Document:

<Page>
                                                                     Exhibit 4.1

                          THIRD SUPPLEMENTAL INDENTURE
                           DATED AS OF AUGUST 20, 2002

                                     BETWEEN

                          CENTERPOINT PROPERTIES TRUST
                                       AND
                U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE

<Page>

         THIRD SUPPLEMENTAL INDENTURE, dated as of August 20, 2002 by and
between CENTERPOINT PROPERTIES TRUST, a Maryland real estate investment trust
(the "Company"), having its principal offices at 1808 Swift Road, Oak Brook,
Illinois 60523, and U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking
association organized under the laws of the United States of America, as trustee
(the "Trustee"), having its Corporate Trust Office at One Illinois Center, 111
East Wacker Drive, Suite 3000, Chicago, Illinois 60601.

                                    RECITALS

         WHEREAS, the Company executed and delivered its Indenture (the
"Original Indenture"), dated as of April 7, 1998, as supplemented by the First
Supplemental Indenture, dated as of April 7, 1998 (the "First Supplemental
Indenture") and the Second Supplemental Indenture dated as of October 23, 1998
(the "Second Supplemental Indenture"), to the Trustee to issue from time to time
for its lawful purposes debt securities evidencing its unsecured indebtedness.

         WHEREAS, the Original Indenture provides that by means of a
supplemental indenture, the Company may create one or more series of its debt
securities.

         WHEREAS, the Company intends by this Supplemental Indenture to create a
series of debt securities, in an aggregate principal amount not to exceed
$300,000,000, entitled "CenterPoint Properties Trust Medium-Term Notes, Series
B" (the "Notes").

         WHEREAS, the Board of Trustees of the Company has approved the creation
of the Notes.

         WHEREAS, the Notes of the series created by this Supplemental Indenture
may be issued from time to time, and the terms thereof shall be established as
provided herein.

         WHEREAS, the consent of Holders to the execution and delivery of this
Supplemental Indenture is not required, and all other actions required to be
taken under the Original Indenture with respect to this Supplemental Indenture
have been taken.

         NOW, THEREFORE IT IS AGREED:

                                   ARTICLE ONE
   DEFINITIONS, CREATION, FORM AND TERMS AND CONDITIONS OF THE DEBT SECURITIES

         SECTION 1.01 DEFINITIONS. Capitalized terms used in this Supplemental
Indenture and not otherwise defined shall have the meanings ascribed to them in
the Original Indenture. In addition, the following terms shall have the
following meanings to be equally applicable to both the singular and the plural
forms of the terms defined:

         "Adjusted Total Assets" of a Person as of any date means the total of
all assets of such Person which would be shown as assets on a balance sheet of
such Person as of such time prepared in accordance with GAAP plus accumulated
depreciation.

                                       2
<Page>

         "Annual Service Charge" as of any date means the aggregate amount of
any interest expensed by the Company and its Subsidiaries for the four
consecutive fiscal quarters most recently ended, as determined in accordance
with GAAP.

         "Consolidated Income Available for Debt Service" as of any date means
Consolidated Net Income (as defined below) of the Company and its Subsidiaries
plus amounts that have been deducted in the computation thereof for: (a)
interest on Debt of the Company and its Subsidiaries: (b) provision for taxes of
the Company and its Subsidiaries based on income; (c) amortization of debt
discount; (d) depreciation and amortization; (e) the effect of any noncash
charge resulting from a change in accounting principles in determining
Consolidated Net Income; and (f) amortization of deferred charges, for the four
consecutive fiscal quarters most recently ended, all as determined in accordance
with GAAP, and without taking into account any provision for gains and losses on
properties.

         "Consolidated Net Income" for any period means the amount of net income
(or loss) of the Company and its Subsidiaries for such period determined on a
consolidated basis in accordance with GAAP.

         "Indenture" means the Original Indenture as supplemented by the First
Supplemental Indenture, the Second Supplemental Indenture, and this Third
Supplemental Indenture.

         "Intercompany Debt" means Debt to which the only parties are the
Company and any Subsidiary and, in the case of Debt owed by the Company to any
Subsidiary, such Debt is subordinate in right of payment to the holders of the
Notes.

         "Notes" means the Company's Medium-Term Notes, Series B, issued from
time to time under the Indenture.

         "Undepreciated Real Estate Assets" as of any date means the amount
(original cost plus capital improvements) of real estate assets of the Company
and its Subsidiaries on such date, before depreciation and amortization,
determined on a consolidated basis in accordance with GAAP.

         "Unencumbered Total Asset Value" as of any date means the sum of: (i)
the amount of each asset comprising Undepreciated Real Estate Assets not subject
to an encumbrance; and (ii) the amount of all other assets of the Company and
its Subsidiaries on a consolidated basis not subject to an encumbrance,
determined in accordance with GAAP (but excluding accounts receivable and
intangibles).

         SECTION 1.02 CREATION OF THE DEBT SECURITIES. In accordance with
Section 301 of the Original Indenture, the Company hereby creates the Notes as
separate series of its debt securities issued pursuant to the Indenture. The
Notes shall be issued from time to time in an aggregate principal amount not to
exceed $300,000,000. The specific terms of each tranche of the series of Notes
created by this Supplemental Indenture that may be issued from time to time
shall be determined as set forth in Sections 301 and 303 of the Original
Indenture.

         SECTION 1.03 APPLICABILITY OF DEFEASANCE OR COVENANT DEFEASANCE. The
provisions of Article 14 of the Original Indenture shall apply to the Notes.

