Document:

EXHIBIT
10.12

Grant
No.:              

U-STORE-IT
TRUST

2004
EQUITY INCENTIVE PLAN

TRUSTEE
RESTRICTED SHARE AGREEMENT

U-Store-It Trust, a Maryland real estate investment
trust (the “Company”), grants common shares of beneficial interest, $.01 par
value (the “Shares”), of the Company to the Grantee named below, subject to the
vesting conditions set forth in the attachment. Additional terms and conditions
of the grant are set forth in this cover sheet, in the attachment, and in the
Company’s 2004 Equity Incentive Plan (the “Plan”).

Grant Date:

Name of Grantee:

Number of Shares Covered by Grant:

By signing this
cover sheet, you agree to all of the terms and conditions described in the
attached Agreement and in the Plan, a copy of which will be provided on request.
You acknowledge that you have carefully reviewed the Plan and agree that the
Plan will control in the event any provision of this Agreement should appear to
be inconsistent with the terms of the Plan.

 

	
  Grantee:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
   

  
	
  Company:

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Dean Jernigan

  
	
   

  	
  Title:

  	
  President and Chief Executive Officer

  
				

 

This is
not a share certificate or a negotiable instrument.

U-STORE-IT
TRUST

2004
EQUITY INCENTIVE PLAN

RESTRICTED
SHARE AGREEMENT

	
  Restricted Shares/ Nontransferability

  	
   

  	
  This grant is an award of Shares in the number of
  Shares set forth on the cover sheet subject to the vesting conditions
  described below (“Restricted Shares”). To the extent not yet vested, your
  Restricted Shares may not be transferred, assigned, pledged or hypothecated,
  whether by operation of law or otherwise, nor may the Restricted Shares be
  made subject to execution, attachment or similar process.

  
	
   

  	
   

  	
   

  
	
  Issuance and Vesting

  	
   

  	
  The Company will, in its sole discretion, either (i)
  issue your Restricted Shares in your name as of the Grant Date, or (ii)
  maintain a record of this grant and issue any Shares as and when such Shares
  vest.

   

  Your right to the Shares under this Restricted Share
  Agreement vests as to the total number of Shares covered by this grant, as
  shown on the cover sheet, on the first anniversary of the Grant Date provided
  you then continue in Service.

   

  Your right to the Shares under this Restricted Share
  Agreement will become fully vested on your termination of Service due to death
  or disability. No additional Shares will vest after your Service has
  terminated for any reason.

  
	
   

  	
   

  	
   

  
	
  Forfeiture of Unvested Shares

  	
   

  	
  In the event that your Service terminates for any
  reason other than death or disability, you will forfeit to the Company all of
  the Shares subject to this grant that have not yet vested.

  
	
   

  	
   

  	
   

  
	
  Withholding Taxes

  	
   

  	
  You agree, as a condition of this grant, that you
  will make acceptable arrangements to pay any withholding or other taxes that
  may be due as a result of the vesting of Shares acquired under this grant. In
  the event that the Company determines that any federal, state, local or
  foreign tax or withholding payment is required relating to the vesting of
  Shares arising from this grant, the Company shall have the right to require
  such payments from you or withhold such amounts from other payments due to
  you from the Company or any Affiliate.

  
	
   

  	
   

  	
   

  
	
  Retention Rights

  	
   

  	
  This Agreement does not give you the right to be
  retained by the Company (or any parent, Subsidiaries or Affiliates) in any
  capacity.

  

 

 2
 

 

	
  Shareholder Rights

  	
   

  	
  You have the right to vote the Restricted Shares and
  to receive any dividends declared or paid on such Shares. Any distributions
  you receive as a result of any split, stock dividend, combination of Shares
  or other similar transaction shall be deemed to be a part of the Restricted
  Shares and subject to the same conditions and restrictions applicable
  thereto. Except as described in the Plan, no adjustments are made for
  dividends or other rights if the applicable record date occurs before your
  share certificate is issued.

