Common use of Performance Unit Clause in Contracts

Performance Unit. The first Performance Unit portion of this Award is being granted pursuant to Section 10 of the Plan, and shall have the terms set forth in the table below, subject, absolutely, to the terms of the Plan and to the Committee's discretion to interpret the Plan and this Award in any manner that the Committee may deem reasonably necessary or appropriate in order for this Award to satisfy the requirements for "performance-based compensation" within the meaning of Section 162(m)(4) of the Code, and associated tax regulations and rulings. The Performance Unit set forth in the table below provides that you may qualify to receive an amount of cash that falls within the range specified in the table below, such amount to be determined based on the extent to which, if at all, the Performance Measures for Determining Qualification have been satisfied and in accordance with the weights assigned thereto. -------------------------------- ------------------------------------------------------------- Range in Amount of Cash Threshold: $__________ Target: $__________ Maximum: $__________ -------------------------------- ------------------------------------------------------------- Performance Period _________, 20__ to ________, 20__ -------------------------------- ------------------------------------------------------------- Performance Units Award Capital Trust, Inc. Amended and Restated 2004 Long-Term Incentive Plan -------------------------------- ------------------------------------------------------------- Performance Measures to See Schedule A attached hereto. Determine Qualification and Amount -------------------------------- ------------------------------------------------------------- Qualification Subject to treatment (including, as applicable, acceleration) upon termination of employment as provided in the Plan, on _________, 20__, you shall qualify to receive such amount of cash that corresponds to the extent to which the above Performance Measures for Determining Qualification are satisfied and the weights assigned thereto as set forth on Schedule A. -------------------------------- -------------------------------------------------------------

Performance Unit. The first second Performance Unit portion of this Award is being granted pursuant to Section 10 of the Plan, and shall have the terms set forth in the table below, ; subject, absolutely, to the terms of the Plan and to the Committee's discretion to interpret the Plan and this Award in any manner that the Committee may deem reasonably necessary or appropriate in order for this Award to satisfy the requirements for "performance-based compensation" within the meaning of Section 162(m)(4) of the Code, and associated tax regulations and rulings. The Performance Unit set forth in the table below provides that you may qualify to receive an amount receive, subject to further vesting, a number of cash Shares with a value that falls within the range of values specified in the table below, such amount value to be determined based on the extent to which, if at all, the Performance Measures for Determining Qualification have been satisfied and in accordance with the weights assigned thereto. -------------------------------- ------------------------------------------------------------- Performance Units Award Capital Trust, Inc. Amended and Restated 2004 Long-Term Incentive Plan --------------------------------- -------------------------------------------------------------- Range in Amount Value of Cash Shares Threshold: $__________ Target: $__________ Maximum: $__________ -------------------------------- ------------------------------------------------------------- --------------------------------- -------------------------------------------------------------- Performance Period _for ________, 20__ to _________, 20__ -------------------------------- ------------------------------------------------------------- Performance Units Award Capital Trust, Inc. Amended and Restated 2004 Long-Term Incentive Plan -------------------------------- ------------------------------------------------------------- Qualification --------------------------------- -------------------------------------------------------------- Performance Measures to See Schedule A B attached hereto. Determine Qualification and Amount -------------------------------- ------------------------------------------------------------- Value --------------------------------- -------------------------------------------------------------- Pricing Date to Determine __________, 20__ Number of Shares --------------------------------- -------------------------------------------------------------- Qualification Subject to the treatment (including, as applicable, acceleration) upon termination of employment as provided in the Plan, on _________, 20___, you shall may qualify to receive a number of Shares equal in value to (based on the closing price on the Pricing Date) such amount of cash value that corresponds to the extent to which the above Performance Measures for Determining Qualification are satisfied and the weights assigned thereto as set forth on Schedule A. -------------------------------- -------------------------------------------------------------B. The Shares, if any, you qualify to receive will be issued as of the Pricing Date, but shall be subject to further vesting as set forth below. --------------------------------- -------------------------------------------------------------- --------------------------------- -------------------------------------------------------------- Performance Period for Further ____________, 20__ to ____________, 20__ Vesting --------------------------------- -------------------------------------------------------------- Performance Measure for The Total Shareholder Return (dividends plus stock price Determining Further Vesting appreciation) of the Company must equal or exceed __% per annum for the entire Performance Period for Further Vesting. --------------------------------- -------------------------------------------------------------- Further Vesting Subject to treatment (including, as applicable, acceleration) upon termination of employment as provided in the Plan, (a) with respect to __% of the Shares, such shares shall vest in equal _____ installments at the end of each calendar quarter during the ____-year period commencing on _____, 20__ and ending on __________, 20__ and (b) with respect to __% of the shares, 100% of such shares shall vest on ________, 20__ provided that the Performance Measure for Determining Further Vesting is satisfied. --------------------------------- --------------------------------------------------------------