GABLES RESIDENTIAL TRUST SENIOR MANAGEMENT INCENTIVE COMPENSATION PLANExecutive Compensation Plan Agreement |
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Exhibit 10.1
GABLES RESIDENTIAL TRUST
SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN
The provisions of the Gables Residential Trust Senior Management Incentive Compensation Plan (the “Plan”) apply to executive officers of Gables Residential Trust (the “Company”) selected to participate in the Plan by the Compensation Committee of the Board of Trustees of the Company (the “Committee”). The Plan is effective as of January 1, 2005.
The Plan is administered by the Committee and consists of two segments: (1) annual incentive compensation payable in the form of cash bonuses, and (2) annual incentive compensation payable in the form of restricted stock awards or units of partnership interests in Gables Realty Limited Partnership (“Units”) based on the Company’s growth in total return to shareholders over a three-year period relative to the National Association of Real Estate Investment Trusts, Inc. Equity Residential Apartment REIT Total Return Index (“NAREIT Apartment Index”). All determinations as to bonuses and awards are made by the Committee.
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