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                                                                   EXHIBIT 10.29

                            SPECIAL EQUITY AGREEMENT

         This Special Equity Agreement (this "Agreement"), is made this 5th day
of March, 2003 (the "Effective Date"), by and between ProLogis and Irving F.
Lyons, III (the "Executive");

                                   WITNESSETH:

         WHEREAS, the Executive is currently employed by ProLogis in an
executive capacity; and

         WHEREAS, the Management Development and Compensation Committee (the
"Committee") of the Board of Trustees (the "Board") of ProLogis has the
authority to determine compensation of ProLogis' executives; and

         WHEREAS, the Committee has determined that, to ensure that the
Executive receives a competitive compensation package, to maintain continuity in
the management of ProLogis' affairs, and to protect ProLogis' valuable business
interests, it is appropriate to enter into this Agreement on the terms herein
provided;

         NOW, THEREFORE, in consideration of the mutual promises set forth
herein, ProLogis and the Executive hereby agree as follows:

         1. Continued Employment. The parties agree that the Executive will
continue in employment with ProLogis through December 31, 2004; provided,
however, that (a) ProLogis reserves its right to terminate the employment of the
Executive to the same extent that it had such right without regard to this
Agreement, and (b) the Executive reserves his right to terminate employment with
ProLogis to the same extent that he had such right without regard to this
Agreement.

         2. Extension of Option Expiration. ProLogis hereby agrees that:

         (a)      each stock option which has been granted to the Executive
                  under the ProLogis 1997 Long-Term Incentive Plan (the
                  "Incentive Plan") and which is outstanding on the Effective
                  Date (each an "Existing Option") shall be amended, effective
                  as of the Effective Date, to provide that the Expiration Date
                  (as defined in the Incentive Plan) thereof shall be no earlier
                  than the fifth anniversary of the first to occur of the
                  Executive's Retirement (as defined in the Incentive Plan),
                  Disability (as defined in the Incentive Plan) or death, but in
                  no event later than the tenth anniversary of the date the
                  Existing Option was granted; and

         (b)      each stock option which is granted to the Executive under the
                  Incentive Plan on or after the Effective Date shall provide
                  that the Expiration Date thereof shall be no

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                  earlier than the fifth anniversary of the first to occur of
                  the Executive's Retirement, Disability or death, but in no
                  event later than the tenth anniversary of the date the option
                  is granted.

Notwithstanding the provisions of paragraphs 2 (a) and (b) next above, dividend
equivalent units ("DEUs") with respect to options granted to the Executive
(including Existing Options) will continue to be credited after the Executive's
Retirement, Disability or death until the fifth anniversary of the Executive's
Retirement, Disability or death. For purposes of applying the foregoing and for
applying the provisions of the Incentive Plan to the options granted to the
Executive thereunder (including the Existing Options), the Executive shall be
treated as though he has attained age 60 as of December 31, 2004 without regard
to whether he has actually attained age 60 as of that date. The provisions of
any option granted to the Executive under the Incentive Plan (including any
Existing Option) relating to terminations other than on account of Retirement,
Disability or death shall not be affected by the provisions of this Agreement or
any amendment to any Existing Option, except as specifically provided in the
immediately preceding sentence.

         3. Noncompetition. In consideration for the additional payments and
benefits awarded to the Executive pursuant to this Agreement, the Executive
hereby agrees as follows:

         (a)      while he is employed by ProLogis, he shall not, directly or
                  indirectly, be employed by, serve as a consultant to, or
                  otherwise assist or provide services to a Competitor (defined
                  below), except to the extent expressly agreed by ProLogis;

         (b)      during the Noncompetition Period (as defined below), he shall
                  not, directly or indirectly, (i) serve on the board of
                  directors or trustees of or serve as an officer or employee of
                  any real estate investment trust with a class of securities
                  registered under Section 12(b) or 12(g) of the Securities
                  Exchange Act of 1934, as amended, or (ii) be employed by,
                  serve as a consultant to, or otherwise assist or provide
                  services to a Competitor if: (A) the services that the
                  Executive is to provide to the Competitor are the same as, or
                  substantially similar to, any of the services that the
                  Executive provided to ProLogis and its affiliates, and such
                  services are to be provided with respect to any location in
                  which ProLogis or any of its affiliates had material
                  operations during the 24-month period prior to the Termination
                  Date, or with respect to any location in which ProLogis or any
                  of its affiliates had devoted material resources to
                  establishing operations during the 24-month period prior to
                  the Termination Date; or (B) the trade secrets, confidential
                  information, or proprietary information (including, without
                  limitation, confidential or proprietary methods) of ProLogis
                  and its affiliates to which the Executive had access could
                  reasonably be expected to benefit the Competitor if the
                  Competitor were to obtain access to such secrets or
                  information;

