First Amendment to Trizec Properties, Inc. Non-Employee Directors Deferred Compensation Plan

Summary

This amendment, effective August 3, 2004, modifies the Trizec Properties, Inc. Non-Employee Directors Deferred Compensation Plan. The change updates how interest is credited to participants' accounts, specifying that account balances will now be adjusted based on the performance of valuation funds selected by each participant. The amendment was approved by the company's Board of Directors and executed by an authorized officer.

EX-10.26 5 c92270exv10w26.htm FIRST AMENDMENT TO NON-EMPLOYEE DIRECTORS DEFERRED COMPENSATION PLAN exv10w26

Exhibit 10.26

First Amendment to the Trizec Properties, Inc.
Non-Employee Directors Deferred Compensation Plan

WHEREAS, Trizec Properties, Inc. (the “Company”) has adopted the Trizec Properties, Inc. Non-Employee Directors Deferred Compensation Plan (the “Plan”); and

WHEREAS, Section 8.1 of the Plan provides that the Plan may be amended by the Board of Directors of the Company (the “Board”), and the Board has approved and adopted this amendment.

NOW, THEREFORE, the Company amends the Plan, effective August 3, 2004, in the following respects:

1. Section 4.5(c) shall be deleted and replaced in its entirety by the following:

“Interest. Each Account shall be increased or decreased by the Interest credited to such Account since the prior Determination Date as though the balance of that Account had been invested in the applicable Valuation Funds chosen by the Participant.”

IN WITNESS WHEREOF, this Amendment has been executed by a duly authorized officer of the Company, this 3^rd day of August, 2004.


	TRIZEC PROPERTIES, INC.
	/s/ Ted R. Jadwin
	Name:	Ted R. Jadwin
	Title:	Senior Vice President, General Counsel and Corporate Secretary