Document:

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Ex. 4.7
Form of Mortgage Note

                                   Exhibit 4.7
                  Form of Mortgage Note between the Company and
             Allstate Life Insurance Company dated December 14, 2001

The following is the form of the Mortgage Note used in two transactions dated
December 14, 2001 between the Company and Allstate Life Insurance Company. In
the first transaction, Allstate provided a mortgage loan totaling $16,750,000 to
GLR Corporate Center LLC, a subsidiary of the Company, encumbering the Company's
property located at 1600 Golf Road, Rolling Meadows, Illinois. In the second
transaction Allstate provided a mortgage loan totaling $6,250,000 to Great Lakes
REIT, L.P. encumbering the Company's property located at 1920-1930 Thoreau
Drive, Schaumburg, Illinois.

Allstate Life Insurance Company
Loan No.________

MORTGAGE NOTE

$                                               December 14, 2001

1.    PAYMENT OF PRINCIPAL AND INTEREST FOR VALUE RECEIVED, GLR - 1600 CORPORATE
CENTER, LLC, a Delaware limited liability company ("Maker") hereby promises to
pay to the order of ALLSTATE LIFE INSURANCE COMPANY, and any subsequent holder
of this Note ("Holder" or "Holders") in the manner hereinafter provided, the
principal amount of SIXTEEN MILLION SEVEN HUNDRED FIFTY THOUSAND DOLLARS
($16,750,000) together with interest on the outstanding principal balance from
the date of the initial disbursement (for purposes of this Note, "disbursement"
means the date funds are wire transferred from Holder's account) of all or a
part of the principal of this Note ("Disbursement Date") until maturity at the
rate of six and sixtyfive one hundredths percent (6.65%) per annum ("Contract
Rate") as follows:

      (a)  on the Disbursement Date, interest only, in advance, accruing from
the Disbursement Date to the last day of December, 2001, both inclusive; and

      (b)  in arrears, on the first day of February, 2002 and on the first day
of each month thereafter until this Note matures, principal and interest in
consecutive equal installments of ONE HUNDRED TWENTY SIX THOUSAND THREE HUNDRED
SIXTY SEVEN AND 07/100 DOLLARS ($126,367.07) (the initial payment and each
subsequent payment shall each hereinafter be referred to as "Monthly Payment"),
which amount is calculated using an amortization period of two hundred forty
(240) months; and

      (c)  on January 1, 2007, the entire unpaid principal amount and any
interest accrued but remaining unpaid and all other sums due under this Note.

Except for the interest payable under paragraph (a) above, interest shall be
payable in arrears and calculated on the basis of a 360 day year containing
twelve 30 day months. All such payments on account of the indebtedness evidenced
by this Note shall be first applied to interest accrued on the unpaid principal
amount and the remainder toward reduction of the unpaid principal amount.

2.    PAYMENT INFORMATION All payments required to be made hereunder shall be
made during regular business hours to Holder at its office c/o Commercial
Mortgage Division, Allstate Plaza South, Suite G5C, 3075 Sanders Road,
Northbrook, Illinois 60062, Attention: Servicing Manager, with sufficient
information to identify the source and application of such payment to Holder's
Loan #122081, or at such other place as Holder may from time to time designate
in writing. All payments shall be made in currency of the United States of
America without presentment or surrender of this Note. Payments to Holder shall
be made by transferring immediately available federal funds by

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bank wire or interbank transfer for the account of Holder. Any payment of
principal or interest received after 1:00 p.m., Chicago time, shall be deemed to
have been received by Holder on the next business day and shall bear interest
accordingly. If and so long as Holder directs Maker to make payments to a
servicing agent, then payments may be made by check. Payments made by check will
not be deemed made until good funds for such check are received by Holder or the
servicing agent.

3.    SECURITY FOR NOTE The payment of this Note and all other sums due Holder
is secured by a Mortgage, Assignment of Leases, Rents and Contracts, Security
Agreement and Fixture Filing ("Mortgage"), of even date herewith, granted by
Maker to Holder, as mortgagee, covering certain real property, the improvements
thereon and certain personal property situated in the County of Cook, State of
Illinois and described in the Mortgage ("Property"), and those certain
instruments of indebtedness and security described as "Related Agreements" in
the Mortgage. Except as otherwise defined herein, all of the defined terms
contained in the Mortgage and the Related Agreements are hereby incorporated
herein by express reference.

4.    LATE CHARGES If any Monthly Payment required under this Note is not paid
in full on or before the fifth day of the month in which such payment is due,
Maker acknowledges that the Holder will incur extra expenses for the handling of
the delinquent payment and servicing the indebtedness evidenced hereby, and that
the exact amount of these extra expenses is extremely difficult and impractical
to ascertain, but that a charge of four percent (4%) of the amount of the
delinquent payment ("Late Charge") would be a fair approximation of the expense
so incurred by Holder. If applicable law requires a lesser charge, however, then
the maximum charge permitted by such law may be charged by Holder for said
purpose. Therefore, Maker shall, in such event, without further notice, and
without prejudice to the right of Holder to collect any other amounts provided
to be paid hereunder or under the Mortgage, the Related Agreements or any other
instrument executed for purposes of further securing payment of the obligations
evidenced by this Note, or to declare an Event of Default as defined below, pay
to Holder immediately upon demand the Late Charge to compensate Holder for
expenses incurred in handling delinquent payments.

5.    INTEREST PAYABLE UPON DEFAULT If there occurs an Event of Default, under
this Note or the Mortgage or under any Related Agreement, then the unpaid
principal amount of this Note, and all accrued and unpaid interest thereon shall
bear interest at the Contract Rate plus four percent (4%) per annum compounded
monthly ("Default Rate") from the date of expiration of any applicable cure or
grace period until such time, if any, as the Event of Default is cured and the
Mortgage and this Note are reinstated as permitted by applicable law, or
otherwise until such time as the unpaid principal amount of this Note and all
other indebtedness evidenced by this Note are fully repaid, whichever is
earlier.

6.    EVENTS OF DEFAULT An "Event of Default" shall exist under this Note:

      (a)  in the event Maker shall fail to make any payment due under this
Note, other than the final payment and Prepayment Premium, on or before the
sixth day of the month in which such payment is due;

      (b)  in the event Maker shall fail to make the final payment or the
Prepayment Premium when such payment is due; or,

      (c)  if there shall exist an Event of Default under the Mortgage or any of
the Related Agreements.

7.    ADDITIONAL PAYMENTS The additional payments called for under Paragraphs 4
and 5 shall be in addition to, and shall in no way limit, any other rights and
remedies provided for in this Note, the Mortgage, any Related Agreements, or
otherwise provided by law.

8.    PAYMENT OF TAXES AND EXPENSES

      (a)  Maker further promises to pay to Holder, immediately upon written
notice from Holder: (i) all recordation, transfer, stamp, documentary or other
fees or taxes levied on Holder (exclusive of Holder's income taxes) by reason of
the making or recording of this Note, the Mortgage or any of the Related
Agreements, and (ii) all intangible property taxes levied upon any Holder of
this Note or mortgagee under the Mortgage or secured party under the Related
Agreements.

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      (b)  Maker further promises to pay to Holder, immediately upon written
notice from Holder, all actual costs, expenses, disbursements, escrow fees,
title charges and reasonable legal fees and expenses incurred by Holder and its
counsel in connection with: (i) the collection, attempted collection, or
negotiation and documentation of any settlement or workout of any payment due
hereunder, and (ii) any suit or proceeding whatsoever in regard to this Note or
the protection or enforcement of the lien of any instrument securing this Note,
including, without limitation, in any bankruptcy proceeding or judicial or
nonjudicial foreclosure proceeding. It is the intent of the parties that Maker
pay all expenses and reasonable attorneys' fees incurred by Holder as a result
of Holder's entering into the loan transaction evidenced by this Note.

