Common use of Short-Term Incentive Bonus Clause in Contracts

Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 30% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.5% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 30% and 42.5% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 and US$75,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 60% of Base Salary and if the maximum goal is achieved the payout shall be a total of 85% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.

Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 30% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.5% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 30% and 42.5% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 and US$75,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 60% of Base Salary and if the maximum goal is achieved the payout shall be a total of 85% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all All STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.

Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 3025% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.537.5% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 3025% and 42.537.5% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 45,000 and US$75,00065,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007within 5 days following the execution of this agreement. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 6050% of Base Salary and if the maximum goal is achieved the payout shall be a total of 8575% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.

Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 30% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.5% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 30% and 42.5% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 and US$75,00070,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 60% of Base Salary and if the maximum goal is achieved the payout shall be a total of 85% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.

Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 3050% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.575% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 3050% and 42.575% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 165,000 and US$75,000250,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 60100% of Base Salary and if the maximum goal is achieved the payout shall be a total of 85150% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.

Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 3035% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.550% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 3035% and 42.550% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June June, 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 70,000 and US$75,000US$ 100,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 6070% of Base Salary and if the maximum goal is achieved the payout payout. shall be a total of 85100% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.