Document:

exv10wawxx

Exhibit 10(a)(xx)

COUSINS PROPERTIES INCORPORATED

2005 Restricted Stock Unit Plan

Restricted Stock Unit Certificate for 2010-2012 Performance Period

     This Restricted Stock Unit Certificate evidences that on February ___, 2010 (“Grant Date”) the
key employee named below (“Key Employee”) was awarded an opportunity to receive restricted stock
units (“RSUs”) pursuant to the Cousins Properties Incorporated (“CPI”) 2005 Restricted Stock Unit
Plan (the “Plan”). The number of RSUs actually payable under this Certificate depends on the
extent to which CPI attains each of two separate performance goals for the Performance Period and
whether the service vesting condition is met, all as described in more detail in this Certificate.
The definitions set forth in the Plan are incorporated in this Certificate, and these RSUs are
subject to all of the terms and conditions set forth in the Plan (to the extent such terms are not
inconsistent with the terms in the Certificate) and in this Certificate.

Terms and Conditions

	1.	 	Name of Key Employee:                                                             .
	 
	2.	 	Target Number of RSUs. Key Employee’s target number of RSUs payable based on CPI’s
attainment of the performance goals set forth on Exhibit A (“Exhibit A RSUs”) is ___. Key
Employee’s target number RSUs payable based on CPI’s attainment of the performance goals set
forth on Exhibit B (“Exhibit B RSUs) is ___. Key Employee will be paid based on a percentage
of the target number (ranging from 0% to 200%) as set forth on Exhibit A and/or Exhibit B,
whichever is applicable.
	 
	3.	 	Performance Period. The Performance Period is January 1, 2010 through December 31,
2012.
	 
	4.	 	Service Vesting Condition and Forfeiture. Except as set forth in § 8 of the Plan if
a Change in Control is consummated or as set forth in this § 4, Key Employee will vest in the
RSUs only if Key Employee remains continuously employed by CPI through the third anniversary
of the Grant Date. A transfer between or among CPI or any Subsidiary, Parent or Affiliate of
CPI shall not be treated as a termination of employment with CPI. If Key Employee’s
employment is terminated for any reason except Retirement or death before the third
anniversary of the Grant Date, Key Employee shall automatically forfeit the RSUs in full
regardless of whether the performance goals on Exhibit A and/or Exhibit B are met. If Key
Employee’s employment terminates due to Retirement or death, Key Employee will be deemed to
have satisfied this service vesting condition but not the performance goals set forth on
Exhibit A and Exhibit B. For this purpose, “Retirement” shall mean Key Employee’s termination
of employment with CPI on or after the date (a) Key Employee has attained age 60 and (b) Key
Employee’s age (in whole years) plus Key Employee’s whole years of employment

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	 	 	measured since Key Employee’s most recent date of hire (disregarding any partial year of
employment) equal at least 65.

	5.	 	Cash Dividends. If Key Employee becomes entitled to a payment for vested RSUs under
§ 6 and a cash dividend (whether ordinary or extraordinary) has been paid on a share of Stock
during the Performance Period, CPI shall pay Key Employee a dividend equivalent payment. The
dividend equivalent payment will equal (a) the total amount of cash dividends that would have
been paid to Key Employee if the vested RSUs payable under § 6 were actually shares of Stock
held by Key Employee during the Performance Period plus (b) any additional cash dividends that
would have been payable during the Performance Period if the cash dividends described in §
5(a) were reinvested in Stock for the remainder of the Performance Period. Any amounts
payable under this § 5 shall be made at the same time and in the same manner as the payment
under § 6.
	 
	6.	 	Distribution of Payment Represented by RSUs. As soon as practical after the end of
the Performance Period, the Committee will determine the extent to which the performance goals
and the service vesting condition have been met and the number of vested RSUs payable under
this § 6 to Key Employee. The number of vested RSUs shall equal the sum of the Exhibit A RSUs
payable pursuant to Exhibit A plus the Exhibit B RSUs payable pursuant to Exhibit B. Payment
of vested RSUs shall be made in a single payment in cash to Key Employee (or if Key Employee
dies after the RSUs vest and before payment is made, his Beneficiary) as soon as practical
(and no later than 90 days) after the last day of the Performance Period; provided the service
vesting condition is met. Any fractional RSUs shall be rounded down. The value of each RSU
for purposes of determining the cash payment is equal to the Fair Market Value of one share of
Stock on December 31, 2012. Although set forth in more detail in the Plan, Fair Market Value
generally means the average of the closing price of a share of Stock on each trading day
during the 30 day period ending on the applicable valuation date. Any portion of the RSUs
that is not payable because the performance goals are not met shall automatically be forfeited
as of December 31, 2012 or, if earlier, the date Key Employee’s employment terminates for
reasons other than Retirement or death.
	 