9.    PREPAYMENT Maker is prohibited from prepaying this Note until January 1,
2003 (the "No-Prepayment Period"). Subsequent to the No-Prepayment Period, at
any time with not less than thirty (30) days prior written notice to Holder,
specifying the date of prepayment, Maker will have the privilege of prepaying
the outstanding principal amount together with any accrued but unpaid interest,
any other sums secured by the Mortgage and the Related Agreements, and a
prepayment premium ("Prepayment Premium") equal to the greater of:

      (a)  1% of the principal amount prepaid, or

      (b)  the yield maintenance payment calculated as follows:

           If the Prevailing Interest Rate is less than the Contract Rate, the
           yield maintenance payment shall be the remainder of (x) minus (y)
           where "(x)" is the present value of all unpaid installments of
           principal and interest due under this Note from the date of
           prepayment to and including the original maturity date of this Note,
           discounted at the Prevailing Interest Rate, and "(y)" is the
           outstanding principal balance of this Note as of the prepayment date.
           The term "Prevailing Interest Rate" as used herein shall mean the
           yield to maturity on a United States Treasury Bond or Treasury Note
           selected by Holder having a maturity date as near as possible to the
           original maturity date of this Note and an "ask" price, as close as
           possible to par (as published two weeks prior to the specified date
           of prepayment in THE WALL STREET JOURNAL or similar publication or
           available from the Federal Reserve Bank of New York), less the Basis
           Point Adjustment as computed in accordance with EXHIBIT A attached
           hereto to convert the monthly payments to a semi-annual equivalent.

      No Prepayment Premium shall be due on the principal balance prepaid within
the thirty (30) day period prior to the original maturity date of this Note.
Written notice of Maker's election to make a prepayment in full of this Note
shall be given in the manner provided for notices under the Mortgage. Partial
prepayment of the outstanding principal amount of this Note shall not be
permitted except in accordance with the terms of the Mortgage. In the event of
such a permitted partial prepayment, the Prepayment Premium calculated in this
paragraph 9 shall be prorated based on the amount of the partial prepayment
relative to the then current outstanding principal balance of this Note.

      Maker acknowledges that Holder:

      (a)  has advanced the amounts evidenced by this Note with the expectation
that such amounts would be outstanding for a period at least equal to the
No-Prepayment Period;

      (b)  would not have been willing to advance such amounts on these terms
for a shorter period of time;

      (c)  in making the loan evidenced by this Note, is relying on Maker's
creditworthiness and its agreement to pay in strict accordance with the terms
set forth in the Note; and

      (d)  would not make the loan without full and complete assurance by Maker
of its agreement not to prepay all or a part of the principal of this Note
except as expressly permitted herein and in the Mortgage. Maker has been advised
and acknowledges that Holder is relying on the receipt of payments under this
Note to, among other things, match and support its obligations under contracts
entered into by Holder with third parties and that in the event of a prepayment,
Holder could suffer loss and additional expenses which are extremely difficult
and

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impractical to ascertain. Accordingly, it is the express intent of Maker and
Holder that (i) Maker shall have no right to prepay this Note during the
No-Prepayment Period, (ii) any prepayment of this Note during the No-Prepayment
Period shall only occur in the event Holder accelerates payment under this Note
or as otherwise set forth in the Mortgage, (iii) any prepayment described in the
foregoing clause (ii) shall (unless otherwise expressly permitted in the
Mortgage) require the payment of a Prepayment Premium calculated as provided for
hereinabove; and (iv) to the extent permitted by applicable law, Maker has
waived, and hereby waives, any right to prepay this Note except as expressly
provided in the Mortgage or this Note. In the event, notwithstanding the
foregoing express intent of Maker and Holder and the express waiver by Maker of
any right to prepay this Note, that the applicable law of the jurisdiction in
which the Property is located permits the Maker to prepay this Note during the
No-Prepayment Period, then the Prepayment Premium described in clause (iii)
above shall be paid to Holder as a condition to any such prepayment.

      Maker expressly acknowledges that, pursuant to the provisions of this Note
and except as otherwise provided in this Note or the Mortgage, Maker has no
right to prepay this Note in whole or in part. In the event any prepayment is
required or expressly permitted, Maker shall be liable for the payment of the
Prepayment Premium unless expressly stated otherwise in the Mortgage.
Furthermore, Maker waives any rights it may have under any applicable state laws
as they relate to any prepayment restrictions contained in this paragraph 9 or
otherwise contained in this Note and expressly acknowledges that Holder has made
the loan in reliance upon such agreements and waiver of Maker and that Holder
would not have made the loan without such agreements and waiver of Maker. Maker
acknowledges that specific weight has been given to the consideration given for
such agreements, which consideration is the granting of the loan.

10.   EVASION OF PREPAYMENT PREMIUM Except as expressly provided in the
Mortgage, Maker acknowledges that in the event of an acceleration of payment of
this Note following an Event of Default by Maker, a tender of payment of an
amount necessary to satisfy the entire indebtedness evidenced hereby, but not
including the Prepayment Premium, made at any time prior to a foreclosure sale
by Maker, its successors or assigns or by anyone on behalf of Maker, shall be
presumed to be and conclusively deemed to constitute a deliberate evasion of the
prepayment provisions hereof and shall constitute a prepayment hereunder and
shall therefore be subject to the Prepayment Premium as calculated in accordance
with this Note with the date of prepayment being deemed the date of occurrence
of the foreclosure sale or the tender of payment of the amount necessary to pay
the entire indebtedness evidenced hereby in full, including the Prepayment
Premium.

11.   MAKER'S COVENANTS Maker agrees that:

      (a)  this instrument and the rights and obligations of all parties
hereunder shall be governed by and construed under the laws of the state or
commonwealth in which the Property is located;

      (b)  the obligation evidenced by this Note is an exempted transaction
under the Truth-in-Lending Act, 15 U.S.C Section 1601, ET SEQ.(1982);

      (c)  said obligation constitutes a business loan for the purpose of the
application of any laws that distinguish between consumer loans and business
loans and that have as their purpose the protection of consumers in the state or
commonwealth in which the Property is located;

      (d)  at the option of the Holder, the United States District Court for the
district in which the Property is located and any court of competent
jurisdiction of the state or commonwealth in which the Property is located shall
have jurisdiction in any action, suit or other proceeding arising out of or
relating to any act taken or omitted hereunder or the enforcement of this Note,
the Mortgage and the Related Agreements and Maker shall not assert in any such
action, suit or other proceeding that it is not personally subject to the
jurisdiction of such courts, that the action, suit or other proceeding is
brought in an inconvenient forum or that the venue of the action, suit or other
proceeding is improper;

      (e)  it hereby waives any objections to venue; and

      (f)  it hereby waives its right to a trial by jury.

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12.   SEVERABILITY The parties hereto intend and believe that each provision of
this Note comports with all applicable local, state and federal laws and
judicial decisions. However, if any provision or any portion of any provision
contained in this Note is held by a court of law to be invalid, illegal,
unlawful, void or unenforceable as written in any respect, then it is the intent
of all parties hereto that such portion or provision shall be given force to the
fullest possible extent that it is legal, valid and enforceable, that the
remainder of the Note shall be construed as if such illegal, invalid, unlawful,
void or unenforceable portion or provision was not contained therein, and the
rights, obligations and interests of Maker and Holder under the remainder of
this Note shall continue in full force and effect.

13.   USURY LAWS It is the intention of Maker and Holder to conform strictly to
the usury laws now or hereafter in force in the state or commonwealth in which
the Property is located, and any interest payable under this Note, the Mortgage,
or any Related Agreement shall be subject to reduction to an amount not to
exceed the maximum non-usurious amount for commercial loans allowed under the
usury laws of the state or commonwealth in which the Property is located as now
or hereafter construed by the courts having jurisdiction over such matters. In
the event such interest (whether designated as interest, service charges,
points, or otherwise) does exceed the maximum legal rate, it shall be

      (a)  canceled automatically to the extent that such interest exceeds the
maximum legal rate;

      (b)  if already paid, at the option of the Holder, either be rebated to
Maker or credited on the principal amount of the Note; or

      (c)  if the Note has been prepaid in full, then such excess shall be
rebated to Maker.