                                       3
<Page>

                                   ARTICLE TWO
                              Additional Covenants

         The Notes shall be governed by all the covenants contained in the
Original Indenture, as supplemented by this Third Supplemental Indenture, and in
particular, this Third Supplemental Indenture amends Section 1004 of the
Original Indenture to read as follows:

                  "SECTION 1004. LIMITATIONS ON INCURRENCE OF DEBT.

                  (a) The Company will not, and will not permit any Subsidiary
to, incur any Debt, other than Intercompany Debt, if, immediately after giving
effect to the incurrence of such Debt and the application of the proceeds
thereof, the aggregate principal amount of all outstanding Debt of the Company
and its Subsidiaries on a consolidated basis determined in accordance with GAAP
would be greater than 60% of the sum of (i) the Company's Adjusted Total Assets
as of the end of the most recent fiscal quarter prior to the incurrence of such
additional Debt, plus (ii) the increase in the Company's Adjusted Total Assets
since the end of such quarter (including any increase resulting from the
incurrence of additional Debt).

                  (b) The Company will not, and will not permit any Subsidiary
to, incur any Debt if the ratio of Consolidated Income Available for Debt
Service to the Annual Service Charge on the date on which such additional Debt
is to be incurred would have been less than 1.5 to 1, on a pro forma basis,
after giving effect to the incurrence of such Debt and to the application of the
proceeds thereof.

                  (c) The Company will not, and will not permit any Subsidiary
to, incur any Debt secured by any mortgage, lien, charge, pledge, encumbrance or
security interest of any kind upon any of the properties of the Company or any
Subsidiary ("Secured Debt"), whether owned at the date hereof or hereafter
acquired, if, immediately after giving effect to the incurrence of such Secured
Debt and the application of the proceeds thereof, the aggregate principal amount
of all outstanding Secured Debt of the Company and its Subsidiaries on a
consolidated basis would be greater than 40% of the sum of (i) the Company's
Adjusted Total Assets as of the end of the most recent fiscal quarter prior to
the incurrence of such additional Debt, plus (ii) the increase in Adjusted Total
Assets since the end of such quarter (including any increase resulting from the
incurrence of additional Debt).

                  (d) The Company will at all times maintain an Unencumbered
Total Asset Value in an amount not less than 150% of the aggregate principal
amount of all outstanding unsecured Debt of the Company and its Subsidiaries on
a consolidated basis.

         For purposes of the foregoing provisions regarding the limitation on
the incurrence of Debt, (i) Debt shall be deemed to be "incurred" by the Company
or a Subsidiary whenever the Company or such Subsidiary shall create, assume,
guarantee or otherwise become liable in respect thereof, (ii) outstanding Debt
of any Person that becomes a Subsidiary shall be deemed to be "incurred" at the
time such Person becomes a Subsidiary, and (iii) any Debt that is extended,
renewed or refunded shall be deemed to have been "incurred" at the time of any
such extension, renewal or refunding."

                                       4
<Page>

                                  ARTICLE THREE
                                     TRUSTEE

         SECTION 3.01 TRUSTEE. The Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture of the due execution thereof by the Company. The recitals
of fact contained herein shall be taken as the statements solely of the Company,
and the Trustee assumes no responsibility for the correctness thereof.

                                  ARTICLE FOUR
                            MISCELLANEOUS PROVISIONS

         SECTION 4.01 RATIFICATION OF ORIGINAL INDENTURE. This Supplemental
Indenture is executed and shall be construed as an indenture Supplemental to the
Original Indenture, and as supplemented and modified hereby, the Original
Indenture is in all respects ratified and confirmed, and the Original Indenture
and this Supplemental Indenture shall be read, taken and construed as one and
the same instrument.

         SECTION 4.02 EFFECTS OF HEADINGS. The Article and Section headings
herein are for convenience only and shall not affect the construction hereof.

         SECTION 4.03 SUCCESSORS AND ASSIGNS. All covenants and agreements in
this Supplemental Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

         SECTION 4.04 SEPARABILITY CLAUSE. In case any one or more of the
provisions contained in this Supplemental Indenture shall for any reason be held
to be invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

         SECTION 4.05 GOVERNING LAW. This Supplemental Indenture shall be
governed by and construed in accordance with the laws of the State of New York.
This Supplemental Indenture is subject to the provisions of the Trust Indenture
Act, that are required to be part of this Supplemental Indenture and shall, to
the extent applicable, be governed by such provisions.

         SECTION 4.06 COUNTERPARTS. This Supplemental Indenture may be executed
in any number of counterparts, and each of such counterparts shall for all
purposes be deemed to be an original, but all such counterparts shall together
constitute one and the same instrument.

                                       5
<Page>

                  IN WITNESS WHEREOF, the parties hereto have caused the
Supplemental Indenture to be duly executed, and their respective corporate seals
to be hereunto affixed and attested, all as of the date first above written.

