Document:

Exhibit 10.1

 

Option No.: SO-      

 

KITE REALTY GROUP TRUST

2013 EQUITY INCENTIVE PLAN

 

NONQUALIFIED SHARE OPTION AGREEMENT

 

Kite Realty Group Trust, a Maryland real estate investment trust (the “Company”), grants an option to purchase common shares of beneficial interest, $.01 par value per share, of the Company (the “Shares”), to the Optionee named below. The terms and conditions of the option are set forth in this cover sheet, in the attached Nonqualified Share Option Agreement (together, the “Agreement”), and in the Company’s 2013 Equity Incentive Plan, as amended from time to time (the “Plan”).

 

Grant Date:

 

Name of Optionee:

 

Number of Shares Covered by Option:

 

Option Price per Share: $          .

 

Vesting Start Date:

 

By signing this cover sheet, you agree to all of the terms and conditions described in the Agreement and in the Plan, a copy of which is also attached. You acknowledge that you have carefully reviewed the Plan, and agree that the Plan will control in the event any provision of this Agreement should appear to be inconsistent.

 

 

	
Optionee:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Company:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Title:   
    	
 
    	
 
    

 

Attachment

 

This is not a share certificate or a negotiable instrument.

 

 

KITE REALTY GROUP TRUST

2013 EQUITY INCENTIVE PLAN

 

NONQUALIFIED SHARE OPTION AGREEMENT

 

	
Nonqualified Share Option
    	
 
    	
This Agreement   evidences the grant of an option exercisable for the number of Shares set   forth on the cover sheet of this Agreement and subject to the vesting and   other terms and conditions set forth in this Agreement and in the Plan. This   option is not intended to be an incentive share option under Section 422   of the Code and will be interpreted accordingly.
    
	
 
    	
 
    	
 
    
	
Vesting
    	
 
    	
This option is   exercisable only before it expires and then only with respect to the vested   portion of the option. Subject to the preceding sentence, you may exercise   this option, in whole or in part, to purchase a whole number of vested Shares   not less than 100 Shares, unless the number of Shares purchased is the total   number available for purchase under the option, by following the procedures   set forth in the Plan and below in this Agreement.  

 

Except as   otherwise provided in any employment agreement between you and the Company,   your right to purchase Shares under this option vests as follows:   [          ]. The resulting   aggregate number of vested Shares will be rounded to the nearest whole   number, and you cannot vest in more than the number of Shares covered by this   option.  

 

No additional   Shares will vest after your Service has terminated for any reason.
    
	
 
    	
 
    	
 
    
	
Term
    	
 
    	
Your option will   expire in any event at the close of business at Company headquarters on the   day before the tenth anniversary of the Grant Date, as shown on the cover   sheet. Your option will expire earlier if your Service terminates, as   described below.
    
	
 
    	
 
    	
 
    
	
Regular   Termination
    	
 
    	
If your Service   terminates for any reason other than death, Disability or Cause, then your   option expires at the close of business at Company headquarters on the 90th   day after your termination date.
    
	
 
    	
 
    	
 
    
	
Termination   for Cause
    	
 
    	
If your Service is   terminated for Cause, then you immediately forfeit all rights to your option   and the option immediately expires.
    
	
 
    	
 
    	
 
    
	
Death
    	
 
    	
If your Service   terminates because of your death, then your option will become fully vested   and will expire at the close of business at Company headquarters on the date   12 months after the date of death. During that 12-month period, your estate   or heirs may exercise your option.  

 

In addition, if   you die during the 90-day period described in connection with a regular   termination (i.e., a termination of your Service not on account of your   death, Disability or Cause), and the vested portion of your option has not   yet been exercised, then your option will instead expire on the date 12 months   after your termination date. In such a case, during the period following your   death up to the date 12 months after your termination date, your estate or   heirs may exercise the vested portion of your option.
    

 

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Disability
    	
 
    	
If your Service   terminates because of your Disability, then your option will become fully   vested and will expire at the close of business at Company headquarters on   the date 12 months after your termination date.
    
	
 
    	
 
    	
 
    
	
Leaves   of Absence
    	
 
    	
For purposes of   this option, your Service does not terminate when you go on a bona fide employee leave of absence that was approved by   the Company in writing, if the terms of the leave provide for continued   Service crediting, or when continued Service crediting is required by   applicable law. However, your Service will be treated as terminating 90 days   after you went on employee leave, unless your right to return to active work   is guaranteed by law or by a contract. Your Service terminates in any event   when the approved leave ends unless you immediately return to active employee   work.  