14.   ACCELERATION Upon the occurrence of an Event of Default, Holder shall have
the right, without demand or notice, to declare the entire principal amount of
this Note and/or any Future Advance (as defined in the Mortgage) then
outstanding, all accrued and unpaid interest thereon and all other sums payable
under this Note, which shall include the Prepayment Premium (calculated as
provided for in Paragraph 9 hereinabove), the Mortgage or any note evidencing
any Future Advance, to be immediately due and payable and, notwithstanding the
stated maturity in this Note or any note evidencing any Future Advance, all such
sums declared due and payable shall thereupon become immediately due and
payable. During the existence of such Event of Default, Holder may apply
payments received on any amounts due under this Note, the Mortgage, any Related
Agreement or any note evidencing any Future Advance as Holder may determine in
its sole discretion.

15.   WAIVERS BY MAKER As to this Note, the Mortgage, the Related Agreements and
any other instruments securing the indebtedness, Maker and all guarantors,
sureties and endorsers, severally waive all applicable exemption rights, whether
under any state constitution, homestead laws or otherwise, and also severally
waive diligence, valuation and appraisement, presentment for payment, protest
and demand, notice of protest, demand and dishonor and diligence in collection
and nonpayment of this Note and all other notices in connection with the
delivery, acceptance, performance, default, or enforcement of the payment of
this Note (except notice of default specifically provided for in the Mortgage
and the Related Agreements). To the extent permitted by law, Maker further
waives all benefit that might accrue to Maker by virtue of any present or future
laws exempting the Property, or any other property, real or personal, or the
proceeds arising from any sale of any such property, from attachment, levy, or
sale under execution, or providing for any stay of execution to be issued on any
judgment recovered on this Note or in any action to foreclose the Mortgage,
injunction against sale pursuant to power of sale, exemption from civil process
or extension of time for payment. Maker agrees that any real estate that may be
levied upon pursuant to a judgment obtained by virtue of this Note, or any writ
of execution issued thereon, may be sold upon any such writ in whole or in part
in any order desired by Holder.

16.   MAKER NOT RELEASED No delay or omission of Holder to exercise any of its
rights and remedies under this Note, the Mortgage or any Related Agreements at
any time following the happening of an Event of Default shall constitute a
waiver of the right of Holder to exercise such rights and remedies at a later
time by reason of such Event of Default or by reason of any subsequently
occurring Event of Default. This Note, or any payment hereunder, may be extended
from time to time by agreement in writing between Maker and Holder without in
any other way affecting the liability and obligations of Maker and endorsers, if
any.

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17.   NONRECOURSE Except as otherwise set forth in this section, Holder's
recourse under this Note, the Mortgage and the Related Agreements shall be
limited to and satisfied from the Property and the proceeds thereof, the rents
and all other income arising therefrom, the other assets of Maker arising out of
the Property which are given as collateral for this Note, and any other
collateral given in writing to Holder as security for repayment of this Note
(all of the foregoing are collectively referred to as the "Loan Collateral").
Notwithstanding the preceding sentence:

      (a)  Holder may, in accordance with the terms of this Note, the Mortgage
or any Related Agreement: (i) foreclose the lien of the Mortgage, (ii) take
appropriate action to enforce this Note, the Mortgage and any Related Agreements
to realize upon and/or protect the Loan Collateral, (iii) name Maker as a party
defendant in any action brought under this Note, the Mortgage or any Related
Agreement so long as the exercise of any remedy is limited to the Loan
Collateral, (iv) pursue all of its rights and remedies against any guarantor or
surety or master tenant, whether or not such guarantor or surety or master
tenant is a partner, member or other owner of Maker, (v) pursue all of its
rights and remedies against Maker and the indemnitors under that certain
Environmental Indemnity Agreement of even date herewith or (vi) pursue all of
its rights and remedies under that certain Payment Guaranty of even date
herewith made by Great Lakes REIT, a Maryland real estate investment trust
("Guarantor") in favor of Holder;

      (b)  Holder may seek damages or other monetary relief or any other remedy
at law or in equity against Maker, any general partner of Maker and the
Guarantor under that certain Nonrecourse Carveout Guaranty of even date herewith
("Nonrecourse Guaranty") by reason of or in connection with (i) the failure of
Maker to pay to Holder, upon demand, all rents, issues and profits of the
Property to which Holder is entitled pursuant to this Note, the Mortgage or the
Related Agreements following an Event of Default, (ii) any waste of the Property
or any willful act or omission by Maker which damages or materially reduces the
value of the Property, (iii) the failure to apply all rents, issues and profits
from the Property to the payment of operating expenses, real estate taxes,
insurance, capital repair items, and the payment of sums due and owing under
this Note, the Mortgage or the Related Agreements prior to any other expenditure
or distribution by Maker, (iv) the failure to account for and to turn over
security deposits (and interest required by law or agreement to be paid thereon)
or prepaid rents following the occurrence of an Event of Default under this
Note, the Mortgage or any Related Agreements, (v) the failure to timely pay real
estate taxes or any regular or special assessments affecting the Property, (vi)
the failure to maintain casualty and liability insurance as required under the
Mortgage or the Related Agreements or to apply insurance proceeds or
condemnation awards relating to the Property or other collateral in the manner
required under applicable provisions of this Note, the Mortgage or any Related
Agreements, or (vii) any modification, termination or cancellation of any lease
of all or any portion of the Property without Holder's prior written consent, if
and to the extent such consent is required under the Mortgage or the Related
Agreements and if and to the extent such modification, termination or
cancellation has a material adverse affect on the value of the Property; and

      (c)  Maker, any general partners of Maker and Guarantor shall become
personally liable for payment of the indebtedness evidenced by this Note and
performance of all other obligations of Maker under this Note, the Mortgage and
the Related Agreements upon the occurrence of any of the following: (i) fraud or
willful misrepresentation of a material fact by Maker, any general partners of
Maker or Guarantor in connection with this Note, the Mortgage or the Related
Agreements or any request for any action or consent by Holder, (ii) a Transfer
of any interest in Maker or all or any portion of the Property or any interest
therein in violation of the terms of this Note, the Mortgage or the Related
Agreements, or (iii) the incurrence by Maker of any indebtedness in violation of
the terms of this Note, the Mortgage or any Related Agreement (whether secured
or unsecured, direct or contingent), other than unsecured debt or routine trade
payables incurred in the ordinary course of business in connection with the
operation of the Property.

      In addition, Maker, any general partners of Maker and Guarantor shall be
responsible for any reasonable costs and expenses incurred by Holder in
connection with the collection of any amounts for which Maker, its general
partners, if any, and Guarantor are personally liable under this section,
including attorneys' fees and expenses, court costs, filing fees, and all other
costs and expenses incurred in connection therewith.

18.   SUCCESSORS AND ASSIGNS The provisions of this Note shall be binding upon
Maker and its legal representatives, successors and assigns and shall inure to
the benefit of any Holder and its successors and assigns. In

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the event Maker is composed of more than one party, obligations arising from
this Note are and shall be joint and several as to each such party.

19.   REMEDIES CUMULATIVE The remedies of Holder as provided in this Note, or in
the Mortgage or the Related Agreements, and the warranties contained herein or
therein shall be cumulative and concurrent, may be pursued singly, successively
or together at the sole discretion of Holder, may be exercised as often as
occasion for their exercise shall occur and in no event shall the failure to
exercise any such right or remedy be construed as a waiver or release of such
right or remedy. No remedy under this Note, conferred upon or reserved to Holder
is intended to be exclusive of any other remedy provided in this Note, the
Mortgage or the Related Agreements or provided by law, but each shall be
cumulative and shall be in addition to every other remedy given under the
Mortgage or any of the Related Agreements or hereunder or now or hereafter
existing at law or in equity or by statute.

20.   NOTICES All notices, written confirmation of wire transfers and all other
communications with respect to this Note shall be directed as follows: if to
Holder, c/o Commercial Mortgage Division, Allstate Plaza South, Suite G5C, 3075
Sanders Road, Northbrook, Illinois 60062, Attention: Servicing Manager, with a
copy to Investment Law Division, Allstate Plaza South, Suite G5A, 3075 Sanders
Road, Northbrook, Illinois 60062; if to Maker, GLR-1600 Corporate Center, LLC,
c/o Great Lakes REIT, 823 Commerce Drive, Suite 300, Oak Brook, Illinois 60523,
Attention: Chief Financial Officer with a copy to: Great Lakes REIT, 823
Commerce Drive, Suite 300, Oak Brook, Illinois 60523, Attention: General
Counsel. or at such other place as Holder or Maker may from time to time
designate in writing. All notices shall be in writing and shall be (a)
hand-delivered, (b) sent by United States express mail or by private overnight
courier, or (c) served by certified mail postage prepaid, return receipt
requested, to the appropriate address set forth above. Notices served as
provided in (a) and (b) shall be deemed to be effective upon delivery. Any
notice served by certified mail shall be deposited in the United States mail
with postage thereon fully prepaid and shall be deemed effective on the day of
actual delivery as shown by the addressee's return receipt or the expiration of
three business days after the date of mailing, whichever is earlier in time.