                                     CENTERPOINT PROPERTIES TRUST

                                     By:      /s/ John S. Gates, Jr.
                                              -------------------------
                                     Name:    John S. Gates, Jr.
                                     Title    President/CEO

Attest:

BY:     /s/ Paul S. Fisher
        ------------------------
Name:   Paul S. Fisher
Title:  Chief Financial Officer

                                     U. S. BANK TRUST NATIONAL ASSOCIATION,
                                     as Trustee

                                     By:      /s/ Patrick J. Crowley
                                              ------------------------------
                                     Name:    Patrick J. Crowley
                                     Title    Vice President

Attest:

By:      /s/ Barbara Nastro
         --------------------
Name:    Barbara Nastro
Title:   Vice President

                                       6
<Page>

STATE OF ILLINOIS          )
                           )       SS:
COUNTY OF COOK             )

         On the 21st day of August, 2002, before me personally came John S.
Gates, Jr. and Paul S. Fisher, to me known, who being by me duly sworn, did
depose and say that they are the President and Secretary, respectively, of
CENTERPOINT PROPERTIES TRUST, one of the parties described in and which
executed the foregoing instrument, and that they signed their name,
respectively, thereto by authority of the Board of Trustees.

[Notarial Seal]

/s/ Jennifer M. Carrier
Notary Public

COMMISSION EXPIRES
3-3-03

                                       7
<Page>

STATE OF ILLINOIS     )
                      )       SS:
COUNTY OF COOK        )

         On the 21st day of August, 2002, before me personally came Patrick J.
Crowley and Barbara Nastro, to me known, who being by me duly sworn, did
depose and say that they are the President and Secretary, respectively, of
U.S. BANK TRUST NATIONAL ASSOCIATION, one of the parties described in and
which executed the foregoing instrument, and that they signed their name,
respectively, thereto by authority of the Board of Trustees.

[Notarial Seal]

/s/ Patrick V. Cowart
Notary Public

COMMISSION EXPIRES 9-22-05

                                       8QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.44    
  

TAB PRODUCTS CO.

2001 STOCK OPTION PLAN  

        1.    ESTABLISHMENT, PURPOSE AND TERM OF PLAN.    

        1.1    Establishment.    The Tab Products Co. 2001 Stock Option Plan (the  "Plan") is hereby established effective as of the
date on which it is first approved by the stockholders of the Company (the  "Effective Date"). 

        1.2    Purpose.    The purpose of the Plan is to advance the interests of the Participating
Company Group and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Participating Company Group and by motivating such persons to contribute
to the growth and profitability of the Participating Company Group. 

        1.3    Term of Plan.    The Plan shall continue in effect until the earlier of its termination
by the Board or the date on which all of the shares of Stock available for issuance under the Plan have been issued and all restrictions on such shares under the terms of the Plan and the agreements
evidencing Options granted under the Plan have lapsed. However, all Incentive Stock Options shall be granted, if at all, within ten (10) years from the Effective Date. 

        2.    DEFINITIONS AND CONSTRUCTION.    

        2.1    Definitions.    Whenever used herein, the following terms shall have their respective
meanings set forth below: 

        (a)  "Board" means the Board of Directors of the Company. If one or more Committees have been appointed by the Board to
administer the Plan, "Board" also means such Committee(s). 

        (b)  "Code" means the Internal Revenue Code of 1986, as amended, and any applicable regulations promulgated thereunder. 

        (c)  "Committee" means the compensation committee or other committee of the Board duly appointed to administer the Plan and
having such powers as shall be specified by the Board. Unless the powers of the Committee have been specifically limited, the Committee shall have all of the powers of the Board granted herein,
including, without limitation, the power to amend or terminate the Plan at any time, subject to the terms of the Plan and any applicable limitations imposed by law. 

        (d)  "Company" means Tab Products Co., a Delaware corporation, or any successor corporation thereto. 

        (e)  "Consultant" means a person engaged to provide consulting or advisory services (other than as an Employee or a Director)
to a Participating Company, provided that the identity of such person, the nature of such services or the entity to which such services are provided would not preclude the Company from offering or
selling securities to such person pursuant to the Plan in reliance on registration on a Form S-8 Registration Statement under the Securities Act. 

        (f)    "Director" means a member of the Board or of the board of directors of any other Participating Company. 

        (g)  "Disability" means the permanent and total disability of the Optionee within the meaning of Section 22(e)(3) of
the Code. 

        (h)  "Employee" means any person treated as an employee (including an officer of the Company or a Director who is also treated
as an employee) in the records of a Participating Company and, with respect to any Incentive Stock Option granted to such person, who is an 

 

employee for purposes of Section 422 of the Code; provided, however, that neither service as a Director nor payment of a director's fee shall be sufficient to constitute employment for
purposes of the Plan. The Company shall determine in good faith and in the exercise of its discretion whether an individual has become or has ceased to be an Employee and the effective date of such
individual's employment or termination of employment, as the case may be. For purposes of an individual's rights, if any, under the Plan as of the time of the Company's determination, all such
determinations by the Company shall be final, binding and conclusive, notwithstanding that the Company or any court of law or governmental agency subsequently makes a contrary determination. 

        (i)    "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

        (j)    "Fair Market Value" means, as of any date, the value of a share of Stock or other property as determined by the Board, in
its discretion, or by the Company, in its discretion, if such determination is expressly allocated to the Company herein, subject to the following: 

        (i)    If,
on such date, the Stock is listed on a national or regional securities exchange or market system, the Fair Market Value of a share of Stock shall be the closing
price of a share of Stock (or the mean of the closing bid and asked prices of a share of Stock if the Stock is so quoted instead) as quoted on the American Stock Exchange or such other national or
regional securities exchange or market system constituting the primary market for the Stock, as reported in The Wall Street Journal or such other source
as the Company deems reliable. If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or market system, the date on which the Fair Market Value shall be
established shall be the last day on which the Stock was so traded prior to the relevant date, or such other appropriate day as shall be determined by the Board, in its discretion. 