 

The Company   determines, in its sole discretion, which leaves count for this purpose, and   when your Service terminates for all purposes under the Plan.
    
	
 
    	
 
    	
 
    
	
Notice   of Exercise
    	
 
    	
When you wish to   exercise this option, you must notify the Company by filing the proper   “Notice of Exercise” form at the address given on the form. Your notice must   specify how many Shares you wish to purchase (in a parcel of at least 100   Shares generally). Your notice must also specify how your Shares should be   registered (in your name only or in your and your spouse’s names as joint   tenants with right of survivorship). The notice will be effective when it is   received by the Company.  If someone else wants to exercise this   option after your death, that person must prove to the Company’s satisfaction   that he or she is entitled to do so.
    
	
 
    	
 
    	
 
    
	
Form of   Payment
    	
 
    	
When you submit   your notice of exercise, you must include payment of the option price for the   Shares you are purchasing. Payment may be made in one (or a combination) of   the following forms:

 

 ·     Cash,   your personal check, a cashier’s check, a money order or another cash   equivalent acceptable to the Company.

 

 ·     Shares   that you already own and that you surrender to the Company. The Fair Market   Value of the Shares, determined as of the effective date of the option   exercise, will be applied to the option price.

 

 ·     By   delivery (on a form prescribed by the Company) of an irrevocable direction to   a licensed securities broker acceptable to the Company to sell Shares and to   deliver all or part of the sale proceeds to the Company in payment of the   aggregate option price and any withholding taxes (if approved in advance by   the Committee if you are either an executive officer or a trustee of the   Company).
    
	
 
    	
 
    	
 
    
	
Withholding   Taxes
    	
 
    	
You will not be   allowed to exercise this option unless you make acceptable arrangements to   pay any withholding or other taxes that may be due as a result of the option   exercise or sale of Shares acquired under this option. In the event that the   Company determines that any federal, state, local or foreign tax or   withholding payment is required relating to the exercise or sale of Shares   purchased upon exercise of this option, the Company will have the right to   require such payments from you, or withhold such amounts from other payments   due to you from the Company or any Affiliate. To satisfy this withholding   obligation, the Company may provide you with 
    

 

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the opportunity,   in its sole discretion, to have the Company withhold Shares otherwise   issuable to you or by delivering to the Company Shares already owned by you.   If the Company provides you with the foregoing opportunity and you fail to   make avail yourself of the opportunity, the Company may determine what method   to use, including by withholding Shares otherwise issuable to you. The Shares   so withheld must have an aggregate Fair Market Value not exceeding the   minimum amount of tax required to be withheld by applicable law.
    
	
 
    	
 
    	
 
    
	
Evidence   of Issuance
    	
 
    	
The issuance of the Shares   upon exercise of this option will be evidenced in such a manner as the   Company, in its discretion, deems appropriate, including, without limitation,   book entry, registration or issuance of one or more share certificates.
    
	
 
    	
 
    	
 
    
	
Transfer   of Option
    	
 
    	
During your   lifetime, only you (or, in the event of your legal incapacity or   incompetency, your guardian or legal representative) may exercise the option.   You cannot transfer or assign this option. For instance, you may not sell   this option or use it as security for a loan. If you attempt to do any of   these things, this option will immediately become invalid. You may, however,   dispose of this option in your will or it may be transferred upon your death   by the laws of descent and distribution.  

 

Regardless of any   marital property settlement agreement, the Company is not obligated to honor   a notice of exercise from your spouse, nor is the Company obligated to   recognize your spouse’s interest in your option in any other way.
    
	
 
    	
 
    	
 
    
	
Retention   Rights
    	
 
    	
Neither your   option nor this Agreement gives you the right to be retained by the Company   or an Affiliate in any capacity. The Company and its Affiliates reserve the   right to terminate your Service at any time and for any reason.
    
	
 
    	
 
    	
 
    
	
Shareholder   Rights
    	
 
    	
You, or your   estate or heirs, have no rights as a shareholder of the Company until a   certificate for your option’s Shares has been issued (or an appropriate book   entry has been made). No adjustments are made for dividends or other rights   if the applicable record date occurs before your share certificate is issued   (or an appropriate book entry has been made), except as described in the   Plan.
    