21.   NO ORAL MODIFICATION This Note may not be modified or discharged orally,
but only by an agreement in writing signed by the party against whom enforcement
of any waiver, modification or discharge is sought.

22.   TIME Time is of the essence with regard to the performance of the
obligations of Maker in this Note and each and every term, covenant and
condition herein by or applicable to Maker.

23.   CAPTIONS The captions and headings of the paragraphs of this Note are for
convenience only and are not to be used to interpret, define or limit the
provisions hereof.

24.   TRANSFER OF NOTE Holder may, at any time, sell, transfer or assign this
Note, the Mortgage and the Related Agreements, and any or all servicing rights
with respect to this Note, or grant participations in this Note or issue
mortgage pass-through certificates or other securities evidencing a beneficial
interest in this Note. Holder may forward to any prospective purchaser or any
rating agency rating securities all documents and information Holder now has or
may acquire, as Holder determines necessary or desirable, including, without
limitation, financial information regarding Maker, its general partners,
shareholders, members or other principals.

25.   REPLACEMENT NOTE Upon receipt of evidence reasonably satisfactory to Maker
of the loss, theft, destruction or mutilation of this Note, and in the case of
any such loss, theft or destruction, upon delivery of an indemnity agreement
reasonably satisfactory to Maker or, in the case of any such mutilation, upon
surrender and cancellation of this Note, Maker will execute and deliver to
Holder in lieu thereof, a replacement note dated as of the date of this Note,
identical in form and substance to this Note and upon such execution and
delivery all references in the Mortgage to this Note shall be deemed to refer to
such replacement note.

      IN WITNESS WHEREOF, Maker has caused this Mortgage Note to be duly
executed on the date first above written.

                             MAKER:

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                GLR - 1600 CORPORATE CENTER, LLC, a Delaware
                limited liability company

                       By:      GREAT LAKES REIT, L.P., a Delaware
limited partnership, its sole member

                            By:      GREAT LAKES REIT, a
                                     Maryland real estate investment trust, its
                                     sole general partner

                            By:
                                -------------------------------------
                                     Its:
                                          ------------------------------

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EXHIBIT A

BASIS POINT ADJUSTMENT TABLE

<Table>
<Caption>
U.S Treasury Bond        Basis Point      U.S. Treasury Bond        Basis Point
  or Note Yield           Adjustment         or Note Yield           Adjustment
-------------------      -----------    -----------------------     -----------
<S>                      <C>            <C>                         <C>

</Table>

                                       62
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<Table>
 <S>                             <C>
     0 -  1.55                   .0
  1.56 -  2.69                   .01
  2.70 -  3.48                   .02
  3.49 -  4.12                   .03
  4.13 -  4.68                   .04
  4.69 -  5.17                   .05
  5.18 -  5.63                   .06
  5.64 -  6.05                   .07
  6.06 -  6.44                   .08
  6.45 -  6.82                   .09
  6.83 -  7.17                   .10
  7.18 -  7.51                   .11
  7.52 -  7.83                   .12
  7.84 -  8.14                   .13
  8.15 -  8.44                   .14
  8.45 -  8.73                   .15
  8.74 -  9.02                   .16
  9.03 -  9.29                   .17
  9.30 -  9.55                   .18
  9.56 -  9.81                   .19
  9.82 - 10.07                   .20
 10.08 - 10.31                   .21
 10.32 - 10.55                   .22
 10.56 - 10.79                   .23
 10.80 - 11.02                   .24
 11.03 - 11.25                   .25
 11.26 - 11.47                   .26
 11.48 - 11.69                   .27
 11.70 - 11.90                   .28
 11.91 - 12.11                   .29
 12.12 - 12.32                   .30
 12.33 - 12.52                   .31
 12.53 - 12.72                   .32
 12.73 - 12.92                   .33
 12.93 - 13.12                   .34
 13.13 - 13.31                   .35
 13.32 - 13.50                   .36
 13.51 - 13.69                   .37
 13.70 - 13.87                   .38
 13.88 - 14.06                   .39
 14.07 - 14.24                   .40
</Table>

                                       63
<Page>

<Table>
 <S>                             <C>
 14.25 - 14.41                   .41
 14.42 - 14.59                   .42
 14.60 - 14.77                   .43
 14.78 - 14.94                   .44
 14.95 - 15.11                   .45
 15.12 - 15.28                   .46
 15.29 - 15.44                   .47
 15.45 - 15.61                   .48
 15.62 - 15.77                   .49
 15.78 - 15.94                   .50
 15.95 - 16.10                   .51
 16.11 - 16.26                   .52
 16.27 - 16.41                   .53
 16.42 - 16.57                   .54
 16.58 - 16.73                   .55
 16.74 - 16.88                   .56
 16.89 - 17.03                   .57
 17.04 - 17.18                   .58
 17.19 - 17.33                   .59
 17.34 - 17.48                   .60
 17.49 - 17.63                   .61
 17.64 - 17.78                   .62
 17.79 - 17.92                   .63
 17.93 - 18.07                   .64
 18.08 - 18.21                   .65
 18.22 - 18.35                   .66
 18.36 - 18.49                   .67
 18.50 - 18.63                   .68
 18.64 - 18.77                   .69
 18.78 - 18.91                   .70
 18.92 - 19.05                   .71
 19.06 - 19.18                   .72
 19.19 - 19.32                   .73
 19.33 - 19.45                   .74
 19.46 - 19.59                   .75
 19.60 - 19.72                   .76
 19.73 - 19.85                   .77
 19.86 - 19.99                   .78
 20.00 - 20.12
</Table>

                                       64<PAGE>

                                  Exhibit 10.10

                           CHANGE OF CONTROL AGREEMENT

         THIS AGREEMENT (the "Agreement") dated as of the 30th day of November,
1999 (the "Effective Date") by and between EQUITABLE RESOURCES, INC., a
Pennsylvania corporation with its principal place of business at Pittsburgh,
Pennsylvania (the "Company"), and, Murry S. Gerber, an individual (the
"Employee");

         WHEREAS, the Company and the Employee, pursuant to an Employment
Agreement dated May 4, 1998, are parties to a Change of Control Agreement dated
May 4, 1998, which provides for the payment of certain benefits to the Employee
if the Employee's employment terminates in certain circumstances following a
change of control of the Company (the "Existing Agreement"); and

         WHEREAS, the Board of Directors of the Company (the "Board"), continues
to believe that it is in the best interest of the Company and its shareholders
to assure that the Company will have the continued dedication of the Employee,
notwithstanding the possibility, threat or occurrence of a Change of Control (as
defined below) of the Company; that it is imperative to diminish the inevitable
distraction of the Employee by virtue of the personal uncertainties and risks
created by a pending or threatened Change of Control and to encourage the
Employee's full attention and dedication to the Company currently and in the
event of any threatened or pending Change of Control; and that it is appropriate
to provide the Employee with compensation and benefits arrangements upon a
Change of Control which ensure that the compensation and benefits expectations
of the Employee will be satisfied and which are competitive with those of other
corporations in the industry in which the Company's principal business activity
is conducted; and

         WHEREAS, in order to more fully accomplish the foregoing objectives,
the Company and the Employee desire to terminate the Existing Agreement and to
enter into this Agreement, which, among other things, clarifies and enhances in
certain respects the benefits payable to the Employee if the Employee's
employment terminates in certain circumstances following a Change in Control of
the Company and have agreed to amend the Employment Agreement accordingly;

         NOW THEREFORE, in consideration of the premises and mutual covenants
contained herein, and intending to be legally bound hereby, the parties hereto
agree as follows:

1.        TERM. The term of this Agreement shall commence on the Effective Date
          hereof and, subject to Sections 3(f), 5 and 8, shall terminate on the
          earlier of (i) the date of the termination of Employee's employment by
          the Company for any reason prior to a Change of Control; or (ii)
          unless further extended as hereinafter set forth, the date which is
          thirty-six (36) months after the Effective Date; provided, that,
          commencing on the last day of the first full calendar month after the
          Effective Date and on the last day of each succeeding calendar month,
          the term of this Agreement shall be automatically extended without
          further action by either party (but not beyond the date of the
          termination of Employee's employment prior to a Change of Control) for
          one (1) additional month

<PAGE>

          unless one party provides written notice to the other party that such
          party does not wish to extend the term of this Agreement. In the event
          that such notice shall have been delivered, the term of this Agreement
          shall no longer be subject to automatic extension and the term hereof
          shall expire on the date which is thirty-six (36) calendar months
          after the last day of the month in which such written notice is
          received.