        (ii)  If,
on such date, the Stock is not listed on a national or regional securities exchange or market system, the Fair Market Value of a share of Stock shall be as
determined by the Board in good faith without regard to any restriction other than a restriction which, by its terms, will never lapse. 

        (k)  "Incentive Stock Option" means an Option intended to be (as set forth in the Option Agreement) and which qualifies as an
incentive stock option within the meaning of Section 422(b) of the Code. 

        (l)    "Insider" means an officer or a Director of the Company or any other person whose transactions in Stock are subject to
Section 16 of the Exchange Act. 

        (m)  "Nonstatutory Stock Option" means an Option not intended to be (as set forth in the Option Agreement) or which does not
qualify as an Incentive Stock Option. 

        (n)  "Officer" means any person designated by the Board as an officer of the Company. 

        (o)  "Option" means a right to purchase Stock (subject to adjustment as provided in Section 4.2) pursuant to the terms
and conditions of the Plan. An Option may be either an Incentive Stock Option or a Nonstatutory Stock Option. 

        (p)  "Option Agreement" means a written agreement between the Company and an Optionee setting forth the terms, conditions and
restrictions of the Option granted to the Optionee and any shares acquired upon the exercise thereof. An Option Agreement may consist of a form of "Notice of Grant of Stock Option" and a form of
"Stock Option Agreement" incorporated therein by reference, or such other form or forms as the Board may approve from time to time. 

2

 

        (q)  "Optionee" means a person who has been granted one or more Options. 

        (r)  "Parent Corporation" means any present or future "parent corporation" of the Company, as defined in Section 424(e)
of the Code. 

        (s)  "Participating Company" means the Company or any Parent Corporation or Subsidiary Corporation. 

        (t)    "Participating Company Group" means, at any point in time, all corporations collectively which are then Participating
Companies. 

        (u)  "Rule 16b-3" means Rule 16b-3 under the Exchange Act, as amended from time to time,
or any successor rule or regulation. 

        (v)  "Section 162(m)" means Section 162(m) of the Code, as amended by the Revenue Reconciliation Act of 1993
(P.L. 103-66). 

        (w)  "Securities Act" means the Securities Act of 1933, as amended. 

        (x)  "Service" means an Optionee's employment or service with the
Participating Company Group, whether in the capacity of an Employee or a Consultant. An Optionee's Service shall not be deemed to have terminated merely because of a change in the capacity in which
the Optionee renders Service to the Participating Company Group or a change in the Participating Company for which the Optionee renders such Service, provided that there is no interruption or
termination of the Optionee's Service. Furthermore, an Optionee's Service with the Participating Company Group shall not be deemed to have terminated if the Optionee takes any military leave, sick
leave, or other bona fide leave of absence approved by the Company; provided, however, that if any such leave exceeds ninety (90) days, on the one hundred eighty-first (181st) day following the
commencement of such leave any Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and instead shall be treated thereafter as a Nonstatutory Stock Option
unless the Optionee's right to return to Service with the Participating Company Group is guaranteed by statute or contract. Notwithstanding the foregoing, unless otherwise designated by the Company or
required by law, a leave of absence shall not be treated as Service for purposes of determining vesting under the Optionee's Option Agreement. The Optionee's Service shall be deemed to have terminated
either upon an actual termination of Service or upon the corporation for which the Optionee performs Service ceasing to be a Participating Company. Subject to the foregoing, the Company, in its
discretion, shall determine whether the Optionee's Service has terminated and the effective date of such termination. 

        (y)  "Stock" means the common stock of the Company, as adjusted from time to time in accordance with Section 4.2. 

        (z)  "Subsidiary Corporation" means any present or future "subsidiary corporation" of the Company, as defined in
Section 424(f) of the Code. 

        (aa) "Ten Percent Owner Optionee" means an Optionee who, at the time an Option is granted to the Optionee, owns stock
possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company within the meaning of Section 422(b)(6) of the Code. 

        2.2    Construction.    Captions and titles contained herein are for convenience only and
shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the
singular. Use of the term "or" is not intended to be exclusive, unless the context clearly requires otherwise. 

3

 

        3.    ADMINISTRATION.    

        3.1    Administration by the Board.    The Plan shall be administered by the Board. All
questions of interpretation of the Plan or of any Option shall be determined by the Board, and such determinations shall be final and binding upon all persons having an interest in the Plan or such
Option. 

        3.2    Authority of Officers.    Any Officer shall have the authority to act on behalf of the
Company with respect to any matter, right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided the Officer has apparent authority
with respect to such matter, right, obligation, determination or election. 

