determine the terms and conditions of such Options, consistent with this Plan;
         provided, however, that the terms and conditions of Options intended to qualify
as          performance-based compensation as described in Section 162(m)(4)(C) of the
Code shall          include, but not be limited to, such terms and conditions as may be
necessary to meet          the applicable provisions of Section 162(m) of the Code. 

        (b)
     Upon the selection of a key Employee or Consultant to be granted an Option, the
Committee shall instruct the Secretary of the Company to issue the Option and may impose
such conditions on the grant of the Option as it deems appropriate.  Without limiting the
generality of the preceding sentence, the Committee may, in its discretion and on such
terms as it deems appropriate, require as a condition on the grant of an Option to an
Employee or Consultant that the Employee or Consultant surrender for cancellation some or
all of the unexercised Options or other rights which have been previously granted to him
under this Plan or otherwise.  An Option, the grant of which is conditioned upon such
surrender, may have an option price lower (or higher) than the exercise price of such
surrendered Option or other award, may cover the same (or a lesser or greater) number of
shares as such surrendered Option or other award, may contain such other terms as the
Committee deems appropriate, and shall be exercisable in accordance with its terms,
without regard to the number of shares, price, exercise period or any other term or
condition of such surrendered Option or other award. 

        (c)
     Any Incentive Stock Option granted under this Plan may be modified by the Committee
to disqualify such option from treatment as an ``incentive stock option” under
Section 422 of the Code. 

        (d)
     Any person who, in his capacity as an Independent Director, was scheduled to receive
a grant of Options under Section 4.4 of the Amended and Restated Stock Option Plan For
Key Employees and Outside Directors of Kimco Realty Corporation (the “1995 Plan”)
will receive such grants under this Plan.  Any person who, upon adoption of this Plan, is
not an Independent Director of the Company, but who later becomes an Independent Director
shall be granted at the time of his appointment as an Independent Director, a
Non-Qualified Option to purchase 3,000 shares of Common Stock.  Each Independent Director
who has received a grant pursuant to this Section 4.4(d) or Section 3.4 of the 1995 Plan
shall be granted on the first and second anniversary of the date of his grant under this
Section 4.4(d) or Section 3.4 of the 1995 Plan (so long as he is an Independent Director
on such date) a Non-Qualified Option to purchase 3,000 shares of Common Stock.  All the
foregoing Option grants authorized by this Section 4.4(d) are subject to stockholder
approval of the Plan. 

 
	 	
11	 

ARTICLE V.

                                        TERMS OF OPTIONS 

Section 5.1
      Option Price. 

        The
price per share of the shares subject to each Option shall be set by the Committee;
provided, however, that such price shall be no less than the par value of a share of
Common Stock, unless otherwise permitted by applicable state law, and (i) in the case of
Incentive Stock Options and Options intended to qualify as performance-based compensation
as described in Section 162(m)(4)(C) of the Code, such price shall not be less than 100%
of the Fair Market Value of a share of Common Stock on the date the Option is granted;
(ii) in the case of Incentive Stock Options granted to an individual then owning (within
the meaning of Section 424(d) of the Code) more than 10% of the total combined voting
power of all classes of stock of the Company or any Subsidiary or parent Corporation
thereof (within the meaning of Section 422 of the Code) such price shall not be less than
110% of the Fair Market Value of a share of Common Stock on the date the Option is
granted; and (iii) in the case of Options granted to Independent Directors, such price
shall equal 100% of the Fair Market Value of a share of Common Stock on the date the
Option is granted. 

Section 5.2
      Expiration of Options. 

        (a)
     The term of an Option granted hereunder shall be set by the Committee in its
discretion; provided, however, that, no Option may be exercised to any extent by anyone
after the first to occur of the following events: 

	  	        (i)
     In the case of an Incentive Stock Option, (A) the expiration of ten years from the
         date the Option was granted, or (B) in the case of any Optionee owning (within
the          meaning of Section 424(d) of the Code), at the time the Incentive Stock
Option was          granted, more than 10% of the total combined voting power of all
classes of stock of          the Company, any Subsidiary or any parent corporation
(within the meaning of Section          422 of the Code), the expiration of five years
from the date the Incentive Stock          Option was granted; or 

	  	        (ii)
    In the case of a Non-qualified Option, the expiration of ten years and one day from
         the date the Non-qualified Option was granted; or 

	  	        (iii)
   Except in the case of any Optionee who is disabled (within the meaning of Section
         22(e)(3) of the Code), the expiration of three months from the date of the
Optionee’s          Termination of Employment, Termination of Consultancy or
Termination of Directorship,          as the case may be, for any reason other than such
Optionee’s death [unless the          Optionee dies within said three-month period];
or 

	  	        (iv)
    In the case of any Optionee who is disabled (within the meaning of Section 22(e)(3)
of          the Code), the expiration of one year from the date of the Optionee’s
Termination of          Employment, Termination of Consultancy or Termination of
Directorship, as the case may          be, for any reason other than such Optionee’s
death [unless the Optionee dies within          said one-year period]; or 

 
	 	
12	 

	  	        (v)
     The expiration of one year from the date of the Optionee’s death. 

        (b)
     Subject to the provisions of Section 5.2(a), the Committee shall provide, in the
terms of each individual Option, when such Option expires and becomes unexercisable; and
(without limiting the generality of the foregoing) the Committee may provide in the terms
of individual Award Agreements that said Option expires immediately upon a Termination of
Employment, Termination of Consultancy or Termination of Directorship, as the case may
be; provided, however, that provision may be made that such Option shall become
exercisable in the event of a Termination of Employment because of the Optionee’s
retirement, death, disability or as may otherwise be determined by the Committee. 

