UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 7, 2010 (July 7, 2010)
Date of Report (Date of earliest event reported)
FIRST INDUSTRIAL REALTY TRUST, INC.
(Exact name of registrant as specified in its charter)
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Maryland
(State or other jurisdiction
of incorporation or
organization)
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1-13102
(Commission File Number)
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36-3935116
(I.R.S. Employer
Identification No.) |
311 S. Wacker Drive, Suite 4000
Chicago, Illinois 60606
(Address of principal executive offices, zip code)
(312) 344-4300
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.
On July 7, 2010, the Compensation Committee (the “Committee”) of the Board of Directors of First
Industrial Realty Trust, Inc. (the “Company”) approved the terms of a service-based incentive award
to certain officers and employees of the Company, including the Company’s Chief Investment Officer
and acting Chief Financial Officer.
Service-Based Incentive Plan (the “Service Plan”)
Grantees of an award under a Service-Based Bonus Agreement (the “Bonus Agreement”) pursuant to
the Service Plan who remain employed with the Company through and including June 30, 2011 will
be eligible for a specified cash bonus (the “Bonus”). In the event (i) a grantee’s employment with
the Company is terminated on or prior to June 30, 2011 as a result of grantee’s death or by the
Company due to grantee’s disability or (ii) a change of control is consummated on or prior to June
30, 2011 and the grantee remains employed with the Company through the date of such change of
control, the grantee will be eligible for an amount in cash equal to three (3) times the Bonus, in
lieu of the Bonus. Subject to the foregoing, in the event of the termination of a grantee’s
employment with the Company by the Company with or without cause or by the grantee for any reason
prior to the earlier of June 30, 2011 or the consummation of a change of control, the grantee will
not be eligible for any Bonus.
Under their respective Service-Based Bonus Agreements, the Bonuses specified for Johannson L. Yap,
the Company’s Chief Investment Officer, and Scott A. Musil, the Company’s acting Chief Financial
Officer, are $68,850 and $48,195, respectively.
A copy of the form of Bonus Agreement is attached hereto as Exhibit 10.1 and incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed herewith:
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| Exhibit No. |
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Description |
| 10.1 |
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Form of Service-Based Bonus Agreement |