Document:

Converted by EDGARwiz

12

Doc:98596-1

Exhibit 10.6J

INDEMNIFICATION AGREEMENT

THIS INDEMNIFICATION AGREEMENT is made and entered into this 14th day of

February, 2007 ("Agreement"), by and between INLAND WESTERN RETAIL REAL ESTATE TRUST, INC., a StateplaceMaryland corporation (the "Company"), and Gary Pechter ("Indemnitee").

WHEREAS, at the request of the Company, Indemnitee currently serves as an officer of the Company and may, therefore, be subjected to claims, suits or proceedings arising as a result of his service; and

WHEREAS, as an inducement to Indemnitee to continue to serve as such officer, the Company has agreed to indemnify and to advance expenses and costs incurred by Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and

WHEREAS, the parties by this Agreement desire to set forth their agreement regarding indemnification and advance of expenses;

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

SnplaceSection SnI.

Definitions. For purposes of this Agreement:

(a)

"Change in Control" means a change in control of the Company occurring after

the Effective Date of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the "Act"), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if after the Effective Date (i) any "person" (as such term is used in Sections 13(d) and 14(d) of the Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power of the Company's then outstanding securities without the prior approval of at least two-thirds of the members of the Board of Directors in office immediately prior to such person attaining such percentage interest; (ii) there occurs a proxy contest, or the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii) during any period of two consecutive years, other than as a result of an event described in clause (a)(ii) of this Section 1, individuals who at the beginning of such period constituted the Board of Directors (including for this purpose any new director whose election or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at least a majority of the Board of Directors.

(b)

"Corporate Status" means the status of a person who is or was a director, trustee, officer, employee or agent of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise for which such person is or was serving at the request of the Company.

(c)

"Disinterested Director" means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

(d)

"Effective Date" means the date set forth in the first paragraph of this Agreement.

(e)

"Expenses" shall include all reasonable and out-of-pocket attorneys' fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding.

(f)

"Independent Counsel" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party, or (ii) any other party to or witness in the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. If a Change of Control has not occurred, Independent Counsel shall be selected by the Board of Directors, with the approval of Indemnitee, which approval will not be unreasonably withheld. If a Change of Control has occurred, Independent Counsel shall be selected by Indemnitee, with the approval of the Board of Directors, which approval will not be unreasonably withheld.

(g)

"Proceeding" includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding, whether civil, criminal, administrative or investigative (including on appeal), except one pending or completed on or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee.

Section 2.

Services by Indemnitee. Indemnitee will serve as an officer of the Company. However, this Agreement shall not impose any obligation on Indemnitee or the Company to continue Indemnitee's service to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any.

Section 3.

Indemnification - General. The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise to the maximum extent permitted by Maryland law in effect on the date hereof and as amended from time to time; provided, however, that no change in Maryland law shall have the effect of reducing the benefits available to Indemnitee hereunder based on Maryland law as in effect on the date hereof. The rights of Indemnitee provided in this Section 3 shall include, without limitation, the rights set

forth in the other sections of this Agreement, including any additional indemnification permitted by Section 2-418(g) of the Maryland General Corporation Law ("MGCL").

Section 4.

Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 4 if, by reason of his Corporate Status, he is, or is threatened to be, made a party to or a witness in any threatened, pending, or completed Proceeding, other than a Proceeding by or in the right of the Company. Pursuant to this Section 4, Indemnitee shall be indemnified against all judgments, penalties, fines and amounts paid in settlement and all Expenses actually and reasonably incurred by him or on his behalf in connection with a Proceeding by reason of his Corporate Status unless it is established that (i) the act or omission of Indemnitee was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty, (ii) Indemnitee actually received an improper personal benefit in money, property or services, or (iii) in the case of any criminal Proceeding, Indemnitee had reasonable cause to believe that his conduct was unlawful.

Section 5.

Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 5 if, by reason of his Corporate Status, he is, or is threatened to be, made a party to or a witness in any threatened, pending or completed Proceeding brought by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 5, Indemnitee shall be indemnified against all amounts paid in settlement and all Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding unless it is established that (i) the act or omission of Indemnitee was material to the matter giving rise to such a Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (ii) Indemnitee actually received an improper personal benefit in money, property or services.

