Document:

Exhibit 10.29

    
      

      

    

    

      EXHIBIT
        10.29

      

      SECOND
        AMENDMENT TO THE

      WEINGARTEN
        REALTY INVESTORS

      DEFERRED
        COMPENSATION PLAN

      ~Corrected~

      

      

      R
        E C I T A L S:

      

      WEINGARTEN
        REALTY INVESTORS, a Texas real estate investment trust (the “Employer”) has
        previously established the Weingarten Realty Investors Deferred Compensation
        Plan (the “Deferred Compensation Plan”), which has most recently been amended
        and restated effective September 1, 2002 under the terms of which selected
        employees and/or management are entitled to defer a portion of their
        compensation and/or receive discretionary contributions from the Employer.
        The
        Deferred Compensation Plan was further amended on November 3, 2003.

      

      The
        Employer has previously established the Weingarten Realty Investors 1993
        Share
        Incentive Plan and the Weingarten Realty Investors 2001 Long Term Incentive
        Plan
        (collectively, the “Long Term Incentive Plan”) under which selected full-time
        employees, consultants and/or Trust Managers may be granted Share Options
        or
        Restricted Shares, as therein defined. Successor incentive plans may be added
        in
        the future.

      

      The
        Board
        of Trust Managers desires to amend and supplement the Deferred Compensation
        Plan
        to permit the deferral of an Award
        of
Restricted
        Shares or
        Options
        pursuant
        to the Long Term Incentive Plan.

      

      NOW
        THEREFORE, the Employer hereby restates the Deferred Compensation Plan, Article
        XI, to be effective
        January 1, 2004
        in its
        entirety as follows:

      

      ARTICLE
        XI

      Restricted
        Share Deferral

      

      11.1     General.
        Any
        Trust Manager and any Participant shall be eligible to elect the deferral
        of an
Award
        of
Restricted
        Shares or Options
        as
        defined in and pursuant to the Weingarten Realty Investors 1993 Share Incentive
        Plan and the Weingarten Realty Investors 2001 Long Term Incentive Plan, and
        any
        subsequently adopted incentive plan (collectively, the “Long Term Incentive
        Plan”) which are incorporated herein by this reference. Such election may be
        made with respect to either unvested Restricted
        Shares or
        Options
        of a
        prior Award
        of
Restricted
        Shares or Options
        or as to
        any subsequent Award
        of
Restricted
        Shares or Options.
        The
        manner and duration of such deferral shall be in accordance with the provisions
        of this Article XI and in accordance with procedures established by the
        Administrator.

      

      11.2     Weingarten
        Restricted Stock Deferral.
        A
        Participant or Trust
        Manager
        may
        elect to defer all or a portion of the Award
        of
Restricted
        Shares or Options,
        on such
        terms as the Administrator may permit, by completing a Share or Option Award
        Deferral Agreement and submitting it to the Administrator prior to the
Award
        of

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Restricted
        Shares or Options.
        Any
        election to defer all or a portion of the Award
        of
Restricted
        Shares or Options
        shall
        apply to any subsequent Award
        unless
        and until a revised Share or Option Award Deferral Agreement is submitted
        to the
        Administrator. Such deferral election shall be made pursuant to Section 3.1,
        above, in accordance with the provisions thereof (with respect to such
        deferrals, the “Share or Option Deferral Period”). The Administrator shall
        credit such deferred Restricted
        Shares or Options
        to a
        bookkeeping account (to be known as a “Weingarten Stock Account”) for the
        benefit of such Participant or Trust
        Manager.
        The
Restricted
        Shares or Options
        so
        deferred initially shall be accounted for by the Employer and shall be
        transferred to the Trustee at such time as the Employer shall, in its
        discretion, determine. Any Restricted
        Share or Option
        deferral
        made prior to the effective date of this Second Amendment shall be revised
        to be
        consistent with this Section 11.2, as amended, in accordance with procedures
        established by the Administrator.