Section 5.3
      Consideration. 

        In
consideration of the granting of an Option, the Optionee shall agree, in the written
Award Agreement, to remain in the employ of (or to consult for or to serve as an
Independent Director of, as applicable) the Company or any Subsidiary for a period of at
least one year (or such shorter period as may be fixed in the Award Agreement or by
action of the Committee following grant of the Option) after the Option is granted (or,
in the case of an Independent Director, until the next annual meeting of stockholders of
the Company).  Nothing in this Plan or in any Award Agreement hereunder shall confer upon
any Optionee, any right to continue in the employ of, or as a consultant for, the Company
or any Subsidiary, or as a director of the Company, or shall interfere with or restrict
in any way the rights of the Company and any Subsidiary, which are hereby expressly
reserved, to discharge any Optionee at any time for any reason whatsoever, with or
without good cause. 

Section 5.4
      Substitute Awards. 

        Notwithstanding
the foregoing provisions of this Article V to the contrary, in the case of an Option that
is a Substitute Award, the price per share of the shares subject to such Option may be
less than the Fair Market Value per share on the date of grant, provided, that the excess
of: 

        (a)
     The aggregate Fair Market Value (as of the date such Substitute Award is granted) of
the shares subject to the Substitute Award; over 

        (b)
     The aggregate exercise price thereof; 

        does
not exceed the excess of: 

        (c)
     The aggregate fair market value (as of the time immediately preceding the
transaction giving rise to the Substitute Award, such fair market value to be determined
by the Committee) of the shares of the predecessor entity that were subject to the grant
assumed or substituted for by the Company; over 

        (d)
     The aggregate exercise price of such shares. 

 
	 	
13	 

ARTICLE VI.

                                       EXERCISE OF OPTION 

Section 6.1
      Partial Exercise. 

        An
exercisable Option may be exercised in whole or in part.  However, an Option shall not be
exercisable with respect to fractional shares and the Committee (or the Board, in the
case of Options granted to Independent Directors) may require that, by the terms of the
Option, a partial exercise be with respect to a minimum number of shares. 

Section 6.2
      Manner of Exercise. 

        All
or a portion of an exercisable Option shall be deemed exercised upon delivery of all of
the following to the Secretary of the Company or his or her office: 

        (a)
     A written notice complying with the applicable rules established by the Committee
(or the Board, in the case of Options granted to Independent Directors) stating that the
Option, or a portion thereof, is exercised.  The notice shall be signed by the Optionee
or other person then entitled to exercise the Option or such portion; 

        (b)
     Such representations and documents as the Committee (or the Board, in the case of
Options granted to Independent Directors), in its absolute discretion, deems necessary or
advisable to effect compliance with all applicable provisions of the Securities Act of
1933, as amended, and any other federal or state securities laws or regulations.  The
Committee or Board may, in its absolute discretion, also take whatever additional actions
it deems appropriate to effect such compliance including, without limitation, placing
legends on share certificates and issuing stop-transfer notices to agents and registrars; 

        (c)
     In the event that the Option shall be exercised pursuant to Section 8.1 by any
person or persons other than the Optionee, appropriate proof of the right of such person
or persons to exercise the Option; and 

        (d)
     Full cash payment to the Secretary of the Company for the shares with respect to
which the Option, or portion thereof, is exercised.  However, the Committee (or the
Board, in the case of Options granted to Independent Directors), may in its discretion
(i) allow a delay in payment up to thirty (30) days from the date the Option, or portion
thereof, is exercised; (ii) allow payment, in whole or in part, through the delivery of
shares of Common Stock which have been owned by the Holder for at least six months, duly
endorsed for transfer to the Company with a Fair Market Value on the date of delivery
equal to the aggregate exercise price of the Option or exercised portion thereof; (iii)
allow payment, in whole or in part, through the surrender of shares of Common Stock then
issuable upon exercise of the Option having a Fair Market Value on the date of Option
exercise equal to the aggregate exercise price of the Option or exercised portion
thereof; (iv) allow payment, in whole or in part, through the delivery of property of any
kind which constitutes good and valuable consideration; (v) allow payment, in whole or in
part, through the delivery of a full recourse promissory note bearing interest (at no
less than such rate as shall then preclude the imputation of interest under the Code) and
payable upon such terms as may be prescribed by the Committee or the Board; (vi) allow
payment, in whole or in part, through the delivery of a notice that the Holder has placed
a market sell order 

 
	 	
14	 

with a broker with respect to shares
of Common Stock then issuable upon exercise of the Option, and that the broker has been
directed to pay a sufficient portion of the net proceeds of the sale to the Company in
satisfaction of the Option exercise price, provided that payment of such proceeds is then
made to the Company upon settlement of such sale; or (vii) allow payment through any
combination of the consideration provided in the foregoing subparagraphs (ii), (iii),
(iv), (v) and (vi).  In the case of a promissory note, the Administrator may also
prescribe the form of such note and the security to be given for such note.  The Option
may not be exercised, however, by delivery of a promissory note or by a loan from the
Company when or where such loan or other extension of credit is prohibited by law, and
payment in the manner prescribed by the preceding sentences shall not be permitted to the
extent that the Administrator determines that payment in such manner may result in an
extension or maintenance of credit, an arrangement for the extension of credit, or a
renewal of an extension of credit in the form of a personal loan to or for any Director
or executive officer of the Company that is prohibited by Section 13(k) of the Exchange
Act or other applicable law. 

Section 6.3
      Conditions to Issuance of Stock Certificates. 

