Document:

Exhibit 10.1

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Nicholas C. Babson (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is intended
that the Option shall qualify as an “incentive stock option” as described in
Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action, including
other changes in its right to recapitalize, reorganize or consolidate, issue
bonds, notes or stock, including preferred stock or options therefore, to
dissolve or liquidate, or to sell or transfer any part of its assets or
business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

 

 

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No Right
of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for 

 

 

 

 

the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Nicholas C. Babson

  
	
   

  	
   

  	
  Printed Name: Nicholas
  C. Babson

  
							

 

 

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Martin Barber (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 13,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  /s/ Martin Barber

  
	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Martin
  Barber

  

 

 

 

CENTERPOINT PROPERTIES TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Norman R. Bobins (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Norman R. Bobins

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Norman
  R. Bobins

  

 

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Alan D. Feld (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth anniversary
  of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the Committee
to furnish reasonable evidence of ownership of the Option as a condition to the
exercise of the Option.  In addition, the
Committee may require such consents and releases of taxing authorities as the
Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Alan D. Feld

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Alan D.
  Feld

  

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and John S. Gates, Jr. (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 13,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance with
all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Michael M. Mullen

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Michael M. Mullen

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ John S. Gates, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: John S.
  Gates, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Donald A. King, Jr. (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

3.                                      Price.     The price of each share purchased by exercise
of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the Committee
to furnish reasonable evidence of ownership of the Option as a condition to the
exercise of the Option.  In addition, the
Committee may require such consents and releases of taxing authorities as the
Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of the
Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Donald A. King, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Donald
  A. King, Jr.

  

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Thomas E. Robinson (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Thomas E. Robinson

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Thomas
  E. Robinson

  

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and John 
(Jack) C. Staley (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier, addressed
as follows:  if to the Company, to the
Company’s principal office, and if to the Optionee or his successor, to the
address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and communication
given by telex or telecopier shall be deemed to have been given when it is so
transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

 

 

                                                IN WITNESS WHEREOF,
the Optionee and the Company have executed this Agreement as of the date first
written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ John C. Staley

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: John
  (Jack) C. Staley

  

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Robert L. Stovall (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 13,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance
with the provisions of Section 7.2 of the Plan.

 

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

 

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance
with all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either delivered
personally or sent by registered or certified first-class mail, postage prepaid
and return receipt requested, or by telex or telecopier, addressed as
follows:  if to the Company, to the
Company’s principal office, and if to the Optionee or his successor, to the
address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Robert L. Stovall

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Robert
  L. Stovall

  

 

 

CENTERPOINT PROPERTIES
TRUST

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (the “Agreement”) is dated as of May 16, 2005 between
CenterPoint Properties Trust, a Maryland real estate investment trust (the “Company”),
and Donald A. King, Jr. (the “Optionee”).

 

This
Agreement is made pursuant to, and is governed by, the CenterPoint Properties
Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing an option granted in accordance with the terms
of the Plan.  In this Agreement, “shares”
means shares of the Company’s Common Stock or other securities resulting from
an adjustment under Article 8 of the Plan.

 

The
parties agree as follows:

 

1.                                      Grant
of Option.  The Company
hereby grants to the Optionee an option (the “Option”) to purchase 10,000 shares under the terms and conditions
hereof.

 

2.                                      Term.  The Option becomes exercisable and terminates
in accordance with the schedule set forth in Section 5 hereof; provided,
however, that in the event employment of the Optionee with the Company or a
Subsidiary terminates for any reason, the Option shall terminate in accordance with
the provisions of Section 7.2 of the Plan.

3.                                      Price.     The price of each share purchased by
exercise of the Option is $42.36

 

4.                                      Partial
Exercise.  The Option, to
the extent exercisable under Section 5 hereof, may be exercised in whole or in
part provided that the Option may not be exercised for less than 100 shares in
any single transaction unless such exercise pertains tot he entire number of
shares then covered by the Option.

 

5.                                      Exercise
Period.

 

(a)                                  Except as
otherwise provided in the Plan or in this Agreement, the Option shall become
exercisable as follows:

 

	
  Time Period

  	
   

  	
  Exercisable

  	
   

  
	
  Prior to the first
  anniversary of the date of this Agreement

  	
   

  	
  None

  	
   

  
	
  After the first
  anniversary of the date of this Agreement

  	
   

  	
  One-fifth

  	
   

  
	
  After the second
  anniversary of the date of this Agreement

  	
   

  	
  Two-fifths

  	
   

  
	
  After the third
  anniversary of the date of this Agreement

  	
   

  	
  Three-fifths

  	
   

  
	
  After the fourth
  anniversary of the date of this Agreement

  	
   

  	
  Four-fifths

  	
   

  
	
  After the fifth
  anniversary of the date of this Agreement

  	
   

  	
  All

  	
   

  

 

(b)                                 If it has not
previously terminated pursuant to the terms of the Plan or this Agreement, the
Option shall terminate at the close of business on the day before the tenth
anniversary of the date of this Agreement.

