Document:

Exhibit
10.2

Execution
Copy

COMMON
STOCK DELIVERY AGREEMENT

This agreement (“Agreement”) is
being made this 18th day of September, 2006 by and between
Corporate Office Properties, L.P., a Delaware limited partnership (the “Operating  Partnership”),
and Corporate Office Properties Trust, a Maryland real estate investment trust
(the “Company”).

Recitals

WHEREAS, the Company is the
general partner of the Operating Partnership; and

WHEREAS, the Operating
Partnership and the Company have entered into a purchase agreement dated as of
September 12, 2006 with Banc of Americas Securities LLC, J.P. Morgan Securities
Inc. and Wachovia Capital Markets, LLC (the “Initial
Purchasers”), providing for the issuance and sale by the Operating
Partnership in a private offering under Rule 144A promulgated under the
Securities Act of 1933, as amended (the “Act”), up to
$200,000,000 principal amount of its “3.50% Senior Exchangeable Notes Due 2026”
(the “Notes”), which Notes may be
exchangeable into cash and common shares of beneficial interest, par value $.01
per share, of the Company (the “Common Shares”)
under certain circumstances.

NOW, THEREFORE, in consideration
of the foregoing and in consideration of the mutual covenants contained herein,
the parties agree as follows:

Agreement

1.             If the Operating Partnership elects, in its sole
discretion, to deliver Common Shares to the holders of the Notes upon exchange,
redemption or maturity in accordance with the terms of the Notes and the
Indenture, dated as of September 18, 2006, by and among the Operating
Partnership, the Company, as guarantor, Wells Fargo Bank, National Association,
as trustee (the “Indenture”) related to the Notes,
the Company agrees to issue the number of Common Shares which the Operating
Partnership elects to deliver, and the Operating Partnership hereby directs the
Company to deliver such Common Shares to the holders of the Notes on behalf of
the Operating Partnership in accordance with the Indenture.

2.             Upon any such issuance of Common Shares, the Operating
Partnership shall, in accordance with its Second Amended and Restated Limited
Partnership Agreement, as amended (the “Partnership Agreement”)
issue to the Company on a concurrent basis a number of “Partnership
Units” (as defined in the Partnership Agreement) equal in number to
the Common Shares issued by the Company pursuant to this Agreement.

3.             The Operating Partnership hereby agrees to indemnify the
Company and each of its trustees and officers (each, an “Indemnified
Party”) against, and agrees to hold, save and defend each
Indemnified Party, harmless from, any loss, expense or damage (including
without limitation, reasonable attorneys’ fees and expenses and court costs
actually incurred) suffered or incurred by an Indemnified Party by reason of
anything such Indemnified Party may in good faith do or refrain from doing for
or on behalf of the Operating Partnership pursuant to this

 

Agreement; provided however, that the Operating
Partnership shall not be required to indemnify an Indemnified Party for any
loss, expense or damage that such Indemnified Party may suffer or incur as a
result of its willful misconduct or gross negligence.

4.             Miscellaneous.

(a)           THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT GIVING EFFECT TO CONFLICT LAWS, RULES OR PRINCIPLES.

(b)           No provision of this agreement may be
amended, modified, or waived, except in writing signed by both parties and with
the consent of a majority in principal amount of Notes then outstanding;
provided, however, that the unanimous consent of the holders of all outstanding
Notes will be required in order to amend, modify, or waive the provisions of
paragraph 2 hereof or to otherwise adversely affect the right of holders
of Notes to exchange the Notes for Common Shares as provided in the
Indenture.  Any consent of the holders of
the Notes shall be obtained in accordance with the applicable provisions of the
Indenture.

(c)           In the event that any claim of
inconsistency between this Agreement and the terms of the Indenture arise, as
they may from time to time be amended, the terms of the Indenture shall
control.

(d)           If any provision of this Agreement
shall be held illegal, invalid, or unenforceable by any court, this Agreement
shall be construed and enforced as if such provision had not been contained
herein and shall be deemed an Agreement among us to the full extent permitted
by applicable law.

(e)           The terms and provisions of this
Agreement are intended solely for the benefit of each party hereto and their respective
successors or permitted assigns, and it is not the intention of the parties to
confer third-party beneficiary rights to any other person, except that the
holders of the Notes shall be deemed third-party beneficiaries of this
Agreement and shall be entitled to enforce the provisions of this agreement as
if they were parties hereto.

(f)            This Agreement may not be assigned
by either party without prior written consent of both parties.

[The
remainder of the page has been left blank intentionally.]

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IN WITNESS
WHEREOF, the parties hereto have executed this Agreement by
their duly authorized officers as of the day and year above written.

	
  

  	
  CORPORATE OFFICE PROPERTIES, L.P.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  Corporate Office Properties Trust,

  
	
   

  	
   

  	
  as sole general partner

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Roger A. Waesche, Jr.

  	
   

  
	
   

  	
   

  	
  Name: Roger A.
  Waesche, Jr.

  
	
   

  	
   

  	
  Title: Executive
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CORPORATE OFFICE
  PROPERTIES TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Roger A. Waesche, Jr.

