Document:

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                                                                    Exhibit 10.3

 CERTAIN ELEMENTS OF THE LIBERTY PROPERTY TRUST EXECUTIVE COMPENSATION PROGRAM

(a)  Salary will be evaluated annually based on peer group information.
(b)  Bonus will be a function of salary with each executive officer able to earn
     a specified percentage of salary. (100% for chief executive officer and 80%
     for chief operating officer, chief financial officer and chief legal
     officer)
(c)  The base amount of the bonus will be subject to a multiplier in accordance
     with the schedule set forth below

               FFO Growth Performance               Bonus Payout Multiplier
               ----------------------               -----------------------
               25th Percentile of Peer Group        50% of Bonus Target
               Median of Peer Group                 100% of Bonus Target
               75th Percentile of Peer Group        150% of Bonus Target

(d)  The Long-Term Incentive ("LTI") payment will be a function of salary with
     each executive officer able to earn a specified percentage of salary (198%
     for chief executive officer and 117% for chief operating officer, chief
     financial officer and chief legal officer) subject to certain caps
     determined in the discretion of the Compensation Committee.

(e)  The base amount of the LTI payment would be subject to a multiplier in
     accordance with the schedule set forth below:

               Total Shareholder Return Performance LTI Award
               ----------------------------------------------
               25th Percentile of Peer Group             50% of Median
               Median of Peer Group                      100% of Median
               75th Percentile of Peer Group             150% of Median

(f)  The LTI would be paid in restricted shares and options, with an approximate
     80%/20% split favoring the use of restricted shares.

(g)  LTI payments will be a function of Total Shareholder Return.Exhibit 10.1

                            MDU Resources Group, Inc.
                        NEO 2005 Base Compensation Table

                                               Current Base         New Base
Name                  Title                  Compensation ($)   Compensation ($)
----                  -----                  ----------------   ----------------

Martin A. White       Chairman of the            650,000            700,000
                      Board, President and
                      Chief Executive
                      Officer

Warren L. Robinson    Executive Vice             350,000            370,000
                      President and Chief
                      Financial Officer

John K. Castleberry   President and Chief        350,000            370,000
                      Executive Officer,
                      WBI Holdings, Inc.

Terry D. Hildestad    President and Chief        350,000            370,000
                      Executive Officer,
                      Knife River
                      Corporation

Paul E. Gatzemeier    President and Chief        245,000            285,000
                      Executive Officer,
                      Centennial Energy
                      Resources LLCExhibit 10.2

                            MDU Resources Group, Inc.
                      Executive Incentive Compensation Plan
                             2004 NEO Payment Chart

<TABLE>
<CAPTION>
Name                     Title                               Payment($)        % of Target
----                     -----                               ----------        -----------

<S>                      <C>                              <C>                    <C>
Martin A. White          Chairman of the Board,           $  1,265,550           194.7%
                         President and Chief Executive
                         Officer

Ronald D. Tipton         Retired Chief Executive               152,460            87.1
                         Officer of Montana-Dakota
                         Utilities Co. and Great Plains
                         Natural Gas Co.

Warren L. Robinson       Executive Vice President and          350,000             200
                         Chief Financial Officer

John K. Castleberry      President and Chief Executive         350,000             200
                         Officer, WBI Holdings, Inc.

Terry D. Hildestad       President and Chief Executive         120,925            69.1
                         Officer, Knife River
                         Corporation

Paul E. Gatzemeier       President and Chief Executive         257,250             175
                         Officer, Centennial Energy
                         Resources LLC
</TABLE>Exhibit 10.3

                            MDU Resources Group, Inc.
                     2005 NEO Annual Award Opportunity Chart

<TABLE>
<CAPTION>
                                            1/1/2005
                                              Base
Name               Title                  Compensation     Threshold ($)   Target ($)   Maximum ($)
----               -----                  ------------     -------------   ----------   -----------

<S>                <C>                  <C>                   <C>           <C>         <C>
Martin A. White    Chairman of the      $   700,000  100%     70,000        700,000     1,400,000
                   Board, President
                   and Chief
                   Executive Officer

Warren L.          Executive Vice       $   370,000   50%     18,500        185,000       370,000
Robinson           President and
                   Chief Financial
                   Officer

John K.            President and        $   370,000   50%     46,250        185,000       370,000
Castleberry        Chief Executive
                   Officer, WBI
                   Holdings, Inc.