 

 

 

6.                                      Method
of Exercise.  The Option
shall be exercised by written notice by Optionee to the Company specifying the
number of shares that such person elects to purchase, accompanied by full
payment, in cash or current funds, for such shares.

 

7.                                      ISO
Treatment.  It is
intended that the Option shall qualify as an “incentive stock option” as
described in Section 422 of the Internal Revenue Code of 1986, as amended.

 

8.                                      Rights
of Stockholder.  No person,
estate, or other entity will have the rights of a stockholder with respect to
shares subject to the Options until a certificate or certificates for these
shares have been delivered to the person exercising the option.

 

9.                                      Rights
of the Company.  This
Agreement does not affect the Company’s right to take any corporate action,
including other changes in its right to recapitalize, reorganize or
consolidate, issue bonds, notes or stock, including preferred stock or options
therefore, to dissolve or liquidate, or to sell or transfer any part of its
assets or business.

 

10.                               Changes
in Capitalization.  Upon the
occurrence of an event described in Section 8.1(a) of the Plan, the Committee
shall make the adjustments specified in Section 8.1(b) of the Plan.

 

11.                               Taxes.  The company, if necessary or desirable, may
pay or withhold the amount of any tax attributable to any shares deliverable
under this Agreement, and the company may defer making delivery until it is
indemnified to its satisfaction for that tax.

 

12.                               Compliance
with Laws.  Options are
exercisable, and shares can be delivered under this Agreement, only in
compliance with all applicable federal and state laws and regulations,
including without limitation state and federal securities laws, and the rules
of all stock exchanges on which the Common Stock is listed at any time.  Options may not be exercised and shares may
not be issued under this Agreement until the Company has obtained the consent
or approval of every regulatory body, federal or state, having jurisdiction
over such matters as the Committee deems advisable.  Each person or estate that acquired the right
to exercise an Option by bequest or inheritance may be required by the
Committee to furnish reasonable evidence of ownership of the Option as a
condition to the exercise of the Option. 
In addition, the Committee may require such consents and releases of
taxing authorities as the Committee deems advisable.

 

13.                               Stock
Legends.  Any
certificate issued to evidence shares issued under the Option shall bear such
legends and statements as the committee deems advisable to assure compliance with
all federal and state laws and regulations.

 

 

 

14.                               Assignability.  The Option shall not be transferable other
than by will or the laws of descent and distribution.  G the Optionee’s lifetime, the Option shall
be exercisable only by the Optionee, except as otherwise provided herein.  The Option shall be transferable, on the
Optionee’s death, to the Optionee’s estate and shall be exercisable, during the
Optionee’s lifetime, by the Optionee’s guardian or legal representative.

 

15.                               No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee’s employment at any time.

 

16.                               Amendment
of Option.  The Company
may alter, amend, or terminate the Option only with the Optionee’s consent,
except for adjustments expressly provided by this Agreement.

 

17.                               Choice
of Law.  The provisions of Section 9.6
of the Plan, concerning choice of law, shall govern this Agreement.

 

18.                               Miscellaneous.  This Agreement is subject to and controlled
by the Plan.  Any inconsistency between
this Agreement and said Plan shall be controlled by the Plan.  This Agreement is the final, complete, and
exclusive expression of the understanding between the parties and supersedes
any prior or contemporaneous agreement or representation, oral or written,
between them.  Modification of this
Agreement or waiver of a condition herein must be written and signed by the
party to be bound.  In the event that any
paragraph or provision of this Agreement shall be held to be illegal or
unenforceable, such paragraph or provision shall be severed from the Agreement
and the entire Agreement shall not fail on account thereof, but shall otherwise
remain in full force and effect.

 

19.                               Notices.  All notices and other communications required
or permitted under this Agreement shall be written, and shall be either
delivered personally or sent by registered or certified first-class mail,
postage prepaid and return receipt requested, or by telex or telecopier,
addressed as follows:  if to the Company,
to the Company’s principal office, and if to the Optionee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopier shall be deemed to have been given
when it is so transmitted and the appropriate answer back is received.  A party may change its address for the
purpose hereof by giving notice in accordance with the provisions of this
Section 19.