Section 6.

Court-Ordered Indemnification. Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction, upon application of Indemnitee and such notice as the court shall require, may order indemnification in the following circumstances:

(a)

if it determines Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall order indemnification, in which case Indemnitee shall be entitled to recover the expenses of securing such reimbursement; or

(b)

if it determines that Indemnitee is fairly and reasonably entitled to

indemnification in view of all the relevant circumstances, whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper. However, indemnification with respect to any Proceeding by or in the right of the Company or in which liability shall have been adjudged in the circumstances described in Section 2-418(c) of the MGCL shall be limited to Expenses actually and reasonably incurred by him or on his behalf in connection with a Proceeding.

Section 7. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, and without limiting any 

12

Doc:98596-1

such provision, to the extent that Indemnitee is, by reason of his Corporate Status, made a party to and is successful, on the merits or otherwise, in the defense of any Proceeding, he shall be indemnified for all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

Section 8.

Advance of Expenses. The Company shall advance all reasonable Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection with any Proceeding (other than a Proceeding brought to enforce indemnification under this Agreement, applicable law, the Charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors)

to which Indemnitee is, or is threatened to be, made a party or a witness, within ten days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written affirmation by Indemnitee of Indemnitee's good faith belief that the standard of conduct necessary for indemnification by the Company as authorized by law and by this Agreement has been met and a written undertaking by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of the execution thereof, to reimburse the portion of any Expenses advanced to Indemnitee relating to claims, issues or matters in the Proceeding as to which it shall ultimately be established that the standard of conduct has not been met and which have not been successfully resolved as described in Section 7. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted without reference to Indenmitee's financial ability to repay such advanced Expenses and without any requirement to post security therefor.

Section 9.

Procedure for Determination of Entitlement to Indemnification.

(a)

To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification.

(b)

Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 9(a) hereof, a determination, if required by applicable law, with respect to Indemnitee's entitlement thereto shall promptly be made in the specific case: (i) if a Change in

Control shall have occurred, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall not have occurred, (A) by the Board of Directors (or a duly authorized committee thereof) by a majority vote of a quorum consisting of Disinterested Directors (as herein defined), or (B) if a quorum of the Board of Directors consisting of Disinterested Directors is not obtainable or, even if obtainable, such quorum of Disinterested Directors so directs, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, or (C) if so directed by a majority of the members of the Board of Directors, by the stockholders of the Company. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indenmitee and reasonably necessary to such determination in the discretion of the Board of Directors or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 9. Any Expenses actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification) and the Company shall indemnify and hold Indemnitee harmless therefrom.

Section 10.

Presumptions and Effect of Certain Proceedings.

(a)

In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making of any determination contrary to that presumption.

(b)

The termination of any Proceeding by judgment, order, settlement, conviction, a plea of nolo contendere or its equivalent, or an entry of an order of probation prior to judgment, does not create a presumption that Indemnitee did not meet the requisite standard of conduct described herein for indemnification.

Section 11.

Remedies of Indemnitee.

(a)

If (i) a determination is made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advance of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 9(b) of this Agreement within 60 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 7 of this Agreement within ten days after receipt by the Company of a written request therefor, or (v) payment of indemnification is not made within ten days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate court located in the State of Maryland, or in any other court of competent jurisdiction, of his entitlement to such

12

Doc:98596-1

indemnification or advance of Expenses. Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 11(a); provided, however, that the foregoing clause shall not apply to a proceeding brought by Indemnitee to enforce his rights under Section 7 of this Agreement.

(b)

In any judicial proceeding or arbitration commenced pursuant to this Section 11 the Company shall have the burden of proving that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be.

(c)

If a determination shall have been made pursuant to Section 9(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 11, absent a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification.

(d)

In the event that Indemnitee, pursuant to this Section 11, seeks a judicial adjudication of or an award in arbitration to enforce his rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably incurred by him in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.

Section 12.

Defense of the Underlying Proceeding.

(a)

Indemnitee shall notify the Company promptly upon being served with or receiving any summons, citation, subpoena, complaint, indictment, information, notice, request or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder; provided, however, that the failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company's ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only to the extent the Company is thereby actually so prejudiced.

