Document:

exhibit10_17.htm

    
      

      

    

    AMENDMENT
      TO REGISTRATION RIGHTS AGREEMENT

    

    

    

    THIS
      AMENDMENT (the "Amendment") dated
      as of December 31, 2001 (the "Effective Date") to the Registration Rights
      Agreement dated as of January 8, 1998 (as modified by Waiver and Amendment
      dated
      September 14, 2001, the "Registration Rights Agreement"), is made by and among
      Urstadt Biddle Properties Inc. (formerly "HRE Properties, Inc." and hereinafter
      referred to as the "Company") and Wells Fargo & Company and Retirement Plan
      of The Bank of New York Company, Inc. (each individually a "Remaining Initial
      Purchaser" and collectively, the "Remaining Initial Purchasers").

    

    

    WITNESSETH

    

    

    WHEREAS,
      Borrower, Cobalt Capital LLC
      ("Cobalt" and previously also an Initial Purchaser), together with the Remaining
      Initial Purchasers, entered into the Registration Rights Agreement;
      and

    

    WHEREAS,
      in November, 2001, at the
      request of Cobalt, the Company repurchased all of Cobalt's shares of the
      Preferred Stock and retired such stock so that as of the Effective Date all
      of
      the shares of Preferred Stock are owned by the Remaining Initial Purchasers;
      and

    

    WHEREAS,
      the Company and the Remaining
      Initial Purchasers wish to amend the Registration Rights Agreement.

    

    NOW
      THEREFORE, for good and valuable
      consideration, the parties hereto agree as follows:

    

    1.           Capitalized
      terms used but not defined herein shall have the meanings given to them in
      the
      Registration Rights Agreement.  As used in the Registration Rights
      Agreement, the terms "Purchasers" and "Initial Purchasers" hereafter shall
      include the "Remaining Initial Purchasers", but shall no longer include
      Cobalt.

    

    2.        
       Registration
      of the
      Preferred Stock.  Upon the Effective Date, Section 2(a) of the
      Registration Rights Agreement is deleted in its entirety and is replaced with
      the following:

    

    "(a)           Upon
      receipt of a written request from either of the Remaining Initial Purchasers
      that the Company register the Preferred Stock, the Company shall prepare and
      file with the Commission a Registration Statement under the Securities Act
      relating to the offer and sale of the Registrable Securities and shall use
      its
      reasonable best efforts to cause the Commission to declare such Registration
      Statement to be effective under the Securities Act within ninety (90) days
      after
      receipt of such written request, all in accordance with the terms of this
      Agreement."

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    3.          
      Listing
      of the Preferred
      Stock..  Upon the Effective Date, Section 3(g) of the
      Registration Rights Agreement is deleted in its entirety and is replaced with
      the following:

    

    "(g)   upon
      the Commission declaring effective any Registration Statement relating to the
      offer and sale of the Registrable Securities, use its reasonable best efforts
      to
      cause the listing of the Preferred Stock on the New York Stock Exchange, Inc.
      (the "NYSE") or, if the Preferred Stock shall not then be eligible for listing
      on the NYSE, to apply for listing of the Preferred Stock on the American Stock
      Exchange, Inc. (the "AMEX") or, if the Preferred Stock shall not then be
      eligible for listing on the AMEX, to apply for quotation of the Preferred Stock
      through the National Association of Securities Dealers, Inc. Automated Quotation
      System (the date of any such listing, the "Listing Date");"

    

    4.  
Miscellaneous.  (a)  The
      Registration Rights Agreement, as amended by this Amendment, is and shall
      continue to be in full force and effect and is hereby in all respects ratified
      and confirmed.  On and after the Effective Date, each reference in the
      Registration Rights Agreement to "this Agreement", "hereunder", "hereof" or
      words of like import referring to the Registration Rights Agreement shall be
      a
      reference to the Registration Rights Agreement as amended by this
      Amendment.

    

    (b)           This
      Amendment may be executed in any number of counterparts, each of which shall
      be
      and shall be taken to be an original, and all such counterparts shall together
      constitute one and the same instrument.

    

    (c)           This
      amendment shall be construed in accordance with and governed by the law of
      the
      State of New York without giving effect to the conflict of laws principles
      thereof.

    

    

    

    

    

     

    THIS
      SPACE LEFT BLANK

    INTENTIONALLY

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Company and the Remaining Initial Purchasers have caused
      this Amendment to be executed as of the date first above written.

    

    

    URSTADT
      BIDDLE PROPERTIES INC.

    

    

    By:  /s/
      James R.
      Moore__________

           
Name:  James
      R. Moore

           
Title:  Executive
      Vice President

    

    

    

    WELLS
      FARGO & COMPANY

    

    

    By: 
      /s/ Roger
      Wittlin____________

          
Name:  Roger
      Wittlin

          
Title:  Senior
      Vice President

    

    

    RETIREMENT
      PLAN OF THE BANK OF NEW YORK

    COMPANY,
      INC.

    

    By:  The
      Bank of New York, as Trustee

    

    

    

    By:  /s/
      Mark A.
      Hemenetz_________

           
Name:  Mark
      A. Hemenetz

           
Title:  Executive
      Vice Presidentexhibit10_18.htm

    
      

      

    

    FORM
      OF

    RESTRICTED
      STOCK AWARD AGREEMENT

    (Employees)

    

    

    THIS
      RESTRICTED STOCK AWARD AGREEMENT
      (the "Agreement") entered into as of the  day of January,
      20 , by and between Urstadt Biddle Properties Inc., a Maryland
      corporation (the "Company"), and , an individual employed by the
      Company (the "Participant").

