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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&g
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