      

      11.3     Terms
        and Conditions of Awards.
        Any
        deferred Restricted
        Shares or Options
        shall
        remain subject to the forfeiture and transfer restriction provisions of the
        Long
        Term Incentive Plan and any other terms and conditions established by the
        Management
        Development and Compensation Committee
        incident
        thereto. In the event that the Restriction
        Period,
        as
        defined under the Long Term Incentive Plan, has not expired at the end of
        the
        applicable Share or Option Deferral Period elected under the applicable Share
        or
        Option Award Deferral Agreement, any Restricted
        Shares or Options
        distributed by the Trustee shall remain subject to any and all such terms
        and
        conditions and any applicable provisions of the Long Term Incentive Plan
        imposed
        upon such Restricted
        Shares or Options
        through
        the expiration of the Restriction Period. Restricted
        Shares or Options
        distributed by the Trustee shall contain the legend provided under the Long
        Term
        Incentive Plan. If the Restriction
        Period
        shall
        expire prior to the Share or Option Deferral Election Period, a Trust Manager
        or
        Participant, subject to any applicable securities law restrictions, may direct
        that an equivalent amount in value of any such vested Deferred Shares or
        Options
        credited to a Weingarten Stock Account for his or her benefit, be credited
        to an
        Investment Fund in lieu of such Deferred Shares or Options, in which case
        the
        Participant’s benefit hereunder with respect to such amount thereafter shall be
        determined by reference to the Investment or Investment Fund so
        selected.

      

      11.4     Dividends.
        

      

        a.     General.
        Unless
        a Dividend Deferral Election is made by the Trust Manager or Participant,
        any
        dividends payable with respect to any Restricted
        Shares shall
        be
        paid to the Participant or Trust Manager who deferred such Restricted
        Shares,
        subject, in the case of a Participant, to applicable withholding.

      

        b.     Dividend
        Deferral Election.
        In
        accordance with procedures and in such form as may be established by the
        Administrator, a Trust Manager or Participant, in connection with a deferral
        of
        an Award
        of
        Restricted
        Shares
        also may
        irrevocably elect to defer the receipt of the dividends payable with respect
        to
        some or all of the deferred Restricted
        Shares
        during
        the Share Deferral Period. In such case, any and all such 

       

       

      
        
           

        

        
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      dividends
        attributable thereto shall be paid by the Employer to the Trustee, and shall
        be
        held in trust and may be credited as either additional Deferred Shares or
        any
        other Investment or Investment Fund invested in accordance with the Trust
        Manager’s or Participant’s election under the terms of the Deferred Compensation
        Plan or subsequent investment election as herein provided. The account
        attributable to the dividends so deferred, adjusted for investment experience,
        as provided in the Deferred Compensation Plan, shall be distributed to the
        Trust
        Manager or Participant upon the expiration of the applicable Share Deferral
        Period.

      

      11.5     Definitions.
        All
        bolded terms in this Article XI shall have the meaning contained in the Long
        Term Incentive Plan. For purposes of Section 1.13 of this Plan, “Investment Fund
        or Funds” shall include any deferred Restricted
        Shares or Options
        or any
        deferred dividends to be credited as an equivalent amount in value of Deferred
        Shares.

      

      Executed
        this 13th day of October, 2005, as at October 22, 2004.

      

      WEINGARTEN
        REALTY INVESTORS

      

      

      

      
        	
                By:

              	
                /s/
                  Stephen Richter

              
	
                Name:

              	
                Stephen
                  Richter

              
	
                Title:

              	
                Sr.
                  VP/CFO

              

      

      

      

    

     

    3Exhibit 10.30

    
      

      

    

    

      Exhibit
        10.30

      

      Third
        Amendment to the

      Weingarten
        Realty Investors

      Deferred
        Compensation Plan

      

      R
        E C I T A L S:

      

      WEINGARTEN
        REALTY INVESTORS, a Texas real estate investment trust (the “Employer”) has
        previously established the Weingarten Realty Investors Deferred Compensation
        Plan (the “Deferred Compensation Plan”) under the terms of which selected
        employees and/or management are entitled to defer a portion of their
        compensation and/or have discretionary contributions made on their behalf
        by the
        Employer.

