Document:

Exhibit 10.16

COGDELL SPENCER, INC.

COGDELL SPENCER LP

One Erdman Place

Madison, Wisconsin 53717

March 10, 2008

Baird Capital Partners

777 East Wisconsin Avenue

P.O. Box 0672

Milwaukee, WI 53201

Attn: Dave Pelisek

Lubar & Co.

700 North Water Street

Suite 1200

Milwaukee, WI 53202

Marshall Erdman & Associates, Inc.

P.O. Box 44975

Madison, WI 53744

Attn: Scott Ransom

Re: Contribution Agreements

Gentlemen:

     Reference is made to the contribution agreements (collectively, the “Contribution
Agreements”) entered into by each of the persons set forth on Annex A attached hereto
(the “Contributors”) on the one hand and Cogdell Spencer, Inc. and Cogdell Spencer LP on
the other. Unless otherwise defined in this letter agreement, capitalized terms have the same
meaning herein as in the Contribution Agreements.

     1. Imputed Interest. For the avoidance of doubt, this letter confirms the
understanding of the parties that the payment mechanism contemplated by Section 1(ii) of each of
the Contribution Agreements is as follows. Since any funds released from escrow in respect of the
shares of MEA Holdings, Inc. that are not being contributed pursuant to the Contribution Agreement
will include an interest component, the amount of OP Units required to be delivered pursuant to
Section 1(ii) of the Contribution Agreements will also include an amount in respect of that
interest component. For example, if a release from escrow equals $5.00 per share plus interest
earned on the escrowed funds of $0.10 per share, the Contributor will be entitled to receive OP
Units with a value (based on $17.01 per Unit) of $5.10 per contributed share.

     2. Representations and Warranties. Cogdell Spencer LP hereby represents and warrants
that the OP Units to be issued to each Contributor will be duly and validly authorized and issued
free from liens or encumbrances other than (i) those provided for in the Agreement of Limited
Partnership of Cogdell Spencer LP, as amended, as in effect on the date of issuance and (ii)
restrictions on transfers imposed under applicable federal and state securities laws.

 

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	COGDELL SPENCER, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Frank Spencer	 	 
	 	 	Title: President and CEO	 	 
	 
	 	 	 	 	 	 
	 	 	COGDELL SPENCER LP	 	 
	 
	 	 	 	 	 	 
	 	 	By: CS Business Trust I, its General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	By: Cogdell Spencer, Inc., its Sole Beneficial
Owner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Frank Spencer	 	 
	 	 	Title: President and CEO	 	 

[Signature Page to Contribution Agreement Letter]

 

 

Acknowledged and agreed by the individuals listed below,

 as Seller
Representative, acting in its capacity as representative on

 behalf of each of
the Contributors as of March ___, 2008:

			
	 

David P. Pelisek

	 	 
	 
	 

David J. Lubar

	 	 
	 
	 

Scott A. Ransom

	 	 

[Signature Page to Contribution Agreement Side Letter]

 

 

ANNEX A

David R. Anderson

Edward D. Anderson

Charles H. Auerbach

Baird Capital Partners III Limited Partnership

BCP III Affiliates Fund Limited Partnership

BCP III Special Affiliates Fund Limited Partnership

Alan D. Beckner

James Brownsmith

Paul R. Clark

Timothy Erdman

Douglas A. Furry

Allen E. Hadden

Brian L. Happ

Kurtis M. Helin

Roger L. Herritz

John L. Hetland

Julia A. Houck

Thomas Jeffries

Patricia LaForge

James A. Lawrimore

Ralph W. Lomma

Lubar Capital, LLC

Stephen J. Mason

David R. Miller

Kenneth N. Missler

Jeffrey L. Nicholas

William L. Peel, Jr.

Steven C. Peterson

Thomas G. Platz

Jennifer L. Pliskie

Scott A. Ransom

Gregg F. Redfern

Scott R. Saunders

Clark J. Solowicz

John R. Stone

Mark A. Trotter

Laura M. Wallenfang

Ronald J. Wanke

Steven L. Wolters

Eli E. WoykeEX-10.A.II AMENDMENT NO. 1 TO 1999 STOCK INCENTIVE

EXHIBIT 10(a)(ii)

AMENDMENT NUMBER ONE

TO THE

COUSINS PROPERTIES INCORPORATED

1999 INCENTIVE STOCK PLAN

(As Amended and Restated Effective as of May 6, 2008)

     Pursuant to § 16 of the Cousins Properties Incorporated 1999 Incentive Stock Plan (“Plan”),
Cousins Properties Incorporated hereby amends the Plan, as follows:

§1.

By amending the second sentence of § 7.4, Option Price, to read as follows:

“The Option Price shall be payable in full upon the exercise of any Option, and at
the discretion of the Committee an Option Certificate can provide for the payment of
the Option Price either in case, by check or in Stock which is acceptable to the
Committee or in any combination of cash, check and such Stock.”

§6

     Except as otherwise expressly amended by this Amendment, all the provisions of the Plan shall
remain in full force and effect.

