Document:

Exhibit
10.5

Magnetek,
Inc.

 

Restricted
Stock Award Agreement

(“Incentive
Stock Document”)

 

 

FOR GOOD AND VALUABLE
CONSIDERATION, MAGNETEK, INC., a Delaware Corporation,
hereby grants to the Grantee named below, an award of restricted $0.01 par value
Common Stock (the “Restricted Stock”), upon the terms and subject to the
conditions set forth in this Restricted Stock Award Agreement (the “Agreement”).  The award is granted pursuant to the 2004
Stock Incentive Plan of Magnetek, Inc. (the “Plan”) and is subject to the terms
and conditions of the Plan, which are incorporated herein by reference.  In the event of any conflict between the
provisions of this Agreement and the provisions of the Plan, the terms of the
Plan shall control, except as expressly stated otherwise in this Agreement. The
Committee, as defined in the Plan, shall have the authority to interpret this
Agreement and may change or modify its terms, subject to the terms of the Plan.

 

	
  Grantee:

  	
   

  	
  [Name]

  
	
   

  	
   

  	
   

  
	
  Number of Shares Awarded:

  	
   

  	
  [Number of Shares Granted]

  
	
  *Subject to restrictions
  in

  	
   

  	
   

  
	
  the Plan and this
  Agreement

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date of Award:

  	
   

  	
  [Date]

  
	
   

  	
   

  	
   

  
	
  Vesting:

  	
   

  	
  Your
  rights in and to the Restricted Stock shall not be vested as of the Grant
  Date and shall be subject to the forfeiture provisions set forth below unless
  and until otherwise vested pursuant to the terms of this Agreement. Provided that you remain continuously employed
  by the Company through [date], [insert percentage] of the Restricted Stock will
  vest on [insert date or vesting schedule].
  There are no other vesting requirements for these shares.

  
	
   

  	
   

  	
   

  
	
  Restrictions:

  	
   

  	
  Until
  the Restricted Stock vests, it shall not be liable for any of your debts,
  contracts or obligations nor is it subject to transfer, sale, pledge,
  encumbrance, assignment or any other means of disposition, whether voluntary,
  involuntary or by operation of law as a result of a judgment, levy,
  attachment, garnishment or any other legal or equitable proceedings
  (including bankruptcy). Any attempted disposition of the Restricted Stock
  prior to vesting shall be null and void and of no effect; provided, however,
  that nothing in this section shall prevent a transfer by will or by the
  applicable laws of descent and distribution, except as limited by the Plan.

  

 

 

1

 

	
  Forfeiture:

  	
   

  	
  In
  the event that your employment is terminated voluntarily or you have given
  notice of your intent to terminate your employment prior to the above vesting
  date, all of the Restricted Stock awarded to you under this Agreement will be
  forfeited. In the event your employment is involuntarily terminated prior to
  the above vesting date, all of the Restricted Stock awarded to you under this
  Agreement will be forfeited unless the Committee, in its sole and absolute
  discretion, elects to accelerate the vesting of some or all of the Restricted
  Stock awarded under this Agreement. In the event that your employment is
  terminated as a result of a “Change of Control”, as defined in Section 13.2
  of the Plan, your rights with respect to the Restricted Stock will be subject
  to the terms of Section 13 of the Plan [optional: and of
  your Change of Control Agreement].

  
	
   

  	
   

  	
   

  
	
  Stockholder Status;
  Voting:

  	
   

  	
  From
  and after the Grant Date, you will be recorded as a shareholder of the
  Company with respect to the shares of Restricted Stock (whether vested or
  unvested) and shall have voting rights with respect to such shares unless and
  until any such shares are forfeited pursuant to this Agreement or transferred
  back to the Company.

  
	
   

  	
   

  	
   

  
	
  Dividends:

  	
   

  	
  From
  and after the Grant Date and unless and until the Shares are forfeited
  pursuant to this Agreement or otherwise transferred back to the Company, you
  will be entitled to receive all dividends and other distributions paid with
  respect to the Restricted Stock, if any. Dividends payable by the Company to
  public stockholders in cash shall, with respect to any unvested shares of
  Restricted Stock, be paid in cash on or about the date such dividends are
  payable to public stockholders, subject to any applicable tax withholding
  requirements.

  
	
   

  	
   

  	
   

  
	
  Transferability:

  	
   

  	
  Neither
  the Restricted Stock award, nor any interest in the award, are transferable,
  subject to the provisions of Section 11.1 of the Plan.

