Document:

Exhibit 10.1

 

AMENDMENT TO CITY NATIONAL CORPORATION

1995 OMINIBUS PLAN

 

 

WHEREAS, the Company has previously adopted
the City National Corporation 1995 Omnibus Plan (the “Plan”) on February 22,
1995, and the Plan was approved by the shareholders of the Company on April 18,
1995, and the Plan was previously amended on April 16, 1997; and

 

WHEREAS, the Board is authorized to amend the
Plan pursuant to Section 7.6(a) of the Plan; and

 

WHEREAS, the Board has been advised that
shareholder approval of this Amendment to the Plan is not required by Rule
16b-3 or Section 424 of the Code or to comply with any other applicable law,
and has determined that shareholder approval is not necessary or advisable for
any other reason;

 

NOW, THEREFORE, pursuant to Section 7.6(a) of
the Plan, the Plan is hereby amended as follows:

 

1.             Notwithstanding any
other provision of the Plan, the Committee may grant to any Eligible Employee
(including Other Eligible Persons) an Award (including, but not limited to
restricted units or other deferred Awards) which will be payable in shares of
Common Stock (a “Share Award”) and/or in Cash Only Awards on such terms as the
Committee may determine in its sole discretion.  Such Awards may be made as additional compensation for services
or may be in lieu of other compensation which the Eligible Employee is entitled
to receive from the Company.  All such
Share Awards and Cash Only Awards shall constitute Awards for all purposes of
the Plan, and shall be subject to the limits on Awards which are payable in
Shares and in cash which are contained in the Plan.

 

2.             Notwithstanding any
other provision of the Plan, the Committee may grant Dividend Equivalents in
connection with any Award which is made under the Plan on such terms as the
Committee may determine in its sole discretion.

 

3.             All capitalized
terms which are used herein shall have the same definitions which are contained
in the Plan, unless otherwise defined herein.Exhibit 10.110

 

Michael W. Reschke

Chairman of the Board

Chief
Executive Officer

 

 

June 11, 2003

 

 

Gary J. Skoien

 

 

 

	
  RE:

  	
   

  	
  Amendment
  to Net Profits Interest In Huntley Development Limited Partnership and
  Huntley Meadows Residential Venture

  

 

Dear Gary:

 

Reference is hereby made to that certain letter
agreement, dated October 29, 2001 (the “10/29/01 Letter”), as
subsequently amended, between you and The Prime Group, Inc.  Capitalized terms used in this letter that
are no specifically defined in this letter, but that are defined in the
10/29/01 Letter, shall have the meanings given such term in the 10/29/01
Letter.

 

The 10/29/01 Letter, in part, provides that you are
entitled to a certain percent of the net proceeds received by Prime from HDLP
and HMRV (the “GJS Huntley Net Profits Interest”).  The purpose of this letter is to amend and
restate the portion of the 10/29/01 Letter to clarify terms of the 10/20/01
Letter relating to the GJS Huntley Net Profits Interest.  Attached hereto is the amended and restated provisions
relating to the GJS Huntley Net Profits Interest.

 

Please execute and return to me one copy of this
letter indicating your agreement to and acceptance of the amended and restated
provisions relating to of the GJS Huntley Net Profits Interest.

 

Sincerely,

 

	
  /s/ Michael W. Reschke

  
	
   

  
	
  Michael W. Reschke

  
	
  Chairman

  
	
   

  
	
  Accepted and Agreed to this 11th day of June, 2003.

  
	
   

  
	
  /s/ Gary J. Skoien

  	
   

  
	
  Gary J. Skoien

  

 

 

Net Profits Agreement

 

As provided in that certain letter agreement, dated
October 29, 2001 (the “10/29/01 Letter”) Gary J. Skoien, between (“Skoien”)
and The Prime Group, Inc. (“PGI”), Skoien was granted an interest (the “GJS
Huntley Net Profits Interest”) in the net proceeds generated by Huntley
Development Limited Partnership (“HDLP”) and Huntley Meadows Residential
Venture (“HMRV”; HDLP and HMRV are sometimes referred to herein,
together, as the “Partnerships”) upon and subject to the terms and
conditions set forth in the 10/29/01 Letter. 
PGI and Skoien have agreed to clarify the provisions set forth in the
10/29/01 Letter concerning the GJS Huntley Net Profits Interest so that the GJS
Huntley Net Profits Interest is determined as follows:

 

(a)           The
GJS Huntley Net Profits Interest shall consist of a participation in the Net
Cash Flow (as defined below) distributed to the equity partners in the
Partnerships (the “Equity Partners”) equal to nine and six hundred
seventy five one thousandths percent (9.675%) of the cash distributed to the
Equity Partners from either of the Partnerships (excluding distributions  paid to the Equity Partners in the aggregate
amount of all Approved Contributions (as hereinafter defined) contributed or
advanced by any Equity Partner to either of the Partnerships after June 13, 2003,
plus a return on such amount calculated at the greater of (A) the Prime Rate of
Interest (as hereinafter defined) plus 1% or (B) eight percent (8%) per annum,
compounded annually, from the date such amount is contributed or advanced, as
the case may be, until such amount is repaid).

