EX-10.2 9 c70733exv10w2.txt JOINDER TO VOTING AGREEMENT EXHIBIT 10.2 As of June 14, 2002 General Growth Properties, Inc. GGP Limited Partnership GGP Acquisition, L.L.C. GGP Acquisition II, L.L.C. 110 North Wacker Drive Chicago, Illinois 60606 Attention: Bernard Freibaum Re: JP REALTY, INC. AND PRICE DEVELOPMENT COMPANY, LIMITED PARTNERSHIP Gentlemen: Reference is made to the letter agreement, dated March 3, 2002 (the "Voting Agreement"), a copy of which is attached hereto as Schedule A, among Mr. John Price and the entities set forth on Schedule I thereto, General Growth Properties, Inc., a Delaware corporation ("General Growth"), GGP Limited Partnership, a Delaware limited partnership ("GGP"), GGP Acquisition, L.L.C., a Delaware limited liability company ("Acquisition"), and GGP Acquisition II, L.L.C., a Maryland limited liability company ("Partnership Acquisition"). Capitalized terms used herein without definition shall have the meanings specified in the Voting Agreement. This letter agreement (the "Agreement") shall serve to confirm the parties' understanding and agreement with respect to the transfer, in the aggregate, of 1,084,508 common units of limited partnership interest in JP Partnership (the "Transferred Partnership Interests") by Boise Mall Investment Company, Ltd., Cache Valley Mall Partnership, Ltd., Pine Ridge Development Company, Ltd., Price Commerce, Ltd., Price East Bay, Ltd., Price Eugene Bailey Company, Ltd., Price Fremont Company, Ltd., Price Glendale Company, Ltd., Price Plaza 800 Company, Ltd., Price Riverside Company, Ltd., Price Rock Springs Company, Ltd., Red Cliffs Mall Investment Company, Ltd. and Tech Park II Company, Ltd. to the undersigned (collectively, the "New Holders"). Each New Holder acknowledges that: (a) such New Holder is the Beneficial Owner of the number of Transferred Partnership Interests set forth opposite such New Holder's name on Schedule B hereto, and (b) General Growth, GGP, Acquisition and Partnership Acquisition are relying upon the representations, warranties, covenants and other agreements of the New Holders made (or deemed made) herein. 1. Agreement to be Bound. Each New Holder hereby agrees to be bound by each and every term and provision of the Voting Agreement with respect to its Transferred Partnership Interests, and acknowledges, therefore, that such New Holder, among other things, will be deemed: (a) a Holder, (b) to have made the representations and warranties set forth in the Voting Agreement, (c) to have granted the proxy set forth in Section 1(b) of the Voting Agreement with respect to all of its Transferred Partnership Interests and (d) to have appointed an agent for service of process as set forth in Section 4(e) of the Voting Agreement. 2. Confirmation of Obligations. To the extent a New Holder is already a party to the Voting Agreement, such New Holder's obligations as a Holder shall not be reduced in any way as a result of this Agreement and such obligations shall be deemed to have been ratified and confirmed by virtue of such New Holder's execution and delivery of this Agreement. 3. Miscellaneous. (a) Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed given if delivered personally, sent by overnight courier (providing proof of delivery) or sent by telecopy (providing confirmation of transmission to the parties), postage prepaid to the parties at the following addresses or telecopy numbers (or at such other addresses or telecopy number as shall be specified by like notice): (i) If to General Growth, GGP, Acquisition or Partnership Acquisition: 110 North Wacker Drive Chicago, Illinois 60606 Telecopy No. (312) 960-5463 Attention: Mr. Bernard Freibaum with a copy to: Neal, Gerber & Eisenberg 2 North LaSalle Street Suite 2200 Chicago, Illinois 60602 Telecopy No. (312) 269-1747 Attention: Marshall E. Eisenberg, Esq. (ii) If to a New Holder, to the address noted on Schedule B hereto. (b) Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall, as to each New Holder, become effective when one or more counterparts have been signed by GGP, General Growth and such New Holder. 