      

      The
        Employer has previously established the Weingarten Realty Investors 2001
        Long
        Term Incentive Plan (the “Long Term Incentive Plan”) under which selected
        full-time employees, consultants and/or Trust Managers may be granted an
        Award
        of Share Options or Restricted Shares, as therein defined. 

      

      Weingarten
        has determined it to be desirable to amend the Plan in certain respects,
        including with respect to the treatment of deferred Restricted Shares and
        Share
        Options following the lapse of restrictions on Restricted Shares or the exercise
        of Share Options; 

      

      NOW
        THEREFORE, the Board of Trust Managers desires to amend the Deferred
        Compensation Plan as follows, to be effective January 1, 2005.

      

      1.    Article
        XI is hereby amended in its entirety as follows:

      

      Each
        reference to an Award of Restricted Shares shall also include an Award of
        Share
        Options, as defined in the Long Term Incentive Plan.

      

      2.    Section
        11.3 is hereby amended to be and read as follows:

      

      11.3    Terms
        and Conditions of Awards.
        Any
        deferred Restricted Shares or Share Options shall remain subject to the
        forfeiture and transfer restriction provisions of the Long Term Incentive
        Plan
        and any other terms and conditions established by the Management Development
        and
        Compensation Committee incident thereto. In the event that the Restricted
        Period, as defined under the Long Term Incentive Plan, has not expired or
        the
        Share Options have not been exercised at the end of the applicable share
        deferral period, any Restricted Shares or Share Options distributed by the
        Trustee shall remain subject to any and all such terms and conditions and
        any
        applicable provisions of the Long Term Incentive Plan imposed upon such
        Restricted Shares or Share Options. In addition, in the event that the
        Restricted Period has not expired at the end of the applicable share deferral
        period, Restricted Shares distributed by the Trustee shall contain the legend
        provided under the Long Term Incentive Plan. If the Restricted Period shall
        expire or the Share Options are exercised prior to the expiration of the
        share
        deferral election period, the deferred Shares shall be credited to a Weingarten
        Stock Account for 

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      the
        Participant’s benefit and neither the Trust Manager nor the Participant may
        direct that the Shares be liquidated and alternative investment options
        substituted therefor.

      

      3.    Section
        11.6 is hereby added to Article XI at the end thereof to be and read as
        follows:

      

      11.6  Cancellation
        of Certain Restricted Share and Share Option Deferrals.
        Participants and Trust Managers will be entitled to elect, before December
        31,
        2005 to cancel previously made elections to defer Restricted Shares or Share
        Options. Such election shall only apply to deferrals of Restricted Shares
        that
        were not vested and Share Options that are not exercisable as of December
        31,
        2004. If deferrals of Restricted Shares are cancelled, the certificate
        representing such Shares shall be removed from the Weingarten Stock Account
        maintained on behalf of the Participant and transferred to the proper holder
        thereof under the terms of the Long Term Incentive Plan. If deferrals of
        Share
        Options are cancelled, the Award Agreement representing such Options shall
        be
        removed from the Weingarten Stock Account maintained on behalf of the
        Participant and transferred to the proper holder thereof under the terms
        of the
        Long Term Incentive Plan. 

      

      

      Executed
        this 1st day of August, 2005.

      

                             
        WEINGARTEN REALTY INVESTORS

      

      

      

      
        	
                By:

              	
                /s/
                  Michael Townsell

              
	
                Name:

              	
                Michael
                  Townsell

              
	
                Title:

              	
                VP
                  Human Resources

              

      

      

    

     

     

    2

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