 

                                                IN WITNESS
WHEREOF, the Optionee and the Company have executed this Agreement as of the
date first written above.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Donald A. King, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Printed Name: Donald
  A. King, Jr.Exhibit 10.2

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Nicholas C. Babson (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 472 Common
Shares (the “Shares”) under the terms and
conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such consents
and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No Right
of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any inconsistency
between this Agreement and the 2003 Plan, the terms of the 2003 Plan shall
govern.  This Agreement is the final,
complete, and exclusive expression of the understanding between the parties and
supersedes any prior or contemporaneous agreement
or representation, oral or written, between them.  Modification of this Agreement or waiver of a
condition herein must be written and signed by the party to be bound.  In the event that any paragraph or provision
of this Agreement shall be held to be illegal or unenforceable, such paragraph
or provision shall be severed from the Agreement and the entire Agreement shall
not fail on account thereof, but shall otherwise remain in full force and
effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or
telecopy, addressed as follows: if to the Company, to the Company’s principal
office, Attention: Mr. Rockford O. Kottka, and if to the Grantee or his
successor, to the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

2

 

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Nicholas Babson

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Nicholas C.
  Babson

  
											

 

 

3

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Martin
Barber (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined herein
shall have the meanings set forth in the Plan. 
The purpose of this Agreement is to establish a written agreement
evidencing a grant of Restricted Shares made in accordance with the terms of
the Plan.  In this Agreement, “Restricted
Shares” means shares granted pursuant to this Agreement or other securities
resulting from an adjustment under Section 1.5 and 6.2 of the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 708  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or
telecopy, addressed as follows: if to the Company, to the Company’s principal
office, Attention: Mr. Rockford O. Kottka, and if to the Grantee or his
successor, to the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given when
it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

 

2

 

IN WITNESS
WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Martin Barber

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Martin Barber

  	
   

  
											

 

 

3

 

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Norman
Bobins (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 472  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or
telecopy, addressed as follows: if to the Company, to the Company’s principal
office, Attention: Mr. Rockford O. Kottka, and if to the Grantee or his
successor, to the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

2

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Norman Bobins

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Norman Bobins

  
												

 

 

3

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Alan D. Feld (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 472  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or
telecopy, addressed as follows: if to the Company, to the Company’s principal
office, Attention: Mr. Rockford O. Kottka, and if to the Grantee or his
successor, to the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

2

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Alan D. Feld

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Alan D. Feld

  
											

 

 

3

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and John S. Gates, Jr.  (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 708  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified first-class
mail, postage prepaid and return receipt requested, or by telex or telecopy,
addressed as follows: if to the Company, to the Company’s principal office,
Attention: Mr. Rockford O. Kottka, and if to the Grantee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

2

 

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Michael M. Mullen

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Michael M. Mullen

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ John S.
  Gates, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: John S.
  Gates, Jr. 

  
												

 

 

3

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Donald A. King , Jr. (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 944  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the Company
deems advisable to assure compliance with all federal and state laws and
regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or
telecopy, addressed as follows: if to the Company, to the Company’s principal
office, Attention: Mr. Rockford O. Kottka, and if to the Grantee or his
successor, to the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record purposes
by giving notice in accordance with the provisions of this Section 13.

 

 

 

2

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Donald A.
  King, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Donald A. King, Jr.

  
											

 

 

 

3

 

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Thomas Robinson (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 472  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or
telecopy, addressed as follows: if to the Company, to the Company’s principal
office, Attention: Mr. Rockford O. Kottka, and if to the Grantee or his
successor, to the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

2

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  `Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Thomas Robinson

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Thomas Robinson

  
											

 

 

3

 

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and John C. Staley (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 472  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other
communications required or permitted under this Agreement shall be written, and
shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, or by telex or telecopy,
addressed as follows: if to the Company, to the Company’s principal office,
Attention: Mr. Rockford O. Kottka, and if to the Grantee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

 

2

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ John C. Staley

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: John C. Staley

  
											

 

 

3

 

 

CENTERPOINT PROPERTIES TRUST

2003
OMNIBUS EMPLOYEE RETENTION AND INCENTIVE PLAN

 

2005 COMPENSATION RESTRICTED SHARE AGREEMENT

 

THIS RESTRICTED SHARE AGREEMENT (the “Agreement”) is
dated as May 16, 2005 between CenterPoint Properties Trust, a Maryland real
estate investment trust (the “Company”), and Robert Stovall (the “Grantee”).