Terry D.           President and        $   370,000   50%     46,250        185,000       370,000
Hildestad          Chief Executive
                   Officer, Knife
                   River Corporation

Paul E.            President and        $   285,000   50%     14,250        142,500       285,000
Gatzemeier         Chief Executive
                   Officer,
                   Centennial Energy
                   Resources LLC
</TABLE>Exhibit 10.4

                               WBI Holdings, Inc.
                      Executive Incentive Compensation Plan

<PAGE>

                                                                    Exhibit 10.4

                                WBI HOLDINGS, INC

                      EXECUTIVE INCENTIVE COMPENSATION PLAN

          ------------------------------------------------------------

I. PURPOSE

     The purpose of the Executive Incentive Compensation Plan (the "Plan") is to
provide an incentive for key executives of WBI Holdings, Inc. and any
subsidiaries participating in the Plan (the "Company") to focus their efforts on
the achievement of challenging and demanding corporate objectives. The Plan is
designed to reward successful corporate performance as measured against
specified performance goals as well as exceptional individual performance. When
corporate performance reaches or exceeds the performance targets and individual
performance is exemplary, incentive compensation awards, in conjunction with
salaries, will provide a level of compensation which recognizes the skills and
efforts of the key executives.

II. BASIC PLAN CONCEPT

     The Plan provides an opportunity to earn annual incentive compensation
based on the achievement of specified annual performance objectives. A target
incentive award for each individual within the Plan is established based on the
position level and actual base salary, provided, however, that the Compensation
Committee of the Board of Directors (the "Committee") in its sole discretion,
may, instead of actual base salary, use the assigned salary grade market value
(midpoint) ("Salary"). The target incentive award represents the amount to be
paid, subject to the achievement of the performance objective targets
established each year. Larger incentive awards than target may be authorized
when performance exceeds targets; lesser or no amounts may be paid when
performance is below target.

     It is recognized that during a Plan Year major unforeseen changes in
economic and environmental conditions or other significant factors beyond the
control of management may substantially affect the ability of the Plan
Participants to achieve the specified performance goals. Therefore, in its
review of corporate performance the Committee, in consultation with the Chief
Executive Officer of MDU Resources Group, Inc., may modify the performance
targets.

                                     WBI-1
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However, it is contemplated that such target modifications will be necessary
only in years of unusually adverse or favorable external conditions.

III. ADMINISTRATION

     The Plan shall be administered by the Committee with the assistance of the
President of the Company. The Committee shall approve annually, prior to the
beginning of each Plan Year, the list of eligible Participants, and the target
incentive award level for each position within the Plan. The Plan's performance
targets for the year shall be approved by the Committee no later than its
regularly scheduled February meeting during that Plan Year. The Committee shall
have final discretion to determine actual award payment levels, method of
payment, and whether or not payments shall be made for any Plan Year.

     The Board of Directors of the Company may, at any time and from time to
time, alter, amend, supersede or terminate the Plan in whole or in part,
provided that no termination, amendment or modification of the Plan shall
adversely affect in any material way an award that has met all requirements for
payment without the written consent of the Participant holding such award,
unless such termination, modification or amendment is required by applicable
law.

IV. ELIGIBILITY

     Executives who are determined by the Committee to have a key role in both
the establishment and achievement of Company objectives shall be eligible to
participate in the Plan.

     Nothing in the Plan shall interfere with or limit in any way the right of
the Company to terminate any Participant's employment at any time, for any
reason or no reason in the Company's sole discretion, or confer upon any
Participant any right to continue in the employment of the Company. No executive
shall have the right to be selected to receive an award under the Plan, or,
having been so selected, to be selected to receive a future award.

