Document:

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                                                                   Exhibit 10.30

March 22, 2002

Mr. C. Ronald Blankenship
c/o Security Capital Group Incorporated
125 Lincoln Avenue
Santa Fe, New Mexico  87501

Dear Mr. Blankenship:

               As you know, Security Capital Group, Inc.(the "Company") has
agreed to merge with an indirect subsidiary of General Electric Capital
Corporation ("GE Capital") pursuant to the terms of an Agreement and Plan of
Merger, dated as of December 14, 2001, by and among the Company, GE Capital and
EB Acquisition Corp. (the "Merger Agreement"). (Capitalized terms not otherwise
defined in this Agreement shall have the meaning assigned to them in the Merger
Agreement). The Company desires to continue your employment in order to avail
itself of your expertise, knowledge and experience with respect to matters
relating to the Company and its business and to assist in the integration of the
Company and GE Capital. Subject to the terms and conditions set forth below, we
are pleased to offer you employment with the Company after the Merger as
follows:

               1. Termination of, and Waiver of Payment Under, the Change in
Control Agreement and Term Sheet. As of the date hereof, all of your and all of
the Company's and GE Capital's rights, duties, commitments and other obligations
pursuant to the letter agreement, the attached term sheet and the letter
agreement concerning equity compensation, each dated December 14, 2001 between
you and GE Capital (the "Letter Agreement and Term Sheet") shall be terminated
and discharged and of no further force and effect. Immediately prior to the
occurrence of the Effective Time, your Change in Control Agreement dated
November 29, 2001 between you and the Company (the "Change in Control
Agreement"), shall be terminated and discharged and of no further force and
effect.

               2. Employment and Term. Subject to the terms and conditions set
forth in this agreement (the "Agreement"), the Company agrees to employ you, and
you agree to be employed by the Company, for a period of one year commencing on
the Effective Time (the "Term").

              3. Duties. For so long as you remain employed by the Company
during the Term pursuant to this Agreement, you will be responsible for
providing transition services to the Company and GE Capital in connection with
the acquisition by GE Capital of the Company, including assisting in the
integration of the Company and GE Capital and completing ongoing projects
(including the acquisition of Storage USA and

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the implementation of the business plan) and performing those duties which are
substantially similar to the duties you performed immediately prior to the
Effective Time, taking into account the Merger and the fact that following the
Effective Time, the Company no longer will be a stand-alone publicly traded
company. You shall perform your duties in a manner that is consistent and in
compliance with GE Capital's integrity policy: Integrity: The Spirit and the
Letter of Our Commitment, a copy of which has been provided to you. During your
employment pursuant to this Agreement, you may engage in business, civic,
charitable, personal and industry obligations and endeavors so long as they do
not, in your good faith judgement, individually or in the aggregate, interfere
with the proper performance of your services hereunder or otherwise violate this
Agreement.

               4. Compensation; Expenses; Administrative Support; Benefit Plans.

               (a) Salary. For so long as you are employed by the Company
during the Term, the Company shall pay you, and you shall accept from the
Company for your services, a salary at the rate of one million, nine hundred and
seventy-three thousand dollars ($1,973,000) per annum (the "Salary"), payable in
accordance with the Company's policy with respect to the payment of base
salaries of its senior executives but not less frequently than monthly (less any
applicable withholding taxes).

               (b) Reimbursement of Expenses. For so long as you are employed
by the Company during the Term, you will be entitled to receive prompt
reimbursement for all expenses incurred by you in performing your services
hereunder in accordance with the policies and procedures of the Company as in
effect for its senior executives from time to time.

               (c) Administrative Support. For so long as you are employed by
the Company during the Term, the Company shall provide you with office
accommodations and secretarial, computer and other support no less favorable in
your judgment than that provided to you by the Company prior to the Effective
Time. In addition, the Company will make available to you aircraft for business
and personal use on the same terms and frequency as provided to you by the
Company prior to the Effective Time, including the same plane and flight
personnel (or if such plane or personnel are not available, substitutes
reasonably acceptable to you).