     

    WITNESSETH:

    

    

    WHEREAS,
      the Company has adopted,
      through appropriate action of its Board of Directors, the Urstadt Biddle
      Properties Inc. Amended and Restated Restricted Stock Award Plan (as amended,
      the "Plan"); and

    

    WHEREAS,
      the Company desires to grant a
      Restricted Stock Award to the Participant under the Plan on the terms and
      conditions hereinafter set forth; and

    

    WHEREAS,
      the Participant desires to
      accept such Restricted Stock Award of the Company subject to the terms and
      conditions of this Agreement and the Plan;

    

    NOW,
      THEREFORE, in consideration of the
      promises and the mutual covenants hereinafter contained, and other good and
      valuable consideration, receipt of which is hereby acknowledged, the Company
      and
      the Participant do mutually covenant and agree as follows:

    

    

    1.           Grant
      of Restricted Stock.  Subject to the terms and conditions
      hereinafter set forth, the Participant is hereby granted a Restricted Stock
      Award of Class A Common Shares, par value $.01 per share, of the
      Company (the "Restricted Stock").

    

    2.           Issuance
      of Restricted Stock.  The number of shares of Restricted Stock
      granted under Section 1 hereof shall be recorded on the books of the Company
      in
      the name of the Participant.  The Company shall instruct its stock
      transfer agent to place a stop transfer order on the Restricted Stock until
      such
      time as the Restrictions thereon shall lapse.  In the event that the
      Participant shall forfeit all or any portion of the Restricted Stock, the shares
      which are forfeited automatically shall be transferred back to the
      Company.

    

    3.          
      Vesting.   The
      Participant shall vest in the Restricted Stock Award granted hereunder, and
      all
      Restrictions thereon shall lapse, upon the fifth anniversary of the date of
      grant hereunder if the Participant is still employed by the Company on that
      date.  Except as provided in Paragraph 4(b) and (c) below, prior to
      such fifth anniversary, no portion of the Restricted Stock Award shall be
      vested.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    4.           Termination
      of Employment During the Restricted Period.

    

    In
      the
      event that during the term of the Restricted Period the Participant’s status as
      an employee of the Company terminates:

     

    
      	
              (a)  

            	
              for
                any reason other than death, Disability or Retirement, the Participant
                shall forfeit any and all Restricted Stock Awards whose Restrictions
                have
                not lapsed; or,

            

    

    

    
      	
              (b)  

            	
              by
                reason of death or Disability, the Restrictions on any and all Awards
                shall lapse on the date of such termination;
                or,

            

    

     

    
      	
              (c)  

            	
              by
                reason of Retirement, all Awards shall continue to vest as if Retirement
                had not occurred until such time as the Restrictions lapse; provided,
                however, that if the retired Participant, prior to the completion
                of any
                or all Restricted Periods, accepts employment or provides services
                to any
                organization other than the Company that is engaged primarily in
                the
                ownership and/or management or brokerage of shopping centers in The
                New
                York – Northern New Jersey – Long Island, NY-NJ-CT-PA, Metropolitan
                Statistical Area as defined by the Bureau of Labor Statistics, the
                Participant will forfeit any and all Restricted Stock Awards whose
                Restrictions have not lapsed.

            

    

     

    5.           Forfeiture.  All
      shares of non-vested Restricted Stock shall be automatically forfeited to the
      Company if the Board of Directors of the Company determines that the Participant
      has breached a material contract obligation to the Company including, without
      limitation, material provisions in any employment or confidentiality
      agreement.

    

    6.           Rights
      to Dividends.  Subject to the terms and conditions hereof, during
      the Restricted Period the Participant shall have the right to receive any
      dividends declared and other distributions paid with respect to the shares
      of
      Restricted Stock as such are declared and paid to shareholders with respect
      to
      Common Shares and Class A Common Shares of the Company generally.

    

    7.           Withholding
      Tax Liability.  The Company shall have the right to withhold any
      income or other taxes due upon transfer of shares to the Participant or the
      lapse of Restrictions, including the right to withhold shares or sell shares
      where appropriate.

    

    8.           Transfer
      Restrictions.  The shares of Restricted Stock may not be
      transferred, assigned, pledged, hypothecated or otherwise encumbered, and shall
      not be subject to execution, attachment, garnishment or other similar legal
      processes.  Upon any attempt to transfer, assign, pledge, hypothecate
      or otherwise encumber or dispose of such shares, the shares immediately shall
      be
      forfeited to the Company.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    9.           Construction;
      No Contract of Employment.  Nothing contained in this Agreement,
      nor the granting of the Restricted Stock Award hereunder, shall be construed
      as
      giving the Participant or any other person any legal or equitable rights against
      the Company or any subsidiary or any director, officer, employee or agent
      thereof, except for those rights as are herein provided.  Under no
      circumstances shall this Agreement be construed as an express or implied
      contract of continuing employment for the Participant, nor shall the Restricted
      Stock Award granted hereunder in any manner obligate the Company, or any
      subsidiary or affiliate of the Company, to continue the employment of the
      Participant.

    

    10.         Miscellaneous.  This
      Agreement is subject to the terms and conditions of the Plan, as the Plan may
      be
      from time to time amended.  The provisions of the Plan are
      incorporated herein by reference, and the capitalized terms used but undefined
      herein shall have the same meanings as set forth in the Plan.  The
      Participant acknowledges receipt of a copy of the Plan and agrees to be bound
      by
      all the terms and provisions thereof.  Any inconsistency between this
      Agreement and the Plan shall be resolved in favor of the Plan.

    

    

    

    URSTADT
      BIDDLE PROPERTIES
      INC.

    

    

    By________________________________

    Name:                   

    Title:

    

    

    PARTICIPANT

    

    

    ___________________________________

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