0000831259-05-000080 Sample Contracts

STRATUS PROPERTIES INC. RESTRICTED STOCK UNIT AGREEMENT UNDER THE 2002 STOCK INCENTIVE PLAN
Agreement • August 12th, 2005 • Stratus Properties Inc • Land subdividers & developers (no cemeteries)

AGREEMENT dated as of ______________, 20__ (the “Grant Date”), between Stratus Properties Inc., a Delaware corporation (the “Company”), and ______________ (the “Participant”).

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STRATUS PROPERTIES INC. RESTRICTED STOCK UNIT AGREEMENT UNDER THE 1998 STOCK OPTION PLAN
Agreement • August 12th, 2005 • Stratus Properties Inc • Land subdividers & developers (no cemeteries)

AGREEMENT dated as of ______________, 20__ (the “Grant Date”), between Stratus Properties Inc., a Delaware corporation (the “Company”), and ______________ (the “Participant”).

FOURTH MODIFICATION AND EXTENSION AGREEMENT
Fourth Modification and Extension Agreement • August 12th, 2005 • Stratus Properties Inc • Land subdividers & developers (no cemeteries) • Texas

This FOURTH MODIFICATION AND EXTENSION AGREEMENT (“Agreement”) is made to be effective as of the 30th day of May, 2005 (the “Effective Date”), by and between COMERICA BANK, a Michigan banking corporation, successor by merger to Comerica Bank-Texas (“Lender”), and STRATUS PROPERTIES INC., a Delaware corporation, STRATUS PROPERTIES OPERATING CO., L.P., a Delaware limited partnership, CIRCLE C LAND, L.P., a Texas limited partnership, f/k/a Circle C Land Corp., and AUSTIN 290 PROPERTIES, INC., a Texas corporation (herein individually and collectively referred to as “Borrower”), and OLY STRATUS BARTON CREEK I JOINT VENTURE, a Texas joint venture ("Barton Creek JV").

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