         (c)      while he is employed by ProLogis and during the Noncompetition
                  Period, he shall not, directly or indirectly own an equity,
                  partnership or profits interest in any Competitor (other than
                  ownership of 5% or less of the outstanding stock of any
                  corporation listed on the New York Stock

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                  Exchange or the American Stock Exchange or included in the
                  NASDAQ System), except to the extent expressly agreed by
                  ProLogis.

Nothing in this Section 3 or Section 4 shall be construed as limiting the
Executive's duty of loyalty to ProLogis while he is employed by ProLogis, or any
other duty he may otherwise have to ProLogis while he is employed by ProLogis.
For purposes of this Agreement the following capitalized terms shall have the
meanings indicated:

         (A)      The term "Competitor" means any enterprise (including a
                  person, firm or business, whether or not incorporated) during
                  any period in which it is materially competitive in any way
                  with any business in which ProLogis was engaged during the
                  period of the Executive's employment with ProLogis during the
                  24-month period prior to the Executive's Termination Date. For
                  the avoidance of doubt, King and Lyons, L.P. ("King & Lyons")
                  shall not be deemed a Competitor with respect to the Phase II
                  Bayside Business Park Land in Fremont, California and
                  Patterson Pass Business Park Land in Tracy, California
                  currently owned by King & Lyons.

         (B)      The term "Noncompetition Period" means the period commencing
                  on the Executive's Termination Date and ending on the fifth
                  anniversary of his Termination Date.

         (C)      The term "Termination Date" means the date on which the
                  Executive's employment with ProLogis terminates for any
                  reason.

         4. Confidentiality. The Executive agrees that, while he is employed by
ProLogis and so long as he shall live thereafter, he agrees to keep confidential
all, and not to disclose any, data, knowledge or information with respect to the
conduct and details of business of ProLogis and its affiliates, including trade
secrets, and the formulas, methods, processes, ideas, improvements, machines,
tools, inventions and discoveries related in any way to the business of ProLogis
and its affiliates, which are shown, communicated or otherwise made known to
Executive during his employment with ProLogis or otherwise; provided, however,
that the foregoing confidentiality obligations of the Executive shall not be
applicable to any such data, knowledge or information which is (i) available to
the general public or industry other than as a result of a breach of this
Agreement, or (ii) known to the Executive prior to its disclosure to him by
ProLogis or its affiliates.

         5. Equitable Remedies. The Executive acknowledges that ProLogis would
be irreparably injured by a violation of Section 3 or Section 4 of this
Agreement, and he agrees that ProLogis, in addition to any other remedies
available to it for such breach or threatened breach, shall be entitled to a
preliminary injunction, temporary restraining order, or other equivalent relief,
restraining the Executive from any actual or threatened breach of Section 3 or
Section 4.

         6. Severability. The invalidity or unenforceability of any provision of
this Agreement will not affect the validity or enforceability of any other
provision of this Agreement, and this Agreement will be construed as if such
invalid or unenforceable provision were omitted (but only to the extent that
such provision cannot be appropriately reformed or modified).

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         7. Effect of Death Following Retirement. The provisions of this
Agreement shall continue to apply for periods after the Executive's death
following Retirement.

         8. Applicable Law. The provisions of this Agreement shall be construed
in accordance with the laws of the State of Colorado, without regard to the
conflict of law provisions of any state.

         9. Amendment. This Agreement may be amended by the mutual agreement of
the parties; provided, however, that any such amendment which would affect any
outstanding award under the Incentive Plan shall be without effect unless the
Committee consents thereto and any amendment which requires an amendment of the
Incentive Plan shall be without effect unless the Board consents thereto.

         10. Conditioned on Approval of the Committee and Board. This Agreement
shall be without force and effect until it is approved by the Committee and the
Board.

         IN WITNESS WHEREOF, the Executive has hereunto set his hand and
ProLogis has caused these presents to be executed in its name and on its behalf,
all as of the day and year first above written.