 

(b)           For
purpose hereof, the term “Prime Rate of Interest” shall mean the annual
rate of interest as indicated on the Bloomberg web site
(http://www.bloomberg.com/markets/rates/index.html) under the heading “Prime
Rate”.  Such rate shall be adjusted
quarterly on the first day of each calendar quarter.

 

(c)           The Partnerships shall distribute any
amounts due in respect to the GJS Huntley Net Profits Interest on a semi-annual
basis.

 

(d)           No
portion of the real property owned by either Partnership (the “Real Property”),
the Tax Increment Alternative Revenue Bonds (Huntley Redevelopment Project),
Series C-1995 (the “Series C TIF Bonds”), owned by HDLP or other assets
or interests of either Partnership shall be sold, assigned, conveyed or
otherwise transferred to any person or entity affiliated directly or indirectly
with any Equity Partner unless the Partnership receives at the time of such
sale, assignment, conveyance or other transfer an amount in cash equal to the
fair market value of such property.

 

(e)           The Equity Partners shall not cause
or permit either Partnership to pay any fees or expenses (including any
management, consulting, service, advisory, brokerage or other fee) to any
Person affiliated directly or indirectly with any Equity Partner except for all
costs of

 

 

employees, including bonus, commissions and benefits
and other allocable costs, which shall be charged to the Partnerships in a
manner consistent with past practices.

 

(f)            If either Partnership or any Equity
Partner grants any further profit, participation or other similar interest in
the profits or cash flows of either Partnership, then for purposes of
calculating the GJS Huntley Net Profits Interest, the 9.675% interest in the
cash distributed by either Partnership to the Equity Partners shall in all
events be calculated prior to factoring in (i.e., prior to giving effect to) any
payments or distributions to be made by either Partnership or any Equity
Partner pursuant to such further granted profit, participation or other similar
interest; provided, that Net Cash Flow shall not include proceeds
received by either Partnership or any Equity Partner for any further profit,
participation or other similar interest in the profits or cash flows of either
Partnership.

 

 (g)          For purposes hereof, the term “Net Cash Flow” means,
with respect to either Partnership, the excess, if any, as of such date, (i) of
the gross cash receipts generated by such Partnership from and after June 13,
2003, from all sources whatsoever, including, without limitation, the
following:

 

(A)          all rents, revenues, income and
proceeds derived by such Partnership from its operations, including, without
limitation, distributions received by such Partnership from any entity in which
such Partnership has an interest; (B) all proceeds and revenues received by
such Partnership on account of any sales of property of such Partnership or as
a refinancing of or payments of principal, interest, costs, fees, penalties or
otherwise on account of any borrowings or loans made by such Partnership or
financings or refinancings of any property of such Partnership or the sale of
any of the Series C TIF Bonds or sale of any tax increment financing bonds
hereafter issued with respect to any of the Real Property; (C) the amount of
any insurance proceeds and condemnation awards received by such Partnership;
(D) any reduction in the cash amounts previously reserved by the Partnership
and described in subsection (ii)(E) below, if the Equity Partners
determine that such amounts are no longer needed; (E) the return of cash
collateral pledged with respect to the Tax Increment Allocation Revenue Bonds
(Huntley Redevelopment Project) Series B-1995 (“Series B TIF Bonds”) or
the Series C TIF Bonds; and (F) the proceeds of liquidation of such
Partnership’s property,

 

over (ii) the sum of:

 

(A) all operating
costs and expenses of such Partnership and capital expenditures paid (without
deduction, however, for any capital expenditures, charges for depreciation or
other expenses not paid in cash or expenditures from reserves described in
clause (E) below); (B) to the extent not included in any other clause of this subparagraph
(ii), all costs and expenses expended or paid during such period in
connection with the sale or other disposition, or financing or refinancing, of
property of such Partnership or the recovery of insurance or condemnation
proceeds; (C) to the extent not included in any other clause of this subparagraph
(ii), all debt service, including principal and interest, paid on all
indebtedness of such Partnership, including any payments made or cash
collateral pledged pursuant to the terms of any loan made by Beal Bank, S.S.B.
to either

 

 

one or both of the Partnerships, the Series B TIF Bonds and the Series
C TIF Bonds; (D) all capital contributions, advances, reimbursements or similar
payments made to any entity in which such Partnership has an interest; (E) any
increases in mandatory reserves necessary for debt service or other purposes
for such Partnership or any entity in which such Partnership has an interest;
and (F) any payments made pursuant to the terms of the interest held by Beal
Bank, S.S.B. in the Partnerships or in the net profits of the Partnerships.

 

(h)           For
purposes hereof, the terms “Approved Contributions” means any capital
contributions made by any Equity Partner to the Partnerships that are used to
make or maintain improvements to the Real Property or for any other good faith
business purpose directly related to or for the benefit of the Real Property or
other assets of either Partnership.

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