	
 
    	
 
    	
 
    
	
Adjustments
    	
 
    	
In the event of a   split, a dividend or a similar change in the Shares, the number of Shares   covered by this option and the option price per Share will be adjusted (and   rounded down to the nearest whole number) if required pursuant to the Plan.  

 

Your option will   be subject to the terms of the agreement of merger, liquidation or   reorganization in the event the Company is subject to such corporate   activity.
    
	
 
    	
 
    	
 
    
	
Applicable   Law
    	
 
    	
This Agreement   will be interpreted and enforced under the laws of the State of Maryland,   other than any conflicts or choice of law rule or principle that might   otherwise refer construction or interpretation of this Agreement to the   substantive law of another jurisdiction.
    
	
 
    	
 
    	
 
    
	
The   Plan
    	
 
    	
The text of the   Plan is incorporated in this Agreement by reference. Certain capitalized terms   used in this Agreement are defined in the Plan, and have the meaning set   forth in the Plan.  

 

This Agreement and   the Plan constitute the entire understanding between you and the Company   regarding this option. Any prior agreements, commitments or negotiations 
    

 

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concerning this   option are superseded.
    
	
 
    	
 
    	
 
    
	
Data   Privacy
    	
 
    	
In order to   administer the Plan, the Company may process personal data about you. Such   data includes but is not limited to the information provided in this   Agreement and any changes thereto, other appropriate personal and financial   data about you such as home address and business addresses and other contact   information, payroll information and any other information that might be   deemed appropriate by the Company to facilitate the administration of the   Plan.  

 

By accepting this   option, you give explicit consent to the Company to process any such personal   data. You also give explicit consent to the Company to transfer any such   personal data outside the country in which you work or are employed,   including, with respect to non-U.S. resident Optionees, to the United States,   to transferees who will include the Company and other persons who are   designated by the Company to administer the Plan.
    
	
 
    	
 
    	
 
    
	
Code   Section 409A
    	
 
    	
The option grant   under this Agreement is intended to be exempt from, or to comply with, Code   Section 409A to the extent subject thereto, and, accordingly, to the   maximum extent permitted, this Agreement will be interpreted and administered   to be in compliance with Code Section 409A. Notwithstanding anything to   the contrary in the Plan or this Agreement, neither the Company, its   Affiliates, the Board nor the Committee will have any obligation to take any   action to prevent the assessment of any excise tax or penalty on you under   Code Section 409A and neither the Company, its Affiliates, the Board nor   the Committee will have any liability to you for such tax or penalty.
    
	
 
    	
 
    	
 
    
	
Consent   to Electronic Delivery
    	
 
    	
The Company may   choose to deliver certain statutory materials relating to the Plan in   electronic form. By accepting this option grant you agree that the Company   may deliver the Plan prospectus and the Company’s annual report to you in an   electronic format. If at any time you would prefer to receive paper copies of   these documents, as you are entitled to, the Company would be pleased to   provide copies. Please contact Daniel R. Sink at (317) 577-5600 to request   paper copies of these documents.
    

 

By signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the Plan.

 

5Exhibit 10.2

 

Grant No.:           

 

KITE REALTY GROUP TRUST

2013 EQUITY INCENTIVE PLAN

 

RESTRICTED SHARE AGREEMENT

 

Kite Realty Group Trust, a Maryland real estate investment trust (the “Company”), grants common shares of beneficial interest, $.01 par value per share, of the Company (the “Shares”), to the Grantee named below, subject to the vesting conditions set forth in the attached Restricted Share Agreement. Additional terms and conditions of the grant are set forth in this cover sheet, in the attached Restricted Share Agreement (together, the “Agreement”), and in the Company’s 2013 Equity Incentive Plan, as amended from time to time (the “Plan”).

 

Grant Date:

 

Name of Grantee:

 

Number of Shares Covered by Grant:

 

Purchase Price per Share: $          .

 

By signing this cover sheet, you agree to all of the terms and conditions described in the Agreement and in the Plan, a copy of which is also attached. You acknowledge that you have carefully reviewed the Plan, and agree that the Plan will control in the event any provision of this Agreement should appear to be inconsistent.

 

 

	
Grantee:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Company:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Title:  
    	
 
    	
 
    

 

Attachments

 

This is not a share certificate or a negotiable instrument.