2.        CHANGE OF CONTROL. Change of Control shall mean any of the following
          events (each of such events being herein referred to as a "Change of
          Control"):

          (a)  The sale or other disposition by the Company of all or
               substantially all of its assets to a single purchaser or to a
               group of purchasers, other than to a corporation with respect to
               which, following such sale or disposition, more than eighty
               percent (80%) of, respectively, the then outstanding shares of
               Company common stock and the combined voting power of the then
               outstanding voting securities entitled to vote generally in the
               election of the Board of Directors is then owned beneficially,
               directly or indirectly, by all or substantially all of the
               individuals and entities who were the beneficial owners,
               respectively of the outstanding Company common stock and the
               combined voting power of the then outstanding voting securities
               immediately prior to such sale or disposition in substantially
               the same proportion as their ownership of the outstanding Company
               common stock and voting power immediately prior to such sale or
               disposition;

          (b)  The acquisition in one or more transactions by any person or
               group, directly or indirectly, of beneficial ownership of twenty
               percent (20%) or more of the outstanding shares of Company common
               stock or the combined voting power of the then outstanding voting
               securities of the Company entitled to vote generally in the
               election of the Board of Directors; provided, however, that any
               acquisition by (x) the Company or any of its subsidiaries, or any
               employee benefit plan (or related trust) sponsored or maintained
               by the Company or any of its subsidiaries or (y) any person that
               is eligible, pursuant to Rule 13d-1(b) under the Exchange Act (as
               such rule is in effect as of November 1, 1995) to file a
               statement on Schedule 13G with respect to its beneficial
               ownership of Company common stock and other voting securities,
               whether or not such person shall have filed a statement on
               Schedule 13G, unless such person shall have filed a statement on
               Schedule 13D with respect to beneficial ownership of fifteen
               percent or more of the Company's voting securities, shall not
               constitute a Change of Control;

          (c)  The Company's termination of its business and liquidation of its
               assets;

          (d)  There is consummated a merger, consolidation, reorganization,
               share exchange, or similar transaction involving the Company
               (including a triangular merger), in any case, unless immediately
               following such transaction: (i) all or substantially all of the
               persons who were the beneficial owners of the outstanding common
               stock and outstanding voting securities of the Company
               immediately prior to the transaction beneficially own, directly
               or indirectly, more than 60% of the outstanding shares of common
               stock and the combined voting power of the then outstanding
               voting securities entitled to vote generally in the election of
               directors of the corporation

                                       2
<PAGE>

               resulting from such transaction (including a corporation or other
               person which as a result of such transaction owns the Company or
               all or substantially all of the Company's assets through one or
               more subsidiaries (a "Parent Company")) in substantially the same
               proportion as their ownership of the common stock and other
               voting securities of the Company immediately prior to the
               consummation of the transaction, (ii) no person (other than the
               Company, any employee benefit plan sponsored or maintained by the
               Company or, if reference was made to equity ownership of any
               Parent Company for purposes of determining whether clause (i)
               above is satisfied in connection with the transaction, such
               Parent Company) beneficially owns, directly or indirectly, 20% or
               more of the outstanding shares of common stock or the combined
               voting power of the voting securities entitled to vote generally
               in the election of directors of the corporation resulting from
               such transaction and (iii) individuals who were members of the
               Company's Board of Directors immediately prior to the
               consummation of the transaction constitute at least a majority of
               the members of the board of directors resulting from such
               transaction (or, if reference was made to equity ownership of any
               Parent Company for purposes of determining whether clause, (i)
               above is satisfied in connection with the transaction, such
               Parent Company); or

          (e)  The following individuals cease for any reasons to constitute a
               majority of the number of directors then serving: individuals
               who, on the date hereof, constitute the entire Board of Directors
               and any new director (other than a director whose initial
               assumption of office is in connection with an actual or
               threatened election contest, including but not limited to a
               consent solicitation, relating to the election of directors of
               the Company) whose appointment or election by the Board or
               nomination for election by the Company's shareholders was
               approved by a vote of at least two-thirds (2/3) of the directors
               then still in office who either were directors on the date hereof
               or whose appointment, election or nomination for election was
               previously so approved.

3.         SALARY AND BENEFITS CONTINUATION.

          (a)  Salary and Benefits Continuation" shall be defined to mean the
               following: (i) payment of an amount of cash equal to three (3)
               times the Employee's annual base salary in effect immediately
               prior to the Change of Control or the termination of Employee's
               employment, whichever is higher; (ii) payment of an amount of
               cash equal to three (3) times the highest annual incentive
               (bonus) payment earned by the Employee for any year in the three
               years prior to the termination of Employee's employment; (iii)
               provision to Employee and his/her eligible dependents of medical,
               long-term disability, dental and life insurance coverage (to the
               extent such coverage was in effect immediately prior to the
               Change of Control) for thirty-six (36) months; (iv) contribution
               by the Company to Employee's account under the Company's defined
               contribution retirement plan (known as the Equitable Resources,
               Inc. Employee Savings Plan) of an amount of cash equal to the
               amount that the Company would have contributed to such plan had
               the Employee continued to be employed by the Company for an
               additional thirty-six (36) months at a base salary

                                       3
<PAGE>

               equal to the Employee's base salary immediately prior to the
               Change of Control or the termination of Employee's employment,
               whichever is higher, such contribution being deemed to be made
               immediately prior to the termination of Employee's employment;
               provided, that to the extent that the amount of such contribution
               exceeds the amount then allowed to be contributed to the plan
               under the applicable rules relating to tax qualified retirement
               plans, then the excess shall be paid to the Employee in cash; (v)
               reimbursement to Employee of reasonable costs incurred by
               Employee for outplacement services in the twenty-four (24) month
               period following termination of Employee's employment.

          (b)  All amounts payable by the Company to the Employee in cash
               pursuant to Section 3(a) shall be made in a lump sum unless the
               Employee otherwise elects and notifies the Company in writing
               prior to the termination of Employee's employment of Employee's
               desire to have all payments made in accordance with the Company's
               regular salary and benefit payment practices, provided that (i)
               the lump sum payment or first payment shall be made within thirty
               (30) days after the Employee's termination hereunder, and (ii)
               the Employee may elect to defer such payments pursuant to the
               Company's then-existing deferred compensation plan(s). All other
               amounts payable by the Company to the Employee pursuant to
               Section 3 shall be paid or provided in accordance with the
               Company's standard payroll and reimbursement procedures, as in
               effect immediately prior to the Change of Control.

          (c)  In the event that medical, long-term disability, dental and life
               insurance benefits cannot be provided under appropriate Company
               group insurance policies, an amount equal to the premium
               necessary for the Employee to purchase directly the same level of
               coverage in effect immediately prior to the Change of Control
               shall be added to the Company's payments to Employee pursuant to
               Section 3(a) (payable in the manner elected by the Employee
               pursuant to Section 3(b)).

          (d)  If there is a Change of Control as defined above, the Company
               will provide Salary and Benefits Continuation if at any time
               during the first twenty-four (24) months following the Change of
               Control, either (i) the Company terminates the Employee's
               employment other than for Cause as defined in Section 4 below or
               (ii) the Employee terminates his/her employment for "Good Reason"
               as defined below.