  
	
   

  	
   

  	
   

  
	
  Adjustments

  	
   

  	
  In the event of a split, a dividend or a similar
  change in the Shares, the number of Shares covered by this grant may be
  adjusted (and rounded down to the nearest whole number) pursuant to the Plan.
  Your Restricted Shares shall be subject to the terms of the agreement of
  merger, liquidation or reorganization in the event the Company is subject to
  such corporate activity.

  
	
   

  	
   

  	
   

  
	
  Legends

  	
   

  	
  Any certificates representing the Shares issued in
  connection with this grant shall, where applicable, have endorsed thereon the
  following legends:

   

  “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE
  SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER SET FORTH IN AN AGREEMENT BETWEEN
  THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST.
  A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY
  AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY BY
  THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE.”

  
	
   

  	
   

  	
   

  
	
  Applicable Law

  	
   

  	
  This Agreement will be interpreted and enforced
  under the laws of the State of Maryland, other than any conflicts or choice
  of law rule or principle that might otherwise refer construction or interpretation
  of this Agreement to the substantive law of another jurisdiction.

  
	
   

  	
   

  	
   

  
	
  The Plan

  	
   

  	
  The text of the Plan is incorporated in this
  Agreement by reference. Certain capitalized terms used in this Agreement are
  defined in the Plan, and have the meaning set forth in the Plan.

   

  This Agreement and the Plan constitute the entire
  understanding between you and the Company regarding this grant of Restricted
  Shares. Any prior agreements, commitments or negotiations concerning this
  grant are superseded.

  

 

 3
 

 

	
  Data Privacy

  	
   

  	
  In order to administer the Plan, the Company may
  process personal data about you. Such data includes, but is not limited to,
  the information provided in this Agreement and any changes thereto, other
  appropriate personal and financial data about you such as home address and
  business addresses and other contact information, payroll information and any
  other information that might be deemed appropriate by the Company to
  facilitate the administration of the Plan.

   

  By accepting this grant, you give explicit consent
  to the Company to process any such personal data. You also give explicit
  consent to the Company to transfer any such personal data outside the country
  in which you work or are employed, including, with respect to non-U.S.
  resident Grantees, to the United States, to transferees who shall include the
  Company and other persons who are designated by the Company to administer the
  Plan.

  
	
   

  	
   

  	
   

  
	
  Consent to Electronic Delivery

  	
   

  	
  The Company may choose to deliver certain statutory
  materials relating to the Plan in electronic form. By accepting this grant,
  you agree that the Company may deliver the Plan prospectus and the Company’s
  annual report to you in an electronic format. If at any time you would prefer
  to receive paper copies of these documents, as you are entitled to, the
  Company would be pleased to provide copies. Please contact the Secretary of
  the Company to request paper copies of these documents.

  

 

By signing the cover sheet of
this Agreement, you agree to all of the terms and conditions described above
and in the Plan.

 4Exhibit 10.1

CONSULTING
AGREEMENT

AGREEMENT, dated as of October 1, 1995, between
EUGENE CORDES, Ph.D. (“Consultant”) and VERTEX PHARMACEUTICALS INCORPORATED (“Vertex”),
a Massachusetts corporation.

WHEREAS, Vertex desires to retain the services of
Consultant as a member of Vertex’s Scientific
Advisory Board and in a consulting capacity with respect to certain activities
as described in this Agreement, and Consultant is willing to so act; and

WHEREAS, Consultant is an employee and member of the
staff of the University of Michigan (the “Institution”);

NOW, THEREFORE,
Consultant and Vertex agree as follows:

1.         Description of
Services.   Vertex hereby retains Consultant as a consultant to Vertex
and Consultant hereby agrees to use his or her best efforts to perform services
for Vertex as follows. Consultant shall serve as a member of Vertex’s
Scientific Advisory Board, and shall perform
an estimated five (5) days of consultation per year with Vertex’s
scientists or management or as otherwise designated by Vertex, in the
form of formal meetings of the Scientific Advisory Board and a reasonable
amount of informal consultation over the telephone or otherwise. Consultant may
from time to time be unavailable to attend Advisory Board meetings or perform
other consulting duties, due to other prior obligations including but not
limited to teaching and other academic and research duties and attending
scientific conferences, and such unavailability shall not be considered a
breach of this Agreement.