V. PLAN PERFORMANCE MEASURES

     Performance measures shall be established that consider shareholder and
customer interests. These measures shall be evaluated annually based on
achievement of specified goals.

                                     WBI-2
<PAGE>

     The performance measure reflective of shareholder's interest will be the
percentage attainment of corporate goals, as determined each year by the
Committee. This measure may be applied at the corporate level for individuals,
such as the Chief Executive Officer, or at the business unit level for
individuals whose major or sole impact is on business unit results.

     Individual performance will be assessed based on the achievement of
annually established individual objectives.

     Threshold, target and maximum award levels will be established annually for
each performance measure and business unit. The Committee will retain the right
to make all interpretations as to the actual attainment of the desired results
and will determine whether any circumstances beyond the control of management
need to be considered.

VI. TARGET INCENTIVE AWARDS

     Target incentive awards will be expressed as a percentage of each
Participant's Salary. These percentages shall vary by position and reflect
larger reward opportunity for positions having greater effect on the
establishment and accomplishment of the Company's or business unit's objectives.
An exhibit showing the target awards as a percentage of Salary for eligible
positions will be attached to this Plan at the beginning of each Plan Year.

VII. INCENTIVE FUND DETERMINATION

     The target incentive fund is the sum of the individual target incentive
awards for all eligible Participants. Once the incentive targets have been
determined by the Committee, a target incentive fund shall be established and
accrued ratably by the Company. The incentive fund and accruals may be adjusted
during the year.

     At the close of each Plan Year, the Company will prepare an analysis
showing the Company's or business unit's performance in relation to each of the
performance measures employed. This will be provided to the Committee for review
and comparison to threshold, target and maximum performance levels. In addition,
any recommendations of the President will be presented at this time. The
Committee will then determine the amount of the target incentive fund earned.

                                     WBI-3
<PAGE>

VIII. INDIVIDUAL AWARD DETERMINATION

     Each individual Participant's award will be based first upon the level of
performance achieved by the Company and secondly based upon the individual's
performance. The criteria applicable for assessing individual performance will
be established at the beginning of each Plan Year. The assessment by the
Committee, after consultation with the President, of achievement relative to the
established criteria, as determined by a percentage from 0 percent to 200
percent, will be applied to the Participant's target incentive award which has
been first adjusted for Company or business unit performance.

IX. PAYMENT OF AWARDS

     Except as provided below or as otherwise determined by the Committee, in
order to receive an award under the Plan, the Participant must remain in the
employment of the Company or business unit for the entire Plan Year. If a
Participant terminates employment with MDU Resources Group, Inc. pursuant to
Section 5.01 of the Company's Bylaws which provides for mandatory retirement for
certain officers on their 65th birthday (or terminates employment with a
subsidiary of the Company pursuant to a similar subsidiary Bylaw provision) and
if the Participant's 65th birthday occurs during the Plan Year, determination of
whether the performance measures have been met will be made at the end of the
Plan Year, and to the extent met, payment of the award will be made to the
Participant, prorated. Proration of awards shall be based upon the number of
full months elapsed from and including January to and including the month in
which the Participant's 65th birthday occurs.

     An individual Participant who transfers between the Company and business
units may receive a prorated award at the discretion of the Committee. Payments
made under this Plan will not be considered part of compensation for pension
purposes. Payments when made will be in cash. Incentive awards may be deferred
if the appropriate elections have been executed prior to the end of the Plan
Year. Deferred amounts will accrue interest at a rate determined annually by the
Committee.

     In the event of a "Change in Control" (as defined by the Committee in its
Rules and Regulations) then any award deferred by each Participant shall become
immediately payable to the Participant in cash, together with accrued interest
thereon to the date of payment. In the

                                     WBI-4
<PAGE>

event the Participant files suit to collect the Participant's deferred award
then all of the court costs, other expenses of litigation, and attorneys' fees
shall be paid by the Company in the event the Participant prevails upon any of
the Participant's claims for payment of a deferred award.