(b)

Subject to the provisions of the last sentence of this Section 12(b) and of Section 12(c) below, the Company shall have the right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall notify Indemnitee of any such decision to defend within 15 calendar days following receipt of notice of any such Proceeding under Section 12(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or delayed, consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which

(i) includes an admission of fault of Indemnitee or (ii) does not include, as an unconditional term thereof, the full release of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee. This Section 12(b) shall not apply to a Proceeding brought by Indemnitee under Section 11 above or Section 18 below.

(c)

Notwithstanding the provisions of Section 12(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee's Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that he may have separate defenses or counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that an actual or apparent conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if the Company fails to assume the defense of such Proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee's choice, subject to the prior approval of the Company, which shall not be unreasonably withheld, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee's choice, subject to the prior approval of the Company, which shall not be unreasonably withheld, at the expense of the Company (subject to Section 11(d)), to represent Indemnitee in connection with any such matter.

Section 13.

Non-Exclusivity; Survival of Rights; Subrogation; Insurance.

(a)

The rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal.

(b)

In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

(c)

The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

12

Doc:98596-1

Section 14.

Insurance. The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions deemed appropriate by the Board of Directors of the Company, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee for service as a director or officer of the Company and covering the Company for any indemnification or advance of Expenses made by the Company to Indemnitee for any claims made against Indemnitee for service as a director or officer of the Company. Without in any way limiting any other obligation under this Agreement, the Company shall indemnify Indemnitee for any payment by Indemnitee arising out of the amount of any deductible or retention and the amount of any excess of the aggregate of all judgments, penalties, fines, settlements and reasonable Expenses actually and reasonably incurred by Indemnitee in connection with a Proceeding over the coverage of any insurance referred to in the previous sentence.

Section 15.

Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is or may be, by reason of his Corporate Status, a witness in any Proceeding, whether instituted by the Company or any other party, and to which Indemnitee is not a party but in which the Indemnitee receives a subpoena to testify, he shall be advanced all reasonable Expenses and indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

Section 16.

Duration of Agreement; Binding Effect.

(a)

This Agreement shall continue until and terminate ten years after the date that Indemnitee's Corporate Status shall have ceased; provided, that the rights of Indemnitee hereunder shall continue until the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advance of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 11 of this Agreement relating thereto.

(b)

The indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, trustee, officer, employee or agent of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the written request of the Company, and shall inure to the benefit of Indemnitee and his spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.

(c)

The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

Section 17.

Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

Section 18.

Exception to Right of Indemnification or Advance of Expenses. Notwithstanding any other provision of this Agreement, Indemnitee shall not be entitled to indemnification or advance of Expenses under this Agreement with respect to any Proceeding brought by Indemnitee, unless (a) the Proceeding is brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Sections 8 and 11 of this Agreement, or (b) the Company's Bylaws, as amended, the Charter, a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise.

Section 19.

Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. One such counterpart signed by the party against whom enforceability is sought shall be sufficient to evidence the existence of this Agreement.

Section 20.

Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

Section 21.

Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

Section 22.

Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:

(a)

If to Indemnitee, to: The address set forth on the signature page hereto.

12

Doc:98596-1

(b)

If to the Company to:

Inland Western Retail Real Estate Trust, Inc.

Streetaddress2901 Butterfield Road

CityplaceOak Brook, StateIllinois  PostalCode60523

Attn:  Principal Financial Officer

With a copy to:

The Inland Real Estate Group, Inc.

Streetaddress2901 Butterfield Road

CityplaceOak Brook, StateIllinois  PostalCode60523

Attn:  General Counsel

or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

Section 23.

Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of StateplaceMaryland, without regard to its conflicts of laws rules.

Section 24.

Miscellaneous. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.

ATTEST:

COMPANY

INLAND WESTERN RETAIL REAL ESTATE TRUST, INC.

