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CSG > SEC Filings for CSG > Form 8-K on 31-Jul-2014All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statements and Ex

Item 5.02 Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 31, 2014, the Compensation Committee of the Board of Trustees (the "Compensation Committee") of Chambers Street Properties (the "Company") adopted and approved an incentive bonus plan, a form of restricted share award agreement, and a form of restricted share unit award agreement that may be used in connection with awards made pursuant to the Company's 2013 Equity Incentive Plan (the "Plan") from time to time to the Company's trustees, executive officers and other employees.

The incentive bonus plan is intended to provide additional incentive for key employees of the Company to perform to the best of their abilities, to further the growth, development and financial success of the Company, and to enable the Company to attract and retain qualified and talented individuals. The Compensation Committee administers the incentive bonus plan and has the authority to, among other things, (i) establish bonus programs from to time to time, (ii) condition bonuses on the passage of time or the achievement of performance criteria, (iii) pay bonuses in cash, the Company's common shares of beneficial interest, par value $0.01 per share ("Shares"), or a combination of both, and (iv) determine employee eligibility.

The forms of restricted share award agreement and restricted share unit award agreement are each adopted pursuant to the Plan. The form of restricted share award agreement provides a grantee with an amount of Shares based on a time-based vesting formula. The form of restricted share unit award agreement is a contingent commitment of the registrant to issue Shares to a grantee based on certain performance-based goals determined by the Compensation Committee.

The above description of the incentive bonus plan, form of restricted share award agreement and form of restricted share unit award agreement contained in this Item 5.02 does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the incentive bonus plan, form of restricted share award agreement and form of restricted share unit award agreement, which are filed as Exhibits 10.1 through 10.3 to this Current Report on Form 8-K and are incorporated by reference into this Item 5.02.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Chambers Street Properties Incentive Bonus Plan

10.2 Form of Restricted Share Award Agreement

10.3 Form of Restricted Share Unit Award Agreement

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