	7.	 	Withholding. CPI shall have the right to take whatever action the Committee directs
to satisfy applicable federal, state and other withholding requirements.
	 
	8.	 	Nontransferability and Status as Unsecured Creditor. Key Employee shall have no
right to transfer or otherwise assign Key Employee’s interest in any opportunity to receive
RSUs or the RSUs themselves. All payments pursuant to this Certificate shall be made from the
general assets of CPI, and any claim for payment shall be the same as a claim of any general
and unsecured creditor of CPI.

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	9.	 	Employment and Termination. Nothing in this Certificate shall give Key Employee the
right to continue in employment with CPI or limit the right of CPI to terminate Key Employee’s
employment with or without cause at any time.
	 
	10.	 	No Shareholder Rights. Key Employee shall have no rights as a shareholder of CPI as
a result of any opportunity or any payment arising under this Certificate.
	 
	11.	 	Amendment and Termination. The Plan and this Certificate may be modified and/or
terminated as set forth in the Plan.
	 
	12.	 	Miscellaneous. This Certificate shall be governed by the laws of the State of
Georgia.
	 
	13.	 	Coordination with Plan. During the Performance Period, the RSUs subject to this
Certificate shall be treated the same as (a) outstanding Restricted Stock Units solely for
purposes of the adjustment provisions in § 7 of the Plan and (b) outstanding Awards solely for
purposes of the change in control provisions in § 8 of the Plan and the amendment provisions
in § 9 of the Plan.
	 
	14.	 	Change in Control. For purposes of § 8 of the Plan, the target for the performance
goals (as used in such section) shall mean the performance goal that results in 100% of the
target number of RSUs being payable under § 6.
	 
	15.	 	Short-Term Deferral. Any payments under this Certificate are intended to comply with
the short-term deferral rule set forth in Treasury Regulation §1.409A-(b)(4), and this
Certificate shall be interpreted to effect such intent.

	 	 	 	 	 
	 	Cousins Properties Incorporated

 	 
	 	By: 	 	 
	 	 	Name: 	 	 
	 	 	 	 
	 

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EXHIBIT A

If the Ratio equals 6.25:1 or higher, no Exhibit A RSUs are payable under § 6.

If the Ratio equals 5.5:1, the actual number of Exhibit A RSUs payable under § 6 will equal 100% of
the target number of such RSUs.

If the Ratio equals 4.5:1 or lower, the actual number of Exhibit A RSUs payable under § 6 will
equal 200% of the target number of such RSUs.

If the Ratio falls between 4.5:1 and 5.5:1 or between 5.5:1 and 6.25:1 (but not at the 4.5:1,
5.5:1, or 6.25:1 levels), the actual number of Exhibit A RSUs payable under § 6 will be
mathematically interpolated by the Committee, but in no event will the number exceed 200% of the
target number of such RSUs.

Notwithstanding the foregoing, the Committee may at any time in its sole discretion remove or lower
the performance goals described in this Exhibit A.

For purposes of this Exhibit A, the following definitions will apply:

(a) “Cash Equivalents” shall have the meaning as set forth in the Credit Facility (as defined
below).

(b) “Combined Parties” shall have the meaning as set forth in the Credit Facility (as defined
below).

(c) “Credit Facility” shall mean that certain Amended and Restated Credit Agreement, dated as of
August 29, 2007, among CPI, as the Principal Borrower, certain consolidated entities of CPI, Bank
of America, NA, as Administrative Agent, and the other lenders a party thereto, as amended from
time to time.

(d) “Total Debt” shall have the meaning as set forth in the Credit Facility but shall be reduced by
the amount of cash and Cash Equivalents held by CPI and the Combined Parties, as reasonably
determined by the Committee or its delegate.

(e) “Consolidated EBITDA” shall have the meaning set forth in the Credit Facility, as reasonably
determined by the Committee or its delegate.