               (d) Welfare Benefit; Other Fringe Benefits. For so long as you
are employed by the Company during the Term, you shall be entitled to receive
welfare benefits (including, without limitation, medical insurance, disability
income protection, life insurance coverage and death benefits) no less favorable
than the welfare benefits provided to you and your spouse and dependents by the
Company prior to the Effective Time. In addition, for so long as you are
employed by the Company during the Term, the Company shall provide you with such
other benefits and fringes that are no less favorable than those provided to you
by the Company prior to the Effective Time or, if better, than those provided to
peer executives of GE Capital.

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               (e) Deferred Compensation Plan. The Company shall continue to
maintain in effect the SCGroup Incorporated Nonqualified Savings Plan (the
"NSP") in accordance with Section 6.6(c) of the Merger Agreement. The Company
shall allow you to defer under the NSP all amounts payable under this agreement
or the non-competition letter agreement dated as of the date hereof (the
"Non-Competition Letter Agreement") in accordance with the terms of the NSP.

               (f) Bonus Payment. If the Effective Time occurs on or after
May 1, 2002, upon the Effective Time the Company shall pay you, and you shall
accept from the Company for your services, a cash payment equal to (1) $3,556.16
times (2) the number of days from May 1, 2002 through the date on which the
Effective Time occurs (inclusive of each such date) (less any applicable
withholding taxes).

               5. At Will Employment; Termination of Employment Relationship.
You acknowledge that your employment with the Company is "at will." Either you
or the Company may terminate your employment hereunder at any time during the
Term by providing the non-terminating party with 30 days prior notice of such
termination, in a written notice to the other party complying with the
requirements of paragraph 10 below.

               (a) Termination. For purposes of this Agreement, the term
"Termination" shall mean termination of your employment during the Term (i) by
the Company (or by a successor to the Company), or by an affiliate of the
Company, which for purposes of this Agreement shall mean any entity controlled
by, or under common control with, the Company), for any reason other than death,
Disability (as defined below), or Cause (as defined below), or (ii) by
resignation by you. For purposes of this Agreement, you shall be considered to
have a "Disability" during the period in which you are unable, by reason of a
medically determinable physical or mental impairment (determined by a physician
selected by you), to engage in the material and substantial duties of your
regular occupation, which condition is expected to be permanent. For purposes of
this Agreement, the term "Cause" means, in the reasonable judgment of the Board
of Directors of the Company, (i) your willful and continued failure to
substantially perform your duties with the Company after written notification by
the Company, (ii) your willfully engaging in conduct which is demonstrably
injurious to the Company, monetarily or otherwise, or (iii) your engaging in
egregious misconduct involving serious moral turpitude. For purposes of this
Agreement, no act, or failure to act, on your part shall be deemed "willful"
unless done, or omitted to be done, by you not in good faith and without
reasonable belief that such action was in the best interest of the Company.

               (b)  Death.  Your employment shall terminate upon your death.

               (c) Date of Termination. "Date of Termination" shall mean (i)
if your employment is terminated by your death, the date of your death and (ii)
if your employment is terminated pursuant to paragraph 5(a), by the Company for
Cause or due to your Disability, or after the expiration of the Term, 30 days
after the date on which a notice of termination is given.

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               6. Effect of Termination of Employment.

               (a) Termination. In the event of a Termination (within the
meaning of paragraph 5(a) hereof) during the Term, then the Company shall (i)
pay you your accrued and unpaid Salary and all other accrued obligations of the
Company (including, without limitation, vacation and expense reimbursements)
(collectively, the "Accrued Obligations") through the Date of Termination as
soon as practicable but in no event more than thirty (30) days following your
Date of Termination; and (ii) provide you with continuation of welfare benefits
and other fringe benefits required to be provided under paragraph 4(d) for the
period commencing on the Date of Termination and ending on the date which is
three years from the expiration of the Term, and the Company and you shall share
the costs of the continuation of such insurance coverage in the same proportion
as such costs were shared immediately prior to the Date of Termination;
provided, however, if you cannot continue to participate in the policies of the
Company or its affiliates providing such benefits, the Company shall otherwise
provide such benefits outside of the policies on the same after-tax basis as if
participation had continued. In addition, you shall be entitled to your vested
benefits, if any, under the terms of any employee benefit plans maintained by
the other Company or any of its affiliates in accordance with the terms of such
plans, including, without limitation, under the NSP (collectively, the "Vested
Benefits").

