Amendment to Employment Agreement between Inland Western Retail Real Estate Trust, Inc. and Steven P. Grimes
This agreement modifies the employment terms between Steven P. Grimes and Inland Western Retail Real Estate Trust, Inc. It extends Mr. Grimes's employment through June 30, 2008, unless ended earlier, and ensures that any pay increase negotiated during this period will be retroactive to January 1, 2008. All other terms of the original employment agreement remain unchanged.
Exhibit 10.2
April 10, 2008
Mr. Steven P. Grimes
538 North Grant Street
Hinsdale, IL 60521
RE: EMPLOYMENT AGREEMENT
Dear Steve:
This letter agreement (this “Agreement”) modifies certain terms in your employment agreement with Inland Western Retail Real Estate Trust, Inc. (the “Company”).
1. Employment Period. Your term of employment with the Company shall continue until June 30, 2008 (the & #147;Employment Period”), subject to earlier termination as provided therein.
2. Retroactive. The Company acknowledges that any compensation increase negotiated during the remainder of the Employment Period shall be made retroactive to January 1, 2008.
3. Conflicts. All other terms and conditions in the original employment agreement remain in full force and effect.
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed and delivered as of the day and year first above written.
INLAND WESTERN RETAIL REAL | Steven P. Grimes | |||
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By: | /s/ Michael J. O’Hanlon |
| /s/ Steven P. Grimes | |
| Michael J. O’Hanlon |
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| President and Chief Executive Officer |
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