0001104659-07-080381 Sample Contracts

SAR Award Agreement
Sar Award Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

You (the “Participant”) are hereby awarded Share Appreciation Rights subject to the terms and conditions set forth in this agreement (the “Award Agreement” or “Award”) and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (“Plan”). A copy of the Plan is attached as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, before exercising this Award. This Award is conditioned on your execution of this Award Agreement.

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Deferral Election Agreement for Deferred Share Units
Deferral Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

DEFERRAL AGREEMENT (the “Deferral Agreement”), made this day of , , by and between (the “Participant”), and Capital Trust, Inc. (the “Company”).

Restricted Share Unit Award Agreement
Restricted Share Unit Award Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

You are hereby awarded Restricted Share Units (the “RSUs”) subject to the terms and conditions set forth in this Restricted Share Unit Award Agreement (“Award Agreement”), and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (the “Plan”), which is attached as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, before exercising this Award. This Award is conditioned on your execution of this Award Agreement.

Stock Option Award Agreement
Stock Option Award Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

You are hereby awarded the following stock option (the “Option”) to purchase Shares of Capital Trust, Inc. (the “Company”), subject to the terms and conditions set forth in this Stock Option Award Agreement (the “Award Agreement”) and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (the “Plan”), which is attached hereto as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, before exercising this Option. This Option is conditioned on your execution of this Award Agreement.

Restricted Share Award Agreement
Restricted Share Award Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

You (the “Participant”) are hereby awarded Restricted Shares subject to the terms and conditions set forth in this agreement (the “Award Agreement” or “Award”) and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (“Plan”). A copy of the Plan is attached as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, before exercising this Award. This Award is conditioned on your execution of this Award Agreement.

250,000,000 MASTER REPURCHASE AGREEMENT Dated as of July 30, 2007 between CAPITAL TRUST, INC. as Seller, and CITIGROUP GLOBAL MARKETS INC. as Securities Buyer and CITIGROUP FINANCIAL PRODUCTS INC. as Loan Buyer
Master Repurchase Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

MASTER REPURCHASE AGREEMENT, dated as of July 30, 2007, by and among CAPITAL TRUST, INC., a Maryland corporation (the “Seller”) and CITIGROUP GLOBAL MARKETS, INC., a Delaware corporation (the “Securities Buyer”), and CITIGROUP FINANCIAL PRODUCTS INC., a Delaware corporation (the “Loan Buyer”; each of Loan Buyer and Securities Buyer, a “Buyer” and collectively, the “Buyers”).

Performance Unit and Performance Share Award Agreement
Capital Trust Inc • November 7th, 2007 • Real estate investment trusts • New York

You are hereby awarded Performance Units and Performance Shares subject to the terms and conditions set forth in this agreement (“Award Agreement” or “Award”), and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (the “Plan”), which is attached as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, in order to fully understand the implications of this Award, including your tax alternatives and their consequences.

CAPITAL TRUST, INC. INCENTIVE PLAN
Restricted Shares Award Agreement • November 7th, 2007 • Capital Trust Inc • Real estate investment trusts • New York

You (the “Participant”) are hereby awarded Restricted Shares and Performance Units subject to the terms and conditions set forth in this agreement (the “Award”) and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (“Plan”), which is attached hereto as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, in order to assure that you fully understand the terms, conditions, and financial implications of this Award.

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