-------------------------

Plan adopted October 15, 1985
Plan amended November 4, 1986
Plan amended July 9, 1996, effective January 1, 1996
Plan amended November 8, 1996, effective January 1, 1997
Plan amended August 5, 1999, effective January 1, 1999
Plan amended November 8, 2001, effective January 1, 2001
Plan amended by Written Consent February 25, 2002, effective January 1, 2002
Plan amended by Written Consent November 17, 2003, effective January 1, 2003
Plan amended by Written Consent August 24, 2004, effective January 1, 2004, per
  Written Consent dated December 29, 2004

                                     WBI-5
<PAGE>

                               WBI HOLDINGS, INC.

                      EXECUTIVE INCENTIVE COMPENSATION PLAN

                              RULES AND REGULATIONS

     The Board of Directors of WBI Holdings, Inc. (formerly known as Williston
Basin Interstate Pipeline Company) (the "Company") hereby amends the Rules and
Regulations for the administration of the Executive Incentive Compensation Plan
(the "Plan") and the Plan first adopted at a Board of Directors meeting of the
Company on October 15, 1985.

I. DEFINITIONS

     The following definitions shall be used for purposes of these Rules and
Regulations and for the purpose of administering the Plan:

     1.   The "Company" shall refer to WBI Holdings, Inc. and any subsidiaries
          participating in the Plan. No member of the Committee shall
          participate in a decision as to the member's own eligibility for, or
          award of, an incentive award payment.

     2.   "Participants" for any Plan Year shall be those executives who have
          been approved by the Compensation Committee as eligible for
          participation in the Plan for such Plan Year.

     3.   "Payment Date" shall be the date set by the Compensation Committee for
          payment of awards, other than those awards deferred pursuant to
          Section IX of the Plan and Section VII of these Rules and Regulations.

     4.   The "Plan" shall refer to the Executive Incentive Compensation Plan.

     5.   The "Plan Year" shall be the calendar year.

     6.   "Change in Control" shall mean the earliest of the following to occur:
          (a) the sale or other disposition of all or substantially all of the
          assets of the Company, other than to a subsidiary of MDU Resources
          Group, Inc. or to a subsidiary of the Company; or (b) the sale or
          other disposition of voting stock of the Company, other than to a
          subsidiary of MDU Resources Group, Inc. or to a subsidiary of the
          Company, such that, immediately following such sale or other
          disposition, MDU Resources Group, Inc. and/or its subsidiaries would
          own less than 50 percent of the outstanding voting stock of the
          Company; or (c) the sale or other disposition of voting stock of the
          Company, other than to a subsidiary of MDU Resources Group, Inc. or to
          a subsidiary of the Company, such that, immediately following such
          sale or other disposition, MDU Resources Group, Inc, and/or its
          subsidiaries

                                     WBI-6
<PAGE>

          would no longer possess the ability to elect a majority of the Board
          of Directors of the Company; or (d) any other event which shall be
          deemed by a majority of the Compensation Committee of the Board of
          Directors of the Company to constitute a "Change in Control" of the
          Company; and provided, further, that the Compensation Committee of the
          Board of Directors of the Company shall have the right to deem any
          event to constitute a "Change in Control" of any particular subsidiary
          of the Company, even if no Change in Control shall have occurred with
          regard to the Company.

     7.   The "Prime Rate" shall be the base rate on corporate loans posted by
          at least 75 percent of the nation's 30 largest banks as reported daily
          in The Wall Street Journal.

     8.   "Retirement" means the later of the day the Participant attains age 55
          or the day the Participant ceases to be an employee of the Company or
          any of its subsidiary corporations.

II.  ADMINISTRATION

     1.   The Chairman of the Board (the "Chairman") shall not participate in
          the Plan. No member of the Committee shall participate in a decision
          as to the member's own eligibility for, or award of, an incentive
          award payment.

     2.   The Compensation Committee shall have the full power to construe and
          interpret the Plan and to establish and to amend these Rules and
          Regulations for its administration.