        3.3    Powers of the Board.    In addition to any other powers set forth in the Plan and
subject to the provisions of the Plan, the Board shall have the full and final power and authority, in its discretion: 

        (a)  to
determine the persons to whom, and the time or times at which, Options shall be granted and the number of shares of Stock to be subject to each Option; 

        (b)  to
designate Options as Incentive Stock Options or Nonstatutory Stock Options; 

        (c)  to
determine the Fair Market Value of shares of Stock or other property; 

        (d)  to
determine the terms, conditions and restrictions applicable to each Option (which need not be identical) and any shares acquired upon the exercise thereof, including,
without limitation, (i) the exercise price of the Option, (ii) the method of payment for shares purchased upon the exercise of the Option, (iii) the method for satisfaction of any
tax withholding obligation arising in connection with the Option or such shares, including by the withholding or delivery of shares of stock, (iv) the timing, terms and conditions of the
exercisability of the Option or the vesting of any shares acquired upon the exercise thereof, (v) the time of the expiration of the Option, (vi) the effect of the Optionee's termination
of Service with the Participating Company Group on any of the foregoing, and (vii) all other terms, conditions and restrictions applicable to the Option or such shares not inconsistent with the
terms of the Plan; 

        (e)  to
approve one or more forms of Option Agreement; 

        (f)    to
amend, modify, extend, cancel or renew any Option or to waive any restrictions or conditions applicable to any Option or any shares acquired upon the exercise
thereof; 

        (g)  to
accelerate, continue, extend or defer the exercisability of any Option or the vesting of any shares acquired upon the exercise thereof, including with respect to the
period following an Optionee's termination of Service with the Participating Company Group; 

        (h)  to
prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt supplements to, or alternative versions of, the Plan, including, without
limitation, as the Board deems necessary or desirable to comply with the laws of, or to accommodate the tax policy or custom of, foreign jurisdictions whose citizens may be granted Options; and 

        (i)    to
correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Option Agreement and to make all other determinations and take such other
actions with respect to the Plan or any Option as the Board may deem advisable to the extent not inconsistent with the provisions of the Plan or applicable law. 

        3.4    Administration with Respect to Insiders.    With respect to participation by Insiders
in the Plan, at any time that any class of equity security of the Company is registered pursuant to 

4

 

Section 12 of the Exchange Act, the Plan shall be administered in compliance with the requirements, if any, of Rule 16b-3. 

        3.5    Committee Complying with Section 162(m).    If a Participating Company is a
"publicly held corporation" within the meaning of Section 162(m), the Board may establish a Committee of "outside directors" within the meaning of Section 162(m) to approve the grant of
any Option which might reasonably be anticipated to result in the payment of employee remuneration that would otherwise exceed the limit on employee remuneration deductible for income tax purposes
pursuant to Section 162(m). 

        3.6    Indemnification.    In addition to such other rights of indemnification as they may
have as members of the Board or officers or employees of the Participating Company Group, members of the Board and any officers or employees of the Participating Company Group to whom authority to act
for the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys' fees, actually and necessarily incurred in connection with the
defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection
with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such
settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to
which it shall be adjudged in such action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty
(60) days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense to handle and defend the same. 

        4.    SHARES SUBJECT TO PLAN.    

        4.1    Maximum Number of Shares Issuable.    Subject to adjustment as provided in
Section 4.2, the maximum aggregate number of shares of Stock that may be issued under the Plan shall be two hundred fifty thousand (250,000) and shall consist of authorized but unissued or
reacquired shares of Stock or any combination thereof. If an outstanding Option for any reason expires or is terminated or canceled without having been exercised in full, the shares of Stock allocable
to the unexercised portion of such Option shall again be available for issuance under the Plan. 

        4.2    Adjustments for Changes in Capital Structure.    In the event of any change in the
Stock through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off,
spin-off, combination of shares, exchange of shares or similar change in the capital structure of the Company, appropriate adjustments shall be made in the number and class of shares
subject to the Plan and to any outstanding Options, in the Section 162(m) Grant Limit set forth in Section 5.4, and in the exercise price per share of any outstanding Options in order to
prevent dilution or enlargement of Optionees' rights under the Plan. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 4.2 shall be
rounded down to the nearest whole number, and in no event may the exercise price of any Option be decreased to an amount less than the par value, if any, of the stock subject to the Option. The
adjustments determined by the Board pursuant to this Section 4.2 shall be final, binding and conclusive. 

        5.    ELIGIBILITY AND OPTION LIMITATIONS.    

        5.1    Persons Eligible for Options.    Options may be granted only to Employees and
Consultants. For purposes of the foregoing sentence, "Employees" and "Consultants" shall include prospective Employees and prospective Consultants to whom Options are granted in connection 

5

 

with written offers of an employment or other service relationship with the Participating Company Group. Eligible persons may be granted more than one (1) Option. However, eligibility in
accordance with this Section shall not entitle any person to be granted an Option, or, having been granted an Option, to be granted an additional Option. 

        5.2    Option Grant Restrictions.    Any person who is not an Employee on the effective date
of the grant of an Option to such person may be granted only a Nonstatutory Stock Option. An Incentive Stock Option granted to a prospective Employee upon the condition that such person become an
Employee shall be deemed granted effective on the date such person commences Service with a Participating Company, with an exercise price determined as of such date in accordance with
Section 6.1. 

        5.3    Fair Market Value Limitation.    To the extent that options designated as Incentive
Stock Options (granted under all stock option plans of the Participating Company Group, including the Plan) become exercisable by an Optionee for the first time during any calendar year for stock
having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portions of such options which exceed such amount shall be treated as Nonstatutory Stock Options. For purposes of
this Section 5.3, options designated as Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of stock shall be determined as of
the time the option with respect to such stock is granted. If the Code is amended to provide for a different limitation from that set forth in this Section 5.3, such different limitation shall
be deemed incorporated herein effective as of the date and with respect to such Options as required or permitted by such amendment to the Code. If an Option is treated as an Incentive Stock Option in
part and as a Nonstatutory Stock Option in part by reason of the limitation set forth in this Section 5.3, the Optionee may designate which portion of such Option the Optionee is exercising. In
the absence of such designation, the Optionee shall be deemed to have exercised the Incentive Stock Option portion of the Option first. Separate certificates representing each such portion shall be
issued upon the exercise of the Option. 

