Exhibit 10.2
FOURTH AMENDMENT TO
SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF
LEPERCQ CORPORATE INCOME FUND II L.P.
This FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT
OF
LIMITED PARTNERSHIP OF LEPERCQ CORPORATE
INCOME FUND II L.P. (this "Amendment")
is made and effective as of January 3, 2005
by and among the entities and
individuals signatory hereto.
A. Lepercq Corporate Income Fund II L.P., a Delaware limited
partnership (the "Partnership") is governed
by that certain Second Amended and
Restated Agreement of Limited Partnership,
dated effective as of August 27,
1998, as amended by that certain First
Amendment thereto effective as of June
19, 2003, by Second Amendment thereto
effective as of June 30, 2003, and by
Third Amendment thereto effective as of
December 8, 2004 (the "Agreement").
Unless otherwise defined, all capitalized
terms used herein shall have such
meaning ascribed such terms in the
Agreement.
B. Lexington Corporate Properties Trust, a Maryland real estate
investment trust ("LXP") is the sole
unitholder of each of (i) Lex GP-1 Trust, a
Delaware statutory trust ("Lex GP") and
(ii) Lex LP-1 Trust, a Delaware
statutory trust ("Lex LP"). Lex GP is the
general partner of the Partnership,
Lepercq Corporate Income Fund L.P., a
Delaware limited partnership, and Net 3
Acquisition L.P., a Delaware limited
partnership (collectively, the "Operating
Partnerships"). Lex LP is the Initial
Limited Partner of each of the Operating
Partnerships.
C. Pursuant to that certain Underwriting Agreement, dated as of
December 2, 2004, by and among Bear,
Stearns & Co. Inc. (the "Underwriter "), on
the one hand, and LXP and the Operating
Partnerships, on the other, and as of
the date hereof, LXP has completed the
offer and sale (the "Offering") to the
Underwriter of an additional 400,000
preferred shares of beneficial interest,
classified as 6.50% Series C Cumulative
Convertible Preferred Stock, par value
$0.0001 per share, of LXP ("Preferred
Shares"), pursuant to a prospectus
supplement dated December 3, 2004 and the
accompanying base prospectus dated
October 22, 2003.
D. The Preferred Shares carry a (i) cumulative preferred
dividend, (ii) liquidation preference and
(iii) conversion right.
E. Pursuant to Section 4.2 of the Agreement, the Partnership
may
issue additional partnership interests to
LXP and its affiliates in connection
with the issuance of shares by LXP provided
LXP makes a capital contribution to
the Partnership of the proceeds raised in
connection with such issuance.
F. LXP has agreed to contribute a portion of the proceeds of
the
Offering to the Partnership in exchange for
Series C Preferred Operating
Partnership Units ("Preferred OP Units") in
the Partnership to be issued to an
affiliate of LXP, Lex LP.
<PAGE>
G. As required by Section 4.2 of the Agreement, the Preferred
OP
Units have designations, preferences and
other rights such that the economic
interests are substantially similar to the
designations, preferences and other
rights of the Preferred Shares, as further
described and set forth in the
Certificate of Designation for the
Preferred OP Units dated as of December 8,
2004.
H. As of the date hereof, and pursuant to the terms of the
Agreement, the parties hereto desire to
amend the Agreement to reflect the
issuance of an additional 65,112 Preferred
OP Units to Lex LP as well as all
other changes in the ownership of
Partnership Units since the date of the
Agreement by amending and restating Exhibit
A to the Agreement.
NOW, THEREFORE, the undersigned, being desirous of effectuating
the foregoing and amending the Agreement
accordingly, hereby enter into this
Amendment and amend the Agreement as
follows:
1. Preferred OP Units. Lex LP is hereby issued 65,112 Preferred
OP Units and shall have the rights,
preferences and privileges as set forth in
the Certificate of Designation. To the
extent there is a conflict between the
terms of the Certificate of Designation and
the terms of the Agreement, the
terms of the Certificate of Designation
shall control.
2. Exhibit A. Exhibit A to the Agreement is deleted in its
entirety and replaced with Exhibit A
hereto.
3. Miscellaneous. Except as amended hereby, the Agreement shall
remain unchanged and in full force and
effect.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment on behalf of the Partnership in
accordance with the provisions of
Section 14.1 of the Agreement as of the
date first written above.