  

 

 

2

 

	
  Payment of Withholding Taxes:

  	
   

  	
  If
  at any time the Company becomes obligated to withhold any amount for federal,
  state or local taxes imposed as a result of the grant of this Restricted
  Stock to you, including, without limitation, any employment tax, income tax,
  F.I.C.A., or state disability insurance (the date upon which the Company
  becomes so obligated shall be referred to herein as the “Withholding Date”),
  then you shall pay any such tax liability, in cash or by check with
  immediately available funds, to the Company on or before the Withholding Date
  or shall assign to the Company from the proceeds of any agreed upon sale of
  Restricted Stock the amount necessary to pay the tax liability. Execution of
  this Agreement constitutes your authorization and consent to the Company
  withholding the full amount of any tax liability from compensation or other
  amounts due and otherwise payable to you in the event that you do not pay the
  tax liability to the Company on or before the Withholding Date or assign to
  the Company sufficient proceeds from a sale of Restricted Stock to pay the
  tax liability and you further agree that any such withholding and payment of
  any tax liability by the Company to the relevant taxing authority shall
  constitute full satisfaction of the Company’s obligation to pay such
  compensation or other amounts to you.

  
	
   

  	
   

  	
   

  
	
  Taxable Income and Section
  83(b) Election:

  	
   

  	
  You
  understand that the taxable income recognized by you as a result of the award
  of Restricted Stock pursuant to this Agreement, and the overall tax liability
  and Withholding Date would be affected by your decision within 30 days of the
  Grant Date to make an election under Section 83(b) of the United States
  Internal Revenue Code (an “83(b) Election”). You understand and agree that it
  is your sole responsibility to decide whether to make an 83(b) Election with
  respect to the award of Restricted Stock and for properly making the election
  and filing the proper form with the relevant taxing authorities on a timely
  basis. You acknowledge and agree that you have not and will not rely on the
  Company for advice in connection with this decision and you further
  acknowledge that the Company has advised you to contact your own tax advisor
  to discuss the desirability of making an 83(b) Election with respect to this grant.
  You further agree that it is your responsibility to timely notify the Company
  of your decision and to immediately submit to the Company a signed copy of
  any 83(b) Election form that you file with respect to this grant of
  Restricted Stock and to pay applicable withholding taxes to the Company at
  the time that the 83(b) Election is filed.

  

 

 

3

 

	
  Escrow:

  	
   

  	
  Until
  the Restricted Stock vests, the record address of the holder of record shall
  be “c/o the Secretary of Magnetek, Inc.” at the address of the Corporate
  Offices of the Company. The stock will be held in escrow in the custody of
  the Secretary of the Company and shall contain the following legend: “THE
  TRANSFER AND REGISTRATION OF TRANSFER OF THE SECURITIES REPRESENTED BY THIS
  CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS AS PROVIDED IN A RESTRICTED
  STOCK AGREEMENT DATED AS OF [DATE] BY AND
  BETWEEN MAGNETEK, INC. AND [INSERT NAME OF GRANTEE]”.
  After the stock vests, you are entitled, provided you have paid any tax
  liability, to receive the certificate representing the Restricted Stock,
  which shall no longer contain the above legend.

  
	
   

  	
   

  	
   

  
	
  No Employment Rights:

  	
   

  	
  This
  Agreement does not confer upon you any right to continue in the employment of
  Magnetek, Inc. or any of its subsidiaries or affiliates, nor does it affect
  the Company’s right to terminate your employment, with or without cause, or
  confer any right upon you to participate in any welfare or benefit plan of
  the Company.

  

 

	
  MAGNETEK, INC.

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  [Name],

  	
   

  	
  Name:

  
	
   

  	
  Chief
  Executive Officer

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  [Name]

  	
   

  	
  Address

  
	
   

  	
  Vice
  President, General Counsel

  	
   

  	
   

  
	
   

  	
  and
  Secretary

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

 

4Exhibit
10.2

 

AMENDMENT NO. 1 TO

REGISTRATION RIGHTS AGREEMENT

 

THIS AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT (“Amendment”), is
entered into as of August 29, 2005, by and among Kite Realty Group Trust, a
real estate investment trust organized under the laws of Maryland (the “Company”),
Brentwood Holdings, LLC, a limited liability organized under the laws of
Indiana (“Brentwood”), KMI Holdings, LLC, a limited liability company organized
under the laws of Indiana, Alvin E. 
Kite, Jr., John A. Kite, Paul W. Kite, Thomas K. McGowan, Daniel R.
Sink, George F. McMannis, IV, Mark Jenkins, C. Kenneth Kite and David Grieve.