        The
Company shall not be required to issue or deliver any certificate or certificates for
shares of stock purchased upon the exercise of any Option or portion thereof prior to
fulfillment of all of the following conditions: 

        (a)
     The admission of such shares to listing on all stock exchanges on which such class
of stock is then listed; 

        (b)
     The completion of any registration or other qualification of such shares under any
state or federal law, or under the rulings or regulations of the Securities and Exchange
Commission or any other governmental regulatory body which the Committee or Board shall,
in its absolute discretion, deem necessary or advisable; 

        (c)
     The obtaining of any approval or other clearance from any state or federal
governmental agency which the Committee (or Board, in the case of Options granted to
Independent Directors) shall, in its absolute discretion, determine to be necessary or
advisable; 

        (d)
     The lapse of such reasonable period of time following the exercise of the Option as
the Committee (or Board, in the case of Options granted to Independent Directors) may
establish from time to time for reasons of administrative convenience; and 

        (e)
     The receipt by the Company of full payment for such shares, including payment of any
applicable withholding tax. 

Section 6.4
      Rights as Stockholders. 

        The
Holders shall not be, nor have any of the rights or privileges of, stockholders of the
Company in respect of any shares purchasable upon the exercise of any part of an Option
unless and until certificates representing such shares have been issued by the Company to
such holders. 

 
	 	
15	 

Section 6.5
      Ownership and Transfer Restrictions. 

        The
Committee (or Board, in the case of Options granted to Independent Directors), in its
absolute discretion, may impose such restrictions on the ownership and transferability of
the shares purchasable upon the exercise of an Option as it deems appropriate.  Any such
restriction shall be set forth in the respective Award Agreement and may be referred to
on the certificates evidencing such shares.  The Committee may require the Employee to
give the Company prompt notice of any disposition of shares of Common Stock acquired by
exercise of an Incentive Stock Option within (i) two years from the date of granting such
Option to such Employee or (ii) one year after the transfer of such shares to such
Employee.  The Committee may direct that the certificates evidencing shares acquired by
exercise of an Option refer to such requirement to give prompt notice of disposition. 

Section 6.6
      Exercise by Employees of Kimco Realty Services, Inc. 

        Notwithstanding
anything to the contrary contained in this Plan, an Optionee who is an employee of Kimco
Realty Services, Inc.  shall exercise his Option in accordance with the following
procedures: 

        (a)
     (i) Such Employee shall pay the exercise price to the Secretary of Kimco Realty
Services, Inc. in cash; (ii) Kimco Realty Services, Inc.  shall then purchase for cash
from Kimco the number of shares underlying the exercised Options for the Fair Market
Value of such shares; and (iii) Kimco Realty Services, Inc. shall then deliver such
shares to the Employee. 

        (b)
     In the case of exercise of Options pursuant to Section 6.2(d)(iii), only the
provisions of paragraphs (a)(ii) and (a)(iii) above shall apply, and then only with
respect to the net number of shares issuable. 

Section 6.7
      Additional Limitations on Exercise of Options. 

         Holders may be required to comply with any timing or other restrictions with respect
to the settlement or exercise of an Option, including a window-period limitation, as may be
imposed in the discretion of the Administrator.

ARTICLE VII.

                                    AWARD OF RESTRICTED STOCK 

Section 7.1
      Eligibility. 

        Subject
to the Award Limit, Restricted Stock may be awarded to any Employee who the Committee
determines is a key Employee or any Consultant who the Committee determines should
receive such an Award. 

Section 7.2
      Award of Restricted Stock. 

        (a)
     The Committee may from time to time, in its absolute discretion: 

 
	 	
16	 

	  	        (i)
     Determine which Employees are key Employees and select from among the key Employees
or          Consultants (including Employees or Consultants who have previously received
other          Awards under the Plan) such of them as in its opinion should be awarded
Restricted          Stock; 

	  	        (ii)
    Determine the purchase price, if any, of such Restricted Stock Award, consistent with
         the Plan; and 

	  	        (iii)
   Subject to Section 3.5, determine the other terms and conditions applicable to such
         Restricted Stock Award, consistent with the Plan. 

        (b)
     The Committee shall establish the purchase price, if any, and form of payment for
Restricted Stock; provided, however, that such purchase price shall be no less than the
par value of the Common Stock to be purchased, unless otherwise permitted by applicable
state law. In all cases, legal consideration shall be required for each issuance of
Restricted Stock. 

        (c)
     Upon the selection of a key Employee or Consultant to be awarded Restricted Stock,
the Committee shall instruct the Secretary of the Company to issue such Restricted Stock
and may impose such conditions on the issuance of such Restricted Stock as it deems
appropriate. 

Section 7.3
      Rights as Stockholders. 

        Subject
to Section 7.4, upon delivery of the shares of Restricted Stock to the Holder or the
escrow holder pursuant to Section 7.6, the Holder shall have, unless otherwise provided
by the Committee, all the rights of a stockholder with respect to said shares, subject to
the restrictions in his or her Award Agreement, including the right to receive all
dividends and other distributions paid or made with respect to the shares; provided,
however, that in the discretion of the Committee, any extraordinary distributions with
respect to the Common Stock shall be subject to the restrictions set forth in Section 7.4. 

Section 7.4
      Restriction. 

