EX-10.2 3 c17012exv10w2.htm SUMMARY OF U.S. MANAGING DIRECTOR 2007 INCENTIVE COMPENSATION PLAN exv10w2
 

EXHIBIT 10.2
    Summary of U.S. Managing Director 2007 Incentive Compensation Plan
 
  Each U.S. Managing Director is eligible to receive 14% base override on the new business generation compensation paid to officers of the U.S. Managing Director’s region.
 
  Each U.S. Managing Director is eligible to receive 3% additional override on the new business generation compensation paid to the officers of the U.S. Managing Director’s region for certain types of transactions.
 
  Compensation will be paid 60% cash and 40% restricted stock. Restricted stock will vest ratably over 3 years. There will be no pre-set limit on the amount of U.S. Managing Director incentive compensation.
 
  Certain recognized losses from comparable transactions will offset gains for the purpose of determining compensation payable.
 
  Additional incentive compensation of up to $75,000 for each category ($300,000 in the aggregate) is payable based upon 1) a U.S. Managing Director’s cities within his region generating minimum profits from new business generation transactions and minimum volumes of acquisition, development and certain targeted transactions during a calendar year; 2) a U.S. Managing Director’s region generating a minimum acquisition/re-development volume during a calendar year; 3) a U.S. Managing Director’s region generating a minimum dollar volume of development starts and developments in-service during the calendar year; and 4) a U.S. Managing Director meeting sales leadership responsibilities in certain areas.

20