GENERAL PARTNER:
LEX GP-1 TRUST
By:
/s/ T. Wilson Eglin
------------------------------
T. Wilson Eglin
Vice President
<PAGE>
EXHIBIT A
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exemption Date
---------------------------------------------------------------------------------------------------------------
<S>
<C>
<C>
<C>
<C>
General Partner
---------------
Lex GP-1 Trust
$100
35,411
0.72018%
N/A
Limited Partner
---------------
Lex LP-1 Trust
$100
3,462,082.5 70.41091%
N/A
Series B Preferred Limited Partner
----------------------------------
Lex LP-1 Trust
$14,199,025
567,961
100% (of
N/A
Series B)
Series C Preferred Limited Partner
----------------------------------
Lex LP-1 Trust
$24,568,637.56 504,619
100% (of
N/A
Series C)
Special Limited Partners
1.11285%
N/A
------------------------
Douglas S. Altabef
_____
3,354
The LCP Group, L.P.
_____
14,914
Ellen C. Monk
_____
2,161.5
E. Robert Roskind
_____
21,443
Richard J. Rouse
_____
8,241
Edward C. Whiting
_____
4,605
Phoenix Limited Partner
4.37884%
15-Jan-99
-----------------------
E. Robert Roskind
G.P.
interest
175,306
The E. Robert Roskind Family, L.P.
40,000
Warren Limited Partners
(Units
23.34995%
1-Sep-99
-----------------------
Contributed)
AGR Trust
2
6,672
Ambrose, Joseph D.
1
3,336
Ambrose, Joseph D. III
1
3,336
Angell, E. Joe
1
3,336
Baghramian, Michael M. & Carol
1
3,336
Bain, Frank L.(Jr.) & Linda C.
1
3,336
Bancroft, Toby O. Jr.
1
3,336
</TABLE>
<PAGE>
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exemption Date
---------------------------------------------------------------------------------------------------------------
<S>
<C>
<C>
<C>
<C>
Barnett, Paul
0.5
1,668
Bartlett, June F.
1
3,336
Becker, Karl E.
0.5
1,668
Berg, Michael P. & Virginia I.
1
3,336
Berger, Milton
1
3,336
Berman, Michael L.
1
3,336
W.C. & P.G. Bickett Family Trust
1
3,336
Birdsall, John H. Revocable
1
3,336
Intervivos Trust
Bolliger, Theodore T.
0.5
1,668
Bond, John L.
1
3,336
Botsai, Elmer E.
0.5
1,668
Boyd, John & Sylvia
1
3,336
Breen, James J.
1
3,336
Brenner, William I.
1
3,336
Broback Family Trust
1
3,336
Burnett Living Trust
1
3,336
Carpenter, David R.
0.5
1,668
Chambers, Richard O.
1
3,336
Chen, Howard H.
1
3,336
Chen, Wen Long & Chun Hwa
0.5
1,668
Cherin, Harris A.
0.5
1,668
Chinn, Aaron
1
3,336
Clark, William R. & Janice R.
1
3,336
Coberly (Joseph E. Jr.)Revocable Trust
1
3,336
Cooper, George M.
0.5
1,668
Croft (Nelda J.) Trust dtd 6/2/89
1
3,336
Crow, Frank (Jr.)
0.25
834
</TABLE>
A-2
<PAGE>
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exemption Date
---------------------------------------------------------------------------------------------------------------
<S>
<C>
<C>
<C>
<C>
Cuneo, Joseph J.
1
3,336
Dafcik, William V. (Jr.)
0.25
834
Dash, Jay
1
3,336
Davis, Phyllis B.
1
3,336
DeLapp, Phyllis B.
1
3,336
DMK Trust
1
3,336
Dorman, Malcolm J.
0.5
1,668
Dunn, Jerry.
1
3,336
Eagleson, James S. & Elree F.
1
3,336
Edelman (Alan) Trust
1
3,336
Ehland, Elizabeth
0.333
1,111
Eleuterio, Herbert
1
3,336
Endsley, (Fred S. Jr.) Ins. Trust
1
3,336
Evans, Robert L. & Jewell V.
1
3,336
Everett, Billy T. & Betty J.
1
3,336
Fogarty, Patrick J.
1
3,336
Fogelson, Jeffery P. & Janet
1
3,336
Fout, James E.
0.5
1,668
Fouts, John B. & Susan
1
3,336
Fox, Jerrold & Miriam
1
3,336
Frandsen (James S.) Trust u/a/d 5/7/90
1
3,336
Gibbins, Peggie
1
3,336
Girod, Rene M.
1
3,336
Gold, Ronald A.
1
3,336
Goldfinger, David A. Trust
1
3,336
Gosseen, Robert I. & Francine A.