(f) “Ratio” shall mean the ratio of Total Debt to the trailing 12-month Consolidated EBITDA, as
determined on the last business day of the Performance Period; provided, however,
both Total Debt and Consolidated EBITDA shall be adjusted to eliminate any increase in the Ratio to
the extent such increase is attributable to any new investments or assets acquired after the
beginning of the Performance Period, as reasonably determined by the Committee or its delegate.

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EXHIBIT B

If TSR is at or below the 35th percentile when compared to the total shareholder return
for the Performance Period (as reasonably determined by the Committee or its delegate) of each of
the Companies, no Exhibit B RSUs are payable under § 6.

If TSR is at the 50th percentile when compared to the total shareholder return for the
Performance Period (as reasonably determined by the Committee or its delegate) of each of the
Companies, the actual number of Exhibit B RSUs payable under § 6 will equal 100% of the target
number of such RSUs.

If TSR is at or above the 75th percentile when compared to the total shareholder return
for the Performance Period (as reasonably determined by the Committee or its delegate) of each of
the Companies, the actual number of Exhibit B RSUs payable under § 6 will equal 200% of the target
number of such RSUs.

If TSR falls between the 35th and 50% percentiles or between the 50% and 75th
percentiles when compared to the total shareholder return for the Performance Period of each of the
Companies, but not at the 35th, 50th, or 75th percentile levels, the actual number of
Exhibit B RSUs payable under § 6 will be mathematically interpolated by the Committee, but in no
event will the number exceed 200% of the target number of such RSUs.

In determining total shareholder return of each of the Companies, the Committee (or its delegate)
will use the same methodology used to compute TSR to the extent practical.

Notwithstanding the foregoing, the Committee may at any time in its sole discretion remove or lower
the performance goals described in this Exhibit B.

For purposes of this Exhibit B, the following definitions shall apply:

(a) “Companies” shall mean all companies represented in the RMZ on January 1, 2010 (other than CPI)
which remain publicly traded on an established exchange for the entire Performance Period.

(b) “RMZ” shall mean the MSCI US REIT Index.

(c) “TSR” shall mean total shareholder return on a share of Stock for the Performance Period
(generally appreciation in the Fair Market Value of a share of Stock plus dividends treated as
reinvested in Stock), as reasonably determined by the Committee or its delegate.

5exv10wawxxi

Exhibit 10(a)(xxi)

COUSINS PROPERTIES INCORPORATED

KEY EMPLOYEE

NON-INCENTIVE STOCK OPTION

OPTION CERTIFICATE

THIS OPTION CERTIFICATE evidences that a stock option (“Option”) has been granted under the Cousins
Properties Incorporated 2009 Incentive Stock Plan, as amended (“Plan”), to Key Employee as of the
Award Date for the purchase of the Awarded Number of Shares of Stock at the Option Price per share,
all as defined below and all subject to the terms and conditions set forth in § 1 through § 11 of
Exhibit A of this Option Certificate.

	 	 	 
	“Key Employee”:

	 	<<Name>>
	 
	 	 
	“Award Date”:

	 	<<Date>>
	 
	 	 
	“Awarded Number of Shares of Stock”:

	 	<<Shares >>
	 
	 	 
	“Option Price per Share”:

	 	<<Dollar >>
	 
	 	 
	“Vesting Period”

	 	<<Vesting Period>>

	 	 	 	 	 
	 	COUSINS PROPERTIES INCORPORATED

 	 
	 	BY:  	 
 	 
	 	 	TITLE:  Senior Vice President/General Counsel 	 
	 	 	             and Corporate Secretary 	 

 

 

	 	 	 	 	 

OPTION CERTIFICATE

EXHIBIT A

     § 1. Plan. The Option is subject to all the terms and conditions set forth in the
Plan for a Non-ISO, and all of the capitalized terms not otherwise defined in this Option
Certificate shall have the same meaning in this Option Certificate as in the Plan. If a
determination is made that any term or condition in this Option Certificate is inconsistent with
the Plan, the Plan shall control. A copy of the Plan will be made available to Key Employee upon
written request to the Corporate Secretary of CPI.

     § 2. Status as Non-ISO. CPI intends that the Option not qualify for any special income
tax benefits under § 422 of the Code. Therefore, CPI intends that the exercise of the Option
constitute a taxable event to Key Employee for federal income tax purposes and that CPI receive an
income tax deduction for federal income tax purposes for the amount that Key Employee includes in
income.