                                           /s/ Irving F. Lyons, III
                                           ------------------------------------
                                           Irving F. Lyons, III, Executive

                                           PROLOGIS

                                           By: /s/ Edward S. Nekritz
                                               --------------------------------
                                               Edward S. Nekritz
                                               Secretary and General Counsel

Acknowledged and Agreed:

By: /s/ Donald P. Jacobs
   -------------------------------
   Donald P. Jacobs
   Chairman
   Management Development & Compensation
   Committee

                                       4<PAGE>
                                                                    EXHIBIT 10.7

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT ("Agreement") dated July 28, 2000 is entered
into by and between Mel Robinson ("Executive") and Hotel Reservation Network,
Inc., a Delaware corporation (the "Company").

         WHEREAS, the Company desires to establish its right to the services of
Executive, in the capacity described below, on the terms and conditions
hereinafter set forth, and Executive is willing to accept such employment on
such terms and conditions.

         NOW THEREFORE, in consideration of the mutual agreements hereinafter
set forth, Executive and the Company have agreed and do hereby agree as follows:

1A. EMPLOYMENT. The Company agrees to employ Executive as Chief Financial and
Strategic Officer and Executive accepts and agrees to such employment. During
Executive's employment with the Company, Executive shall do and perform all
services and acts necessary or advisable to fulfill the duties and
responsibilities as are commensurate and consistent with Executive's position
and shall render such services on the terms set forth herein. During Executive's
employment with the Company, Executive shall report directly to the Chief
Executive Officer (hereinafter referred to as the "Reporting Officer").
Executive shall have such powers and duties with respect to the Company as may
reasonably be assigned to Executive by the Chief Executive Officer, to the
extent consistent with Executive's position and status. Executive agrees to
devote all of Executive's working time, attention and efforts to the Company and
to perform the duties of Executive's position in accordance with the Company's
policies as in effect from time to time. Executive's principal place of
employment shall be the Company's offices located in Dallas, Texas.

2A. TERM OF AGREEMENT. The term ("Term") of this Agreement shall commence on
September 1, 2000 and shall continue for a period of one (1) year and shall be
automatically and repeatedly renewed for successive one (1) year periods
thereafter, unless (i) sooner terminated in accordance with the provisions of
Section 1 of the Standard Terms and Conditions attached hereto; or (ii) either
party delivers written notice of non-renewal to the other prior to the last 60
days of any such annual period.

3A. COMPENSATION.

         (a) BASE SALARY. During the Term, the Company shall pay Executive an
annual base salary of $180,000 (the "Base Salary"), payable in equal biweekly
installments or in accordance with the Company's payroll practice as in effect
from time to time. For all purposes under this Agreement, the term "Base Salary"
shall refer to Base Salary as in effect from time to time.

         (b) DISCRETIONARY BONUS. During the Term, Executive shall be eligible
to receive discretionary bonuses on the same basis as others reporting to the
Chief Executive Officer and persons otherwise regarded as senior management. Any
bonus may be payable in cash, Common Stock (as defined below) or any combination
of the two.

         (c) STOCK OPTIONS. In consideration of Executive's entering into this
Agreement and as an inducement to join the Company, Executive shall be granted,
under the Company's 2000 Stock Plan (the "Plan"), an incentive or non-qualified
stock option (the "Option") to purchase 100,000 shares of the Company's Class A
Common Stock, $.01 par value per share (the "Common Stock"), subject to the
approval of the Compensation Committee of the Board of Directors of the Company.
The date of grant of the Option shall be the later of (x) the Effective Date and
(y) the date on which the grant is approved by such Compensation Committee. The
exercise price of the Option shall equal the last reported sales price of the
Common Stock in the over-the-counter market (or such other market on which the
Common Stock is then traded) on the date preceding the date of grant. Such
Option shall vest and become exercisable over a four (4) year term, with
twenty-five percent (25%) or 25,000 shares of the Option becoming exercisable on
the first anniversary of the Effective Date and an additional 1/36th of the
75,000

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share balance of the Option becoming exercisable on the first day of each month
during the Term. The Option shall expire upon the earlier to occur of (i) ten
years from the date of grant (the "Option Term") or (ii) except as otherwise
provided in the Option award agreement, 90 days following the termination of
Executive's employment with the Company for any reason. Other than acceleration
of the vesting of the Option following a Change in Control, the Option shall not
otherwise become vested and exercisable as a result of the termination or
non-renewal of this Agreement (or the termination of Executive's employment with
the Company) for any reason. In the event of a Change in control (as such is
defined in the Plan), in addition to any options that have already vested, there
also shall be vested, at the time of such Change in Control, 50% of then
unvested options referred to above.