1
3,336
The LCP Group
1
3,336
</TABLE>
A-3
<PAGE>
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exemption Date
---------------------------------------------------------------------------------------------------------------
<S>
<C>
<C>
<C>
<C>
Grimes, Daphne B.
1
3,336
Grossman, Kenneth S.
1
3,336
Habermann, James H. & Helen A.
1
3,336
Hallisey, Michael J. & Elizabeth
1
3,336
Hamada, Frank K.
0.5
1,668
Hanger, Robert T.
1
3,336
Hendler, Albert I.
1
3,336
Henry, Drexwell
4
13,343
Hilb, Justin M.
1
3,336
HMSP Realty Co.
1
3,336
Houston, Robert A.
1
3,336
Hundahl (John C.) Trust
1
3,336
Hyde, Dolores
0.5
1,668
Ingram, Charles B.
1
3,336
Irmscher, Carol M.
1
3,336
Ito, Thomas Yakata
0.5
1,668
Jameson, Jacqueline
0.333
1,111
Jenkins, Stephen L
1
3,336
Johnson, Russell L. & Mary C.
1
3,336
Jones (Edna M.) Rev. Trust uad 9/24/91
1
3,336
Joseph, Allen S.
1
3,336
Joseph, Gerald
1
3,336
Kaplansky, Arthur
1
3,336
Kaufman (Irving & Beatrice) Rev Trust
1
3,336
Keto, Robert E.
1
3,336
Korshun, Sanford L.
1
3,336
Kraines, Lawrence M.
3
10,007
</TABLE>
A-4
<PAGE>
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exemption Date
---------------------------------------------------------------------------------------------------------------
<S>
<C>
<C>
<C>
<C>
Kraines, Maurice H.
8
26,686
Kraines, Steven
3
10,007
Kuhlmann, Bruce W.
1
3,336
Larson, Carol
1
3,336
Lee, Robert T.
0.5
1,668
Lee, Winfred Y.
1
3,336
Lesser, Melvin M.
1.5
5,004
Lesser, Norman B.
0.5
1,668
Levine (Howard & Irene) Trust
1
3,336
Levy, James A. & Paul G.
1
3,336
Levy, Marie
0.5
1,668
Lockton, John D. Jr.
1
3,336
Love, Elizabeth
1
3,336
Lynch, F.F. Revocable Trust
1
3,336
Mankodi, Rashmikant P.
1
3,336
Markstein Trust
1
3,336
Maruyama, Donald
0.5
1,668
Maruyama, Harriet H.
0.5
1,668
McCanna, Living Trust
0.5
1,668
McCowan, Robert T.
1
3,336
McDonald, Allen R.
0.5
1,668
McGarry, Frank P.
0.5
1,668
McKee, Susan D.
0.5
1,668
McMillin, Gertrude
0.25
834
Monk, Edward H.
0.5
1,668
Moss, Joel
0.5
1,668
Naparst, Eugene A.
0.5
1,668
</TABLE>
A-5
<PAGE>
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exemption Date
---------------------------------------------------------------------------------------------------------------
<S>
<C>
<C>
<C>
<C>
Oceans Unlimited Partnership
1
3,336
Oliver, Fred L.
1
3,336
O'Meallie, Lawrence P.
1
3,336
Osborn, Robert P.
0.5
1,668
Otsuka, Charles I.
1
3,336
Padfield, Denise
0.25
834
Patel, Chupendra & Indira
1
3,336
Penn, Sanford R. Jr.
1
3,336
Phillips, Merlin
0.5
1,668
Philpot, Donald
1
3,336
Pine Forrest Irrevocable Trust
1
3,336
Potthoff, Anne
0.25
834
Quigg, John D. & Tim D.
1
3,336
Quinn, David C.
0.5
1,668
Rockstrom, Donald W.
0.5
1,668
Rosenberg, Seligman
1
3,336
Roth, Paul W. Sr.
2
6,672
Russell, Charles M. Jr.
0.5
1,668
Sanders Family Trust
1
3,336
Sandin (Richard L.) Trust
1
3,336
Sandin, R. Keith
1
3,336
Silberer, Eunice D.
3
10,007
Simmons, William M.
1
3,336
Sindler, Richard A.& Victoria M.
1
3,336
Smith, Edwin E.
1
3,336
Smith, Sandra
5
16,679
Specht, Alan
1
3,336
</TABLE>
A-6
<PAGE>
PARTNERS' CONTRIBUTIONS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
Percentage
Capital
Partnership Interest of
Redemption
Name of Partner
Contribution
Units
Class
Exempt