     IN WITNESS WHEREOF, Cousins Properties Incorporated has caused this Amendment to be executed
by its duly authorized officer as of this 6th day of May, 2008.

	 	 	 	 	 
	 	COUSINS PROPERTIES INCORPORATED

 	 
	 	By:  	/s/ Robert M. Jackson
 	 
	 	 	Title:  	Senior Vice President, General Counsel and 
	 	 	 	Corporate SecretaryExhibit 10.51

Exhibit 10.51

Summary of 2008 Executive Retention Program

Design Principles: 

	•	 	To retain executives during the anticipated 2008 restructuring.

	 
	•	 	Provide clear criteria and guidelines to ensure consistent administration

Eligibility Criteria: 

	•	 	Executives in the executive compensation program who are not covered by an employment
agreement that provides for cash and equity awards.

	 
	•	 	Executives whose continued service in 2008 is categorized as essential, necessary or
valued.

Program Components: Executives that meet the criteria above are eligible to receive a
guaranteed cash and equity award based on the determined need and expected contribution of their
position in 2008.

	•	 	Restricted Stock Awards will be awarded to executives identified as essential or necessary
with a three year cliff vest. Amounts are determined on an individual basis.

	 
	•	 	Guaranteed cash awards will be available to participants with a two-part payment
opportunity at June 30, 2008 and December 31, 2008. Amounts are determined on an individual
basis.

Effects of Termination:

	•	 	If the individual is separated* for reasons other than cause on or before December 31,
2008, he/she will receive both (or any unpaid) portions of the guaranteed cash bonus in the
first pay period following separation.

	 
	•	 	If an executive voluntarily resigns in 2008, he/she forfeits any unpaid portion of the
guaranteed cash bonus.

	 
	•	 	If an executive is terminated for cause, he/she forfeits any unpaid portion of the
guaranteed cash bonus.

	 
	•	 	Unvested equity will be governed by the terms of the 2006 Long Term Stock Incentive Plan
and agreements issued thereunder.

The CEO and VP HR will manage this program within Board approved parameters.

 

* Termination of executive by the Company in conjunction with an offer of employment by a successor
company to the Company in substantially the same position with substantially the same total
compensation shall not constitute ‘separation’ for purposes of this program regardless of whether
such an offer is accepted.Exhibit 10.52

Exhibit 10.52

Summary of 2008 Executive Severance Program

Design Principles: 

	•	 	Provide a reasonable amount of financial security during the individual’s transition to
other employment due to an involuntary separation.

	 
	•	 	Recognize a combination of the individual’s position / level and length of service.

	 
	•	 	Provide clear criteria, guidelines and eligibility schedule to ensure consistent
administration.

Eligibility Criteria: 

	•	 	Executives in the executive compensation / benefit program whose employment is terminated
at any time on or before December 31, 2008, without cause, including reduction in force,
restructuring or mandatory relocation of more than 50 miles.*

	 
	•	 	Executives with employment agreements providing severance pay terms are not eligible for
this program unless there is a cancellation of the existing agreement.

	 
	•	 	Executives who are terminated for cause are not eligible for this program.

	 
	•	 	Voluntary resignations do not qualify under this program.

Eligibility Schedule: Executives that meet the criteria above are eligible to receive a
severance payment equivalent to the number of months indicated in the chart below. Severance will
be determined based on position / level and years of service.

	•	 	Executive Vice Presidents and Senior Vice Presidents that report to the CEO are eligible
for the severance amounts in Column I below.

	 
	•	 	All other Senior Vice Presidents and Vice Presidents are eligible for the amounts in Column
II.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Months of Severance Pay
	 	 	 	 	EVP / SVP	 	SVP / VP (Top Tier)
	Years of Service	 	 	 	Column I	 	Column II
	less than 1 year	 	 
	 	 	12	 	 	 	10	 
	1-3.99 years	 	 
	 	 	13	 	 	 	11	 
	4 - 6.99 years	 	 
	 	 	15	 	 	 	13	 
	7-8.99 years	 	 
	 	 	16	 	 	 	14	 
	9 or more	 	 
	 	 	18	 	 	 	16	 

Components of the Severance Program: 

	•	 	Severance includes base salary and an additional benefit providing for an equivalent number
of months of targeted cash bonus (targeted cash bonus / 12). Those with sales compensation
packages will receive 50% of their targeted cash bonus (50% of targeted cash bonus / 12).

	 
	•	 	During the severance period, participants will receive COBRA benefits (provided they are
eligible for COBRA) at the active employee rate.

	 
	•	 	Participants will receive a 12 month executive outplacement program provided by a firm of
the Company’s choosing.

Waiver and General Release: The severance payment and other benefits are contingent upon
a signed (and unrescinded) non-compete agreement and general release of all claims against Triad in
a form acceptable to Triad.

The CEO and VP HR will manage this program within Board approved parameters.

 

* Termination of executive by the Company in conjunction with an offer of employment by a successor
company to the Company in substantially the same position with substantially the same total
compensation shall not constitute an ‘involuntary separation’ for purposes of this program
regardless of whether such an offer is accepted.

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