 

                                This
Agreement is made pursuant to, and is governed by, the CenterPoint
Properties Trust 2003 Omnibus Employee Retention and Incentive Plan (the “2003 Plan”).  Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Plan.  The purpose of this Agreement is to establish
a written agreement evidencing a grant of Restricted Shares made in accordance
with the terms of the Plan.  In this
Agreement, “Restricted Shares” means shares granted pursuant to this Agreement
or other securities resulting from an adjustment under Section 1.5 and 6.2 of
the 2003 Plan.

 

The parties agree as follows:

 

1.              Grant
of Restricted Shares.  The Company
hereby grants to the Grantee 472  Common Shares (the “Shares”)
under the terms and conditions hereof.

 

2.              Share
Price.  The share price of the
Shares is $42.36.

 

3.              Time
Goal.  Six months from date of
grant.

 

4.              Vesting.   Except as otherwise provided
in the 2003 Plan or in this Agreement, the Shares shall become vested as
follows:

 

(a)                                  Change
of Control.  Shares not
previously vested or forfeited shall become fully vested upon a Change of
Control as defined in the 2003 Plan.

 

(b)                                 Time
Goal.   Shares not previously vested or
forfeited shall become fully vested at the close of business on the eighth
anniversary of the date of this Agreement.

 

5.              Rights
of the Company.  This Agreement
does not affect the Company’s right to take any corporate action, including its
right to recapitalize, reorganize or consolidate, issue bonds, notes or stock,
including preferred stock or options therefore, to dissolve or liquidate, or to
sell or transfer any part of its assets or business.

 

6.              Taxes.  The Company may pay or
withhold the amount of any tax attributable to any Shares deliverable under
this Agreement or dividends payable thereon, and the Company may defer making
delivery or payment until it is indemnified to its satisfaction for that tax.

 

 

 

7.              Compliance
with Laws.  Shares can be
delivered under this Agreement only in compliance with all applicable federal
and state laws and regulations, including without limitation state and federal
securities laws, and the rules of all stock exchanges on which the common
shares are listed at any time.  Shares
may not be issued under this Agreement until the Company has obtained the
consent or approval of every regulatory body having jurisdiction over such
matters as the Company deems advisable. 
Each person or estate that acquired the right to receive shares by
bequest or inheritance may be required by the Company to furnish reasonable
evidence of ownership of the shares as a condition to their issuance.   In addition, the Company may require such
consents and releases of taxing authorities as the Company deems advisable.

 

8.              Stock
Legends.  Any certificate issued to
evidence the Shares issued shall bear such legends and statements as the
Company deems advisable to assure compliance with all federal and state laws
and regulations.

 

9.              No
Right of Employment.  Nothing in this
Agreement shall confer any right on an employee to continue in the employ of
the Company or shall interfere in any way with the right of the Company to
terminate such employee at any time.

 

10.       Amendment
of Agreement.  The Company may
alter, amend, or terminate this Agreement only with the Grantee’s consent,
except for adjustments expressly provided by this Agreement.

 

11.       Miscellaneous.  This Agreement is subject to and controlled
by the 2003 Plan.  In the case of any
inconsistency between this Agreement and the 2003 Plan, the terms of the 2003
Plan shall govern.  This Agreement is the
final, complete, and exclusive expression of the understanding between the
parties and supersedes any prior or
contemporaneous agreement or representation, oral or written, between
them.  Modification of this Agreement or
waiver of a condition herein must be written and signed by the party to be
bound.  In the event that any paragraph
or provision of this Agreement shall be held to be illegal or unenforceable,
such paragraph or provision shall be severed from the Agreement and the entire
Agreement shall not fail on account thereof, but shall otherwise remain in full
force and effect.

 

12.       Notices.  All notices and other communications
required or permitted under this Agreement shall be written, and shall be
either delivered personally or sent by registered or certified first-class
mail, postage prepaid and return receipt requested, or by telex or telecopy,
addressed as follows: if to the Company, to the Company’s principal office,
Attention: Mr. Rockford O. Kottka, and if to the Grantee or his successor, to
the address last furnished by such person to the Company.  Each such notice and communication delivered
personally shall be deemed to have been given when delivered.  Each such notice and communication given by
mail shall be deemed to have been given when it is deposited in the United
States mail in the manner specified herein, and each such notice and
communication given by telex or telecopy shall be deemed to have been given
when it is so transmitted and the appropriate confirmation is received.  A party may change its address for record
purposes by giving notice in accordance with the provisions of this Section 13.

 

 

2

 

 

IN
WITNESS WHEREOF, the Grantee and the
Company have executed this Agreement as of the date first written above.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CENTERPOINT PROPERTIES
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   Rockford O. Kottka

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its: 

  	
  Chief Accounting Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GRANTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Robert Stovall

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Print Name: Robert Stovall

  
												

 

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}]]