        All
shares of Restricted Stock issued under the Plan (including any shares received by
holders thereof with respect to shares of Restricted Stock as a result of stock
dividends, stock splits or any other form of recapitalization) shall, in the terms of
each individual Award Agreement, be subject to such restrictions as the Committee shall
provide, which restrictions may include, without limitation, restrictions concerning
voting rights and transferability and restrictions based on duration of employment with
the Company, Company performance and individual performance; provided, however, that,
except with respect to shares of Restricted Stock granted to Section 162(m) Participants,
by action taken after the Restricted Stock is issued, the Committee may, on such terms
and conditions as it may determine to be appropriate, remove any or all of the
restrictions imposed by the terms of the Award Agreement in the event of a Corporate
Transaction or the applicable Holder’s retirement, death or disability.  Restricted
Stock may not be sold or encumbered until all restrictions are terminated or expire.
 Except as otherwise provided by any written agreement between the Company and any
applicable Holder, a Holder’s rights in unvested Restricted Stock shall lapse, and
such Restricted Stock shall be 

 
	 	
17	 

surrendered to the Company without
consideration, upon Termination of Employment or, if applicable, upon Termination of
Consultancy with the Company. 

Section 7.5
      Repurchase of Restricted Stock. 

        The
Committee shall provide in the terms of each individual Award Agreement that the Company
shall have the right to repurchase from the Holder the Restricted Stock then subject to
restrictions under the Award Agreement immediately upon a Termination of Employment or,
if applicable, upon a Termination of Consultancy between the Holder and the Company, at a
cash price per share equal to the lesser of (i) the Fair Market Value of a share of
Common Stock on the date of Termination of Employment or Termination of Consultancy, as
applicable, and (ii) the price per share paid by the Holder for such Restricted Stock. 

Section 7.6
      Escrow. 

        Except
as otherwise provided in any Award Agreement, the Secretary of the Company or such other
escrow holder as the Committee may appoint shall retain physical custody of each
certificate representing Restricted Stock until all of the restrictions imposed under the
Award Agreement with respect to the shares evidenced by such certificate expire or shall
have been removed. 

Section 7.7
      Legend. 

        In
order to enforce the restrictions imposed upon shares of Restricted Stock hereunder, the
Committee shall cause a legend or legends to be placed on certificates representing all
shares of Restricted Stock that are still subject to restrictions under Award Agreements,
which legend or legends shall make appropriate reference to the conditions imposed
thereby. 

Section 7.8
      Section 83(b) Election. 

        If
a Holder makes an election under Section 83(b) of the Code, or any successor section
thereto, to be taxed with respect to the Restricted Stock as of the date of transfer of
the Restricted Stock rather than as of the date or dates upon which the Holder would
otherwise be taxable under Section 83(a) of the Code, the Holder shall deliver a copy of
such election to the Company immediately after filing such election with the Internal
Revenue Service. 

ARTICLE VIII.

                                         DEFERRED STOCK 

Section 8.1
      Eligibility. 

        Subject
to the Award Limit, awards of Deferred Stock may be granted to any Employee whom the
Committee determines is a key Employee or any Consultant whom the Committee determines
should receive such an Award.  Additionally, Independent Directors may be granted awards
of Deferred Stock in lieu of directors’ fees. 

 
	 	
18	 

Section 8.2
      Deferred Stock. 

        Any
key Employee or Consultant or Independent Director selected by the Committee may be
granted an award of Deferred Stock in the manner determined from time to time by the
Committee.  The number of shares of Deferred Stock shall be determined by the Committee
and may be linked to the Performance Criteria or other specific performance criteria
determined to be appropriate by the Committee, in each case on a specified date or dates
or over any period or periods determined by the Committee consistent with Section 3.5.
 Common Stock underlying a Deferred Stock award will not be issued until the Deferred
Stock award has vested, pursuant to a vesting schedule or performance criteria set by the
Committee; provided, however, that, except with respect to shares of Deferred Stock
granted to Section 162(m) Participants, by action taken after the Deferred Stock is
issued, the Committee may, on such terms and conditions as it may determine to be
appropriate, remove any or all of the restrictions imposed by the terms of the Award
Agreement in the event of a Corporate Transaction or the applicable Holder’s
retirement, death or disability.  Unless otherwise provided by the Committee, a Holder of
Deferred Stock shall have no rights as a Company stockholder with respect to such
Deferred Stock until such time as the Award has vested and the Common Stock underlying
the Award has been issued. 

Section 8.3
      Deferred Stock Agreement. 

        Each
award of Deferred Stock shall be evidenced by an Award Agreement, which shall be executed
by the Holder and an authorized Officer of the Company and which shall contain such terms
and conditions as the Committee shall determine, consistent with this Plan. 

Section 8.4       Term. 

        The
term of an award of Deferred Stock shall be set by the Board in its discretion. 

Section 8.5
      Exercise or Purchase Price. 

        The
Committee may establish the exercise or purchase price of shares of Deferred Stock;
provided, however, that such price shall not be less than the par value of a share of
Common Stock, unless otherwise permitted by applicable state law. 

Section 8.6
      Exercise Upon Termination of Employment, Termination of Consultancy or
                  Termination of Directorship. 

        An
award of Deferred Stock is exercisable or payable only while the Holder is an Employee,
Consultant or Independent Director, as applicable; provided, however, that the
Administrator in its sole and absolute discretion may provide that the award of Deferred
Stock may be exercised or paid subsequent to a Termination of Employment following a
“change of control or ownership” (within the meaning of Section
1.162-27(e)(2)(v) or any successor regulation thereto) of the Company. 

 
	 	
19	 

ARTICLE IX.

                                         ADMINISTRATION 

Section 9.1
      Committee. 