               (b) Death or Disability. In the event of your termination of
employment due to death or Disability (within the meaning of paragraph 5(a)
hereof) during the Term, then the Company shall (i) pay you or your estate the
Accrued Obligations through the Date of Termination as soon as practicable but
no more than thirty (30) days after the Date of Termination, (ii) pay you or
your estate your Salary through the remainder of the Term in accordance with the
Company's normal payroll practices; and (iii) provide you or your eligible
beneficiaries with continuation of welfare benefits and other fringe benefits
required to be provided under paragraph 4(d) for the period commencing on the
Date of Termination and ending on the date which is three years from the
expiration of the Term, and the Company and you shall share the costs of the
continuation of such insurance coverage in the same proportion as such costs
were shared immediately prior to the Date of Termination; provided, however, if
you or your eligible beneficiaries cannot continue to participate in the
policies of the Company or its affiliates providing such benefits, the Company
shall otherwise provide such benefits outside of the policies on the same
after-tax basis as if participation had continued. In addition, you or your
designated beneficiaries shall be entitled to your Vested Benefits, if any.

               (c) Cause. In the event of your termination of employment by
the Company for Cause (within the meaning of paragraph 5(a) hereof) during the
Term, then the Company shall pay you the Accrued Obligations through the Date of
Termination as soon as practicable but in no event more than thirty (30) days
following your Date of Termination. In addition, you shall be entitled to your
Vested Benefits, if any.

               (d) Expiration of Agreement. In the event your employment with
the Company is terminated by you or the Company for any reason other than Cause
upon or

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following the completion of the Term, then the Company shall (i) pay you the
Accrued Obligations through the Date of Termination as soon as practicable but
in no event more than thirty (30) days following your Date of Termination, (ii)
provide you with continuation of welfare benefits and other benefits and
perquisites provided under paragraph 4(d) for the period commencing on the date
your employment with the Company is terminated and ending on the date which is
three years following the expiration of the Term, and the Company and you shall
share the costs of the continuation of such insurance coverage in the same
proportion as such costs were shared immediately prior to the Date of
Termination; provided, however, if you cannot continue to participate in the
policies of the Company or its affiliates providing such benefits, the Company
shall otherwise provide such benefits outside of the policies on the same
after-tax basis as if participation had continued. In addition, you shall be
entitled to your Vested Benefits, if any.

               (e) Outplacement Services. If your Date of Termination occurs
during the Term, at your election, the Company shall provide you with
outplacement service of an experienced firm selected by the Company and
acceptable you located not more than fifty miles from the location of your
office immediately prior to the Effective Date, provided that the cost of such
services shall not exceed $25,000 and such services shall not extend beyond 36
months from your Date of Termination.

               7. Deductions and Withholdings. The Company shall be entitled to
withhold any amounts payable under this Agreement on account of payroll taxes
and similar matters as are required by applicable law, rule or regulation of
appropriate governmental authorities.

               8. Make-Whole Payments. If any payment or benefit from the
Company, GE Capital or any of their respective affiliates to which you are
entitled, whether under this Agreement or otherwise, including, without
limitation, under the Non-Competition Letter Agreement, (a "Payment") is subject
to any tax under section 4999 of the Internal Revenue Code of 1986, as amended
(the "Code"), or any similar federal or state law (an "Excise Tax"), the Company
shall pay to you an additional amount (the "Make Whole-Amount") which is equal
to (i) the amount of the Excise Tax, plus (ii) the aggregate amount of any
interest, penalties, fines or additions to any tax which are imposed in
connection with the imposition of such Excise Tax, plus (iii) all income, excise
and other applicable taxes imposed on you under the laws of any Federal, state
or local government or taxing authority by reason of the payments required under
clause (i) and clause (ii) and this clause (iii).

               (a) For purposes of determining the Make-Whole Amount, you
shall be deemed to be taxed at the highest marginal rate under all applicable
local, state, federal and foreign income tax laws for the year in which the
Make-Whole Amount is paid. The Make-Whole Amount payable with respect to an
Excise Tax shall be paid by the Company coincident with the Payment with respect
to which such Excise Tax relates.