 

 

KITE REALTY GROUP TRUST

2013 EQUITY INCENTIVE PLAN

 

RESTRICTED SHARE AGREEMENT

 

	
Restricted   Shares
    	
 
    	
This   Agreement evidences an award of the number of Shares set forth on the cover   sheet, at the Purchase Price set forth on the cover sheet, and subject to the   vesting conditions described below (“Restricted Shares”). The purchase price   for the Restricted Shares is deemed paid by your services to the Company.
    
	
 
    	
 
    	
 
    
	
Nontransferability   of Unvested Restricted Shares
    	
 
    	
To   the extent not yet vested, your Restricted Shares may not be transferred, assigned,   pledged or hypothecated, whether by operation of law or otherwise, nor may   the Restricted Shares be made subject to execution, attachment or similar   process.
    
	
 
    	
 
    	
 
    
	
Issuance   and Vesting
    	
 
    	
The   Company will issue your Restricted Shares in your name as of the Grant Date. 

 

Your   right to the Shares under this Restricted Share Agreement grant vests as to   the total number of Shares covered by this grant, as shown on the cover   sheet, as follows: [        ]. If,   however, you are restricted from selling Shares on any vesting date pursuant   to the Company’s policy on insider trading, your Shares that would have   vested on that vesting date will vest on the first date that is during a   window period in which Company insiders are not restricted from selling   Shares, provided you then continue in Service. 

 

Your   right to the Shares under this Agreement will become fully vested on your   termination of Service due to death or Disability. No additional Restricted   Shares will vest after your Service has terminated for any reason.
    
	
 
    	
 
    	
 
    
	
Forfeiture   of Unvested Shares
    	
 
    	
In   the event that your Service terminates for any reason other than death or   Disability, you will forfeit to the Company all of the Restricted Shares that   have not yet vested.
    
	
 
    	
 
    	
 
    
	
Evidence   of Issuance
    	
 
    	
The   issuance of the Shares upon the grant of Restricted Shares pursuant to this   Agreement will be evidenced in such a manner as the Company, in its   discretion, deems appropriate, including, without limitation, book entry,   registration or issuance of one or more share certificates, with any unvested   Restricted Shares bearing the appropriate restrictions imposed by this   Agreement. As your interest in the Restricted Shares vests, the recordation   of the number of Restricted Shares attributable to you will be appropriately   modified if necessary. 

 

Each   issuance of shares (whether by book entry, registration or issuance of share   certificates) will be accompanied by a duly executed Assignment Separate from   Certificate in the form attached as Exhibit A to this Agreement.
    
	
 
    	
 
    	
 
    
	
Withholding   Taxes
    	
 
    	
You   agree, as a condition of this grant, that you will make acceptable   arrangements to pay any withholding or other taxes that may be due as a   result of the vesting of Shares acquired under this grant. In the event that   the 
    

 

2

 

	
 
    	
 
    	
Company   determines that any federal, state, local or foreign tax or withholding   payment is required relating to the vesting of Shares arising from this   grant, the Company will have the right to (i) require you to tender a   cash payment, (ii) deduct from payments of any kind otherwise due to   you, (iii) permit or require you to enter into a “same day sale”   commitment with a broker-dealer that is a member of the Financial Industry   Regulation Authority (a “FINRA Dealer”) whereby you irrevocably elect to sell   a portion of the Shares to be vested in connection with this grant to satisfy   withholding obligations and whereby the FINRA Dealer irrevocably commits to   forward the proceeds necessary to satisfy the withholding obligations   directly to the Company or an Affiliate, or (iv) require you to deliver   to the Company Shares already owned by you to meet such obligations; provided   that the Shares delivered must have an aggregate Fair Market Value equal to   the withholding obligation and may not be subject to any repurchase,   forfeiture, unfulfilled vesting, or other similar requirements.
    
	
 
    	
 
    	
 
    
	
Section 83(b)  Election
    	
 
    	
Under   Code Section 83, the difference between the purchase price paid for the   Shares and their fair market value on the date any forfeiture restrictions   applicable to such Shares lapse will be reportable as ordinary income at that   time. For this purpose, “forfeiture restrictions” include the forfeiture of   unvested Shares that is described above. You may elect to be taxed at the   time the Shares are acquired, rather than when such Shares cease to be   subject to such forfeiture restrictions, by filing an election under Code   Section 83(b) with the Internal Revenue Service within 30 days   after the Grant Date. You will have to make a tax payment to the extent the   Purchase Price is less than the fair market value of the Shares on the Grant   Date. No tax payment will have to be made to the extent the Purchase Price is   at least equal to the fair market value of the shares on the Grant Date. The   form for making this election is attached as Exhibit B to this   Agreement. Failure to make this filing within the 30 day period will result   in the recognition of ordinary income by you (in the event the fair market   value of the shares as of the vesting date exceeds the purchase price) as the   forfeiture restrictions lapse. 