        Except
as may otherwise be determined by the Board in its sole discretion, the Committee (or
another committee or a subcommittee of the Board assuming the functions of the Committee
under the Plan) shall consist solely of two or more Independent Directors appointed by
and holding office at the pleasure of the Board, each of whom is both a “non-employee
director” as defined by Rule 16b-3 and an “outside director” for purposes
of Section 162(m) of the Code.  Appointment of Committee members shall be effective upon
acceptance of appointment. Committee members may resign at any time by delivering written
notice to the Board.  Vacancies in the Committee may be filled by the Board. 

Section 9.2
      Duties and Powers of Committee. 

        It
shall be the duty of the Committee to conduct the general administration of this Plan in
accordance with its provisions.  The Committee shall have the power to interpret this
Plan and the Award Agreements, and to adopt such rules for the administration,
interpretation, and application of this Plan as are consistent therewith and to
interpret, amend or revoke any such rules and to amend any Award Agreement, provided that
the rights or obligations of the Holder of the Award that is the subject of any such
Award Agreement are not affected adversely.  Notwithstanding the foregoing, the full
Board, acting by a majority of its members in office, shall conduct the general
administration of the Plan with respect to Awards granted to Independent Directors.  Any
such grant or award under this Plan need not be the same with respect to each Holder.
 Any such interpretations and rules with respect to Incentive Stock Options shall be
consistent with the provisions of Section 422 of the Code.  In its absolute discretion,
the Board may at any time and from time to time exercise any and all rights and duties of
the Committee under this Plan except with respect to matters which under Rule 16b-3 or
Section 162(m) of the Code, or any regulations or rules issued thereunder, are required
to be determined in the sole discretion of the Committee. 

Section 9.3
      Majority Rule; Unanimous Written Consent. 

        The
Committee shall act by a majority of its members in attendance at a meeting at which a
quorum is present or by a memorandum or other written instrument signed by all members of
the Committee. 

Section 9.4
      Compensation; Professional Assistance; Good Faith Actions. 

        Members
of the Committee shall receive such compensation for their services as members as may be
determined by the Board.  All expenses and liabilities which members of the Committee
incur in connection with the administration of this Plan shall be borne by the Company.
 The Committee may, with the approval of the Board, employ attorneys, consultants,
accountants, appraisers, brokers, or other persons.  The Committee, the Company and the
Company’s officers and Directors shall be entitled to rely upon the advice, opinions
or valuations of any such persons.  All actions taken and all interpretations and
determinations made by the Committee or the Board in good faith shall be final and
binding upon all Holders, the Company 

 
	 	
20	 

and all other interested persons.
 No members of the Committee or Board shall be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or Awards,
and all members of the Committee and the Board shall be fully protected by the Company in
respect of any such action, determination or interpretation. 

Section 9.5
      Delegation of Authority to Grant and Amend Awards. 

        The
Committee may, but need not, delegate from time to time some or all of its authority to
(a) grant Awards under the Plan and (b) amend Awards previously granted pursuant to the
Plan to a committee consisting of one or more members of the Committee or of one or more
officers of the Company; provided, however, that the Committee may not delegate its
authority to grant or to amend Awards to individuals (x) who are subject on the date of
the grant to the reporting rules under Section 16(a) of the Exchange Act, (y) who are
Section 162(m) Participants, or (z) who are officers of the Company who are delegated
authority by the Committee hereunder.  Any delegation hereunder shall be subject to the
restrictions and limits that the Committee specifies at the time of such delegation of
authority and may be rescinded at any time by the Committee.  At all times, any committee
appointed under this Section 9.5 shall serve in such capacity at the pleasure of the
Committee. 

ARTICLE X.

                                    MISCELLANEOUS PROVISIONS 

Section 10.1      Not
Transferable. 

        Awards
under this Plan may not be sold, pledged, assigned, or transferred in any manner other
than by will or the laws of descent and distribution, pursuant to beneficiary designation
procedures approved from time to time by the Committee (or the Board, in the case of
Options granted to Independent Directors) or pursuant to a QDRO, unless and until such
rights or awards have been exercised, or the shares underlying such rights or awards have
been issued, and all restrictions applicable to such shares have lapsed.  No Award or
interest or right therein shall be liable for the debts, contracts or engagements of the
Holder or his successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, pledge, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law by judgment, levy,
attachment, garnishment or any other legal or equitable proceedings (including
bankruptcy), and any attempted disposition thereof shall be null and void and of no
effect, except to the extent that such disposition is permitted by the preceding
sentence.  During the lifetime of the Holder, only he may exercise an Option or other
Award (or any portion thereof) granted to him under the Plan, unless it has been disposed
of pursuant to a QDRO.  After the death of the Holder, any exercisable portion of an
Option or other Award may, prior to the time when such portion becomes unexercisable
under the Plan or the applicable Award Agreement, be exercised by, as applicable, his
personal representative, any person empowered to do so under the deceased Holder’s
will or under the then applicable laws of descent and distribution or any beneficiary
designated by the Holder pursuant to procedures approved in accordance with this Section
10.1. 

 
	 	
21	 

Section 10.2
     Amendment, Suspension or Termination of this Plan. 

        Except
as otherwise provided in this Section 10.2, this Plan may be wholly or partially amended
or otherwise modified, suspended or terminated at any time or from time to time by the
Board or the Committee.  However, without approval of the Company’s stockholders
given within twelve months before or after the action by the Board or the Committee, no
action of the Board or the Committee may, except as provided in Section 8.3, increase the
limits imposed in Section 2.1 on the maximum number of shares which may be issued under
this Plan or modify the Award Limit, and no action of the Board or the Committee may be
taken that would otherwise require stockholder approval as a matter of applicable law,
regulation or rule.  No amendment, suspension or termination of this Plan shall, without
the consent of the Holder, alter or impair any rights or obligations under any Awards
theretofore granted or awarded, unless the Award itself otherwise expressly so provides.
 No Award may be granted or awarded during any period of suspension or after termination
of this Plan, and in no event may any Incentive Stock Option be granted under this Plan
after the first to occur of the following events: 

        (a)
     The expiration of ten years from the date the Plan is adopted by the Board; or 

        (b)
     The expiration of ten years from the date the Plan is approved by the Company’s
stockholders under Section 10.4. 