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               (b) All calculations under this paragraph shall be made
initially by the Company and the Company shall provide prompt written notice
thereof to you to enable you to timely file all applicable tax returns. Upon
your request , the Company shall provide you with sufficient tax and
compensation data to enable you or your tax advisor to independently make the
calculations described in subparagraph (a) above and the Company shall reimburse
you for reasonable fees and expenses incurred for any such verification.

               (c) If you give written notice to the Company of any objection
to the results of the Company's calculations within 60 days of your receipt of
written notice thereof, the dispute shall be referred for determination to tax
counsel selected by the independent auditors of the Company ("Tax Adviser"). The
Company shall pay all reasonable fees and expenses of such Tax Adviser. Pending
such determination by the Tax Adviser, the Company shall pay you the Make-Whole
Amount as determined by it in good faith. The Company shall pay you any
additional amount determined by the Tax Adviser to be due under this paragraph
(together with interest thereon at a rate equal to l20% of the Federal
short-term rate determined under section 1274(d) of the Code) promptly after
such determination.

               (d) The determination by the Tax Adviser shall be conclusive
and binding upon all parties unless the Internal Revenue Service, a court of
competent jurisdiction, or such other duly empowered governmental body or agency
(a "Tax Authority") determines that you owe a greater or lesser amount of Excise
Tax with respect to any Payment than the amount determined by Tax Counsel.

               (e) If a Taxing Authority makes a claim against you which, if
successful, would require the Company to make a payment under this paragraph,
you agree to contest the claim, with counsel reasonably satisfactory to the
Company, on request of the Company subject to the following conditions:

               (i) You shall notify the Company of any such claim within 10 days
of becoming aware thereof. In the event that the Company desires the claim to be
contested, it shall promptly (but in no event more than 30 days after the notice
from you or such shorter time as the Taxing Authority may specify for responding
to such claim) request that you contest the claim. You shall not make any
payment of any tax which is the subject of the claim before you have given the
notice or during the 30-day period thereafter unless you receive written
instructions from the Company to make such payment together with an advance of
funds sufficient to make the requested payment plus any amounts payable under
this paragraph determined as if such advance were an Excise Tax, in which case
you will act promptly in accordance with such instructions.

               (ii) If the Company so requests, you will contest the claim by
either paying the tax claimed and suing for a refund in the appropriate court or
contesting the claim in the United States Tax Court or other appropriate court,
as directed by the Company; provided, however, that any request by the Company
for you to pay the tax shall be accompanied by an advance from the Company to
you of funds sufficient to

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make the requested payment plus any amounts payable under this paragraph
determined as if such advance were subject to an Excise Tax. If directed by the
Company in writing you will take all action necessary to compromise or settle
the claim, but in no event will you compromise or settle the claim or cease to
contest the claim without the written consent of the Company; provided, however,
that you may take any such action if you waive in writing your right to a
payment under this paragraph for any amounts payable in connection with such
claim. You agree to cooperate in good faith with the Company in contesting the
claim and to comply with any reasonable request from the Company concerning the
contest of the claim, including the pursuit of administrative remedies, the
appropriate forum for any judicial proceedings, and the legal basis for
contesting the claim. Upon request of the Company, you shall take appropriate
appeals of any judgment or decision that would require the Company to make a
payment under this paragraph. Provided that you are in compliance with the
provisions of this section, the Company shall be liable for and indemnify you
against any loss in connection with, and all costs and expenses, including
attorneys' fees, which may be incurred as a result of, contesting the claim, and
shall provide to you within 30 days after each written request therefor by you
of cash advances or reimbursement for all such costs and expenses actually
incurred or reasonably expected to be incurred by you as a result of contesting
the claim.

               (e) Should a Tax Authority finally determine that an
additional Excise Tax is owed, then the Company shall pay an additional
Make-Whole Amount to you in a manner consistent with this paragraph with respect
to any additional Excise Tax and any assessed interest, fines, or penalties. If
any Excise Tax as calculated by the Company or Tax Counsel, as the case may be,
is finally determined by a Tax Authority to exceed the amount required to be
paid under applicable law, then you shall repay such excess to the Company
within 30 days of such determination; provided that such repayment shall be
reduced by the amount of any taxes paid by you on such excess which is not
offset by the tax benefit attributable to the repayment.