 

WHEREAS, the parties hereto other than Brentwood have entered into a registration
rights agreement, dated as of August 16, 2004 (the “Original Registration
Rights Agreement”);

WHEREAS, pursuant to the terms of that certain contribution agreement,
dated as of March 31, 2005, by and among Kite Realty Group, L.P., a limited
liability partnership organized under the laws of Delaware (“Kite Realty”),
Brentwood and the other parties thereto (the “Contribution Agreement”), the
Company agreed to amend the Original Registration Rights Agreement in order to
provide Brentwood with registration rights that either, at the option of the
Company (i) register the issuance of REIT Common Shares (as defined in the
Original Registration Rights Agreement) received upon redemption of the Class A
units of limited partnership interest in Kite Realty issued pursuant to the
Contribution Agreement (“Units”), or (ii) register the resale of the REIT Common
Shares issuable upon redemption of the Units; and

WHEREAS, the parties desire to amend the Original Registration Rights
Agreement to provide Brentwood with the registration rights contemplated under
the Contribution Agreement.

NOW, THEREFORE, the parties hereto, in consideration of the foregoing,
the mutual covenants and agreements hereinafter set forth, and other good and
valuable consideration, the receipt and sufficiency of which are acknowledged,
hereby agree as follows:

 

SECTION
1.           AMENDMENTS TO THE ORIGINAL
REGISTRATION RIGHTS AGREEMENT

 

1.1  Addition of Brentwood.  Effective as of the date hereof, the Original
Registration Rights Agreement is hereby amended to add Brentwood as a party
thereto.

 

1.2  Addition of Brentwood as
a Contributor.  Effective as of the
date hereof, the Original Registration Rights Agreement is hereby amended to
add Brentwood (and its successors and assigns permitted under Section 7.3 of
the Registration Rights Agreement) to the definition of “Contributors” therein.

 

 

1.3  Schedule A.  Effective as of the date hereof, the Original
Registration Rights Agreement is hereby amended by replacing Schedule A
attached thereto in its entirety with Schedule A attached to this Amendment.

 

1.4  References to Agreement.  Each reference to “this Agreement,” “hereof,”
“herein,” “hereby,” or words of like import referring to the Original
Registration Rights Agreement shall mean and be a reference to the Original
Registration Rights Agreement as amended by this Amendment, and as may be
further amended, modified, supplemented or restated after the date hereof in
accordance with the terms thereof.

 

1.5  KMI Holdings, LLC.  The parties acknowledge and agree that KMI
Holdings, LLC, which distributed all of the Units received by KMI Holdings, LLC
in connection with the Company’s initial public offering in August 2004 to its
members and no longer owns any Units, is no longer a party to the Registration
Rights Agreement.

 

SECTION
2.           MISCELLANEOUS

 

2.1  Effect on Original.  Except as expressly provided herein, the
provisions of the Original Registration Rights Agreement shall remain unchanged
and continue in full force and effect.

 

2.2  Definitions.  Unless the context otherwise requires, or
unless otherwise defined herein, capitalized terms used in this Amendment shall
have the respective meanings specified in the Original Registration Rights
Agreement.

 

2.3  Notices.  Any notice or demand which must or may be
given under this Amendment or by law shall be given in accordance with Section
7.4 of the Original Registration Rights Agreement.  For the purposes of Section 7.4 of the
Original Registration Rights Agreement, any notice to be delivered to Brentwood
shall be delivered to Brentwood at the following address: c/o Kite Realty Group
Trust, 30 S. Meridian Street, Suite 1100, Indianapolis, Indiana 46204, or to
any such other address or addresses as Brentwood may from time to time specify
in compliance with the Original Registration Rights Agreement.  Any facsimile transmission delivered to
Brentwood shall be directed to: c/o Kite Realty Group Trust, facsimile number:
317-577-5605.

 

2.4  Governing Law.  This Amendment, the rights and obligations of
the parties hereto, and any claims or disputes relating thereto, shall be governed
by and construed in accordance with the laws of the State of Maryland, but not
including the choice of law rules thereof.

 

2.5  Headings.  Section and subsection headings contained in
this Amendment are inserted for convenience of reference only, shall not be
deemed to be a part of this Amendment for any purpose, and shall not in any way
define or affect the meaning, construction or scope of any of the provisions
hereof.

 

2

 

2.6  Pronouns.  All pronouns and any variations thereof shall
be deemed to refer to the masculine, feminine, neuter, singular or plural, as
the identity of the person or entity may require.