	
      Section 10.3

    	 Changes in Common Stock
      or Assets of the Company, Acquisition or Liquidation of the Company and
      Other Corporate Events.

        (a)
     Subject to Section 10.3(e), in the event that the Committee (or the Board, in the
case of Options granted to Independent Directors) determines that any dividend or other
distribution, reorganization, merger, consolidation, combination, repurchase,
liquidation, dissolution, or sale, transfer, exchange or other disposition of all or
substantially all of the assets of the Company (including, but not limited to, a
Corporate Transaction), or exchange of Common Stock or other securities of the Company,
issuance of warrants or other rights to purchase Common Stock or other securities of the
Company, or other similar Corporate Transaction or event (other than an Equity
Restructuring), in the Committee’s sole discretion (or in the case of Options
granted to Independent Directors, the Board’s sole discretion), affects the Common
Stock such that an adjustment is determined by the Committee to be appropriate in order
to prevent dilution or enlargement of the benefits or potential benefits intended to be
made available under the Plan or with respect to an Award, then the Committee shall, in
such manner as it may deem equitable, adjust any or all of: 

	  	        (i)
     the number and kind of shares of Common Stock (or other securities or property) with
         respect to which Awards may be granted, or which may be awarded (including, but
not          limited to, adjustments of the limitations in Section 2.1 on the maximum
number and          kind of shares which may be issued and adjustments of the Award
Limit), 

	  	        (ii)
    the number and kind of shares of Common Stock (or other securities or property)
         subject to outstanding Awards, and 

	  	        (iii)
   the grant or exercise price with respect to any Award. 

 
	 	
22	 

        (b)
     Subject to Section 10.3(b)(vii) and 10.3(e), in the event of any Corporate
Transaction or other transaction or event described in Section 10.3(a) or any unusual or
nonrecurring transactions or events (other than an Equity Restructuring) affecting the
Company, any affiliate of the Company, or the financial statements of the Company or any
affiliate, or of changes in applicable laws, regulations, or accounting principles, the
Administrator in its sole and absolute discretion, and on such terms and conditions as it
deems appropriate, either by the terms of the Award or by action taken prior to the
occurrence of such transaction or event and either automatically or upon the Holder’s
request, is hereby authorized to take any one or more of the following actions whenever
the Administrator determines that such action is appropriate in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under
the Plan or with respect to any Award under this Plan, to facilitate such transactions or
events or to give effect to such changes in laws, regulations or principles: 

	  	        (i)
     To provide for either (A) the purchase of any such Award for an amount of cash
and/or          other property equal to the amount that could have been attained upon the
exercise of          such Award, or realization of the Holder’s rights had such
Award been currently          exercisable or payable (and, for the avoidance of doubt, if
as of the date of the          occurrence of the transaction or event described in this
Section 10.3(b) the          Administrator determines in good faith that no amount would
have been obtained upon          the exercise of such Award or the realization of the
Holder’s rights, then such Award          may be terminated by the Company without
payment) or (B) fully vested or the          replacement of such Award with other rights
or property selected by the Administrator          in its sole discretion; 

	  	        (ii)
    To provide that the Award cannot vest, be exercised or become payable after such
         event; 

	  	        (iii)
   To provide that such Award shall be exercisable as to all shares covered thereby,
         notwithstanding anything to the contrary in the provisions of such Award; 

	  	        (iv)
    To provide that such Award be assumed by the successor or survivor corporation, or a
         parent or subsidiary thereof, or shall be substituted for by similar options,
rights          or awards covering the stock of the successor or survivor corporation, or
a parent or          subsidiary thereof, with appropriate adjustments as to the number
and kind of shares          and prices; 

	  	        (v)
     To make adjustments in the number and type of shares of Common Stock (or other
         securities or property) subject to outstanding Awards, and in the number and
kind of          outstanding Restricted Stock or Deferred Stock and/or in the terms and
conditions of          (including the grant or exercise price), and the criteria included
in, outstanding          Awards and Awards which may be granted in the future; 

	  	        (vi)
    To provide for a specified period of time prior to such event, the restrictions
         imposed under an Award Agreement upon some or all shares of Restricted Stock or
         Deferred Stock may be terminated, and in the case of Restricted Stock, some or
all of          the shares of such Restricted Stock may cease to be subject to repurchase
under          Section 7.5 or forfeiture under Section 7.4 after such event; and 

 
	 	
23	 

	  	        (vii)
   In the event of any Corporate Transaction, each outstanding Award shall, immediately
         prior to the effective date of the Corporate Transaction, automatically become
fully          exercisable for all of the shares of Common Stock at the time subject to
such rights          or fully vested, as applicable, and may be exercised or become
payable for any or all          of those shares as fully-vested shares of Common Stock.
 However, an outstanding Award          shall not so accelerate if and to the extent: (i)
such Award is, in connection with          the Corporate Transaction, either to be
assumed by the successor or survivor          corporation (or parent thereof) or to be
replaced with a comparable right with respect          to shares of the capital stock of
the successor or survivor corporation (or parent          thereof) or (ii) the
acceleration of exercisability of such Award is subject to other          limitations
imposed by the Administrator at the time of grant.  The determination of
         comparability of rights under clause (i) above shall be made by the
Administrator, and          its determination shall be final, binding and conclusive. 