     § 3. Accrual of Exercise Right. The right to exercise the Option granted by this
Option Certificate shall (subject to the special rules in § 5) accrue and become exercisable in
equal increments on each annual anniversary of the Award Date over the Vesting Period so long as
Key Employee remains continuously in the employ of “Cousins” through such anniversary date, where
for purposes of this Option Certificate the term “Cousins” means either CPI, or a Parent, or a
Subsidiary, or an Affiliate of CPI or any combinations of such organizations. The aggregate number
of shares of Stock subject to exercise on any date shall equal the excess, if any, of the number of
whole shares of Stock as to which the right to exercise then has accrued over the number of whole
shares of Stock for which the Option has been exercised. The Option may be exercised in whole or
in part at any time with respect to whole shares of Stock as to

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which the exercise right has accrued as of that time; provided, however, that the Option may
not be exercised for fewer than twenty-five (25) shares of Stock unless the total number of shares
of Stock which can be purchased under the Option at the time of such exercise is fewer than
twenty-five (25), in which event the Option shall be exercised for the total number of such shares.

     § 4. Life of Option. The Option shall expire when exercised in full; provided,
however, the Option shall expire, to the extent not exercised in full, on the date which is the
tenth anniversary of Award Date, or, if earlier, on the date provided under § 5 of this Option
Certificate.

     § 5. Special Rules.

          (a) Termination of Employment. Except as provided in § 5(b), § 5(c), or § 5(d) of
this Option Certificate, in the event that Key Employee’s employment by or with Cousins is
terminated for any reason on any date, Key Employee’s accrued right under § 3 of this Option
Certificate to exercise the Option shall expire immediately and automatically on the last day of
the earlier of (A) the twelve (12) consecutive month period which immediately follows the date Key
Employee’s employment terminates or (B) the period described in § 4 of this Option Certificate;
provided, however, that in the event Key Employee’s employment is terminated on any date by Cousins
for Cause, the Option shall expire immediately and automatically on such termination date and shall
be of no further force and effect with respect to any shares of Stock not purchased before such
date.

          For purposes of determining whether Key Employee’s employment by or with Cousins has
terminated,

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     (l) a transfer of employment between or among the organizations which
constitute Cousins shall not be treated as a termination of Key Employee’s
employment with Cousins,

     (2) if Key Employee is employed solely by a Subsidiary or Affiliate of CPI,
CPI’s sale of its ownership interest in such Subsidiary or Affiliate or its sale of
all or substantially all of the assets of such Subsidiary or Affiliate shall be
treated as a termination of Key Employee’s employment with Cousins, and

     (3) Key Employee’s commencement of a leave of absence from Cousins shall not
be treated as a termination of Key Employee’s continuous employment with Cousins,
provided such leave of absence is approved in writing by the Committee.

          (b) Death. In the event that Key Employee (l) dies while employed by Cousins or (2)
dies while he or she has a right to exercise the Option under § 5(a)(A) of this Option Certificate,
Key Employee’s right to exercise the Option under § 5(a)(A) shall be extended and thereafter shall
expire immediately and automatically on the last day of the twelve (12) consecutive month period
immediately following the date of Key Employee’s death. In the event that Key Employee dies while
employed by Cousins, Key Employee’s rights under § 3 shall be determined as if he or she had
remained in the employ of Cousins throughout the Vesting Period.

          (c) Change in Control. If (1) there is a Change in Control of CPI on any date and the
Plan and the Option are continued in full force and effect or there is an assumption of the Plan
and the Option in connection with such Change in Control and (2) Key Employee’s employment with
Cousins terminates at CPI’s initiative for reasons other than Cause or is

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terminated at Key Employee’s initiative for Good Reason within the Protection Period, then the
Option shall become 100% exercisable by Key Employee on the date his or her employment so
terminates (without regard to § 3 of this Option Certificate) in accordance with § 14 of the Plan
as in effect on the Award Date and shall be exercisable in accordance with § 5(a) of this Option
Certificate. If there is a Change in Control of CPI on any date and the Plan and the Option are
not continued in full force and effect or there is no assumption of the Plan and the Option in
connection with such Change in Control, (A) the Option shall become 100% exercisable by Key
Employee (without regard to § 3 of this Option Certificate) in accordance with § 14 of the Plan (as
in effect on the Award Date) as of the date of such Change in Control and (B) the Board shall have
the right (to the extent expressly required as part of such transaction) to cancel the Option after
providing Key Employee a reasonable opportunity to exercise the Option.