By: /s/ Steven P. Grimes                        

(SEAL) Name:  Steven P. Grimes

Title:  Treasurer/PFO

WITNESS:

INDEMNITEE

/s/ Gary Pechter                                              Name: Gary Pechter

EXHIBIT A

FORM OF UNDERTAKING TO REPAY EXPENSES ADVANCED The Board of Directors of Inland Western Retail Real Estate Trust, Inc.

Re: Undertaking to Repay Expenses Advanced

Ladies and Gentlemen:

This undertaking is being provided pursuant to that certain Indemnification Agreement dated the

day of

, 200  , by and between Inland Western Retail Real Estate Trust, Inc. (the "Company") and the undersigned Indemnitee (the "Indemnification Agreement"), pursuant to which I am entitled to advance of expenses in connection with [Description of Proceeding] (the "Proceeding").

Terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement.

I am subject to the Proceeding by reason of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm that at all times, insofar as I was involved as an officer of the Company, in any of the facts or events giving rise to the Proceeding, I (1) acted in good faith and honestly, (2) did not receive any improper personal benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable cause to believe that any act or omission by me was unlawful.

In consideration of the advance of Expenses by the Company for reasonable attorneys' fees and related expenses incurred by me in connection with the Proceeding (the "Advanced Expenses"), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (2) I actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding, I had reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced Expenses relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established and which have not been successfully resolved as described in Section 7 of the Indemnification Agreement. To the extent that Advanced Expenses do not relate to a specific claim, issue or matter in the Proceeding, I agree that such Expenses shall be allocated on a reasonable and proportionate basis.

IN WITNESS WHEREOF, I have executed this Affirmation and Undertaking on this

day of

, 200 .

WITNESS:

12

Doc:98596-1

Endnotes

(SEAL)exhibit10-1.htm

     

    
 

    Exhibit
      10.1

    

    WHITING
      PETROLEUM CORPORATION

     

    RESTRICTED
      STOCK AGREEMENT

     

    THIS
      RESTRICTED STOCK AGREEMENT (this “Agreement”) is made and entered into as of
      _____________________ by and between Whiting Petroleum Corporation, a Delaware
      corporation with its principal offices at Denver, Colorado (the
“Company”), and the executive officer of the Company or one of its
      affiliates whose signature is set forth on the signature page hereof (the
“Participant”).

     

    W
      I T N E S S E T H :

    

    WHEREAS,
      the Company has adopted the Whiting Petroleum Corporation 2003 Equity Incentive
      Plan (as amended, the “Plan”) to permit shares of the Company’s common
      stock (the “Stock”), to be awarded to certain key salaried employees
      and non-employee directors of the Company and any affiliate of the Company;
      and

     

    WHEREAS,
      the Participant is an executive officer of the Company, and the Company desires
      such person to remain in such capacity and to further an opportunity for his
      or
      her stock ownership in the Company in order to increase his or her proprietary
      interest in the success of the Company;

     

    NOW,
      THEREFORE, in consideration of the premises and of the covenants and agreements
      herein set forth, the parties hereby mutually covenant and agree as
      follows:

     

    1.  Award
      of Restricted Stock.  Subject to the terms and conditions set
      forth herein, the Company hereby awards the Participant the number of shares
      of
      Stock set forth on the signature page hereof (the “Restricted
      Stock”).

     

    2.  Restrictions.  (a)  Except
      as
      otherwise provided herein, Restricted Stock may not be sold, transferred,
      pledged, assigned, encumbered or otherwise alienated or hypothecated until
      the
      date of release (the “Release Date”) determined as
      follows:

     

    (i)  the
      Release Date with respect to one-third of the shares of Restricted Stock shall
      be the first anniversary of the Grant Date specified on the signature page
      hereof (the “Grant Date”) if the Compensation Committee of the Board of
      Directors of the Company (the “Committee”) determines the Performance
      Contingency (as defined below) has been satisfied with respect to the Company’s
      fiscal year immediately preceding the first anniversary of the Grant
      Date.