2.     Term and
Expiration.   This Agreement shall become effective as of the
date first set forth above, and shall remain
in effect for one (1) year, and shall continue in effect thereafter until terminated by either party upon not less than
thirty (30) days prior written notice. Notwithstanding the foregoing,
Vertex may terminate this Agreement forthwith by notice in writing to the
Consultant in the event of default by the Consultant hereunder, or if Vertex
determines that any employment agreement or other arrangement referred to in Section 9
might create a conflict of interest. Any
termination of this Agreement shall be without prejudice to any obligation by
either party which shall have accrued and then be owing. The obligations
of the Consultant under Section 6, 7, and 8 of this Agreement shall
survive the expiration or any termination of this Agreement.

3.         Compensation.   For all services
provided hereunder, Vertex will pay Consultant an annual fee of $20,000 plus
$1,000 for each full day of meetings or consultation sessions that Consultant actually attends at the request of
Vertex hereunder. Payments will be made quarterly in advance, in equal
quarterly installments of $5,000 each, paid within 30 days after the beginning
of each calendar quarter and
commencing with the calendar quarter beginning on or after the effective date,
plus per diem payments due for
consulting time actually spent in the previous quarter as determined by Vertex. The initial payment will
include a payment pro  rata to reflect the period, if any, from the effective date of this agreement to
the beginning of the first full calendar quarter in which this Agreement is
effective. In addition, upon the approval of Vertex’s Board of Directors, Vertex shall grant to the Consultant a
non-qualified stock option for the purchase of 20,000 shares of Vertex’s Common
Stock at an exercise price equal to the fair market value per share of Vertex’s
Common Stock on the date of grant of such option. Such option shall have
a term of ten (10) years and shall
vest over a period of five (5) years from the date hereof, so long as the
Consultant continues to serve as a member of the Scientific Advisory
Board.

4.     Expenses.   Vertex
will reimburse Consultant for any actual expenses incurred by Consultant while rendering services under this
Agreement so long as the expenses are reasonable and necessary. Such expenses shall include reasonable and necessary
travel, lodging and meals in connection with services 

 1
 

performed
under this Agreement. Requests for reimbursement shall be in a form
reasonably acceptable to Vertex.

5.     Institutional Agreements.   Prior to
entering into this Agreement with Vertex, Consultant was employed, and
continues to be employed, by the Institution. Vertex recognizes that in
connection with Consultant’s employment by the Institution, Consultant’s
primary responsibility is to the Institution. In connection with such employment,
Consultant may have entered into agreements
relating to ownership of patent rights and other matters with the Institution (“Institutional
Agreements”). Vertex hereby acknowledges the existence of the Institutional
Agreements and agrees to take no actions which would result in Consultant’s
violating the Institutional Agreements. If
any provision of this Agreement is in conflict with any provisions of the
Institutional Agreements, then the provisions of the Institutional Agreements
shall govern and the conflicting provisions of this Agreement shall be
void.