          (d) Retirement. In the event that Key Employee’s employment with Cousins terminates
by reason of Retirement, the Option shall become 100% exercisable by Key Employee on the date his
or her employment so terminates (without regard to § 3 of this Option Certificate) and Key
Employee’s right to exercise this Option shall expire, to the extent not exercised in full, no
earlier than the last day of the period described in § 4 of this Option Certificate (determined
without regard to § 5(a)). For purposes of this § 5(d), “Retirement” shall mean Key Employee’s
termination of employment with Cousins on or after the date (i) Key Employee has attained age 60
and (ii) Key Employee’s age (in whole years) plus Key Employee’s whole years of employment equal at
least 65.

     § 6. Method of Exercise. Key Employee may (subject to the conditions of this option
Certificate) exercise the Option in whole or in part (before the date the Option expires) on any
normal business day of CPI by (1) delivering to CPI at its principal place of business in Atlanta,

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Georgia a written notice (addressed to its Corporate Secretary or Chief Financial Officer) of
the exercise of such Option and (2) simultaneously paying the Option Price to CPI in cash, by
check, in Stock, or through any cashless exercise procedure which is acceptable to the Committee,
or in any combination of such forms of payment which results in full payment of the Option Price.
Any payment made in Stock shall be treated as equal to the Fair Market Value of such Stock on the
date action acceptable to the Committee is taken to tender Stock to the Committee or its delegate.

     § 7. Non-Transferability. The Option is not transferable (absent the Committee’s
consent) by Key Employee other than by will or by the applicable laws of descent and distribution,
and the Option (absent the Committee’s consent) shall be exercisable during Key Employee’s lifetime
only by Key Employee. The person or persons to whom the Option is transferred by will or by the
applicable laws of descent and distribution thereafter shall be treated as the Key Employee under
this Option Certificate.

     § 8. Not Contract; No Shareholder Rights; Construction of Option Certificate. This
Option Certificate (1) shall not be deemed a contract of employment, (2) shall not give Key
Employee any rights of any kind or description whatsoever as a shareholder of CPI as a result of
the grant of the Option or his or her exercise of the Option before the date of the actual delivery
of Stock subject to the Option to Key Employee, (3) shall not confer on Key Employee any rights
upon his or her termination of employment in addition to those rights expressly set forth in this
Option Certificate, and (4) shall be construed exclusively in accordance with the laws of the State
of Georgia.

     § 9. Other Conditions. If so requested by CPI upon the exercise of the Option, Key
Employee shall (as a condition to the exercise of the Option) enter into any other agreement or

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make such other representations prepared by CPI which in relevant part will restrict the
transfer of Stock acquired pursuant to the exercise of this Option and will provide for the
repurchase of such Stock by CPI under certain circumstances.

     § 10. Tax Withholding. The Committee shall have the right upon the exercise of the
Option to take such action as it deems necessary or appropriate to satisfy the minimum statutory
federal and state tax withholding requirements applicable to such exercise.

     § 11. Section 16a. If Key Employee, at the time he or she proposes to exercise any
rights under this Option, is an officer or director of CPI, or is filing ownership reports with the
Securities and Exchange Commission under Section 16(a) of the Exchange Act, then Key Employee
should consult CPI before Key Employee exercises such rights to determine whether the securities
law might subject him or her to additional restrictions upon the exercise of such rights.

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OPTION EXERCISE FORM

(To be used by Key Employee to exercise the rights to purchase Stock evidenced by the foregoing
Option)

TO: Cousins Properties, Inc.

     The Undersigned hereby exercises his/her right to purchase                      shares of Stock covered
by the Option evidenced by the attached Option Certificate in accordance with the terms and
conditions thereof, and herewith makes payment of the Option Price of such shares in full.

     If the Undersigned wants shares electronically transferred to a brokerage account, please
attach appropriate transfer instructions to this form.

	 	 	 	 	 
	 
	 
	 	 	 	 
	 

	 	 

Signature
	 	 
	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

Address
	 	 

Dated                                         

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