        (c)
     In connection with the occurrence of any Equity Restructuring: 

	  	        (i)
     The number and type of securities subject to each outstanding Option and the
exercise          price thereof, if applicable, will be proportionately adjusted.  The
adjustments          provided under this Section 10.3(c)(i) shall be nondiscretionary and
shall be final          and binding on the affected Holder and the Company. 

	  	        (ii)
    The Administrator shall make such proportionate adjustments, if any, as the
         Administrator in its discretion may deem appropriate to reflect such Equity
         Restructuring with respect to the aggregate number and kind of shares of Common
Stock          (or other securities or property) that may be issued under the Plan
(including, but          not limited to, adjustments of the limitations in Section 2.1). 

        (d)
     Subject to Section 10.3(e) and 10.8, the Administrator may, in its discretion,
include such further provisions and limitations in any Award agreement or certificate, as
it may deem equitable and in the best interests of the Company. 

        (e)
     With respect to Awards which are granted to Section 162(m) Participants and are
intended to qualify as performance-based compensation under Section 162(m)(4)(C), no
adjustment or action described in this Section 9.3 or in any other provision of the Plan
shall be authorized to the extent that such adjustment or action would cause the Plan to
fail to so qualify under Section 162(m)(4)(C), as the case may be, or any successor
provisions thereto. No adjustment or action described in this Section 10.3 or in any
other provision of the Plan shall be authorized to the extent that such adjustment or
action would cause the Plan to violate Section 422(b)(1) of the Code.  Furthermore, no
such adjustment or action shall be authorized to the extent such adjustment or action
would result in short-swing profits liability under Section 16 or violate the exemptive
conditions of Rule 16b-3 unless the Committee determines that the Award is not to comply
with such exemptive conditions.  The number of shares of Common Stock subject to any
Award shall always be rounded to the next whole number. 

 
	 	
24	 

Section 10.4
     Approval of Plan by Stockholders. 

        The
Plan will be submitted for the approval of the Company’s stockholders within twelve
months after the date of the Board’s adoption of this amended plan.  Except as
otherwise prohibited by the New York Stock Exchange or other applicable exchange or
quotation system or as prohibited by an applicable statute or other law, Awards may be
awarded prior to such stockholder approval, provided that such Awards not be exercisable
prior to the time when the Plan is approved by the Company’s stockholders, and
provided further that if such approval has not been obtained at the end of said twelve
month period, all Awards previously awarded under the Plan shall thereupon be canceled
and become null and void. 

Section 10.5      Tax
Withholding. 

        The
Company shall be entitled to require payment in cash or deduction from other compensation
payable to each Holder of any sums required by federal, state or local tax law to be
withheld with respect to the issuance, vesting, exercise or payment of any Award.  The
Committee may in its discretion and in satisfaction of the foregoing requirement allow
such Holder to elect to have the Company withhold shares of Common Stock otherwise
issuable under such Option or other award (or allow the return of shares of Common Stock)
having a Fair Market Value equal to the sums required to be withheld. 

Section 10.6
     Loans. 

        The
Committee may, in its discretion, extend one or more loans to key Employees in connection
with the exercise or receipt of an Award granted or awarded under the Plan, or the
issuance of Restricted Stock or Deferred Stock awarded under the Plan.  The terms and
conditions of any such loan shall be set by the Committee.  Notwithstanding the
foregoing, no loan shall be made to an Employee under this Section to the extent such
loan shall result in an extension or maintenance of credit, an arrangement for the
extension of credit, or a renewal of an extension of credit in the form of a personal
loan to or for any Director or executive officer of the Company that is prohibited by
Section 13(k) of the Exchange Act or other applicable law.  In the event that the
Administrator determines in its discretion that any loan under this Section may be or
will become prohibited by Section 13(k) of the Exchange Act or other applicable law, the
Administrator may provide that such loan shall be immediately due and payable in full and
may take any other action in connection with such loan as the Administrator determines in
its discretion to be necessary or appropriate for the repayment, cancellation or
extinguishment of such loan. 

Section 10.7
     Forfeiture Provisions. 

        Pursuant
to its general authority to determine the terms and conditions applicable to Awards under
the Plan, the Administrator shall have the right to provide, in the terms of Awards made
under the Plan, or to require a Holder to agree by separate written instrument at the
time the Award is granted, that (a)(i) any proceeds, gains or other economic benefit
actually or constructively received by the Holder upon any receipt or exercise of the
Award, or upon the receipt or resale of any Common Stock underlying the Award, must be
paid to the Company, and (ii) the Award shall terminate and any unexercised portion of
the Award (whether or not vested) 

 
	 	
25	 

shall be forfeited, if (b)(i) a
Termination of Employment, Termination of Consultancy or Termination of Directorship
occurs prior to a specified date, or within a specified time period following receipt or
exercise of the Award, or (ii) the Holder at any time, or during a specified time period,
engages in any activity in competition with the Company, or which is inimical, contrary
or harmful to the interests of the Company, as further defined by the Administrator or
(iii) the Holder incurs a Termination of Employment, Termination of Consultancy or
Termination of Directorship for cause. 

Section 10.8
     Effect of Plan Upon Options and Compensation Plans. 