     

    (ii)  the
      Release Date with respect to two-thirds of the shares of Restricted Stock (less
      any shares of Restricted Stock for which there already has been a Release Date)
      shall be the second anniversary of the Grant Date if the Committee determines
      the Performance Contingency has been satisfied with respect to the Company’s
      fiscal year immediately preceding the second anniversary of the Grant Date;
      and

     

    (iii)  the
      Release Date with respect to all of the shares of Restricted Stock (less any
      shares of Restricted Stock for which there already has been a Release Date)
      shall be the third anniversary of the Grant Date if the Committee determines
      the
      Performance Contingency has been satisfied with respect to the Company’s fiscal
      year immediately preceding the third anniversary of the Grant Date.

     

    If
      the
      Committee determines that the Performance Contingency has not been satisfied
      with respect to the Company’s fiscal year immediately preceding the third
      anniversary of the Grant Date, then all Restricted Stock that previously has
      not
      been released shall be forfeited to the Company on the date the Committee makes
      such determination.

    

    (b)  Within
      six weeks after the end of each of the Company’s fiscal years preceding the
      first three anniversaries of the Grant Date, the Committee will determine
      whether the Performance Contingency has been satisfied with respect to such
      fiscal year based on the criteria set forth in this Section 2.  The
“Performance Contingency” will be satisfied with respect to such a
      fiscal year if at the end of such fiscal year the Company has achieved a ____%
      increase (compounded annually) in the amount by which the PV10% After Tax Value
      Per Share (as defined below) at the end of such fiscal year exceeds the Debt
      Per
      Share (as defined below) at the end of such fiscal year compared to the amount
      by which the PV10% After Tax Value Per Share at the end of the fiscal year
      immediately preceding the Grant Date exceeds the Debt Per Share at the end
      of
      the fiscal year immediately preceding the grant date.

     

    (c)  “PV10%
      After Tax Value Per Share” means an amount equal to the quotient of (i) the
      standardized measure of discounted future net cash flows relating to the
      Company’s proved reserves as of the end of a fiscal year calculated in
      accordance with Securities and Exchange Commission guidelines using prices
      at
      such fiscal year end as reported in the Company’s Annual Report on Form 10-K and
      an annual discount rate of 10% divided by (ii) the Company’s issued and
      outstanding shares as of the end of such fiscal year.

     

    (d)  “Debt
      Per Share” means an amount equal to the quotient of (i) the Company’s
      consolidated long-term debt as of the end of a fiscal year divided by (ii)
      the
      Company’s issued and outstanding shares as of the end of such fiscal
      year.

     

    3.  Initial
      Issuance.  The Restricted Stock shall be issued as soon as
      practicable in the name of the Participant but shall be held in a segregated
      account by the transfer agent of the Company.  Unless forfeited as
      provided herein, Restricted Stock eligible for release pursuant to the terms
      hereof shall cease to be held in such segregated account and certificates for
      such Restricted Stock shall be delivered or such Restricted Stock shall be
      transferred electronically to the Participant on the applicable Release
      Date.

     

    4.  Transfer
      After Release Date; Securities Law Restrictions.  On the
      applicable Release Date as determined in accordance with Paragraph 2, that
      portion of Restricted Stock shall become free of the restrictions of Paragraph
      2
      and be freely transferable by the Participant.  Notwithstanding the
      foregoing or anything to the contrary herein, the Participant agrees and
      acknowledges with respect to any Restricted Stock that has not been registered
      under the Securities Act of 1933, as amended (the “Act”) (i) he or she
      will not sell or otherwise dispose of such Stock except pursuant to an effective
      registration statement under the Act and any applicable state securities laws,
      or in a transaction which, in the opinion of counsel for the Company, is exempt
      from such registration, and (ii) a legend will be placed on the certificates
      for
      the Restricted Stock to such effect.

     

    5.  Termination
      of Employment or Death.  If the Participant’s employment with the
      Company (as applicable) is terminated for any reason (including death) prior
      to
      the Release Date, all Restricted Stock that has not been released shall be
      forfeited to the Company on the date on which such termination of status
      occurs.

