Exhibit 10.17
WAIVER LETTER
Lexington Corporate Properties Trust
One Penn Plaza
Suite 4015
New York, NY 10119-4015
United States of America
Gentlemen:
Reference is made to (i) the Employment Agreement dated as of May 4, 2006 (“Employment Agreement”), between me and Lexington Corporate Properties Trust (“LXP”) and (ii) that certain Agreement and Plan of Merger, dated as of July 23, 2006 (the “Merger Agreement”), by and among LXP and Newkirk Realty Trust, Inc (“NKT”).
I hereby waive any rights I may have as a result of a Change of Control (as defined in the Employment Agreement) in connection with the transactions contemplated by the Merger Agreement, including, without limitation (1) any payments or accelerated vesting rights pursuant to Section 6 of the Employment Agreement and (2) any accelerated vesting or payment rights triggered upon a change in control and set forth in any restricted stock or deferred compensation agreement or any incentive or compensation plan, program or arrangement (the “Waiver”).
This Waiver shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to any laws thereof or choice of law principles that would require the application of the laws of any other jurisdiction.
Please acknowledge your agreement with the terms of this letter agreement by signing below.
Sincerely,
/s/ E. Robert Roskind
E. Robert Roskind
Acknowledged and Agreed to:
Lexington Corporate Properties Trust
By:/s/ Joseph S. Bonventre
Name: Joseph S. Bonventre
Title: Vice President
WAIVER LETTER
Lexington Corporate Properties Trust
One Penn Plaza
Suite 4015
New York, NY 10119-4015
United States of America
Gentlemen:
Reference is made to (i) the Employment Agreement dated as of May 4, 2006 (“Employment Agreement”), between me and Lexington Corporate Properties Trust (“LXP”) and (ii) that certain Agreement and Plan of Merger, dated as of July 23, 2006 (the “Merger Agreement”), by and among LXP and Newkirk Realty Trust, Inc (“NKT”).
I hereby waive any rights I may have as a result of a Change of Control (as defined in the Employment Agreement) in connection with the transactions contemplated by the Merger Agreement, including, without limitation (1) any payments or accelerated vesting rights pursuant to Section 6 of the Employment Agreement and (2) any accelerated vesting or payment rights triggered upon a change in control and set forth in any restricted stock or deferred compensation agreement or any incentive or compensation plan, program or arrangement (the “Waiver”).
This Waiver shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to any laws thereof or choice of law principles that would require the application of the laws of any other jurisdiction.
Please acknowledge your agreement with the terms of this letter agreement by signing below.
Sincerely,
/s/ Richard J. Rouse
Richard J. Rouse
Acknowledged and Agreed to:
Lexington Corporate Properties Trust
By:/s/ Joseph S. Bonventre
Name: Joseph S. Bonventre
Title: Vice President
WAIVER LETTER
Lexington Corporate Properties Trust
One Penn Plaza
Suite 4015
New York, NY 10119-4015
United States of America
Gentlemen:
Reference is made to (i) the Employment Agreement dated as of May 4, 2006 (“Employment Agreement”), between me and Lexington Corporate Properties Trust (“LXP”) and (ii) that certain Agreement and Plan of Merger, dated as of July 23, 2006 (the “Merger Agreement”), by and among LXP and Newkirk Realty Trust, Inc (“NKT”).
I hereby waive any rights I may have as a result of a Change of Control (as defined in the Employment Agreement) in connection with the transactions contemplated by the Merger Agreement, including, without limitation (1) any payments or accelerated vesting rights pursuant to Section 6 of the Employment Agreement and (2) any accelerated vesting or payment rights triggered upon a change in control and set forth in any restricted stock or deferred compensation agreement or any incentive or compensation plan, program or arrangement (the “Waiver”).
This Waiver shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to any laws thereof or choice of law principles that would require the application of the laws of any other jurisdiction.
Please acknowledge your agreement with the terms of this letter agreement by signing below.
Sincerely,
/s/ T. Wilson Eglin
T. Wilson Eglin
Acknowledged and Agreed to:
Lexington Corporate Properties Trust
By:/s/ Joseph S. Bonventre
Name: Joseph S. Bonventre
Title: Vice President
WAIVER LETTER
Lexington Corporate Properties Trust
One Penn Plaza
Suite 4015
New York, NY 10119-4015
United States of America
Gentlemen:
Reference is made to (i) the Employment Agreement dated as of May 4, 2006 (“Employment Agreement”), between me and Lexington Corporate Properties Trust (“LXP”) and (ii) that certain Agreement and Plan of Merger, dated as of July 23, 2006 (the “Merger Agreement”), by and among LXP and Newkirk Realty Trust, Inc (“NKT”).
I hereby waive any rights I may have as a result of a Change of Control (as defined in the Employment Agreement) in connection with the transactions contemplated by the Merger Agreement, including, without limitation (1) any payments or accelerated vesting rights pursuant to Section 6 of the Employment Agreement and (2) any accelerated vesting or payment rights triggered upon a change in control and set forth in any restricted stock or deferred compensation agreement or any incentive or compensation plan, program or arrangement (the “Waiver”).
This Waiver shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to any laws thereof or choice of law principles that would require the application of the laws of any other jurisdiction.
Please acknowledge your agreement with the terms of this letter agreement by signing below.
Sincerely,
/s/ Patrick Carroll
Patrick Carroll
Acknowledged and Agreed to:
Lexington Corporate Properties Trust
By:/s/ Joseph S. Bonventre
Name: Joseph S. Bonventre
Title: Vice President
WAIVER LETTER
Lexington Corporate Properties Trust
One Penn Plaza
Suite 4015
New York, NY 10119-4015
United States of America
Gentlemen:
Reference is made to (i) the Employment Agreement dated as of May 4, 2006 (“Employment Agreement”), between me and Lexington Corporate Properties Trust (“LXP”) and (ii) that certain Agreement and Plan of Merger, dated as of July 23, 2006 (the “Merger Agreement”), by and among LXP and Newkirk Realty Trust, Inc (“NKT”).
I hereby waive any rights I may have as a result of a Change of Control (as defined in the Employment Agreement) in connection with the transactions contemplated by the Merger Agreement, including, without limitation (1) any payments or accelerated vesting rights pursuant to Section 6 of the Employment Agreement and (2) any accelerated vesting or payment rights triggered upon a change in control and set forth in any restricted stock or deferred compensation agreement or any incentive or compensation plan, program or arrangement (the “Waiver”).
This Waiver shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to any laws thereof or choice of law principles that would require the application of the laws of any other jurisdiction.
Please acknowledge your agreement with the terms of this letter agreement by signing below.
Sincerely,
/s/ John B. Vander Zwaag
John B. Vander Zwaag
Acknowledged and Agreed to:
Lexington Corporate Properties Trust
By:/s/ Joseph S. Bonventre
Name: Joseph S. Bonventre
Title: Vice President