          (e)  For purposes of this Agreement, "Good Reason" is defined as:

               (i)  Removal of the Employee from the position he/she held
                    immediately prior to the Change of Control (by reason other
                    than death, disability or Cause);

               (ii) The assignment to the Employee of any duties inconsistent
                    with those performed by the Employee immediately prior to
                    the Change of Control or a substantial alteration in the
                    nature or status of the Employee's responsibilities which
                    renders the Employee's position to be of less dignity,
                    responsibility or scope;

                                       4
<PAGE>

               (iii) A reduction by the Company in the Employee's annual base
                    salary as in effect on the date hereof or as the same may be
                    increased from time to time, except for proportional
                    across-the-board salary reductions similarly affecting all
                    executives of the Company and all executives of any person
                    in control of the Company, provided, however, that in no
                    event shall the Employee's annual base salary be reduced by
                    an amount equal to ten percent or more of the Employee's
                    annual base salary as of the end of the calendar year
                    immediately preceding the year in which the Change of
                    Control occurs, without the Employee's consent;

               (iv) The failure to grant the Employee an annual salary increase
                    reasonably necessary to maintain such salary as reasonably
                    comparable to salaries of senior executives holding
                    positions equivalent to the Employee's in the industry in
                    which the Company's then principal business activity is
                    conducted;

               (v)  The Company requiring the Employee to be based anywhere
                    other than the Company's principal executive offices in the
                    city in which the Employee is principally located
                    immediately prior to the Change of Control, except for
                    required travel on the Company's business to an extent
                    substantially consistent with the Employee's business travel
                    obligations prior to the Change of Control;

               (vi) Any material reduction by the Company of the benefits
                    enjoyed by the Employee under any of the Company's pension,
                    retirement, profit sharing, savings, life insurance,
                    medical, health and accident, disability or other employee
                    benefit plans, programs or arrangements, the taking of any
                    action by the Company which would directly or indirectly
                    materially reduce any of such benefits or deprive the
                    Employee of any material fringe benefits, or the failure by
                    the Company to provide the Employee with the number of paid
                    vacation days to which he/she is entitled on the basis of
                    years of service with the Company in accordance with the
                    Company's normal vacation policy, provided that this
                    paragraph (f) shall not apply to any proportional
                    across-the-board reduction or action similarly affecting all
                    executives of the Company and all executives of any person
                    in control of the Company; or

              (vii) The failure of the Company to obtain a satisfactory
                    agreement from any successor to assume and agree to perform
                    this Agreement, as contemplated in Section 15 hereof, or any
                    other material breach by the Company of its obligations
                    contained in this Agreement.

          (f)  The Employee's right to Salary and Benefits Continuation shall
               accrue upon the occurrence of either of the events specified in
               (i) or (ii) of Section 3(d) and shall continue as provided,
               notwithstanding the termination or expiration of this Agreement
               pursuant to Section 1 hereof. The Employee's subsequent
               employment, death or disability within the thirty-six (36) month
               period following

                                       5
<PAGE>

               the Employee's termination of employment in connection with a
               Change of Control shall not affect the Company's obligation to
               continue making Salary and Benefits Continuation payments. The
               Employee shall not be required to mitigate the amount of any
               payment provided for in this Section 3 by seeking employment or
               otherwise. The rights to Salary and Benefits Continuation shall
               be in addition to whatever other benefits the Employee may be
               entitled to under any other agreement or compensation plan,
               program or arrangement of the Company; provided, that the
               Employee shall not be entitled to any separate or additional
               severance payments pursuant to the Company's severance plan as
               then in effect and generally applicable to similarly situated
               employees. The Company shall be authorized to withhold from any
               payment to the Employee, his/her estate or his/her beneficiaries
               hereunder all such amounts, if any, that the Company may
               reasonably determine it is required to withhold pursuant to any
               applicable law or regulation.

4.        TERMINATION OF EMPLOYEE FOR CAUSE.

          (a)  Upon or following a Change of Control, the Company may at any
               time terminate the Employee's employment for Cause. Termination
               of employment by the Company for "Cause" shall mean termination
               upon: (i) the willful and continued failure by the Employee to
               substantially perform his/her duties with the Company (other than
               (A) any such failure resulting from Employee's disability or (B)
               any such actual or anticipated failure resulting from Employee's
               termination of his/her employment for Good Reason), after a
               written demand for substantial performance is delivered to the
               Employee by the Board of Directors which specifically identifies
               the manner in which the Board of Directors believes that the
               Employee has not substantially performed his/her duties, and
               which failure has not been cured within thirty days (30) after
               such written demand; or (ii) the willful and continued engaging
               by the Employee in conduct which is demonstrably and materially
               injurious to the Company, monetarily or otherwise, or (iii) the
               breach by the Employee of the confidentiality provision set forth
               in Section 8 hereof.

          (b)  For purposes of this Section 4, no act, or failure to act, on the
               Employee's part shall be considered "willful" unless done, or
               omitted to be done, by the Employee in bad faith and without
               reasonable belief that such action or omission was in the best
               interest of the Company. Notwithstanding the foregoing, the
               Employee shall not be deemed to have been terminated for Cause
               unless and until there shall have been delivered to him/her a
               copy of a resolution duly adopted by the affirmative vote of not
               less than three-quarters of the entire membership of the Board of
               Directors at a meeting of the Board of Directors called and held
               for that purpose (after reasonable notice to the Employee and an
               opportunity for the Employee, together with his/her counsel, to
               be heard before the Board of Directors) finding that in the good
               faith opinion of the Board of Directors the Employee is guilty of
               the conduct set forth above in clauses (a)(i), (ii) or (iii) of
               this Section 4 and specifying the particulars thereof in detail.

                                       6
<PAGE>

5.        PRIOR TERMINATION. Anything in this Agreement to the contrary
          notwithstanding, if the Employee's employment with the Company is
          terminated prior to the date on which a Change of Control occurs
          either (i) by the Company other than for Cause or (ii) by the Employee
          for Good Reason, and it is reasonably demonstrated by Employee that
          such termination of employment (a) was at the request of a third party
          who has taken steps reasonably calculated to effect the Change of
          Control, or (b) otherwise arose in connection with or anticipation of
          the Change of Control, then for all purposes of this Agreement the
          termination shall be deemed to have occurred upon a Change of Control
          and the Employee will be entitled to Salary and Benefits Continuation
          as provided for in Section 3 hereof.

6.        EMPLOYMENT AT WILL. Subject to the provisions of any other agreement
          between the Employee and the Company, the Employee shall remain an
          employee at will and nothing herein shall confer upon the Employee any
          right to continued employment and shall not affect the right of the
          Company to terminate the Employee for any reason not prohibited by
          law; provided, however, that any such removal shall be without
          prejudice to any rights the Employee may have to Salary and Benefits
          Continuation hereunder.

7.       CONSTRUCTION OF AGREEMENT.

         (a)   GOVERNING LAW. This Agreement shall be governed by and construed
               under the laws of the Commonwealth of Pennsylvania without regard
               to its conflict of law provisions.

         (b)   SEVERABILITY. In the event that any one or more of the provisions
               of this Agreement shall be held to be invalid, illegal or
               unenforceable, the validity, legality or enforceability of the
               remaining provisions shall not in any way be affected or impaired
               thereby.

          (c)  HEADINGS. The descriptive headings of the several paragraphs of
               this Agreement are inserted for convenience of reference only and
               shall not constitute a part of this Agreement.

8.       COVENANT AS TO CONFIDENTIAL INFORMATION.

          (a)  CONFIDENTIALITY OF INFORMATION AND NONDISCLOSURE. The Employee
               acknowledges and agrees that his/her employment by the Company
               under this Agreement necessarily involves his/her knowledge of
               and access to confidential and proprietary information pertaining
               to the business of the Company and its subsidiaries. Accordingly,
               the Employee agrees that at all times during the term of this
               Agreement and for a period of two (2) years after the termination
               of the Employee's employment hereunder, he/she will not, directly
               or indirectly, without the express written authority of the
               Company, unless directed by applicable legal authority having
               jurisdiction over the Employee, disclose to or use, or knowingly
               permit to be so disclosed or used, for the benefit of
               himself/herself, any person, corporation or other entity other
               than the Company, (i) any information concerning any financial
               matters, customer relationships, competitive status,

                                       7
<PAGE>

               supplier matters, internal organizational matters, current or
               future plans, or other business affairs of or relating to the
               Company and its subsidiaries, (ii) any management, operational,
               trade, technical or other secrets or any other proprietary
               information or other data of the Company or its subsidiaries, or
               (iii) any other information related to the Company or its
               subsidiaries or which the Employee subsidiaries which has not
               been published and is not generally known outside of the Company.
               The Employee acknowledges that all of the foregoing, constitutes
               confidential and proprietary information, which is the exclusive
               property of the Company.