     

    6.  Certificate
      Legend.  In addition to any legends placed on certificates for
      Restricted Stock under Paragraph 4 hereof, each certificate for shares of
      Restricted Stock may bear the following legend:

     

    “THE
      SALE
      OR OTHER TRANSFER OF THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE,
      WHETHER VOLUNTARY, INVOLUNTARY OR BY OPERATION OF LAW, IS SUBJECT TO CERTAIN
      RESTRICTIONS SET FORTH IN THE WHITING PETROLEUM CORPORATION 2003 EQUITY
      INCENTIVE PLAN AND A RESTRICTED STOCK AGREEMENT BETWEEN WHITING PETROLEUM
      CORPORATION AND THE REGISTERED OWNER HEREOF.  A COPY OF SUCH PLAN AND
      SUCH AGREEMENT MAY BE OBTAINED FROM THE CORPORATE SECRETARY OF WHITING PETROLEUM
      CORPORATION.”

    

    When
      the
      restrictions imposed by Paragraph 2 hereof terminate, the Participant shall
      be
      entitled to have the foregoing legend removed from the certificates representing
      such Restricted Stock.

     

    7.  Voting
      Rights; Dividends and Other Distributions. (a)  While
      the Restricted Stock is subject to restrictions under Paragraph 2 and prior
      to
      any forfeiture thereof, the Participant may exercise full voting rights for
      the
      Restricted Stock registered in his or her name and held in a segregated account
      hereunder.

     

    (b)  While
      the
      Restricted Stock is subject to the restrictions under Paragraph 2 and prior
      to
      any forfeiture thereof, the Participant shall be entitled to receive all
      dividends and other distributions paid with respect to the Restricted
      Stock.  If any such dividends or distributions are paid in Stock, such
      shares shall be subject to the same terms, conditions and restrictions as the
      shares of Restricted Stock with respect to which they were paid, including
      the
      requirement that Restricted Stock be held in a segregated account pursuant
      to
      Paragraph 3 hereof.

     

    (c)  Subject
      to the provisions of this Agreement, the Participant shall have, with respect
      to
      the Restricted Stock, all other rights of holders of Stock.

     

    8.  Tax
      Withholding.  (a)  It
      shall be a condition of the obligation of the Company to issue or release from
      the segregated account Restricted Stock to the Participant, and the Participant
      agrees, that the Participant shall pay to the Company upon demand such amount
      as
      may be requested by the Company for the purpose of satisfying its liability
      to
      withhold federal, state, or local income or other taxes incurred by reason
      of
      the award of the Restricted Stock or as a result of the termination of the
      restrictions on such Stock hereunder.

     

    (b)  If
      the
      Participant does not make an election under Section 83(b) of the Internal
      Revenue Code of 1986, as amended, with respect to the Restricted Stock awarded
      hereunder, the Participant may satisfy the Company’s withholding tax
      requirements by electing to have the Company withhold that number of shares
      of
      Restricted Stock otherwise deliverable to the Participant from the segregated
      account hereunder or to deliver to the Company a number of shares of Stock,
      in
      each case, having a Fair Market Value (as defined in the Plan) on the Tax Date
      (as defined below) equal to the minimum amount required to be withheld as a
      result of the termination of the restrictions on such Restricted
      Stock.  The election must be made in writing and, if the Participant
      is an Insider (as defined below), (i) delivered to the Company either six months
      or more prior to the Tax Date or during a ten-day period beginning on the third
      day following the release of the Company’s quarterly or annual summary statement
      of sales and earnings which occurs prior to the Tax Date and (ii) shall not
      be
      effective until at least six months after the Grant Date, provided,
however, that the restriction in clause (ii) shall not apply in the
      event
      death or Total Disability of the Participant occurs prior to the expiration
      of
      such six-month period.  If the Participant is not an Insider, the
      election must be delivered to the Company prior to the Tax Date.  If
      the Participant is an Insider, the full number of shares of Restricted Stock
      deliverable may be released to the Participant, and in such event the
      Participant shall be unconditionally obligated to tender back to the Company,
      as
      soon as practicable after the Tax Date, a number of shares of Stock having
      a
      Fair Market Value on the Tax Date equal to the minimum amount required to be
      withheld.  If the number of shares so determined shall include a
      fractional share, the Participant shall deliver cash in lieu of such fractional
      share.  All elections shall be made in a form approved by the
      Committee and shall be subject to disapproval, in whole or in part, by the
      Committee.  As used herein, (i) “Tax Date” means the date on
      which the Participant must include in his or her gross income for federal income
      tax purposes the fair market value of the Restricted Stock over the purchase
      price therefor and (ii) “Insider” means an officer or director of the
      Company or a beneficial owner of more than 10% of the class of
      Stock.