 

YOU   ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY, AND NOT THE COMPANY’S, TO   FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF YOU REQUEST THE   COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON YOUR BEHALF. YOU ARE   RELYING SOLELY ON YOUR OWN ADVISORS WITH RESPECT TO THE DECISION AS TO   WHETHER OR NOT TO FILE ANY CODE SECTION 83(b) ELECTION.
    
	
 
    	
 
    	
 
    
	
Retention   Rights
    	
 
    	
This   Agreement does not give you the right to be retained by the Company or an   Affiliate in any capacity. The Company and its Affiliates reserve the right   to terminate your Service at any time and for any reason.
    
	
 
    	
 
    	
 
    
	
Shareholder   Rights
    	
 
    	
You   have the right to vote the Restricted Shares and to receive any dividends   declared or paid on such Shares. Any distributions you receive as a result of   any split, dividend, combination of Shares or other similar transaction will   be deemed to be a part of the Restricted Shares and subject to the same   conditions and restrictions applicable thereto. Except as described in the   Plan, no adjustments are made for dividends or other rights if the applicable   record 
    

 

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date   occurs before an appropriate book entry is made (or your share certificate is   issued). The Company may in its sole discretion require any dividends paid on   unvested Shares to be reinvested in Shares, which the Company may in its sole   discretion deem to be a part of the Restricted Shares and subject to the same   conditions and restrictions applicable to the Restricted Shares.
    
	
 
    	
 
    	
 
    
	
Adjustments
    	
 
    	
In   the event of a split, a dividend or a similar change in the Shares, the   number of Shares covered by this grant may be adjusted (and rounded down to   the nearest whole number) pursuant to the Plan. 

 

Your   Restricted Shares will be subject to the terms of the agreement of merger,   liquidation or reorganization in the event the Company is subject to such   corporate activity.
    
	
 
    	
 
    	
 
    
	
Legends
    	
 
    	
If   and to the extent that the Shares are represented by certificates rather than   book entry, all certificates representing the Shares issued in connection   with this grant will, where applicable, have endorsed thereon the following   legends: 

 

“THE   SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON   TRANSFER SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED   HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON   FILE AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN   REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES   REPRESENTED BY THIS CERTIFICATE.” 

 

To   the extent the Shares are represented by a book entry, such book entry will   contain an appropriate legend or restriction similar to the foregoing.
    
	
 
    	
 
    	
 
    
	
Applicable   Law
    	
 
    	
This   Agreement will be interpreted and enforced under the laws of the State of   Maryland, other than any conflicts or choice of law rule or principle   that might otherwise refer construction or interpretation of this Agreement   to the substantive law of another jurisdiction.
    
	
 
    	
 
    	
 
    
	
The   Plan
    	
 
    	
The   text of the Plan is incorporated in this Agreement by reference. Certain   capitalized terms used in this Agreement are defined in the Plan, and have   the meaning set forth in the Plan.

 

This   Agreement and the Plan constitute the entire understanding between you and   the Company regarding this grant of Restricted Shares. Any prior agreements,   commitments or negotiations concerning this grant are superseded.
    
	
 
    	
 
    	
 
    
	
Data   Privacy
    	
 
    	
In   order to administer the Plan, the Company may process personal data about   you. Such data includes, but is not limited to, the information provided in   this Agreement and any changes thereto, other appropriate personal and   financial data about you such as home address and business addresses and   other contact information, payroll information and any other information that   might be deemed appropriate by the Company to facilitate the administration   of the 
    

 

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Plan.   

 

By   accepting this grant, you give explicit consent to the Company to process any   such personal data. You also give explicit consent to the Company to transfer   any such personal data outside the country in which you work or are employed,   including, with respect to non-U.S. resident Grantees, to the United States,   to transferees who will include the Company and other persons who are   designated by the Company to administer the Plan.
    