          (b)  COMPANY REMEDIES. The Employee acknowledges and agrees that any
               breach of this Agreement by him/her will result in immediate
               irreparable harm to the Company, and that the Company cannot be
               reasonably or adequately compensated by damages in an action at
               law. In the event of an actual or threatened breach by the
               Employee of the provisions of this Section 8, the Company shall
               be entitled, to the extent permissible by law, immediately to
               cease to pay or provide the Employee or his/her dependents any
               compensation or benefit being, or to be, paid or provided to him
               pursuant to Section 3 of this Agreement, and also to obtain
               immediate injunctive relief restraining the Employee from conduct
               in breach or threatened breach of the covenants contained in this
               Section 8. Nothing herein shall be construed as prohibiting the
               Company from pursuing any other remedies available to it for such
               breach or threatened breach, including the recovery of damages
               from the Employee.

9.        REIMBURSEMENT OF FEES. The Company agrees to pay, to the full extent
          permitted by law, all legal fees and expenses which the Employee may
          reasonably incur as a result of any contest by the Company, Internal
          Revenue Service or others regarding the validity or enforceability of,
          or liability under, any provision of this Agreement or any guarantee
          of performance thereof (including as a result of any contest by the
          Employee about the amount of any payment pursuant to Section 3 of this
          Agreement) or in connection with any dispute arising from this
          Agreement, regardless of whether Employee prevails in any such contest
          or dispute.

10.       TAX GROSS-UP.

          (a)  Anything in this Agreement to the contrary notwithstanding, in
               the event it shall be determined that any payment or distribution
               by the Company to or for the benefit of the Employee (whether
               paid or payable or distributed or distributable pursuant to the
               terms of this Agreement or otherwise) (a "Payment") (i) would be
               subject to the excise tax imposed by section 4999 of the Code or
               any interest or penalties are incurred by the Employee with
               respect to the excise tax (such excise tax, together with any
               such interest and penalties, are hereinafter collectively
               referred to as the "Excise Tax") or (ii) is made pursuant to a
               Change of Control, then the Employee shall be entitled to receive
               an additional payment (a "Gross-Up Payment") in an amount such
               that after payment by the Employee of all taxes (including any
               interest or penalties imposed with respect to such taxes),
               including, without limitation, any income taxes (and any interest
               and penalties imposed with

                                       8
<PAGE>

               respect thereto) and Excise Tax imposed on the Payment and
               Gross-Up Payment, the Employee retains an amount equal to (x) the
               Payment plus (y) the Excise Tax (if any) imposed upon the Payment
               and the Gross-Up Payment.

               (b) Subject to the provisions of Section 10(c), all
               determinations required to be made under this Section 10,
               including whether and when a Gross-Up Payment is required and the
               amount of such Gross-Up Payment, shall be made by a nationally
               recognized accounting firm designated by the Company (the
               "ACCOUNTING FIRM") which shall provide detailed supporting
               calculations both to the Company and the Employee within fifteen
               (15) business days after there has been a Payment, or such
               earlier time as requested by the Company. In the event that the
               Accounting Firm is serving as accountant or auditor for the
               individual, entity or group effecting the Change in Control, the
               Company shall appoint another nationally recognized accounting
               firm to make the determinations required hereunder (which
               accounting firm shall then be referred to as the Accounting Firm
               hereunder). All fees and expenses of the Accounting Firm shall be
               borne solely by the Company. Any Gross-Up Payment, as determined
               pursuant to this Section 10, shall be paid by the Company to the
               Employee within five days of the receipt of the Accounting Firm's
               determination. Any determination by the Accounting Firm shall be
               binding upon the Company and the Employee. As a result of the
               uncertainty in the application of section 4999 of the Code at the
               time of the initial determination by the Accounting Firm
               hereunder, it is possible that Gross-Up Payments which will not
               have been made by the Company should have been made
               ("UNDERPAYMENT"), consistent with the calculations required to be
               made hereunder. In the event that the Company exhausts its
               remedies pursuant to Section 10(c) and the Employee thereafter is
               required to make a payment of any Excise Tax, the Accounting Firm
               shall determine the amount of the Underpayment that has occurred
               and any such Underpayment shall be promptly paid by the Company
               to or for the benefit of the Employee.

          (c)  The Employee shall notify the Company in writing of any claim by
               the Internal Revenue Service that, if successful, would require
               the payment by the Company of the Gross-Up Payment. Such
               notification shall be given as soon as practicable but no later
               than ten (10) business days after the Employee is informed in
               writing of such claim and shall apprise the Company of the nature
               of such claim and the date on which such claim is requested to be
               paid. The Employee shall not pay such claim prior to the
               expiration of the 30-day period following the date on which it
               gives such notice to the Company (or such shorter period ending
               on the date any payment of taxes with respect to such claim is
               due). If the Company notifies the Employee in writing prior to
               the expiration of such period that it desires to contest such
               claim, the Employee shall:

                    (i) give the Company any information reasonably requested by
               the Company relating to such claim;

                    (ii) take such action in connection with contesting such
               claim as the Company shall reasonably request in writing from
               time to time, including,

                                       9
<PAGE>

               without limitation, accepting legal representation with respect
               to such claim by an attorney reasonably selected by the Company;

                    (iii) cooperate with the Company in good faith in order
               effectively to contest such claim; and

                    (iv) permit the Company to participate in any proceedings
               relating to such claim;

               provided, however, that the Company shall bear and pay directly
               all costs and expenses (including additional interest and
               penalties) incurred in connection with such contest and shall
               indemnify and hold the Employee harmless, on an after-tax basis,
               for any Excise Tax or income tax (including interest and
               penalties with respect thereto) imposed as a result of such
               representation and payment of costs and expenses. Without
               limitation on the foregoing provisions of this Section 10(c), the
               Company shall control all proceedings taken in connection with
               such contest and, at its sole option, may pursue or forego any
               and all administrative appeals, proceedings, hearings and
               conferences with the taxing authority in respect of such claim
               and may, at its sole option, either direct the Employee to pay
               the tax claimed and sue for a refund or contest the claim in any
               permissible manner, and the Employee agrees to prosecute such
               contest to a determination before any administrative tribunal, in
               a court of initial jurisdiction and in one or more appellate
               courts, as the Company shall determine; PROVIDED, HOWEVER, that
               if the Company directs the Employee to pay such claim and sue for
               a refund, the Company shall advance the amount of such payment to
               the Employee, on an interest-free basis, and shall indemnify and
               hold the Employee harmless, on an after-tax basis, from any
               Excise Tax or income tax (including interest or penalties with
               respect thereto) imposed with respect to such advance or with
               respect to any imputed income with respect to such advance; and
               further provided that any extension of the statute of limitations
               relating to payment of taxes for the taxable year of the Employee
               with respect to which such contested amount is claimed to be due
               is limited solely to such contested amount. Furthermore, the
               Company's control of the contest shall be limited to issues with
               respect to which a Gross-Up Payment would be payable hereunder
               and the Employee shall be entitled to settle or contest, as the
               case may be, any other issue raised by the Internal Revenue
               Service or any other taxing authority.

          (d)  If, after the receipt by the Employee of an amount advanced by
               the Company pursuant to Section 10(c), the Employee becomes
               entitled to receive any refund with respect to such claim, the
               Employee shall (subject to the Company's complying with the
               requirements of Section 10) promptly pay to the Company the
               amount of such refund (together with any interest paid or
               credited thereon after taxes applicable thereto). If, after the
               receipt by the Employee of an amount advanced by the Company
               pursuant to Section 10(c), a determination is made that the
               Employee shall not be entitled to any refund with respect to such
               claim and the Company does not notify the Employee in writing of
               its intent to contest such denial of refund prior to the
               expiration of 30 days after such determination, then

                                       10
<PAGE>

               such advance shall be forgiven and shall not be required to be
               repaid and the amount of such advance shall offset, to the extent
               thereof, the amount of Gross-Up Payment required to be paid.