 

2.7  Execution in Counterparts.  To facilitate execution, this Amendment may
be executed and delivered in as many counterparts as may be required. It shall
not be necessary that the signature of or on behalf of each party appears on
each counterpart, but it shall be sufficient that the signature of or on behalf
of each party appears on one or more of the counterparts. All counterparts
shall collectively constitute a single agreement. It shall not be necessary in
any proof of this Amendment to produce or account for more than a number of
counterparts containing the respective signatures of or on behalf of all of the
parties.

 

2.8  Severability.  If fulfillment of any provision of this Amendment,
at the time such fulfillment shall be due, shall transcend the limit of
validity prescribed by law, then the obligation to be fulfilled shall be
reduced to the limit of such validity; and if any clause or provision contained
in this Amendment operates or would operate to invalidate this Amendment, in
whole or in part, then such clause or provision only shall be held ineffective,
as though not herein contained, and the remainder of this Amendment shall
remain operative and in full force and effect.

 

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

3

 

                             IN
WITNESS WHEREOF, each of the undersigned has caused this Amendment No. 1 to
Registration Rights Agreement to be duly executed and delivered in its name and
on its behalf as of the date first written above.

  

	
  KITE REALTY GROUP TRUST 
  

  	
  KMI HOLDINGS, LLC

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Daniel R. Sink 

  	
   

  	
  By:  

  	
  /s/ Alvin E. Kite, Jr.

  
	
  Name:

  	
  Daniel R. Sink

  	
  Name:

  	
  Alvin E. Kite, Jr.

  
	
  Title:

  	
  Senior Vice President, Chief Financial Officer

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BRENTWOOD HOLDINGS, LLC 

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Alvin E. Kite, Jr. 

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Alvin E. Kite, Jr. 

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  

 

	
  /s/ Alvin E. Kite, Jr.

  	
   

  	
  /s/ John A. Kite

  
	
  Alvin E. Kite, Jr.

  	
   

  	
  John A. Kite

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Paul W. Kite

  	
   

  	
  /s/ Thomas K. McGowan

  
	
  Paul W. Kite

  	
   

  	
  Thomas K. McGowan

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Daniel R. Sink

  	
   

  	
  /s/ George F. McMannis, IV

  
	
  Daniel R. Sink

  	
   

  	
  George F. McMannis, IV

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Mark Jenkins

  	
   

  	
  /s/ C. Kenneth Kite, By Martin V. Shrader, His
  Attorney-In-Fact

  
	
  Mark Jenkins

  	
   

  	
  C. Kenneth Kite

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ David Grieve

  	
   

  	
   

  
	
  David Grieve

  	
   

  	
   

  

 

4

 

	
  Alvin E. Kite Centre
  Associates Irrevocable Trust 

  	
   

  	
  Alvin E. Kite, Jr. 2004-8
  REIT Grantor Annuity Trust 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Alvin E. Kite

  	
   

  	
  By:

  	
  /s/ Alvin E. Kite

  
	
  Name:

  	
  Alvin E. Kite, Jr. 

  	
   

  	
  Name:

  	
  Alvin E. Kite, Jr. 

  
	
  Title:

  	
  Trustee

  	
   

  	
  Title:

  	
  Trustee

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alvin E. Kite, Jr. 2002-12
  Irrevocable Trust

  	
   

  	
  John A. Kite, Jr. 2002-12
  Irrevocable Trust 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Thomas K. McGowan 

  	
   

  	
  By:

  	
  /s/ John A. Kite 

  
	
  Name:

  	
  Thomas K. McGowan 

  	
   

  	
  Name:

  	
  John A. Kite 

  
	
  Title:

  	
  Trustee

  	
   

  	
  Title:

  	
  Trustee

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Thomas K. McGowan Real
  Estate 2004-12 REIT Grantor Retained Annuity Trust 

  	
   

  	
  Paul W. Kite Real Estate
  2005-12 REIT Grantor Retained Annuity Trust 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Thomas K. McGowan

  	
   

  	
  By:

  	
  /s/ Paul W. Kite

  
	
  Name:

  	
  Thomas K. McGowan 

  	
   

  	
  Name:

  	
  Paul W. Kite 

  
	
  Title:

  	
  Trustee

  	
   

  	
  Title:

  	
  Trustee

  

 

 

5

 

EXHIBITS TO THE REGISTRATION RIGHTS AGREEMENT*

 

 

 

	
  Schedule A

  	
   

  	
  Number of Units and
  REIT Common Shares

  

*                 The registrant agrees to furnish, supplementally,
a copy of omitted Schedule A upon request.

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