Document:

exv10w25

 

Ex. 10.25

AMENDMENT NO. 1

TO THE

FIRST INDUSTRIAL REALTY TRUST, INC.

1997 STOCK INCENTIVE PLAN

     AMENDMENT NO. 1 (the “First Amendment”) to the First Industrial Realty Trust, Inc.
1997 Stock Incentive Plan (the “Plan”) established and maintained by First Industrial Realty Trust,
Inc., a Maryland corporation (the “Company”). Capitalized terms used herein and not defined shall
have the meanings set forth in the Plan.

     WHEREAS, the Company’s common stock is listed on the New York Stock Exchange (“NYSE”);

     WHEREAS, the NYSE has required that all listed securities be eligible for the Direct
Registration System (“DRS”) by March 31, 2008, and DRS is intended to facilitate the issuance,
ownership and transfer of the Company’s common stock in uncertificated form;

     WHEREAS, the Plan currently contemplates the issuance of certificates to represent awarded
shares;

     WHEREAS, section 12 of the Plan reserves to the Board the right to amend the Plan at any time;
and

     WHEREAS, the Board desires to amend the Plan to permit the issuance of awarded shares in
uncertificated form.

     NOW, THEREFORE, BE IT RESOLVED, that the Plan is hereby amended by this First Amendment as
follows:

SECTION 1. Amendments to Plan.

     1. Section 5(iv) is hereby amended by deleting the words “certificates representing” in the
final paragraph thereof.

     2. Section 6(c) is hereby amended by replacing the existing phrase “certificates evidencing
shares of Restricted Stock” with the phrase “if certificates are issued to evidence shares of
Restricted Stock, such certificates”.

     3. Section 7(c) is hereby amended by deleting the existing phrase “a stock certificate
evidencing the acquisition of” from the second sentence thereof.

     4. Section 15(a) is hereby amended by replacing the final sentence of such section with the
sentence, “The Company may, as it deems appropriate: (i) require the placing of such stop-orders
and restrictive legends on certificates for Stock and Awards, (ii) make a notation within any
electronic recordation system for ownership of shares, or (iii) utilize other reasonable means to
evidence such shares have not been registered under the Securities Act of 1933.”

 

 

     5. Section 15(b) is hereby amended by inserting at the beginning of the first sentence of
such section the phrase, “If stock certificates are issued to evidence shares awarded under this
Plan,”.

SECTION 2. Effective Date of the Amendment; Ratification and Confirmation.

     This Amendment shall become effective upon approval by the Board of Directors of the Company.
In all other respects, the Plan is hereby ratified and confirmed.

SECTION 3. Governing Law.

     THIS AMENDMENT SHALL BE GOVERNED BY NEW YORK LAW WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT
OF LAWS THEREOF, EXCEPT TO THE EXTENT SUCH LAW IS PREEMPTED BY FEDERAL LAW.exv10w26

 

Exhibit 10.26

FIRST INDUSTRIAL REALTY TRUST, INC.

1997 STOCK INCENTIVE PLAN

FORM OF NON-EMPLOYEE DIRECTOR

RESTRICTED STOCK AWARD AGREEMENT

     AGREEMENT,
made and entered into as of                     , 200___ by and between the
First Industrial Realty Trust, Inc. 1997 Stock Incentive Plan Committee (the “Committee”) and
                     (the “Grantee”).

     WHEREAS, the Grantee has been elected to participate in the First Industrial Realty Trust,
Inc. 1997 Stock Incentive Plan (the “Plan”).

     NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and
for other good and valuable consideration, First Industrial Realty Trust, Inc. (the “Company”) and
the Grantee agree as follows:

     (a) Grant. Pursuant to the provisions of the Plan, the terms of which are
incorporated herein by reference, the Committee hereby grants to the Grantee an interest (the
“Award”) in ___ shares of common stock, par value $.01 per share, of the Company (the
“Shares”). The Award is granted as of ___, 2008 (the “Date of Grant”) and such grant is
subject to the terms and conditions contained herein, and the terms and conditions of the Plan.

     (b) Vesting. The Award shall vest, and the Grantee shall be deemed to have acquired
complete ownership and control over the Award Shares, under the following circumstances:

	 	(i)	 	on January 31 of the fifth calendar year following the Date of
Grant calendar year (e.g. January 31, 2013 for an Award with a January ___, 2008
Date of Grant);
	 
	 	(ii)	 	in the event of a Change in Control of the Company, as defined
under the Plan;
	 
	 	(iii)	 	on the January 31 of the year following the year in which the
Grantee voluntarily terminates service as a Board member with the Company, as
long as the total funds from operations (FFO) or FFO per share of the Company
for such year of termination has increased from the FFO or FFO per share for
the calendar year immediately preceding the Date of Grant calendar year;
	 
	 	(iv)	 	in the event of the involuntary termination of the service of
the Grantee as a Board member for any reason; or
	 
	 	(v)	 	the Compensation Committee so directs.