          (e)  The payments provided for in this Section 10 hereof shall be made
               not later than the tenth (10th) day following the termination of
               the Employee's employment; PROVIDED, HOWEVER, that if the amounts
               of such payments cannot be finally determined on or before such
               day, the Company shall pay to the Employee on such day an
               estimate, as determined in good faith by the Employee of the
               minimum amount of such payments to which the Employee is clearly
               entitled and shall pay the remainder of such payments (together
               with interest at 120% of the rate provided in section
               1274(b)(2)(B) of the Code) as soon as the amount thereof can be
               determined but in no event later than the thirtieth (30th) day
               after the termination of the Employee's employment. In the event
               that the amount of the estimated payments exceeds the amount
               subsequently determined to have been due, such excess shall
               constitute a loan by the Company to the Employee, payable on the
               fifth (5th) business day after demand by the Company (together
               with interest at 120% of the rate provided in section
               1274(b)(2)(B) of the Code). In the event the Company should fail
               to pay when due the amounts described in this Section 10, the
               Employee shall also be entitled to receive from the Company an
               amount representing interest on any unpaid or untimely paid
               amounts from the due date, as determined under this Section 10,
               to the date of payment at a rate equal to 120% of the rate
               provided in section 1274(b)(2)(B) of the Code.

11.      RESOLUTION OF DIFFERENCES OVER BREACHES OF AGREEMENT. Except as
         otherwise provided herein, in the event of any controversy, dispute or
         claim arising out of, or relating to this Agreement, or the breach
         thereof, or arising out of any other matter relating to the Employee's
         employment with the Company or the termination of such employment, the
         parties may seek recourse only for temporary or preliminary injunctive
         relief to the courts having jurisdiction thereof and if any relief
         other than injunctive relief is sought, the Company and the Employee
         agree that such underlying controversy, dispute or claim shall be
         settled by arbitration conducted in Pittsburgh, Pennsylvania in
         accordance with this Section 11 of this Agreement and the Commercial
         Arbitration Rules of the American Arbitration Association ("AAA"). The
         matter shall be heard and decided, and awards rendered by a panel of
         three (3) arbitrators (the "Arbitration Panel"). The Company and the
         Employee shall each select one arbitrator from the AAA National Panel
         of Commercial Arbitrators (the "Commercial Panel") and AAA shall
         select a third arbitrator from the Commercial Panel. The award
         rendered by the Arbitration Panel shall be final and binding as
         between the parties hereto and their heirs, executors, administrators,
         successors and assigns, and judgment on the award may be entered by
         any court having jurisdiction thereof.

12.      TREATMENT OF CERTAIN INCENTIVE AWARDS. All "Awards" held by the
         Employee under the Company's 1994 Long-Term Incentive Plan (the "1994
         Plan"), the Company's 1999 Long-Term Incentive Plan (the "1999 Plan")
         or the Company's Breakthrough Long-Term Incentive Plan (the
         "Breakthrough Plan") shall, upon a Change of Control, be treated in
         accordance with the terms of those Plans as in effect on the date of
         this Agreement,

                                       11
<PAGE>

         without regard to the subsequent amendment of those Plans. For purposes
         of this Section 12, the terms "Award" and "Change of Control" shall
         have the meanings ascribed to them in the 1999 Plan, the 1994 Plan and
         the Breakthrough Plan, as the case may be.

13.      RELEASE. The Employee hereby acknowledges and agrees that prior to
         the Employee's or his/her dependents' right to receive from the Company
         any compensation or benefit to be paid or provided to him/her or
         his/her dependents pursuant to Section 3 of this Agreement, the
         Employee may be required by the Company, in its sole discretion, to
         execute a release in a form reasonably acceptable to the Company, which
         releases any and all claims (other than amounts to be paid to Employee
         as expressly provided for under this Agreement) the Employee has or may
         have against the Company or its subsidiaries, agents, officers,
         directors, successors or assigns arising under any public policy, tort
         or common law or any provision of state, federal or local law,
         including, but not limited to, the Pennsylvania Human Relations Act,
         the Americans with Disabilities Act, Title VII of the Civil Rights Act
         of 1964, the Civil Rights Protection Act, Family and Medical Leave Act,
         the Fair Labor Standards Act, or the Age Discrimination in Employment
         Act of 1967.

14.      WAIVER. The waiver by a party hereto of any breach by the other party
         hereto of any provision of this Agreement shall not operate or be
         construed as a waiver of any subsequent breach by a party hereto.

15.      Assignment. This Agreement shall be binding upon and inure to the
         benefit of the successors and assigns of the Company. The Company shall
         be obligated to require any successor (whether direct or indirect, by
         purchase, merger, consolidation or otherwise) to all or substantially
         all of the Company's business or assets, by a written agreement in form
         and substance satisfactory to the Employee, to expressly assume and
         agree to perform this Agreement in the same manner and to the same
         extent that the Company would be required to perform if no succession
         had taken place. This Agreement shall inure to the extent provided
         hereunder to the benefit of and be enforceable by the Employee or
         his/her legal representatives, executors, administrators, successors,
         heirs, distributees, devisees and legatees. The Employee may not
         delegate any of his/her duties, responsibilities, obligations or
         positions hereunder to any person and any such purported delegation by
         him shall be void and of no force and effect with respect to matters
         relating to his/her employment and termination of employment. Without
         limiting the foregoing, the Employee's rights to receive payments and
         benefits hereunder shall not be assignable or transferable, other than
         a transfer by Employee's will or by the laws of descent and
         distribution.

16.      NOTICES. Any notices required or permitted to be given under this
         Agreement shall be sufficient if in writing, and if personally
         delivered or when sent by first class certified or registered mail,
         postage prepaid, return receipt requested -- in the case of the
         Employee, to his/her residence address as set forth below, and in the
         case of the Company, to the address of its principal place of business
         as set forth below, in care of the Chairman of the Board -- or to such
         other person or at such other address with respect to each party as
         such party shall notify the other in writing.

                                       12
<PAGE>

17.      PRONOUNS. Pronouns stated in either the masculine, feminine or neuter
         gender shall include the masculine, feminine and neuter.

18.      ENTIRE AGREEMENT. This Agreement contains the entire agreement of the
         parties concerning the matters set forth herein and all promises,
         representations, understandings, arrangements and prior agreements
         regarding the subject matter hereof (including the Existing Agreement,
         which the parties agree shall terminate as of the Effective Date
         hereof) are merged herein and superseded hereby; provided that the
         Employment Agreement, as amended, the Post-Termination Confidentiality
         & Non-Competition Agreement, dated May 4, 1998, and the Supplemental
         Executive Retirement Agreement shall not be merged or superseded but
         shall remain in full force and effect. The provisions of this Agreement
         may not be amended, modified, repealed, waived, extended or discharged
         except by an agreement in writing signed by the party against whom
         enforcement of any amendment, modification, repeal, waiver, extension
         or discharge is sought. No person acting other than pursuant to a
         resolution of the Board of Directors shall have authority on behalf of
         the Company to agree to amend, modify, repeal, waive, extend or
         discharge any provision of this Agreement or anything in reference
         thereto or to exercise any of the Company's rights to terminate or to
         fail to extend this Agreement.

         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed by its officers thereunto duly authorized, and the Employee has
hereunto set his/her hand, all as of the day and year first above written.

ATTEST:                                EQUITABLE RESOURCES, INC.

/s/ JEAN MARKS                            By: /s/ GREGORY R. SPENCER
------------------------------            -------------------------------------
                                             Gregory R. Spencer
                                             Sr. Vice President and Chief
                                             Administrative Officer

                                       Address:

                                       One Oxford Centre
                                       Suite 3300
                                       Pittsburgh, PA  15219

WITNESS:

/s/ DAVID SMITH                           By: /s/ MURRY S. GERBER
------------------------------            -------------------------------------

                                       Address:

                                       One Oxford Centre
                                       Suite 3300
                                       Pittsburgh, PA  15219

                                       13

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