        5.4    Section 162(m) Grant Limit.    Subject to adjustment as provided in
Section 4.2, at any such time as a Participating Company is a "publicly held corporation" within the meaning of Section 162(m), no Employee or prospective Employee shall be granted one
or more Options within any fiscal year of the Company which in the aggregate are for the purchase of more than one hundred thousand (100,000) shares (the "Section 162(m)
Grant Limit"). An Option which is canceled in the same fiscal year of the Company in which it was granted shall continue to be counted against the Section 162(m) Grant
Limit for such period. 

        5.5    Prohibition on Repricing of Options.    Without the consent of the Company's
stockholders, no grant of an Option under the Plan shall be made contingent upon the surrender or cancellation by the holder of such Option of an outstanding Option that has an exercise price higher
than that of the new Option, nor shall any outstanding Option be modified or amended to reduce the exercise price thereof. 

        6.    TERMS AND CONDITIONS OF OPTIONS.    

        Options
shall be evidenced by Option Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall from time to time establish. No Option or
purported Option shall be a valid and binding obligation of the Company unless evidenced by a fully executed Option Agreement. Option Agreements may incorporate all or any of the terms of the Plan by
reference and shall comply with and be subject to the following terms and conditions: 

        6.1    Exercise Price.    The exercise price for each Option shall be established in the
discretion of the Board; provided, however, that (a) the exercise price per share for an Option shall be not less than the Fair Market Value of a share of Stock on the effective date of grant
of the Option 

6

 

and (b) no Incentive Stock Option granted to a Ten Percent Owner Optionee shall have an exercise price per share less than one hundred ten percent (110%) of the Fair Market Value of a share of
Stock on the effective date of grant of the Option. Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock Option) may be granted with an exercise price
lower than the minimum exercise price set forth above if such Option is granted pursuant to an assumption or substitution for another option in a manner qualifying under the provisions of
Section 424(a) of the Code. 

        6.2    Exercisability and Term of Options.    Options shall be exercisable at such time or
times, or upon such event or events, and subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Board and set forth in the Option Agreement evidencing
such Option; provided, however, that (a) no Option shall be exercisable after the expiration of ten (10) years after the effective date of grant of such Option, (b) no Incentive
Stock Option granted to a Ten Percent Owner Optionee shall be exercisable after the expiration of five (5) years after the effective date of grant of such Option, and (c) no Option
granted to a prospective Employee or prospective Consultant may become exercisable prior to the date on which such person commences Service with a Participating Company. Subject to the foregoing,
unless otherwise specified by the Board in the grant of an Option, any Option granted hereunder shall terminate ten (10) years after the effective date of grant of the Option, unless earlier
terminated in accordance with its provisions. 

        6.3    Payment of Exercise Price.    

        (a)    Forms of Consideration Authorized.    Except as otherwise provided below, payment of
the exercise price for the number of shares of Stock being purchased pursuant to any Option shall be made (i) in cash, by check or cash equivalent, (ii) by tender to the Company, or
attestation to the ownership, of shares of Stock owned by the Optionee having a Fair Market Value (as determined by the Company without regard to any restrictions on transferability applicable to such
stock by reason of federal or state securities laws or agreements with an underwriter for the Company) not less than the exercise price, (iii) by delivery of a properly executed notice together
with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with respect to some or all of the shares being acquired upon the exercise of
the Option (including, without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve
System) (a "Cashless Exercise"), (iv) provided that the Optionee is an Employee (unless otherwise not prohibited by law, including, without
limitation, any regulation promulgated by the Board of Governors of the Federal Reserve System) and in the Company's sole discretion at the time the Option is exercised, by delivery of the Optionee's
promissory note in a form approved by the Company for the aggregate exercise price, provided that the Optionee shall pay in cash that portion of the aggregate exercise price not less than the par
value of the shares being acquired, (v) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or (vi) by any
combination thereof. The Board may at any time or from time to time, by approval of or by amendment to the standard forms of Option Agreement
described in Section 7, or by other means, grant Options which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict
one or more forms of consideration. 

        (b)    Limitations on Forms of Consideration.    

        (i)    Tender of Stock. Notwithstanding the foregoing, an Option may not be exercised by tender to the Company, or attestation
to the ownership, of shares of Stock to the extent such tender or attestation would constitute a violation of the provisions of any law, 

7

 

regulation or agreement restricting the redemption of the Company's stock. Unless otherwise provided by the Board, an Option may not be exercised by tender to the Company, or attestation to the
ownership, of shares of Stock unless such shares either have been owned by the Optionee for more than six (6) months (and not used for another Option exercise by attestation during such period)
or were not acquired, directly or indirectly, from the Company. 

        (ii)  Cashless Exercise. The Company reserves, at any and all times, the right, in the Company's sole and absolute discretion,
to establish, decline to approve or terminate any program or procedures for the exercise of Options by means of a Cashless Exercise. 

        (iii)  Payment by Promissory Note. No promissory note shall be permitted if the exercise of an Option using a promissory note
would be a violation of any law. Any permitted promissory note shall be on such terms as the Board shall determine at the time the Option is granted. The Board shall have the authority to permit or
require the Optionee to secure any promissory note used to exercise an Option with the shares of Stock acquired upon the exercise of the Option or with other collateral acceptable to the Company.
Unless otherwise provided by the Board, if the Company at any time is subject to the regulations promulgated by the Board of Governors of the Federal Reserve System or any other governmental entity
affecting the extension of credit in connection with the Company's securities, any promissory note shall comply with such applicable regulations, and the Optionee shall pay the unpaid principal and
accrued interest, if any, to the extent necessary to comply with such applicable regulations. 