  	
   

  
	
   

  	
   

  	
  Name: Roger A.
  Waesche, Jr.

  
	
   

  	
   

  	
  Title: Executive
  Vice President

  
							

 

 3Exhibit 4.1

EXECUTION COPY

AMENDMENT NO. 2 TO RIGHTS
AGREEMENT

THIS AMENDMENT NO. 2
(this “Amendment No. 2”), dated as of September 21, 2006, between Tribune
Company, a Delaware corporation (the “Company”), and Computershare Trust
Company, N.A. (formerly known as EquiServe Trust Company, N.A., formerly known
as First Chicago Trust Company of New York), as Rights Agent (the “Rights Agent”),
amends the Rights Agreement, dated as of December 12, 1997, as previously
amended by Amendment No. 1 thereto, dated as of June 12, 2000 (the “Rights
Agreement”).  Capitalized terms used
herein and not otherwise defined shall have the meanings ascribed to such terms
in the Rights Agreement.

RECITALS

WHEREAS, the Company and
the Rights Agent have executed and entered into the Rights Agreement;

WHEREAS, pursuant to
Section 27 of the Rights Agreement, the Company and the Rights Agent may from
time to time supplement or amend the Rights Agreement in accordance with the
provisions of Section 27 thereof;

WHEREAS, the Company is a
party to (i) a Distribution Agreement, dated as of September 21, 2006, among
the Company, TMCT, LLC, Candle Holdings Corporation, Fortify Holdings
Corporation, Chandler Trust No. 1 and Chandler Trust No. 2 and (ii) a Distribution
Agreement, dated as of September 21, 2006, among the Company, TMCT II, LLC,
Fortification Holdings Corporation, Wick Holdings Corporation, Eagle New Media
Investments, LLC, Eagle Publishing Investments, LLC, Chandler Trust No. 1 and
Chandler Trust No. 2 (the agreements in clauses (i) and (ii) above,
collectively, the “Distribution Agreements”);

WHEREAS, pursuant to the transactions
contemplated by the Distribution Agreements, TMCT, LLC, TMCT II, LLC, Chandler
Trust No. 1, Chandler Trust No. 2 and the trustees of such trusts may acquire
beneficial ownership of additional Common Shares in a corporate transaction
approved by the Board of Directors of the Company;

WHEREAS, the Board of
Directors of the Company has determined that it is in the best interests of the
Company and its stockholders to amend the Rights Agreement for purposes of
clarification as provided below;

NOW, THEREFORE, the
Rights Agreement is hereby amended as follows:

1.  The definition of Acquiring Person in Section
1(a) of the Rights Agreement is hereby modified and amended by adding the
following sentence at the end of the last sentence thereof:

“For the avoidance of doubt, the exception for the
acquisition of beneficial ownership of additional Common Shares by Chandler
Trust No. 1, Chandler Trust No. 2 or any of the trustees of such trusts in connection
with a corporate transaction approved by the Board of Directors, contained in
clause (iii) of the

 

 

first proviso of the immediately preceding sentence,
shall include the acquisition of additional Common Shares by TMCT, LLC, TMCT
II, LLC, Chandler Trust No. 1 and Chandler Trust No. 2 pursuant to the
transactions contemplated by (i) the Distribution Agreement, dated as of
September 21, 2006, among the Company, TMCT, LLC, Candle Holdings Corporation,
Fortify Holdings Corporation, Chandler Trust No. 1 and Chandler Trust No. 2,
and (ii) the Distribution Agreement, dated as of September 21, 2006, among the
Company, TMCT II, LLC, Fortification Holdings Corporation, Wick Holdings
Corporation, Eagle New Media Investments, LLC, Eagle Publishing Investments,
LLC, Chandler Trust No. 1 and Chandler Trust No. 2 (the agreements in clauses
(i) and (ii) above, collectively, the “Distribution Agreements”).  Accordingly, none of TMCT, LLC, TMCT II, LLC,
Chandler Trust No. 1, Chandler Trust No. 2 or any of the trustees of such
trusts whose beneficial ownership of Common Shares is aggregated with such
trusts shall be deemed to be an Acquiring Person as a result of the acquisition
of beneficial ownership of additional Common Shares pursuant to the transactions
contemplated by the Distribution Agreements.”

2.  This amendment may be executed in any number
of counterparts, each of which shall be an original, but such counterparts
shall together constitute one and the same instrument.

3.  This Amendment shall be deemed to be a
contract made under the laws of the State of Delaware and for all purposes
shall be governed by and construed in accordance with the laws of such State
applicable to contracts to be made and performed entirely within such State.

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IN WITNESS WHEREOF, this
Amendment has been duly executed by the Company and the Rights Agent as of the
day and year first written above.

	
  

  	
   

  	
  TRIBUNE COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Chandler Bigelow

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Chandler Bigelow

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Computershare Trust Company, N.A.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Tammie J.
  Marshall

  	
   

  	
   

  	
   

  
	
  Name: Tammie J.
  Marshall

  	
   

  	
   

  
	
  Title: Senior
  Account Executive

  	
   

  	
   

  
									

 

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