 

 

     (a) Share Delivery. Upon vesting, shares shall be issued to the Grantee;
provided, that the Company shall not be obligated to issue Shares in certificated form;
provided, further, that the Company shall not be obligated to issue any Shares hereunder
until all applicable securities laws and other legal and stock exchange requirements have been
satisfied. The Grantee shall execute a stock power in the form attached hereto granting the
Company the right to transfer Award Shares in the event the Grantee does not vest in the Award.

     (b) Rights of Stockholder. The Grantee shall, by virtue of the Award, be entitled to
receive dividends and vote the Award Shares. The grant of the Award shall not confer on the
Grantee any right with respect to continuance of service as a Board member with the Company nor
shall such grant interfere in any way with the right of the Company to terminate the Grantee’s
service as a Board member at any time.

     (c) Recapitalizations, Dividends and Adjustments. In the event of any
recapitalization, reclassification, split-up or consolidation of Shares, separation (including a
spin-off), dividend on Shares payable in capital stock or other similar change in capitalization of
the Company, merger or consolidation of the Company, sale by the Company of all or a portion of its
assets or other similar event, the Committee shall make such appropriate adjustments in the number
and kind of securities, cash or other property which may be issued pursuant to the Award as is
necessary to maintain the proportionate interest of the Grantee and preserve the value of the
Award.

     (d) Nontransferability. The Award shall not be transferable by the Grantee except by
will or the laws of descent and distribution.

     (e) Withholding. The Grantee agrees to make appropriate arrangements, consistent with
the provisions of Section 10 of the Plan, with the Company for satisfaction of any applicable tax
withholding requirements, or similar requirements, arising out of this Agreement.

     (f) References. References herein to rights and obligations of the Grantee shall
apply, where appropriate, to the Grantee’s legal representative or estate without regard to whether
specific reference to such legal representative or estate is contained in a particular provision of
this Agreement. Capitalized terms referred to herein but not defined shall have the meanings given
to them in the Plan.

     (g) Notice. Any notice required or permitted to be given under this Agreement shall
be in writing and shall be deemed to have been given when delivered personally or by courier, or
sent by certified or registered mail, postage prepaid, return receipt requested, duly addressed to
the party concerned at the address indicated below or to such changed address as such party may
subsequently by similar process give notice of:

	 	 	 	 	 
	 

	 	If to the Company:
	 	First Industrial Realty Trust, Inc.
	 

	 	 	 	311 S. Wacker Drive, Suite 4000
	 

	 	 	 	Chicago, Illinois 60606
	 

	 	 	 	Attn: Chief Financial Officer

2

 

	 	 	 	 	 	 	 
	 

	 	If to the Grantee:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

     (h) Counterparts. This Agreement may be executed in counterparts, each of which shall
constitute one and the same instrument.

     (i) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York without reference to the principles of conflict of laws,
except to the extent such law is preempted by federal law.

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of
___, 200__.

	 	 	 	 	 
	 	FIRST INDUSTRIAL REALTY TRUST, INC.

 	 
	 	By:  	 	 
	 	 	Michael J. Havala 	 
	 	 	Chief Financial Officer 	 
	 

     I hereby acknowledge that I have received a copy of the Plan and am familiar with the terms
and conditions set forth therein. I agree to accept as binding, conclusive, and final all
decisions and interpretations of the Committee. As a condition to the receipt of the Award, I
hereby authorize the Company to withhold from any regular cash compensation payable to me by the
Company any taxes required to be withheld under any federal, state or local law as a result of this
Award.

	 	 	 	 	 	 	 
	 

	 	GRANTEE
	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 	 	 

3exv10w27

 

Exhibit 10.27

FIRST INDUSTRIAL REALTY TRUST, INC.

1997 STOCK INCENTIVE PLAN

FORM OF NON-EMPLOYEE DIRECTOR

RESTRICTED STOCK AWARD AGREEMENT

     AGREEMENT,
made and entered into as of ___, 200___ by and between the
First Industrial Realty Trust, Inc. 1997 Stock Incentive Plan Committee (the “Committee”) and
«Name» (the “Grantee”).

     WHEREAS, the Grantee has been elected to participate in the First Industrial Realty Trust,
Inc. 1997 Stock Incentive Plan (the “Plan”).

     NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and
for other good and valuable consideration, First Industrial Realty Trust, Inc. (the “Company”) and
the Grantee agree as follows:

     (a) Grant. Pursuant to the provisions of the Plan, the terms of which are
incorporated herein by reference, the Committee hereby grants to the Grantee an interest (the
“Award”) in ___ shares of common stock, par value $.01 per share, of the Company (the
“Shares”). The Award is granted as of July ___,
200___ (the “Date of Grant”) and such grant is
subject to the terms and conditions contained herein, and the terms and conditions of the Plan.

     (b) Vesting. The Award shall vest, and the Grantee shall be deemed to have acquired
complete ownership and control over the Award Shares, under the following circumstances:

	 	(i)	 	on July 1 of the third calendar year following the Date of
Grant calendar year (e.g. July 1, 2011 for an Award with a July 1, 2008 Date of
Grant);
	 
	 	(ii)	 	in the event of a Change in Control of the Company, as defined
under the Plan;
	 
	 	(iii)	 	on the January 31 of the year following the year in which the
Grantee voluntarily terminates service as a Board member with the Company, as
long as the total funds from operations (FFO) or FFO per share of the Company
for such year of termination has increased from the FFO or FFO per share for
the calendar year immediately preceding the Date of Grant calendar year;
	 
	 	(iv)	 	in the event of the involuntary termination of the service of
the Grantee as a Board member for any reason; or
	 
	 	(v)	 	the Compensation Committee so directs.

 

 

     (c) Share Delivery. Upon vesting, shares shall be issued to the Grantee;
provided, that the Company shall not be obligated to issue Shares in certificated form;
provided, further, that the Company shall not be obligated to issue any Shares hereunder
until all applicable securities laws and other legal and stock exchange requirements have been
satisfied. The Grantee shall execute a stock power in the form attached hereto granting the
Company the right to transfer Award Shares in the event the Grantee does not vest in the Award.

     (d) Rights of Stockholder. The Grantee shall, by virtue of the Award, be entitled to
receive dividends and vote the Award Shares. The grant of the Award shall not confer on the
Grantee any right with respect to continuance of service as a Board member with the Company nor
shall such grant interfere in any way with the right of the Company to terminate the Grantee’s
service as a Board member at any time.

     (e) Recapitalizations, Dividends and Adjustments. In the event of any
recapitalization, reclassification, split-up or consolidation of Shares, separation (including a
spin-off), dividend on Shares payable in capital stock or other similar change in capitalization of
the Company, merger or consolidation of the Company, sale by the Company of all or a portion of its
assets or other similar event, the Committee shall make such appropriate adjustments in the number
and kind of securities, cash or other property which may be issued pursuant to the Award as is
necessary to maintain the proportionate interest of the Grantee and preserve the value of the
Award.

     (f) Nontransferability. The Award shall not be transferable by the Grantee except by
will or the laws of descent and distribution.

     (g) Withholding. The Grantee agrees to make appropriate arrangements, consistent with
the provisions of Section 10 of the Plan, with the Company for satisfaction of any applicable tax
withholding requirements, or similar requirements, arising out of this Agreement.

     (h) References. References herein to rights and obligations of the Grantee shall
apply, where appropriate, to the Grantee’s legal representative or estate without regard to whether
specific reference to such legal representative or estate is contained in a particular provision of
this Agreement. Capitalized terms referred to herein but not defined shall have the meanings given
to them in the Plan.

     (i) Notice. Any notice required or permitted to be given under this Agreement shall
be in writing and shall be deemed to have been given when delivered personally or by courier, or
sent by certified or registered mail, postage prepaid, return receipt requested, duly addressed to
the party concerned at the address indicated below or to such changed address as such party may
subsequently by similar process give notice of:

	 	 	 	 	 
	 

	 	If to the Company:
	 	First Industrial Realty Trust, Inc.
	 

	 	 	 	311 S. Wacker Drive, Suite 4000
	 

	 	 	 	Chicago, Illinois 60606
	 

	 	 	 	Attn: Chief Financial Officer

2

 

     If to the Grantee:

     (j) Counterparts. This Agreement may be executed in counterparts, each of which shall
constitute one and the same instrument.

     (k) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York without reference to the principles of conflict of laws,
except to the extent such law is preempted by federal law.

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of
July ___, 200__.

	 	 	 	 	 
	 	FIRST INDUSTRIAL REALTY TRUST, INC.

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

     I hereby acknowledge that I have received a copy of the Plan and am familiar with the terms
and conditions set forth therein. I agree to accept as binding, conclusive, and final all
decisions and interpretations of the Committee. As a condition to the receipt of the Award, I
hereby authorize the Company to withhold from any regular cash compensation payable to me by the
Company any taxes required to be withheld under any federal, state or local law as a result of this
Award.

	 	 	 	 	 	 	 
	 

	 	GRANTEE
	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 	 	 

3

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