               9. Successors; Binding Agreement.

               (a) Successors to Employee. This Agreement and all your rights
hereunder shall inure to the benefit of and be enforceable by your personal or
legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees. If you should die while any amounts would
still be payable to you hereunder if you had continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to your devisee, legatee, or other designee or, if there
be no such designee, to your estate. You shall be entitled to select (and
change, to the extent permitted under any applicable law) a beneficiary or
beneficiaries to receive any compensation or benefit payable hereunder following
your death, and may change such election, in either case by giving the Company
written notice thereof. In the event of your death or a judicial determination
of your incompetence, reference in this Agreement to you shall be deemed, where
appropriate, to refer to your beneficiary, estate or other legal representative.
Your obligations hereunder may not be delegated, and except as otherwise
provided herein relating to the designation of a devisee, legatee or other
designee, you may not assign, transfer, pledge, encumber,

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hypothecate or otherwise dispose of this Agreement or any of your rights
hereunder, and any such attempted delegation or disposition shall be null and
void and without effect.

               (b) Successors to the Company. This Agreement shall be binding
upon the Company, GE Capital and their respective successors. The Company and GE
Capital each shall require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of its
business and/or assets to expressly assume and agree to perform this Agreement
in the same manner and to the same extent that the Company or GE Capital, as
applicable, would be required to perform it if no succession had taken place.

               10. Notices. For purposes of this Agreement, notices and all
other communications provided for shall be in writing and shall be deemed to
have been duly given when delivered or mailed by United States registered or
certified mail, return receipt requested, postage prepaid, addressed as follows:

     If to you:

     If to the Company:

                                    Security Capital Group, Inc.
                                    c/o General Electric Capital Corporation
                                    292 Long Ridge Road
                                    Stamford, Connecticut  06927
                                    Attention: General Counsel
                                      [Security Capital]
                                    Facsimile No.:  (203) 357-6768

                           with a copy to:

                                    General Electric Capital Corporation
                                    292 Long Ridge Road
                                    Stamford, Connecticut  06927
                                    Attention: Manager - Human Resources
                                      [Security Capital]
                                    Facsimile No.:  (203) 961-5184

or to such other address as any party may have furnished to the other in writing
in accordance herewith, except that notices of change of address shall be
effective only upon receipt.

               11. Miscellaneous. No provision of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by you and the Company. No waiver by either party
hereto at any time of

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any breach by the other party hereto of, or compliance with, any condition
or provision of this Agreement to be performed by such other party shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same or
at any prior or subsequent time. This Agreement constitutes the complete
understanding between the parties with respect to your provision of services and
supersedes any other prior oral or written agreements, arrangements or
understandings between you and the Company, except pursuant to the
Non-Competition Letter Agreement and the Merger Agreement. No agreements or
representations, oral or otherwise, express or implied, with respect to the
subject matter hereof have been made by either party which are not set forth
expressly in this Agreement, except as set forth in the Non-Competition Letter
Agreement and the Merger Agreement. This Agreement may not be changed or
terminated orally but only by an agreement in writing signed by the parties
hereto. The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of New York.

               12. Arbitration. Any controversy or claim arising out of or
relating to this Agreement or the breach thereof shall be settled by arbitration
in New York, New York, in accordance with the laws of the State of New York, by
three arbitrators appointed by the parties. If the parties cannot agree on the
appointment of the arbitrators, one shall be appointed by the Company and one by
the Executive and the third shall be appointed by the first two arbitrators. The
arbitration shall be conducted in accordance with the rules of the American
Arbitration Association, except with respect to the selection of arbitrators
which shall be as provided in this paragraph 12. Judgment upon the award
rendered by the arbitrators may be entered in any court having jurisdiction
thereof. In the event that it shall be necessary or desirable for you to retain
legal counsel or incur other costs and expenses in connection with enforcement
of your rights under this Agreement, the Company shall pay (or you shall be
entitled to recover from the Company, as the case may be) your reasonable
attorneys' fees and costs and expenses in connection with enforcement of your
rights (including the enforcement of any arbitration award in court). Payments
shall be made to you at the time such fees, costs and expenses are incurred. If,
however, the arbitrators shall determine that, under the circumstances, payment
by the Company of all or a part of any such fees and costs and expenses would be
unjust, you shall repay such amounts to the Company in accordance with the order
of the arbitrators.