        6.4    Tax Withholding.    The Company shall have the right, but not the obligation, to deduct
from the shares of Stock issuable upon the exercise of an Option, or to accept from the Optionee the tender of, a number of whole shares of Stock having a Fair Market Value, as determined by the
Company, equal to all or any part of the federal, state, local and foreign taxes, if any, required by law to be withheld by the Participating Company Group with respect to such Option or the shares
acquired upon the exercise thereof. Alternatively or in addition, in its discretion, the Company shall have the right to require the Optionee, through payroll withholding, cash payment or otherwise,
including by means of a Cashless Exercise, to make adequate provision for any such tax withholding obligations of the Participating Company Group arising in connection with the Option or the shares
acquired upon the exercise thereof. The Fair Market Value of any shares of Stock withheld or tendered to satisfy any such tax
withholding obligations shall not exceed the amount determined by the applicable minimum statutory withholding rates. The Company shall have no obligation to deliver shares of Stock or to release
shares of Stock from an escrow established pursuant to the Option Agreement until the Participating Company Group's tax withholding obligations have been satisfied by the Optionee. 

        6.5    Repurchase Rights.    Shares issued under the Plan may be subject to a right of first
refusal, one or more repurchase options, or other conditions and restrictions as determined by the Board in its discretion at the time the Option is granted. The Company shall have the right to assign
at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company. Upon request by the Company, each Optionee shall
execute any agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the Company any and all certificates representing shares of
Stock acquired hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions. 

        6.6    Effect of Termination of Service.    

        (a)    Option Exercisability.    Subject to earlier termination of the Option as otherwise
provided herein and unless otherwise provided by the Board in the grant of an Option and set 

8

 

forth in the Option Agreement, an Option shall be exercisable after an Optionee's termination of Service only during the applicable time period determined in accordance with this Section 6.6
and thereafter shall terminate: 

        (i)    Disability. If the Optionee's Service with the Participating Company Group terminates because of the Disability of the
Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee's Service terminated, may be exercised by the Optionee (or the Optionee's guardian or legal
representative) at any time prior to the expiration of twelve (12) months (or such longer period of time as determined by the Board, in its discretion) after the date on which the Optionee's
Service terminated, but in any event no later than the date of expiration of the Option's term as set forth in the Option Agreement evidencing such Option (the "Option
Expiration Date"). 

        (ii)  Death. If the Optionee's Service with the Participating Company Group terminates because of the death of the Optionee,
the Option, to the extent unexercised and exercisable on the date on which the Optionee's Service terminated, may be exercised by the Optionee's legal representative or other person who acquired the
right to exercise the Option by reason of the Optionee's death at any time prior to the expiration of twelve (12) months (or such longer period of time as determined by the Board, in its
discretion) after the date on which the Optionee's Service terminated, but in any event no later than the Option Expiration Date. The Optionee's Service shall be deemed to have terminated on account
of death if the Optionee dies within three (3) months (or such longer period of time as determined by the Board, in its discretion) after the Optionee's termination of Service. 

        (iii)  Other Termination of Service. If the Optionee's Service with the Participating Company Group terminates for any reason,
except Disability or death, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee's Service terminated, may be exercised by the Optionee at any time
prior to the expiration of three (3) months (or such longer period of time as determined by the Board, in its discretion) after the date on which the Optionee's Service terminated, but in any
event no later than the Option Expiration Date. 

        (b)    Extension if Exercise Prevented by Law.    Notwithstanding the foregoing, if the
exercise of an Option within the applicable time periods set forth in Section 6.6(a) is prevented by the provisions of Section 10 below, the Option shall remain exercisable until three
(3) months (or such longer period of time as determined by the Board, in its discretion) after the date the Optionee is notified by the Company that the Option is exercisable, but in any event
no later than the Option Expiration Date. 

        (c)    Extension if Optionee Subject to Section 16(b).    Notwithstanding the
foregoing, if a sale within the applicable time periods set forth in Section 6.6(a) of shares acquired upon the exercise of the Option would subject the Optionee to suit under
Section 16(b) of the Exchange Act, the Option shall remain exercisable until the earliest to occur of (i) the tenth (10th) day following the date on which a sale of such shares by the
Optionee would no longer be subject to such suit, (ii) the one hundred and ninetieth (190th) day after the Optionee's termination of Service, or (iii) the Option Expiration Date. 

        6.7    Transferability of Options.    During the lifetime of the Optionee, an Option shall be
exercisable only by the Optionee or the Optionee's guardian or legal representative. No Option shall be assignable or transferable by the Optionee, except by will or by the laws of descent and
distribution. Notwithstanding the foregoing, to the extent permitted by the Board, in its discretion, and set forth in the Option Agreement evidencing such Option, a Nonstatutory Stock Option shall 

9

 

be assignable or transferable subject to the applicable limitations, if any, described in the General Instructions to Form S-8 Registration Statement under the Securities Act. 

        7.    STANDARD FORMS OF OPTION AGREEMENT.    

        7.1    Option Agreement.    Unless otherwise provided by the Board at the time the Option is
granted, an Option shall comply with and be subject to the terms and conditions set forth in the form of Option Agreement approved by the Board concurrently with its adoption of the Plan and as
amended from time to time. 

