0001181431-05-013389 Sample Contracts

NONELECTIVE DEFERRED COMPENSATION AGREEMENT Effective January 1, 2005
Nonelective Deferred Compensation Agreement • March 1st, 2005 • Sizeler Property Investors Inc • Real estate investment trusts • Louisiana

THIS AGREEMENT, entered into as of the first day of January, 2005, by and between Sizeler Property Investors, Inc., a Maryland corporation qualified as a real estate investment trust ("SPI"), with principal offices at 2542 Williams Boulevard, Kenner, Louisiana, and Sidney W. Lassen, an individual residing in New Orleans, Louisiana ("Executive").

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NONELECTIVE DEFERRED COMPENSATION AGREEMENT Effective January 1, 2005
Nonelective Deferred Compensation Agreement • March 1st, 2005 • Sizeler Property Investors Inc • Real estate investment trusts • Louisiana

THIS AGREEMENT, entered into as of the first day of January, 2005, by and between Sizeler Property Investors, Inc., a Maryland corporation qualified as a real estate investment trust ("SPI"), with principal offices at 2542 Williams Boulevard, Kenner, Louisiana, and Guy M. Cheramie, an individual residing in New Orleans, Louisiana ("Executive").

TRUST AGREEMENT
Trust Agreement • March 1st, 2005 • Sizeler Property Investors Inc • Real estate investment trusts • Louisiana

Before me, the undersigned Notary Public, duly commissioned and qualified in and for the State of Louisiana, and in the presence of the undersigned competent witnesses personally came and appeared: SIZELER PROPERTY INVESTORS, INC., a Maryland corporation with its principal office located at 2542 Williams Boulevard, Kenner, Louisiana (the "Company"), appearing by and through Thomas A. Masilla, Jr., its duly authorized and empowered President, and Hibernia National Bank (the "Trustee"), a National Bank with its principal office located at 313 Carondelet Street, New Orleans, Louisiana 70130, appearing by and through Bryant Magee its duly authorized and empowered Vice President and Trust Officer,

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