     3.   Prior to the beginning of each Plan Year, the Compensation Committee
          shall approve a list of eligible officers and notify those so approved
          that they are eligible to participate in the Plan for such Plan Year.

     4.   Prior to the beginning of each Plan Year, the Committee shall approve
          an Annual Operating Plan. The Annual Operating Plan shall include the
          Plan's performance measures, a list of individuals to be included in
          the Plan and the target incentive award levels for each salary grade
          covered by the Plan for the following Plan Year. The Plan's
          performance targets for the year shall be approved by the Committee no
          later than its regularly scheduled February meeting during the Plan
          Year. The Annual Operating Plan, insofar as it is relevant to each
          individual Participant, shall be made available by the President to
          each Participant in the Plan at the beginning of each Plan Year.

     5.   The Compensation Committee shall have final discretion to determine
          actual award payment levels and whether or not payments shall be made
          for any Plan Year. However, unless the Plan's performance objectives
          are met for the Plan Year, no award shall be made for that Plan Year.
          Performance targets modified pursuant to Section II of the Plan will
          be deemed performance targets for purposes of determining whether or
          not the targets have been met.

                                     WBI-7
<PAGE>

III. PLAN PERFORMANCE MEASURES

     1.   The Committee shall establish the percentage attainment of corporate
          performance measure and the percentage attainment of individual goals
          measure. The Committee may establish more or fewer performance
          measures as it deems necessary.

     2.   The corporate performance measure may be set by reference to earnings,
          return on invested capital or any other measure or combination of
          measures deemed appropriate by the Committee. It may be established
          for the Company or for the individual business unit.

     3.   Individual performance will be assessed based on the achievement of
          annually established individual objectives.

     4.   Plan performance measures may be applied at the corporate level for
          individuals such as the Chief Executive Officer whose major or sole
          impact is Company-wide, or at the business unit level for individuals
          whose major or sole impact is on the business unit results. The Annual
          Operating Plan shall contain a list of individuals to whom the Plan
          performance measures will be applied at the corporate level and a list
          of those individuals for whom the Plan performance measures will be
          applied at the business unit level. The relevant business unit for
          each individual will be identified.

     5.   The Committee shall set threshold, target and maximum award levels for
          the performance measures, for each business unit, and for the Company.
          Those levels shall be included in the Annual Operating Plan.

     6.   The Committee will retain the authority to determine whether or not
          the actual attainment of these measures has been made.

IV. TARGET INCENTIVE AWARDS

     1.   Target incentive awards will be a percentage of each Participant's
          Salary, as defined in the Plan.

     2.   Target incentive awards shall be set by the Committee annually and
          will be included in the Annual Operating Plan.

V. INCENTIVE FUND DETERMINATION

     1.   The target incentive fund is the sum of the individual target
          incentive awards for all eligible Participants.

     2.   Once individual incentive targets have been determined, a target
          incentive fund shall be established and accrued ratably by the
          Company. The incentive fund and accruals may be adjusted during the
          year.

                                     WBI-8
<PAGE>

     3.   As soon as practicable following the close of each Plan Year, the
          President will provide the Committee with an analysis showing the
          Company's performance in relation to the performance measures. The
          Committee will review the analysis and determine, in the Committee's
          sole discretion, the amount of the actual incentive fund.

     4.   In determining the actual incentive fund, the Committee may consider
          any recommendations of the President.

VI. INDIVIDUAL AWARD DETERMINATION

     1.   The Compensation Committee shall have the sole discretion to determine
          each individual Participant's award. The Committee's decision will be
          based first upon the level of performance achieved by the Company and
          second upon the individual's performance.

     2.   The Committee, after consultation with the President, shall set the
          award as a percentage from 0 percent to 200 percent of the
          Participant's target incentive award, adjusted for Company
          performance.

VII. PAYMENT OF AWARDS

     1.   On the date the Compensation Committee determines the awards to be
          made to individual Participants, it shall also establish the Payment
          Date.