     

    9.  Powers
      of Company Not Affected.  The existence of the Restricted Stock
      shall not affect in any way the right or power of the Company or its
      stockholders to make or authorize any combination, subdivision or
      reclassification of the Stock or any reorganization, merger, consolidation,
      business combination, exchange of shares, or other change in the Company’s
      capital structure or its business, or any issue of bonds, debentures or stock
      having rights or preferences equal, superior or affecting the Restricted Stock
      or the rights thereof, or dissolution or liquidation of the Company, or any
      sale
      or transfer of all or any part of its assets or business, or any other corporate
      act or proceeding, whether of a similar character or
      otherwise.  Nothing in this Agreement shall confer upon the
      Participant any right to continue in the employment of the Company, or interfere
      with or limit in any way the right of the Company to terminate the Participant’s
      employment at any time.

     

    10.  Interpretation
      by Committee.  The Participant agrees that any dispute or
      disagreement which may arise in connection with this Agreement shall be resolved
      by the Committee, in its sole discretion, and that any interpretation by the
      Committee of the terms of this Agreement or the Plan and any determination
      made
      by the Committee under this Agreement or the Plan may be made in the sole
      discretion of the Committee and shall be final, binding, and conclusive. Any
      such determination need not be uniform and may be made differently among
      Participants awarded Restricted Stock.

     

    11.  Miscellaneous.  (a)  This
      Agreement
      shall be governed and construed in accordance with the internal laws of the
      State of Delaware applicable to contracts made and to be performed therein
      between residents thereof.

     

    (b)  This
      Agreement may not be amended or modified except by the written consent of the
      parties hereto.

     

    (c)  The
      captions of this Agreement are inserted for convenience of reference only and
      shall not be taken into account in construing this Agreement.

     

    (d)  Any
      notice, filing or delivery hereunder or with respect to Restricted Stock shall
      be given to the Participant at either his or her usual work location or his
      or
      her home address as indicated in the records of the Company, and shall be given
      to the Committee or the Company at 1700 Broadway, Suite 2300, Denver, Colorado
      80290-2300, Attention:  Corporate Secretary.  All such
      notices shall be given by first class mail, postage prepaid, or by personal
      delivery.

     

    (e)  This
      Agreement shall be binding upon and inure to the benefit of the Company and
      its
      successors and assigns and shall be binding upon and inure to the benefit of
      the
      Participant,  except that the Participant may not transfer any
      interest in any Restricted Stock prior to the release of the restrictions
      imposed by Paragraph 2.

     

    (f)  This
      Agreement is subject in all respects to the terms and conditions of the
      Plan.

     

    12.  Change
      of Control.  (a) Notwithstanding
      any other
      provision to the contrary contained in this Agreement, effective upon a Change
      in Control of the Company (as defined below), the restrictions imposed upon
      the
      Restricted Stock (except for any such shares which were previously forfeited
      to
      the Company) by Paragraph 2 of this Agreement shall immediately be deemed to
      have lapsed and the Release Date shall be deemed to have occurred as of the
      date
      of the Change in Control of the Company with respect to such Restricted
      Stock.

     

    (b)  The
      following terms shall have the following meanings when used in this Paragraph
      12:

     

    (i)  The
      term
“Exchange Act” shall mean the Securities Exchange Act of 1934, as
      amended.

     

    (ii)  The
      terms
“Affiliate” and “Associate” shall have the respective meanings
      ascribed to such terms in Rule 12b-2 of the General Rules and Regulations of
      the
      Exchange Act.