        The
adoption of this Plan shall not affect any other compensation or incentive plans in
effect for the Company or any Subsidiary.  Nothing in this Plan shall be construed to
limit the right of the Company (i) to establish any other forms of incentives or
compensation for Employees, Directors or consultants of the Company or any Subsidiary or
(ii) to grant or assume options or other rights otherwise than under this Plan in
connection with any proper corporate purpose including but not by way of limitation, the
grant or assumption of options in connection with the acquisition by purchase, lease,
merger, consolidation or otherwise, of the business, stock or assets of any corporation,
partnership, limited liability company, firm or association. 

Section 10.9
     Compliance with Laws. 

        The
Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of
shares of Common Stock and the payment of money under the Plan or under Awards granted or
awarded hereunder are subject to compliance with all applicable federal and state laws,
rules and regulations (including but not limited to state and federal securities law and
federal margin requirements) and to such approvals by any listing, regulatory or
governmental authority as may, in the opinion of counsel for the Company, be necessary or
advisable in connection therewith; provided, however, that the foregoing shall not
relieve the Company of its obligations under any Award.  Any securities delivered under
the Plan shall be subject to such restrictions, and the person acquiring such securities
shall, if requested by the Company, provide such assurances and representations to the
Company as the Company may deem necessary or desirable to assure compliance with all
applicable legal requirements.  To the extent permitted by applicable law, the Plan and
Awards granted or awarded hereunder shall be deemed amended to the extent necessary to
conform to such laws, rules and regulations. 

Section 10.10
    Federal Income Tax Consequences. 

        The
following is a general summary under current law of the material federal income tax
consequences to participants in the Plan.  This summary deals with the general tax
principles that apply and is provided only for general information.  Some kinds of taxes,
such as the alternative minimum tax and state and local income taxes are not discussed.
 Tax laws are complex and subject to change and may vary depending on individual
circumstances and from locality to locality.  The summary does not discuss all aspects of
income taxation that may be relevant to each participant in light of his or her personal
investment circumstances.  This summarized tax information is not tax advice. 

 
	 	
26	 

        For
federal income tax purposes, if a Holder is granted non-qualified stock options under the
Plan, the Holder will not have taxable income on the grant of the option, nor will the
Company be entitled to any deduction.  Generally, on exercise of non-qualified stock
options a Holder will recognize ordinary income, and the Company will be entitled to a
deduction, in an amount equal to the difference between the option exercise price and the
fair market value of the Common Stock on the date of exercise.  There is no taxable
income when the Holder is granted an incentive stock option or when that option is
exercised.  However, the amount by which the fair market value of the shares at the time
of exercise exceeds the option price will be an “item of tax preference” for
alternative minimum tax purposes.  Gain realized on the sale of stock issued to the
Holder pursuant to the exercise of an incentive stock option is taxable at capital gains
rates, and no tax deduction is available to the Company, unless the Holder disposes of
the shares within (1) two years after the date of grant of the option or (2) within one
year of the date the shares were transferred to the Holder.  If the shares of Common
Stock are sold or otherwise disposed of before the end of the one-year and two-year
periods specified above, the difference between the option exercise price and the fair
market value of the shares on the date of the option’s exercise will be taxed at
ordinary income rates, and the Company will be entitled to a deduction to the extent the
Holder must recognize ordinary income. 

        No
taxable income is realized on the receipt of the new restricted shares of Common Stock or
on the receipt of Deferred Stock, but upon the lapse of all of the restrictions on the
stock or upon the vesting and issuing of the stock due to the attainment of certain
performance or other criteria, the fair market value of the shares (less any purchase
price paid for such shares, if any) received must be treated as compensation taxable as
ordinary income to the Holder in the year of the lapse of the final restrictions.  The
Company will be entitled to a deduction for compensation paid in the same amount which
the Holder realized as ordinary income. 

Section 10.11
    Titles. 

        Titles
are provided herein for convenience only and are not to serve as a basis for
interpretation or construction of this Plan. 

Section 10.12
    Governing Law. 

        This
Plan and any agreements hereunder shall be administered, interpreted and enforced under
the internal laws of the State of New York without regard to conflicts of laws thereof. 

Section 10.13
    Section 409A. 

        To
the extent that the Administrator determines that any Award granted under the Plan is
subject to Section 409A of the Code, the Award Agreement evidencing such Award shall
incorporate the terms and conditions required by Section 409A of the Code.  To the extent
applicable, the Plan and Award Agreements shall be interpreted in accordance with Section
409A of the Code and Department of Treasury regulations and other interpretive guidance
issued thereunder, including without limitation any such regulations or other guidance
that may be issued after the effective date of the Plan.  Notwithstanding any provision
of the Plan to the contrary, in the event that the Administrator determines that any
Award may be subject to Section 409A of the Code and related Department of Treasury
guidance (including such 

 
	 	
27	 

Department of Treasury guidance as
may be issued after the effective date of the Plan), the Administrator may adopt such
amendments to the Plan and the applicable Award Agreement or adopt other policies and
procedures (including amendments, policies and procedures with retroactive effect), or
take any other actions, that the Administrator determines are necessary or appropriate to
(a) exempt the Award from Section 409A of the Code and/or preserve the intended tax
treatment of the benefits provided with respect to the Award, or (b) comply with the
requirements of Section 409A of the Code and related Department of Treasury guidance. 

* * * 
  

    

	 	
28	 

        I
hereby certify that the foregoing Plan was duly adopted by the Board of Directors of
Kimco Realty Corporation on February 26th, 2007. 

        Executed
  on this 4th day of March, 2007.

 

	 	s/ Michael
      V. Pappagallo
      

       Michael V. Pappagallo

      Executive Vice President & CFO 

 

 
	 	
29

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