               13. Validity; Effectiveness. The invalidity or unenforceability
of any provision or provisions of this Agreement shall not affect the validity
or enforceability of any other provision of this Agreement, which shall remain
in full force and effect.

               14. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

               15. Guarantee. GE Capital shall cause the Company to perform all
of its obligations hereunder, including without limitation the payment by the
Company of all amounts that the Company is obligated to pay to you under this
Agreement.

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               16. Mitigation and Set-Off. You shall not be required to mitigate
the amount of any payment or benefit provided for in this Agreement by seeking
other employment or otherwise. Neither the Company nor GE Capital shall be
entitled to set off against the amounts or benefits payable to you under this
Agreement any amounts you owe to the Company, GE Capital or any of their
affiliates, any amounts or benefits you earn in other employment after
termination employment with the Company, or any amounts which you might have
been earned in other employment had you sought such other employment.

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                  If the foregoing is satisfactory, please so indicate by
signing and returning to the Company the enclosed copy of this letter whereupon
this will constitute our agreement on the subject.

                                    SECURITY CAPITAL GROUP, INC.

                                    By:____________________________

                                        Name:
                                        Title:

                                    GENERAL ELECTRIC CAPITAL CORPORATION, for
                                    purposes of Section 15 hereof.

                                    By:____________________________

                                        Name:
                                        Title:

ACCEPTED AND AGREED TO:

--------------------------
C. RONALD BLANKENSHIP

                                       11<PAGE>

                                                                   Exhibit 10.31

March 22, 2002

Mr. C. Ronald Blankenship
c/o Security Capital Group Incorporated
125 Lincoln Avenue
Santa Fe, New Mexico  87501

Dear Mr. Blankenship:

     In connection with the anticipated merger (the "Merger") of Security
Capital Group, Inc. (the "Company") with and into an indirect subsidiary of
General Electric Capital Corporation ("GE Capital"), we are entering into the
following agreement (this "Agreement"). You, the Company and GE Capital hereby
agree as follows:

     1. Restrictive Covenants and Confidentiality. In return for your agreeing
to the terms of this Agreement, including the restrictive covenants set forth in
this paragraph 1, GE Capital shall cause the Company to pay to you, or in the
event of your death, your estate, a payment by wire transfer in the amount of
seven million, five hundred and thirty-five thousand and four hundred and
sixty-seven dollars ($7,535,467) (less applicable withholding taxes), at the
time at which the Merger becomes effective ("the Effective Time").

     (a) Noncompetition. You agree that for a period of eighteen (18) months
from the Effective Time (the "Restricted Period"), you will not, directly or
indirectly, be employed as an executive officer, serve on the Board of
Directors, or otherwise actively participate in the management of any business
that is engaged in a Competitive Business, as defined herein. For purposes of
this Agreement, "Competitive Business" means ownership and operation of any of
the following: (i) self-storage facilities ("Storage Assets"), (ii)
grocery-store, drug store or general merchandise discount store anchored
shopping centers under 250,000 square feet of leasable area ("Grocery Assets")
or (iii) central business district parking facilities, whether on a domestic or
international basis ("Parking Assets") (each of Storage Assets, Grocery Assets
and Parking Assets is referred to below as a "Restricted Assets Class").
"Competitive Business" does not include ownership of any assets in a Restricted
Assets Class that are incidental to other real estate assets owned by the entity
(for example, a company that owns office properties that include garage
facilities or retail facilities). Notwithstanding the foregoing:

     (1) You may be employed as an executive officer, serve on the Board of
     Directors, or otherwise actively participate in the management of any
     entity that has or makes investments in the Restricted Asset Classes
     provided that the following criteria are

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          met: (A) at the time you begin serving in such capacity, the entity
          does not own, control, or manage more than $250 million of Storage
          Assets, more than $250 million of Grocery Assets, or more than $200
          million of Parking Assets ; and (B) the entity does not acquire, in
          any calendar year, more than $150 million of Storage Assets, more than
          $150 million of Grocery Assets, or more than $100 million of Parking
          Assets. The dollar amounts in the preceding sentence refer to the
          original purchase price for the assets in question.

