Document:

Amend #5 to the 1996 Share Incentive Plan

 EXHIBIT 10.6 
  
 AMENDMENT No. 5 TO 
 THE PRENTISS PROPERTIES TRUST 
 1996 SHARE INCENTIVE PLAN 
  
 As of October 23, 2002 
  
 This Amendment by Prentiss Properties Trust to the Prentiss Properties Trust 1996 Share Incentive Plan (the “Plan”), made
pursuant to the right to amend reserved in Article XV of the Plan, amends and modifies the Plan as follows: 
  

	 	1.
	 
	The following shall be added to the end of Article III: 
 

  
 “Notwithstanding the above or anything in this Plan to the contrary, except as provided in Article XII, the Administrator shall not have the power to
adjust the price per share of Shares purchased on the exercise of an Option, or the Initial Value of a SAR, without the consent of the Company’s shareholders.” 
  

	 	2.
	 
	The final sentence of Section 8.02 shall be deleted in its entirety and replaced with the following: 
 

  
 “If Shares are used to pay all or part of the Option price, any Shares surrendered (a) must have an aggregate Fair
Market Value (determined as of the day preceding the date of exercise) that, together with any cash or cash equivalent paid, is not less than the Option price for the number of Shares for which the Option is being exercised and (b) must have been
held by the Participant for at least six (6) months prior to exercise (or such longer or shorter period as may be required to avoid a charge to earnings for financial accounting purposes).” 
  

	 	3.
	 
	In all other respects, the Plan shall remain unchanged and in full force and effect. 
 

  

IN WITNESS WHEREOF, the foregoing Amendment is hereby duly executed by the corporate officer signing below on October 23, 2002. 
  
 PRENTISS PROPERTIES TRUST 
  
  
 /s/  Thomas F.
August                         
 By:  Thomas F. August 
 Its:   President and CEOAmend #1 to the Amended and Restated Incentive Pl

 EXHIBIT 10.8 
  
 AMENDMENT NO. 1 TO 
 THE AMENDED AND RESTATED PRENTISS PROPERTIES TRUST 
 TRUSTEES’ SHARE INCENTIVE PLAN 
  
 As of October 23, 2002

  
 This Amendment by Prentiss Properties Trust to the Amended and Restated Prentiss Properties Trust
Trustees’ Share Incentive Plan (the “Plan”), made pursuant to the right to amend reserved in Article X of the Plan, amends and modifies the Plan as follows: 
  

	 	1.
	 
	The following shall be added to the end of Article X: 
 

  
 “Notwithstanding the above or anything in this Plan to the contrary, except as provided in Section 2.02, the Administrator shall not have the power to adjust the price per Share of Shares
purchased on the exercise of an Option without the consent of the Company’s shareholders.” 
  

	 	2.
	 
	In all other respects, the Plan shall remain unchanged and in full force and effect. 
 

  

IN WITNESS WHEREOF, the foregoing Amendment is hereby duly executed by the corporate officer signing below on October 23, 2002. 
  
 PRENTISS PROPERTIES TRUST 
  
  
 /s/  Thomas F.
August                         
 By:  Thomas F. August 
 Its:  President and CEOAmend #1 To the PPT Share Purchase Plan

 EXHIBIT 10.15 
  
 AMENDMENT NO. 1 TO 
 THE PRENTISS PROPERTIES TRUST 
 SHARE PURCHASE PLAN 
  
 As of October 23, 2002 
  
 This Amendment by Prentiss Properties Trust to the Prentiss Properties Trust Share Purchase Plan (the “Plan”), made
pursuant to the right to amend reserved in Article XIII of the Plan, amends and modifies the Plan as follows: 
  

	 	1.
	 
	The following shall be added to the end of Article III: 
 

  
 “Notwithstanding the above or anything in this Plan to the contrary, except as provided in Article X, the Administrator shall not have the power to adjust the price
per share for Common Shares purchased on the exercise of an Option without the consent of the Company’s shareholders.” 
  

	 	2.
	 
	In all other respects, the Plan shall remain unchanged and in full force and effect. 
 

  

IN WITNESS WHEREOF, the foregoing Amendment is hereby duly executed by the corporate officer signing below on October 23, 2002. 
  
 PRENTISS PROPERTIES TRUST 
  
  
 /s/  Thomas F.
August                                 
 By:  Thomas F. August 
 Its:  President and CEOVehicle Purchase Agree.

  
 Exhibit 10.16 
  
 Vehicle Purchase Agreement 
  
 This purchase agreement dated July 29,
2002 between Mirenco, Inc., P.O. Box 343, Radcliffe, Iowa 50230, (purchaser), and Fosseen Manufacturing Co., Inc., P.O. Box 347, Radcliffe, IA 50230, (seller), for the purpose of transferring ownership of the four vehicles described below from the
seller to the purchaser is subject to the following terms and conditions: 
  
 Description of vehicles (all pickups): 

 
 
	 Description
 
	  	 VIN #
 
	  	 Fair Market Value as of July 29, 2002
 
	  	 Amount owed By seller to Randall-Story State Bank
 
	  	 Difference Due Seller
 

	 1990 Ford F350 Dually
 	  	 1FTJX35G5LKA91783
 	  	 $
 	 4,900.00
 	  	 $
 	 0.00
 	  	 $
 	 4,900.00
 
	 1994 Ford F150
 	  	 1FTEF15N8RLB11602
 	  	  
 	 5,000.00
 	  	  
 	 0.00
 	  	  
 	 5,000.00
 
	 2000 Ford Ranger
 	  	 1FTYR14X3YPA00311
 	  	  
 	 12,925.00
 	  	  
 	 8,161.14
 	  	  
 	 4,763.86
 
	 2000 Ford F250
 	  	 1FTNF20S5YEB30050
 	  	  
 	 17,175.00
 	  	  
 	 11,223.61
 	  	  
 	 5,951.39
 
	  	  	  	  	 
	 
	  	 
	 
	  	 
	 

	  	  	 Totals
 	  	 $
 	 40,000.00
 	  	 $
 	 19,384.75
 	  	 $
 	 20,615.25
 
	  	  	  	  	 
	 
	  	 
	 
	  	 
	 

 
  

	1.
	 