6.     Intellectual Property.   The
Consultant hereby agrees that any and all data, results, information,
inventions, improvements, ideas, trademarks, formulae, processes, experimental
protocols, techniques, know-how and innovations, whether patentable or not,
which the Consultant may create, invent, discover, originate, make or conceive
during the course of or in connection with
his or her consultancy to Vertex hereunder, whether or not reduced to writing
or practice, either solely or jointly with others, which result from (a) tasks
assigned to Consultant by Vertex or otherwise performed by Consultant
pursuant to this Agreement, (b) tasks funded by Vertex, or (c) use of
materials or premises owned, leased or contracted for by Vertex (all the
foregoing collectively hereinafter called “Intellectual Property”) shall be the
sole and exclusive property of Vertex and the Consultant hereby assigns the
same to Vertex. The Consultant shall promptly
and fully disclose all such Intellectual Property to Vertex. The Consultant
further agrees at any time, upon the request and at the expense of
Vertex, for the benefit of Vertex or Vertex’s nominees, to execute any and all
applications, assignments, instruments and papers, including patent applications, which Vertex shall deem
necessary or desirable to protect or perfect its entire right, title and interest in and to any of the
Intellectual Property, to testify in any proceeding in the Patent Office
or in the courts, and generally to do everything lawfully possible to aid
Vertex, its successors, assigns and
nominees to obtain, enjoy and enforce proper patent or other protection for the
Intellectual Property.

7.         Confidential
Information.   The Consultant shall hold all of Vertex’s
Confidential Information in confidence and
shall not disclose any Confidential Information to any third party. The
Consultant shall use the same level of care to prevent any unauthorized use or
disclosure of such Confidential Information as the Consultant exercises in
protecting the Consultant’s own information
of similar nature. The Consultant shall not use Vertex’s Confidential
Information for any purpose except as may be necessary in the ordinary course
of performing Consultant’s duties hereunder, without the prior written
consent of Vertex. For purposes hereof, Vertex’s “Confidential Information”
shall mean (a) all Intellectual Property, as defined above, and (b) all
confidential and proprietary data, trade secrets, business plans, and other
information of a confidential or proprietary nature, belonging to Vertex or
third parties with whom it may have business dealings, disclosed or otherwise
made available to the Consultant by Vertex; provided, however, that Confidential Information shall not include
information the Consultant receives from Vertex which the Consultant
establishes by competent proof: (i) is in the public domain at the time of
disclosure; (ii) after disclosure, becomes part of the public domain by publication
or otherwise, except by breach of this Agreement; (iii) was in the
Consultant’s possession at the time of disclosure
by Vertex; or (iv) which the Consultant shall receive from a third party
who has the right to disclose it to the Consultant.

8.         Technical Records.   All
documents, data, records, apparatus, equipment and other physical property, whether or not pertaining to
Intellectual Property or Confidential Information, furnished to
Consultant by Vertex or produced by Consultant or others in connection with
Consultant’s retention hereunder shall be and remain the sole property of
Vertex and shall be returned promptly to Vertex as and when requested by
Vertex. In any event, Consultant shall return and deliver all such property,
including any copies thereof, upon termination of his or her retention as a
consultant hereunder for any reason.

 2
 

9.     Covenant with Respect to
Competition.   During the term of this Agreement, Consultant agrees to inform Vertex promptly in
writing of any activity by the Consultant to own, directly or
indirectly, manage, operate, join, control, finance, consult to, advise or
participate in the ownership, management, operation, control or financing of,
or be connected as an officer, director,
employee, partner, principal, agent, representative, consultant or otherwise
with, or allow his name to be used
in any advertisement of, or solicit or attempt to solicit business on behalf
of, any person, business or
enterprise which is engaged in protein structure-based rational drug design in
actual or potential direct competition with Vertex or its affiliates.

10.      No Conflict.   Consultant
represents that his or her performance of the terms of this Agreement and that his or her retention as a
consultant by Vertex does not and will not breach any agreement to keep in confidence any proprietary
information acquired by Consultant in confidence or in trust prior to
his or her retention by Vertex. Consultant has not entered into, and agrees he will
not enter into, any agreement, either written or oral, in conflict herewith.
Consultant understands as part of the
consideration for the offer to retain him or her as a consultant, and of his or
her retention as a consultant by Vertex, that the Consultant has not brought
and will not bring with him or her to Vertex or use in the performance of the
Consultant’s responsibilities at Vertex any equipment, supplies, facility or
trade secret information of any current or former employer which are not
generally available to the public, unless the Consultant has obtained written authorization for their possession and use.
Consultant also understands that, in his or her retention as a consultant to
Vertex, he or she is not to breach any obligation of confidentiality that he or
she has to others, and the Consultant agrees to fulfill all such
obligations during the Consultant’s retention by Vertex.