          (2) You may be employed by or otherwise affiliated with a private
          investment, leveraged buy-out or real estate advisory firm that
          invests as a principal or advises clients engaged in a Competitive
          Business that does not meet the requirements of subparagraph (1)
          above, so long as you do not personally participate in the firm's
          decisions and activities relating to such investments or client
          services.

          (3) You may continue your affiliation with Zebec Data Systems. You may
          continue your affiliation with Security Capital European Realty until
          such time that GE Capital requests in writing that you cease your
          affiliation with Security Capital European Realty.

     (b)  Nonsolicitation. You agree that during the Restricted Period, you
shall not, whether for you or for any other person, business, partnership,
association, firm, company or corporation, solicit, divert or take away any of
the customers (entities or individuals from which the Company or any of its
affiliates receives rents or payments for services) of the Company or any
affiliate thereof or employees of the Company or any affiliate thereof in
existence from time to time during your employment with the Company or any
affiliate thereof and at the time of such initiation, solicitation or diversion.
For purposes of this paragraph 1(b), "affiliate" means any affiliate of the
Company immediately prior to the Effective Time that continues to be an
affiliate of the Company at the relevant time. Notwithstanding anything in this
agreement to the contrary, you may make general solicitations for employees
and/or customers through customary industry channels (including, but not limited
to, the public media).

     (c)  Nondisparagement. You agree that during the Restricted Period, you
shall not make or cause to be made to the media, public interest groups, trade
associations or publishing companies any disparaging statements regarding the
Company or any of its affiliates that are intended to cause demonstrable and
material economic damage to the Company or any of its affiliates.

     (d)  Confidentiality. You acknowledge that in connection with your
employment with the Company and its subsidiaries, you obtained knowledge about
confidential and proprietary information, or trade secrets of the Company,
including but not limited to lists of customers, technical information about
products and price

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information. You agree not to use, publish or otherwise disclose any such
information to others without the prior written approval of the Company, except
in the normal course of carrying out your employment duties with the Company.
Notwithstanding the foregoing, the restrictions of this subparagraph (d) shall
not apply to information that is or shall become generally known to the public
or the trade (except by reason of your breach of your obligations hereunder),
information that is or shall become available in trade or other publications,
information known to you prior to entering the employ of the Company, and
information that you are requested or required to disclose by law or an order of
a court of competent jurisdiction or other legal process (provided that prior to
your disclosure of any such information required by law or order of such court,
you provide the Company with reasonable notice and a reasonable opportunity to
seek a protective order to prevent such disclosure).

     (e) Employment Release. Except as provided in paragraph 1(e)(iii),
effective as of the date hereof, you and your heirs, assigns, and agents
release, waive, and discharge GE Capital, the Company and their affiliates and
their respective directors, officers, employees, subsidiaries, affiliates, and
agents (collectively, the "Released Persons") from each and every claim, action
or right of any sort, known or unknown, arising on or before the date hereof
that arises out of, or relates to, your employment by the Company or any of its
affiliates.

     (i) Except as provided in subparagraph (iii) below, the foregoing release
includes, but is not limited to, any claim of discrimination on the basis of
race, sex, religion, marital status, sexual orientation, national origin,
handicap or disability, age, veteran status, special disabled veteran status, or
citizenship status; any other claim based on a statutory prohibition; any claim
arising out of or related to an express or implied employment contract, any
other contract affecting terms and conditions of employment, or a covenant of
good faith and fair dealing; any tort claims and any personal gain with respect
to any claim arising under the qui tam provisions of the False Claims Act, 31
U.S.C. 3730.

     (ii) You represent that you understand the foregoing release, that rights
and claims under the Age Discrimination in Employment Act of 1967, as amended,
("ADEA") are among the rights and claims against the Released Persons you are
releasing, and that you understand that you are not releasing any rights or
claims arising after the Effective Time.