	Purchaser agrees to pay Randall-Story State Bank the sum of $19,384.76 in full payment of existing notes held in the name of the seller by Randall-Story State
Bank relative to vehicles described above. In addition, purchaser agrees to pay seller the total sum of $20,615.25 representing the difference between the July 29, 2002 fair market value of the four vehicles and the amount purchaser agrees to pay
Randall-Story State Bank as outlined in the previous paragraph. Payment of said sum shall be made by the purchaser to the seller in 26 monthly installments of $861.52 each beginning August 4, 2002 and ending July 4, 2004. Such payments will include
interest on the unpaid balance equal to 8.00% annually, computed on a 365-day year. Early payment of the unpaid balance plus interest to date owed to seller, although not required, may be made at anytime without penalty during the term of this
agreement at the discretion of the purchaser. 
 

	2.
	 
	Seller agrees to deliver to purchaser titles to vehicles described above. Although not required to do so, seller may retain security interests not to exceed the
amounts listed above under “Difference Due Seller”. 
 

	3.
	 
	Payments not received by seller by the 30th of the month shall be assessed a finance fee of 1.5 percent per month on the unpaid balance. This agreement shall be in default if the purchaser fails to make a scheduled payment within 90 days of its due date. Upon
default, seller shall deliver written notice to purchaser of intent to repossess. Within 15 days of receipt of the written intent to repossess, purchaser shall forfeit all claims to said vehicles and physically deliver titles thereto to seller.

 

	4.
	 
	This agreement is non-transferrable. 
 

  
 We the undersigned agree to the terms of this agreement dated this 29th day of July,
2002. 
  
 Signed:     /s/  Dwayne Fosseen 
 Mirenco, Inc. (purchaser) 
 Dwayne Fosseen,
CEO 
  
 Signed:     /s/  Dwayne Fosseen 
 Fosseen Manufacturing Co., Inc. (seller) 
 Dwayne Fosseen, CEOBank Note Randall-Story Bank

  
 EXHIBIT 10.17 
  
 Bank Note 
  
 
	 BORROWER’S NAME AND ADDRESS
 	  	 LENDER’S NAME AND ADDRESS
 	  	 Loan Number 6068650
 
	 Mirenco, Inc.
 P.O. Box 343
 Radcliffe, IA 50230-0343
 	  	 Randall-Story State Bank
 606 Broad Street
 Story City, IA 50248
 	  	 Date 07/29/2002
 Maturity Date 09/04/2004
 Loan Amount $19,384.76
 
	 “I” includes each borrower above, jointly and severally.
 	  	 “You” means the lender, its successors and assigns.
 	  	  

 
  
 Single Advance:  For value received, I promist to pay to you, or your
order, at your address listed above the PRINCIPAL sum of NINETEEN THOUSAND THREE HUNDRED EIGHTY FOUR AND 76/100 Dollars $19,384.76. I will receive all of this principal sum on 07/29/2002. No additional advances are
contemplated under this note. 
  
 INTEREST:  I agree to pay interest on the outstanding principal balance from
07/29/2002 at the rate of 8.900% per year until 09/04/2004. 
  
 ACCRUAL METHOD:  Interest will be
calculated on a 365/365 basis. 
  
 POST MATURITY RATE:  I agree to pay interest on the unpaid balance of this note
owing after maturity, and until paid in full, at a rate equal to 10.90. 
  
 PAYMENTS:  I agree to pay this note in
26 payments. The first payment will be in the amount of $817.54 and will be due 08/04/2002. A payment of $817.54 will be due monthly thereafter. The final payment of the entire unpaid balance of principal and
interest will be due 09/04/2004. Any accrued interest not paid when due (whether due by reason of a schedule of payments or due because of Lender’s demand) will become part of the principal thereafter, and will bear interest at the
interest rate in effect from time to time as provided for in this agreement. 
  
 ADDITIONAL TERMS:  This note is a credit
agreement subject to Iowa Code 535.17 and the following notice is applicable to this note: 
  
 IMPORTANT: READ
BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THESE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF
THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. 
  
 SECURITY:  This note is separately secured by 2000 FORD TRUCK
VIN#1FTNF20S5YEB30050 & 2000 FORD TRUCK VIN#1FTYR14X3YPA00311. 
  
 PURPOSE:  The purpose of this loan is
REFINANCE 2 PICKUPS FROM FOSSEEN MFG 
  
 SIGNATURES:  I AGREE TO THE TERMS OF THIS NOTE. I have received a
copy on today’s date. 
  
 /s/  Dwayne Fosseen 
 DWAYNE FOSSEEN, President 
  
 Signature for Lender 
 /s/ Harold E. Thompson 
 HAROLD E. THOMPSON

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