EX-10 2 exhibit10_1.htm 2007 EXECUTIVE ANNUAL BONUS PROGRAM 2007 Executive Annual Bonus Program
EXHIBIT 10.1

2007 Executive Annual Bonus Program

1.  
The executive will earn a bonus opportunity, defined as a percent of annual salary, based on the FFO growth goals for the company in 2007.

a.  
Bonus opportunity will be capped at 200% of salary; the Compensation Committee has the discretion to adjust the opportunity by 25% based on various factors to compensate for overall shareholder performance or market conditions that may warrant such a modification.
b.  
80% of bonus opportunity will be based on FFO performance.

i.  
FFO per share growth at or below 2.00% will result in no bonus.
ii.  
Significant and non-recurring transactions and/or events that materially impact FFO may be separately considered by the Compensation Committee at their discretion.

c.  
20% of bonus opportunity will be based on individual performance in meeting goals defined in a personal plan for each executive.
2.  
The final computation will thus be as follows:

a.  
Amount of bonus opportunity is determined based 80% on FFO per share growth for the year.
i.  
Adjustment, if any, for any “material and non-recurring” events as deemed appropriate by the Compensation Committee.

b.  
Remainder of bonus opportunity is determined based 20% on attainment of individual goals for the year.
c.  
Adjustment, if any, through applying the “discretionary modifier” to the bonus opportunity (bonus opportunity can be adjusted a maximum of 25% up or down).