EXHIBIT 10(xiv)
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AMENDMENT TO
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EMPLOYMENT AGREEMENT
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THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment"), dated as of
December 5, 2000, between UNITED DOMINION REALTY TRUST, INC., a Virginia
corporation (the "Company") and A. XXXXXXX XXXXXX (the "Executive") recites and
provides as follows:
R E C I T A L S
On September 30, 1999, the Company and the Executive entered into an
employment agreement (the "Employment Agreement"). The Company and the Executive
now wish to amend the Employment Agreement as set forth herein.
A M E N D M E N T
NOW, THEREFORE, for and in consideration of the mutual covenants and
agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereby
agree as follows:
1. Defined Terms. Capitalized terms in this Amendment shall have the same
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meaning as set forth in the Agreement, unless otherwise modified hereby. All
references in the Agreement to the Agreement shall be references to such
document as modified hereby.
2. Severance Compensation. Section 4(c)(i) of the Agreement is hereby amended
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by adding the following sentence at the end thereof:
Notwithstanding the above, in the event that this Agreement is terminated
in accordance with Section 4(b) hereof, then the Executive shall be paid
one-hundred and four (104) weeks of base salary and shall receive the other
benefits described in this Section 4(c)(i) for a period of one-hundred and
four (104) weeks.
3. Incentive Compensation. Section 4(c)(ii) of the Agreement is hereby amended
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by adding the following sentence at the end thereof:
Notwithstanding the above, in the event that this Agreement is terminated
in accordance with Section 4(b) hereof, then the "Average Annual Incentive
Compensation" shall mean the Average Annual Incentive Compensation
multiplied by two.
4. Agreement. Except as herein amended, the Employment Agreement remains in
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full force and effect.
[Signatures appear on the following page.]
WE AGREE TO THIS:
UNITED DOMINION REALTY TRUST, INC.,
a Virginia corporation
By: ________________________________
Its: ________________________________
EXECUTIVE
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A. XXXXXXX XXXXXX