     

    (iii)  A
      Person
      (as defined herein) shall be deemed to be the “Beneficial Owner” of any
      securities:

     

    (1)  which
      such Person or any of such Person’s Affiliates or Associates has the right to
      acquire (whether such right is exercisable immediately or only after the passage
      of time) pursuant to any agreement, arrangement or understanding, or upon the
      exercise of conversion rights, exchange rights, rights, warrants or options,
      or
      otherwise; provided, however, that a Person shall not be deemed
      the Beneficial Owner of, or to beneficially own, securities tendered pursuant
      to
      a tender or exchange offer made by or on behalf of such Person or any of such
      Person’s Affiliates or Associates until such tendered securities are accepted
      for purchase;

     

    (2)  which
      such Person or any of such Person’s Affiliates or Associates, directly or
      indirectly, has the right to vote or dispose of or has “beneficial ownership” of
      (as determined pursuant to Rule 13d-3 of the General Rules and Regulations
      under
      the Exchange Act), including pursuant to any agreement, arrangement or
      understanding; provided, however, that a Person shall not be
      deemed the Beneficial Owner of, or to beneficially own, any security under
      this
      subparagraph (2) as a result of an agreement, arrangement or understanding
      to
      vote such security if the agreement, arrangement or
      understanding:  (x) arises solely from a revocable proxy or consent
      given to such Person in response to a public proxy or consent solicitation
      made
      pursuant to, and in accordance with, the applicable rules and regulations under
      the Exchange Act and (y) is not also then reportable on a Schedule 13D under
      the
      Exchange Act (or any comparable or successor report); or

     

    (3)  which
      are
      beneficially owned, directly or indirectly, by any other Person with which
      such
      Person or any of such Person’s Affiliates or Associates has any agreement,
      arrangement or understanding for the purpose of acquiring, holding, voting
      (except pursuant to a revocable proxy as described in subparagraph (2) above)
      or
      disposing of any voting securities of the Company.

     

    (iv)  A
      “Change in Control of the Company” shall mean a change in control of a
      nature that would be required to be reported in response to Item 6(e) of
      Schedule 14A of Regulation 14A promulgated under the Exchange
      Act.  Without limiting the inclusiveness of the definition in the
      preceding sentence, a Change in Control of the Company shall be deemed to have
      occurred if:

     

    (1)  any
      Person (other than any employee benefit plan of the Company or any affiliate
      of
      the Company, any entity holding securities of the Company for or pursuant to
      the
      terms of any such plan or any trustee, administrator or fiduciary of such plan)
      is or becomes the Beneficial Owner of securities of the Company representing
      at
      least 51% of the combined voting power of the Company’s then outstanding
      securities;

     

    (2)  one-third
      or more of the members of the Company’s Board of Directors are not Continuing
      Directors (as hereafter defined);

     

    (3)  the
      stockholders of the Company approve (x) any consolidation or merger of the
      Company in which the Company would not be the continuing or surviving
      corporation or pursuant to which shares of Stock would be converted into cash,
      securities or other property, other than a merger of the Company in which the
      holders of the Stock immediately prior to the merger would have the same
      proportionate ownership of common stock of the surviving corporation immediately
      after the merger, or (y) any sale, lease, exchange or other transfer (in one
      transaction or a series of related transactions) of all, or substantially all,
      of the assets of the Company; or

     

    (4)  the
      stockholders of the Company approve any bid or proposal for the liquidation
      or
      dissolution of the Company.

     

    (v)  The
      term
“Continuing Director” shall mean any member of the Board of Directors
      of the Company who was a member of such Board on the Grant Date, and any
      successor of a Continuing Director who is recommended to succeed a Continuing
      Director by a majority of the Continuing Directors then on such
      Board.

     

    (vi)  The
      term
“Person” shall mean any individual, firm, partnership, corporation or
      other entity, including any successor (by merger or otherwise) of such entity,
      or a group of any of the foregoing acting in concert.

     

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be executed by its
      duly authorized officer and the Participant has hereunto affixed his or her
      signature, all as of the day and year first set forth above.

     

     

    
      
        
          
            
              
                
                  	
                           COMPANY 

                          WHITING PETROLEUM CORPORATION

                        	 PARTICIPANT	 
	 	 	 	
                        	 
	
                           By:

                        	
                           

                        	 	 	
                           

                        
	 Name:	
                           

                        	 	 No.
                          of
                          Shares of Restricted Stock:	
                           

                        
	 Title:	
                           

                        	 	 Grant
                          Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]