0000950144-08-003349 Sample Contracts

COLONIAL PROPERTIES TRUST 2008 OMNIBUS INCENTIVE PLAN NON-QUALIFIED SHARE OPTION AGREEMENT
Non-Qualified Share Option Agreement • April 29th, 2008 • Colonial Properties Trust • Real estate investment trusts

Colonial Properties Trust, an Alabama real estate investment trust (the “Company”), hereby grants an option to purchase its common shares of beneficial interest, $.01 par value (each, a “Share and collectively, the “Shares”), to the optionee named below. The terms and conditions of the option are set forth in this cover sheet and in the attachment (collectively, the “Agreement”), and in the Company’s 2008 Omnibus Incentive Plan (the “Plan”).

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COLONIAL PROPERTIES TRUST 2008 OMNIBUS INCENTIVE PLAN RESTRICTED SHARE AGREEMENT
Restricted Share Agreement • April 29th, 2008 • Colonial Properties Trust • Real estate investment trusts

Colonial Properties Trust, an Alabama real estate investment trust (the “Company”), hereby grants its common shares of beneficial interest, $.01 par value (each, a “Share” and collectively, the “Shares”), to the Grantee named below, subject to the vesting conditions set forth in the attachment. Additional terms and conditions of the grant are set forth in this cover sheet and in the attachment (collectively, the “Agreement”) and in the Company’s 2008 Omnibus Incentive Plan (the “Plan”).

COLONIAL PROPERTIES TRUST 2008 OMNIBUS INCENTIVE PLAN NON-QUALIFIED SHARE OPTION AGREEMENT
Qualified Share Option Agreement • April 29th, 2008 • Colonial Properties Trust • Real estate investment trusts

Colonial Properties Trust, an Alabama real estate investment trust (the “Company”), hereby grants an option to purchase its common shares of beneficial interest, $.01 par value, (each, a “Share and collectively, the “Shares”) to the optionee named below. The terms and conditions of the option are set forth in this cover sheet and in the attachment (collectively, the “Agreement”), and in the Company’s 2008 Omnibus Incentive Plan (the “Plan”).

COLONIAL PROPERTIES TRUST 2008 OMNIBUS INCENTIVE PLAN RESTRICTED SHARE AGREEMENT
Restricted Share Agreement • April 29th, 2008 • Colonial Properties Trust • Real estate investment trusts

Colonial Properties Trust, an Alabama real estate investment trust (the “Company”), hereby grants its common shares of beneficial interest, $.01 par value (each, a “Share” and collectively, the “Shares”), to the Grantee named below, subject to the vesting conditions set forth in the attachment. Additional terms and conditions of the grant are set forth in this cover sheet and in the attachment (collectively, the “Agreement”) and in the Company’s 2008 Omnibus Incentive Plan (the “Plan”).

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