     (iii) This release shall not apply to any claim, action or right that you
have under any of the Company's employee benefit plans, programs or
arrangements, fringe benefits or perquisites (including any contractual right to
reimbursement upon the sale of a principal residence), other than your rights
under any change in control agreement or related agreement, including the Change
in Control Agreement entered into on November 29, 2001 and the letter agreement,
the attached term sheet and the letter agreement concerning equity compensation,
each dated December 14, 2001.

                                        3

<PAGE>

     (iv) You acknowledge that before entering into this Agreement, you have had
the opportunity to consult with any attorney or other advisor of your choice,
and that this Agreement constitutes advice from the Company to do so if you
choose. You further acknowledge that you have entered into this Agreement of
your own free will, and that no promises or representations have been made to
you by any person to induce you to enter into this Agreement other than the
express terms set forth herein. You further acknowledge that you have read this
Agreement and understand all of its terms, including the waiver of rights set
forth in paragraph 1(e) of this Agreement above. You may revoke this Agreement
after signing it, but only by delivering a signed revocation notice to the
Company within seven (7) days of signing this Agreement.

     2. Successors. This Agreement and all your rights hereunder shall inure to
the benefit of and be enforceable by your personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and
legatees. This Agreement shall be binding upon the Company, GE Capital and their
respective successors. The Company and GE Capital each shall require any
successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of its business and/or assets to
expressly assume and agree to perform this Agreement in the same manner and to
the same extent that the Company or GE Capital, as applicable, would be required
to perform it if no succession had taken place.

     3. Injunctive Relief. You acknowledge that the services rendered by you to
the Company and its subsidiaries are of a special, unique and extraordinary
character and, in connection with such services, you had access to confidential
information vital to the Company's and its subsidiary companies' businesses. By
reason of this, you consent and agree that if you violate any of the provisions
of paragraph 1 of this Agreement, GE Capital, the Company and their subsidiary
companies would sustain irreparable harm and, therefore, the Company shall be
entitled to an injunction restraining you from committing or continuing any such
violation of this Agreement, and GE Capital and the Company acknowledge that
injunctive relief shall be their sole and exclusive remedy if you violate any of
the provisions of paragraph 1 of this Agreement

     4. Miscellaneous. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing
signed by you and by the Company and GE Capital. This Agreement constitutes the
complete understanding between the parties with respect to matters contained
herein and supersedes any other prior oral or written agreements, arrangements
or understandings between you and the Company and/or GE Capital to the extent
set forth herein, other than pursuant to the letter agreement entered into as of
the date hereof with respect to your continuing employment with the Company (the
"Employment Letter Agreement"). No agreements or representations, oral or
otherwise, express or implied, with respect to the subject matter hereof have
been made by either party which are not set forth expressly in this Agreement,
other than pursuant to the Employment Letter Agreement. This Agreement may not
be changed or terminated orally but only by an agreement in writing signed by
the parties hereto. The validity, interpretation, construction and performance
of this Agreement shall be governed by the laws of the

                                        4

<PAGE>

State of New York. The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.

     5. Fees. In the event that it shall be necessary or desirable for you to
retain legal counsel or incur other costs and expenses in connection any dispute
arising under this Agreement, the Company shall pay (or you shall be entitled to
recover from the Company, as the case may be) your reasonable attorneys' fees
and costs and expenses in connection with enforcement of your rights (including
the enforcement of any award in court). Payments shall be made to you at the
time such fees, costs and expenses are incurred. If, however, it is determined
by the court adjudicating the relevant matter that, under the circumstances,
payment by the Company of all or a part of any such fees and costs and expenses
would be unjust, you shall repay such amounts to the Company in accordance with
such order.

                                        5

<PAGE>

     If the foregoing is satisfactory, please so indicate by signing and
returning to the Company the enclosed copy of this letter whereupon this will
constitute our agreement on the subject.

                                    SECURITY CAPITAL GROUP, INC.

                                    By:
                                        --------------------------------
                                        Name:
                                        Title:
                                        Date and Time:
                                                       -----------------

                                    GENERAL ELECTRIC CAPITAL CORPORATION

                                    By:
                                        --------------------------------
                                        Name:
                                        Title:
                                        Date and Time:
                                                       -----------------

ACCEPTED AND AGREED TO:

-------------------------------
C. RONALD BLANKENSHIP
Date and Time:
               -----------------

                                        6

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