Amendment No. 1 to CBL & Associates Properties, Inc. 2012 Stock Incentive Plan
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Summary
This amendment updates the CBL & Associates Properties, Inc. 2012 Stock Incentive Plan. Effective December 31, 2013, the amendment changes the maximum number of shares that may be granted each year to non-employee directors to 10,000 shares per grant. The amendment was approved by the company's Board of Directors and is signed by the President and CEO, Stephen D. Lebovitz.
EX-10.5.7 2 exhibit1057.htm EXHIBIT 10.5.7 Exhibit 10.5.7 12-31-2013
Exhibit 10.5.7
AMENDMENT #1
TO
CBL & ASSOCIATES PROPERTIES, INC.
2012 STOCK INCENTIVE PLAN
Pursuant to the determination of the Board of Directors of the Company and by action of the Company’s shareholders at the Annual Shareholders Meeting of May 7, 2012, the CBL & Associates Properties, Inc. 2012 Stock Incentive Plan (the “Plan”) was adopted. Pursuant to the determination of the Board of Directors by Resolutions dated November 3, 2013 and January 7, 2014, the Plan is amended as follows:
The Plan is amended by deleting Section 12(a)(ii) of the Plan and inserting in lieu thereof the following as new Section 12(a)(ii):
(ii) Non-Employee Directors shares, as defined below, in an amount not to exceed 10,000 shares of Non-Employee Director Shares per grant each year.
Dated to be effective as of December 31, 2013.
CBL & Associates Properties, Inc.
By: | \s\ Stephen D. Lebovitz |
President and Chief Executive Officer | |
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