	
 
    	
 
    	
 
    
	
Code   Section 409A
    	
 
    	
The   grant of Restricted Shares under this Agreement is intended to be exempt   from, or to comply with, Code Section 409A to the extent subject   thereto, and, accordingly, to the maximum extent permitted, this Agreement   will be interpreted and administered to be in compliance with Code   Section 409A. Notwithstanding anything to the contrary in the Plan or   this Agreement, neither the Company, its Affiliates, the Board nor the   Committee will have any obligation to take any action to prevent the   assessment of any excise tax or penalty on you under Code Section 409A   and neither the Company, its Affiliates, the Board nor the Committee will   have any liability to you for such tax or penalty.
    
	
 
    	
 
    	
 
    
	
Consent   to Electronic Delivery
    	
 
    	
The   Company may choose to deliver certain statutory materials relating to the   Plan in electronic form. By accepting this grant, you agree that the Company   may deliver the Plan prospectus and the Company’s annual report to you in an   electronic format. If at any time you would prefer to receive paper copies of   these documents, as you are entitled to, the Company would be pleased to   provide copies. Please contact [Daniel R. Sink at (317) 577-5600] to request   paper copies of these documents.
    

 

By signing the cover sheet of this Agreement, you agree to all of the terms and
 conditions described above and in the Plan.

 

5

 

EXHIBIT A

 

ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED,                            sells, assigns and transfers to Kite Realty Group Trust, a Maryland real estate investment trust (the “Company”),                          (                    ) common shares of beneficial interest of the Company represented by Certificate No.        and does hereby irrevocable constitute and appoint                              to transfer the said shares on the books of the Company with full power of substitution in the premises.

 

	
Dated:                        ,   201
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    

 

Spouse Consent (if applicable)

 

(Purchaser’s spouse) indicates by the execution of this Assignment his or her consent to be bound by the terms herein as to his or her interests, whether as community property or otherwise, if any, in the common shares of beneficial interest of the Company.

 

 

	
 
    	
 
    
	
 
    	
Signature
    

 

INSTRUCTIONS:  PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE.  THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO CAUSE THE FORFEITURE OF YOUR UNVESTED SHARES AS SET FORTH IN THE AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF PURCHASER.

 

6

 

EXHIBIT B

 

ELECTION UNDER SECTION 83(b) OF
 THE INTERNAL REVENUE CODE

 

The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code with respect to the property described below and supplies the following information in accordance with the regulations promulgated thereunder:

 

1.                                      The name, address and social security number of the undersigned:

 

Name:

 

Address:

 

 

Social Security No. :

 

2.                                      Description of property with respect to which the election is being made:

 

common shares of beneficial interest, par value $.01 per share, of Kite Realty Group Trust, a Maryland real estate investment trust (the “Company”).

 

3.                                      The date on which the property was transferred is                              , 201    .

 

4.                                      The taxable year to which this election relates is calendar year 201    .

 

5.                                      Nature of restrictions to which the property is subject:

 

The common shares of beneficial interest are subject to the provisions of a Restricted Share Agreement between the undersigned and the Company. The shares are subject to forfeiture under the terms of the Agreement.

 

6.                                      The fair market value of the property at the time of transfer (determined without regard to any lapse restriction) was $                     per share, for a total of $                    .

 

7.                                      The amount paid by taxpayer for the property was $                    .

 

8.                                      A copy of this statement has been furnished to the Company.

 

	
Dated:                             ,   201
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Taxpayer’s   Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Taxpayer’s   Printed Name
    

 

7

 

PROCEDURES FOR MAKING ELECTION

UNDER SECTION 83(b) OF THE INTERNAL REVENUE CODE

 

The following procedures must be followed with respect to the attached form for making an election under Section 83(b) of the Internal Revenue Code in order for the election to be effective:(1)

 

1.         You must file one copy of the completed election form with the IRS Service Center where you file your federal income tax returns within 30 days after the Grant Date of your Restricted Shares.

 

2.         At the same time you file the election form with the IRS, you must also give a copy of the election form to the Secretary of the Company.

 

3.         You must file another copy of the election form with your federal income tax return (generally, Form 1040) for the taxable year in which the shares are transferred to you.

 

(1)           Whether or not to make the election is your decision and may create tax consequences for you. You are advised to consult your tax advisor if you are unsure whether or not to make the election.

 

8

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