In addition,
Consultant agrees and attests as follows:

10.1   Except
as disclosed in writing to Vertex, Consultant does not own directly or
indirectly 5% or more of the stock or other equity securities of any entity
which is a present or prospective competitor, customer or supplier of Vertex;

10.2   Except
as disclosed in writing to Vertex, Consultant knows of no legal proceedings
pending or threatened against Consultant, and no reasonable basis for any such
proceedings, and no court or administrative order, which (a) would
conflict with Consultant’s obligations
hereunder or question the validity of this Agreement; (b) might result in
any material adverse change in the business or prospects of Vertex; or (c) might
be based upon either Consultant’s past
employment relationships as they may relate to this Agreement.

10.3   Except
as disclosed in writing to Vertex, Consultant knows of no fact concerning the Consultant (either professionally
and personally) which would affect the business or prospects of Vertex
in a material adverse way.

11.   Independent Contractor.   Nothing
contained in this Agreement shall be deemed to constitute the Consultant an
employee of Vertex, it being the intent of both the Consultant and Vertex to establish an independent contractor
relationship, nor shall the Consultant have authority to bind Vertex in
any manner whatsoever by reason of this Agreement.

12.   Notices.   Any notice given under this Agreement shall be deemed delivered when delivered
by hand or by registered or certified mail or air courier addressed to the
parties at their respective addresses set forth below or at such other address
as either party may provide to the other in writing from time to time:

	
  Vertex:

  	
   

  	
  Vertex Pharmaceuticals Incorporated

  
	
   

  	
   

  	
  40 Allston Street 

  
	
   

  	
   

  	
  Cambridge, MA 02139-4211

  
	
   

  	
   

  	
  Attention:
  Chief Scientific Officer

  
	
   

  	
   

  	
   

  

 3
 

 

	
  Consultant:

  	
   

  	
  Dr. Eugene Cordes

  
	
   

  	
   

  	
  867
  Lesley Rd.

  
	
   

  	
   

  	
  Villanova, PA 19085

  

 

13.   Assignment.   The
rights and obligations of the parties hereunder shall inure to the benefit of, and shall be binding upon their
respective successors and assigns, provided,
however, that the
Consultant may not assign this Agreement without the prior written consent of
Vertex.

14.   Specific Performance.   Consultant
acknowledges that Vertex will have no adequate remedy at law if Consultant
violates the terms of Sections 6, 7 or 8 hereof. In such event, Vertex shall have the right, in addition
to any other rights it may have, to obtain in any court of competent jurisdiction, injunctive or other
relief to restrain any breach or threatened breach of this Agreement.

15.   General.   This
Agreement embodies the entire agreement between the parties and supersedes any prior or contemporaneous
understandings with respect to the subject matter hereof. Neither this
Agreement nor any term, covenant, condition or other provision hereof may be changed, waived, discharged or terminated except
by an instrument in writing signed by the party against which enforcement of
the change, waiver, discharge or termination is sought.

16.   Governing Law.   This
Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts.

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first written above.

	
  CONSULTANT

  	
  VERTEX PHARMACEUTICALS INCORPORATED

  
	
  /s/ EUGENE CORDES

  	
   

  	
  By:

  	
  /s/ VICKI L. SATO, PH.D.

  	
   

  
	
  Eugene Cordes

  	
   

  	
  Vicki L. Sato, Ph.D.

  
	
   

  	
   

  	
  Senior
  Vice President, Research & Development

  Chief Scientific Officer

  
					

 

 4

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