         (d) BENEFITS. From the Effective Date through the date of termination
of Executive's employment with the Company for any reason, Executive shall be
entitled to participate in any welfare, health and life insurance and pension
benefit and incentive programs as may be adopted from time to time by the
Company on the same basis as that provided to similarly situated Executives of
the Company. Without limiting the generality of the foregoing, Executive shall
be entitled to the following benefits:

                  (i) Reimbursement for Business Expenses. During the Term, the
Company shall reimburse Executive for all reasonable and necessary expenses
incurred by Executive in performing Executive's duties for the Company, on the
same basis as similarly situated Executives and in accordance with the Company's
policies as in effect from time to time.

                  (ii) Vacation. During the Term, Executive shall be entitled to
no less than two (2) weeks of paid vacation per year, in accordance with the
plans, policies, programs and practices of the Company applicable to similarly
situated Executives of the Company generally.

                  (iii) Relocation Expenses. The company shall reimburse
Executive for reasonable moving expenses incurred in connection with Executive's
relocation from Delray Beach, Florida to Dallas, Texas. The Company shall
reimburse Executive, to the extent applicable, such additional amounts (the "Tax
Gross-Up") as shall be necessary to make the Executive whole on a net after-tax
basis for all Taxes (as defined herein), if any, required to be paid by the
Executive with respect to all taxable income he receives pursuant to the
provisions of this Section 3A(d)(iii). The term "Taxes" means all federal, state
and local income, employment and capital gains taxes. Notwithstanding the
foregoing, the aggregate amount of reimbursement by the Company pursuant to
Section 3A(d)(iii), before taking into account the Tax Gross-Up, shall not
exceed $40,000.

4A. NOTICES. All notices and other communications under this Agreement shall be
in writing and shall be given by first-class mail, certified or registered with
return receipt requested or hand delivery acknowledged in writing by the
recipient personally, and shall be deemed to have been duly given three days
after mailing or immediately upon duly acknowledged hand delivery to the
respective persons named below:

         If to the Company:         Hotel Reservations Network, Inc.
                                    8140 Walnut Hill Lane
                                    Suite 800
                                    Dallas, TX 75231

                                    Attention:
                                    With copy to:
                                    USA Networks, Inc.
                                    152 West 57th Street
                                    New York, NY  10019
                                    Attention:  General Counsel

         If to the Executive:       Mel Robinson
                                    4814 Orchard Lane
                                    Delray Beach, Florida  33445

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Either party may change such party's address for notices by notice duly given
pursuant thereto.

5A. GOVERNING LAW; JURISDICTION. This Agreement and the legal relations thus
created between the parties hereto shall be governed by and construed under and
in accordance with the internal laws of the State of Texas without reference to
the principles of conflicts of laws. Any and all disputes between the parties
which may arise pursuant to this Agreement will be heard and determined before
an appropriate federal court in Texas, or, if not maintainable therein, then in
an appropriate Texas state court. The parties acknowledge that such courts have
jurisdiction to interpret and enforce the provisions of this Agreement, and the
parties consent to, and waive any and all objections that they may have as to,
personal jurisdiction and/or venue in such courts.

6A. COUNTERPARTS. This Agreement may be executed in several counterparts, each
of which shall be deemed to be an original but all of which together will
constitute one and the same instrument. Executive expressly understands and
acknowledges that the Standard Terms and conditions attached hereto are
incorporated herein by reference, deemed a part of this Agreement and are
binding and enforceable provisions of this Agreement. References to "this
Agreement" or use of the term "hereof" shall refer to this Agreement and the
Standard Terms and Conditions attached hereto, taken as a whole.

         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed and delivered by its duly authorized officer and Executive has executed
and delivered this Agreement on July 28, 2000.

                                            HOTEL RESERVATIONS NETWORK, INC.

                                            By: /s/ Robert Diener
                                                -----------------------------
                                            Title:  President

                                            /s/ Mel Robinson
                                            ---------------------------------
                                                    Mel Robinson

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