        7.2    Authority to Vary Terms.    The Board shall have the authority from time to time to
vary the terms of any standard form of Option Agreement described in this Section 7 either in connection with the grant
or amendment of an individual Option or in connection with the authorization of a new standard form or forms; provided, however, that the terms and conditions of any such new, revised or amended
standard form or forms of Option Agreement are not inconsistent with the terms of the Plan. 

        8.    CHANGE OF CONTROL.    

        8.1    Definitions.    

        (a)  An
"Ownership Change Event" shall be deemed to have occurred if any of the following occurs with respect to the Company:
(i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of more than fifty percent (50%) of the voting stock of the Company;
(ii) a merger or consolidation in which the Company is a party; (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company; or (iv) a
liquidation or dissolution of the Company. 

        (b)  A
"Change of Control" shall mean an Ownership Change Event or a series of related Ownership Change Events (collectively,
a "Transaction") wherein the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction, in
substantially the same proportions as their ownership of shares of the Company's voting stock immediately before the Transaction, direct or indirect beneficial ownership of more than fifty percent
(50%) of the total combined voting power of the outstanding voting securities of the Company or, in the case of a Transaction described in Section 8.1(a)(iii), the corporation or other business
entity to which the assets of the Company were transferred (the "Transferee"), as the case may be. For purposes of the preceding sentence, indirect
beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company or
the Transferee, as the case may be, either directly or through one or more subsidiary corporations or other business entities. The Board shall have the right to determine whether multiple sales or
exchanges of the voting securities of the Company or multiple Ownership Change Events are related, and its determination shall be final, binding and conclusive. 

        8.2    Effect of Change of Control on Options.    In the event of a Change of Control, any
unexercised or unvested portions of outstanding Options and any shares acquired upon the exercise thereof held by the Optionee whose Service has not terminated prior to the Change of Control shall be
immediately exercisable and vested in full as of the date ten (10) days prior to the date of the Change of Control. The exercise or vesting of any Option and any shares that was permissible
solely by reason of this Section 8.2 shall be conditioned upon the consummation of the Change of Control. The surviving, continuing, successor, or purchasing corporation or other business
entity or parent thereof, as the case may be (the "Acquiring Corporation"), may, without the consent of any Optionee, either assume the Company's rights
and obligations under outstanding Options or substitute for outstanding Options substantially equivalent options for the Acquiring Corporation's stock. Any Options which are neither assumed or
substituted for by the 

10

 

Acquiring Corporation in connection with the Change of Control nor exercised as of the date of the Change of Control shall terminate and cease to be outstanding effective as of the date of the Change
of Control. Notwithstanding the foregoing, if the corporation the stock of which is subject to outstanding Options immediately prior to an Ownership Change Event described in
Section 8.1(a)(i) constituting a Change of Control is the surviving or continuing corporation and immediately after such Ownership Change Event less than fifty percent (50%) of the total
combined voting power of its voting stock is held by another corporation or by other corporations that are members of an affiliated group within the meaning of Section 1504(a) of the Code
without regard to the provisions of Section 1504(b) of the Code, the outstanding Options shall not terminate unless the Board otherwise provides in its discretion. 

        9.    PROVISION OF INFORMATION.    

        Each
Optionee shall be given access to information concerning the Company equivalent to that information generally made available to the Company's common stockholders. 

        10.    COMPLIANCE WITH SECURITIES LAW.    

        The
grant of Options and the issuance of shares of Stock upon exercise of Options shall be subject to compliance with all applicable requirements of federal, state and foreign law with
respect to such securities. Options may not be exercised if the issuance of shares of Stock upon exercise would constitute a violation of any applicable federal, state or foreign securities laws or
other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed. In addition, no Option may be exercised unless (a) a registration
statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the shares issuable upon exercise of the Option or (b) in the opinion of legal
counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act.
The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company's legal counsel to be necessary to the lawful issuance and sale of any
shares hereunder shall relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to
the exercise of any Option, the Company may require the Optionee to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to
make any representation or warranty with respect thereto as may be requested by the Company. 

        11.    TERMINATION OR AMENDMENT OF PLAN.    

        The
Board may terminate or amend the Plan at any time. However, subject to changes in applicable law, regulations or rules that would permit otherwise, without the approval of the
Company's stockholders, there shall be (a) no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation of the provisions of
Section 4.2), (b) no change in the
class of persons eligible to receive Incentive Stock Options, and (c) no other amendment of the Plan that would require approval of the Company's stockholders under any applicable law,
regulation or rule. No termination or amendment of the Plan shall affect any then outstanding Option unless expressly provided by the Board. In any event, no termination or amendment of the Plan may
adversely affect any then outstanding Option without the consent of the Optionee, unless such termination or amendment is required to enable an Option designated as an Incentive Stock Option to
qualify as an Incentive Stock Option or is necessary to comply with any applicable law, regulation or rule. 

11

 

        IN
WITNESS WHEREOF, the undersigned Secretary of the Company certifies that the foregoing sets forth the Tab Products Co. 2001 Stock Option Plan as duly adopted by the Board on
August 16, 2001 and first approved by the stockholders of the Company on October 16, 2001. 

	 	 	/s/ Caroline A. Damask
 Secretary

12

QuickLinks

Exhibit 10.44

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}]]