SEC Contract Filing

Filing Date: 2023-05-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>spg-20230331xex10d2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.14.0.96--><!--Created on: 5/3/2023 07:54:22 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><a name="_Hlk133312483"></a><b style="font-size:12pt;font-weight:bold;">Exhibit&#160;10.2</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:14pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><b style="font-size:14pt;font-weight:bold;">Simon Property Group 2023 Incentive Compensation Plan </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:14pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><b style="font-size:14pt;font-weight:bold;">Simon Property Group Corporate ICP</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">1.</b></font><b style="font-size:12pt;font-weight:bold;">Purpose</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 36pt;"><font style="font-size:12pt;">The purpose of the Corporate ICP (&#8220;ICP&#8221; or &#8220;Plan&#8221;) is to provide an incentive to select, key senior executives who play an important role and contribute to the overall success of the enterprise (Corporate). This Plan is also intended to serve as a short-term retention vehicle.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">2.</b></font><b style="font-size:12pt;font-weight:bold;">Participation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 36pt;"><font style="font-size:12pt;">Participation under the Plan is limited to key employees (the &#8220;Participants&#8221;) who are determined by Executive Management (&#8220;Management&#8221;) and approved by the Chief Executive Officer of Simon Property Group, Inc. (the &#8220;Company&#8221;) as well as the Compensation and Human Capital Committee (the &#8220;Compensation Committee&#8221;) of the Company&#8217;s Board of Directors.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">3.</b></font><b style="font-size:12pt;font-weight:bold;">Duration</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 36pt;"><font style="font-size:12pt;">This ICP is an annual, calendar year plan, with appropriate performance goals established by Management and approved by the Compensation Committee for each Performance Year. Such performance goals shall be communicated to each Participant as soon as possible after they have been approved by the Compensation Committee and the identity of the Participants and their individual incentive opportunities have been established.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">4.</b></font><b style="font-size:12pt;font-weight:bold;">Administration</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;padding-left:35pt;text-indent:-35pt;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:35pt;"></font><font style="font-size:12pt;">The Plan shall be administered by Management. The awards shall be subject to achievement of certain performance goals, vesting, employment, individual performance, and other requirements and conditions which are explained herein.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1