     2.   Except as provided below or as the Committee otherwise determines, in
          order to receive an award under the Plan, a Participant must remain in
          the employment of MDU Resources Group, Inc., its Utility Division or a
          Subsidiary Company for the entire Plan Year.

     3.   If a Participant terminates employment with the Company pursuant to
          Section 5.01 of the Company's Bylaws which provides for mandatory
          retirement for certain officers on their 65th birthday (or terminates
          employment with a subsidiary of the Company pursuant to a similar
          subsidiary Bylaw provision) and if the Participant's 65th birthday
          occurs during the Plan Year, determination of whether the performance
          measures have been met will be made at the end of the Plan Year, and
          to the extent met, payment of the award will be made to the
          Participant, prorated. Proration of awards shall be based upon the
          number of full months elapsed from and including January to and
          including the month in which the Participant's 65th birthday occurs.

     4.   Payment of the award shall be made in cash. Payments shall be made on
          the Payment Date unless the Participant has deferred, in whole or in
          part, the receipt of the award by making an election on the deferral
          form attached hereto, prior to the end of the Plan Year immediately
          preceding the Payment Date.

     5.   In the event a Participant has elected to defer receipt of all or a
          portion of the award, the Company shall set up an account in the
          Participant's name. The

                                     WBI-9
<PAGE>

          amount of the Participant's award to the extent deferred will be
          credited to the Participant's account on the Payment Date.

     6.   The balance credited to an account of a Participant who has elected to
          defer receipt of an award will be an unsecured, unfunded obligation of
          the Company.

     7.   Interest shall accrue on the balance credited to a Participant's
          account. The rate of interest shall be the Prime Rate plus 1
          percentage point as reported on the last Friday in January of each
          year. Interest on the balance in an account shall accrue at the rate
          so determined from the Payment Date immediately following the
          determination to the Payment Date of the following year.

     8.   Interest shall be credited to the account on the day preceding Payment
          Date and shall be calculated on the balance in the Participant's
          account as of that date.

     9.   A Participant may elect to defer any percentage, not to exceed l00, of
          an annual award.

     10.  A Participant electing to defer any part of an award must elect one of
          the following dates for payment:

          (1)  Payment Date next following termination of employment with the
               Company or an affiliated company; or

          (2)  Payment Date of the fifth year following the year in which the
               award may be made.

     11.  A Participant may elect to receive the deferred amounts accumulated in
          the Participant's account in monthly installments, not to exceed 120.
          In the event the Participant elects to receive the amounts in the
          Participant's account in more than one installment, interest shall
          continue to accrue on the balance remaining in their account at the
          applicable rate determined by the Committee.

     12.  In the event of the death of a Participant in whose name a deferred
          account has been set up, the Company shall, within six months
          thereafter, pay to the Participant's estate or the designated
          beneficiary the entire amount in the deferred account.

     13.  In the event of a "Change in Control" then any award deferred by each
          Participant shall become immediately payable to the Participant. In
          the event the Participant files suit to collect a deferred award then
          all of the Participant's court costs, other expenses of litigation,
          and attorneys' fees shall be paid by the company in the event the
          Participant prevails upon any of the claims for payment.

____________________________________________________
Rules and Regulations adopted October 15, 1985

Rules and Regulations amended September 3, 1987

                                     WBI-10
<PAGE>

Rules and Regulations amended July 31, 1989

Rules and Regulations amended July 9, 1996, effective January 1, 1996

Rules and Regulations adopted November 8, 1996, effective January 1, 1997

Rules and Regulations amended January 30, 1997, effective January 1, 1997

Rules and Regulations amended August 5, 1999, effective January 1, 1999

Rules and Regulations amended November 8, 2001, effective January 1, 2001

Rules and Regulations amended by Written Consent February 25, 2002, effective
January 1, 2002

Rules and Regulations amended by Written Consent November 17, 2003, effective
January 1, 2003

Rules and Regulations amended by Written Consent August 24, 2004, effective
January 1, 2004, per Written Consent dated December 29, 2004

                                     WBI-11

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