2 Please indicate your agreement with the foregoing by signing a copy of this Agreement in the space indicated below. Very truly yours, /s/ John Price ---------------------------------------- John Price FAIRFAX HOLDING, L.L.C. By: /s/ John Price ----------------------------------- John Price By: JPET II Company, Limited Partnership, a Utah partnership By: /s/ John Price ------------------------------ John Price, General Partner /s/ Warren P. King ---------------------------------------- Warren P. King /s/ G. Rex Frazier ---------------------------------------- G. Rex Frazier /s/ Paul K. Mendenhall ---------------------------------------- Paul K. Mendenhall /s/ Tom Mulkey ---------------------------------------- Tom Mulkey /s/ Greg Curtis ---------------------------------------- Greg Curtis /s/ Martin Peterson ---------------------------------------- Martin Peterson 3 /s/ Michael Frei ---------------------------------------- Michael Frei /s/ Carl Olson ---------------------------------------- Carl Olson /s/ Steve Price ---------------------------------------- Steve Price /s/ David Sabey ---------------------------------------- David Sabey /s/ David Fairbourn ---------------------------------------- David Fairbourn /s/ Paul Kelley ---------------------------------------- Paul Kelley /s/ Deidra Price ---------------------------------------- Deidra Price /s/ Jennifer Wallin ---------------------------------------- Jennifer Wallin HALL INVESTMENT COMPANY By: /s/ Dorothy S. Hall ----------------------------------- Name: Dorothy S. Hall Title: General Partner 4 ACCEPTED AS OF THE DATE FIRST ABOVE WRITTEN (WITHOUT WAIVING ANY RIGHTS UNDER THE VOTING AGREEMENT). GENERAL GROWTH PROPERTIES, INC. By: /s/ Bernard Freibaum ----------------------------------- Name: Bernard Freibaum Title: Executive Vice President GGP LIMITED PARTNERSHIP By: GENERAL GROWTH PROPERTIES, INC., General Partner By: /s/ Bernard Freibaum ----------------------------------- Name: Bernard Freibaum Title: Executive Vice President GGP ACQUISITION, L.L.C. By: GGPLP L.L.C., a Delaware limited liability company, Member By: GGP LIMITED PARTNERSHIP, Managing Member By: GENERAL GROWTH PROPERTIES, INC., General Partner By: /s/ Bernard Freibaum ----------------------------------- Name: Bernard Freibaum Title: Executive Vice President 5 GGP ACQUISITION II, L.L.C. By: GGP LIMITED PARTNERSHIP, Member By: GENERAL GROWTH PROPERTIES, INC., General Partner By: /s/ Bernard Freibaum ----------------------------------- Name: Bernard Freibaum Title: Executive Vice President 6 SCHEDULE A VOTING AGREEMENT SCHEDULE B HOLDERS' SHARE AND UNIT OWNERSHIP
------------------------------------------------------------------------------------------------------------------------------- Number of Units of Transferred Partnership Name Notice Address Type of Partner Interests Interest ---- -------------- ------------------------- -------- ------------------------------------------------------------------------------------------------------------------------------- Mr. John Price 35 Century Park-Way OP Units 1,268 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- Fairfax Holding, LLC 35 Century Park-Way OP Units 989,483 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- Warren P. King 35 Century Park-Way OP Units 255 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- G. Rex Frazier 35 Century Park-Way OP Units 28,076 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- Paul K. Mendenhall 35 Century Park-Way OP Units 6,973 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- Tom Mulkey 2139 E 1700 S OP Units 3,191 Salt Lake City, UT 84108 ------------------------------------------------------------------------------------------------------------------------------- Greg Curtis 35 Century Park-Way OP Units 2,601 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- Martin Peterson 35 Century Park-Way OP Units 19,286 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- Michael Frei 2416 Shadowood circle OP Units 8,594 Salt Lake City, UT 84117 ------------------------------------------------------------------------------------------------------------------------------- Carl Olson 22 Lone Hallow OP Units 2,272 Sandy, UT 84092 ------------------------------------------------------------------------------------------------------------------------------- Hall Investment 2660 East Parley's Way OP Units 14,731 Salt Lake City, UT 84109 ------------------------------------------------------------------------------------------------------------------------------- Steve Price 35 Century Park-Way OP Units 2,422 Salt Lake City, UT 84115 ------------------------------------------------------------------------------------------------------------------------------- David Sabey 3121 American Saddler OP Units 1,595 Park City, UT 84060 ------------------------------------------------------------------------------------------------------------------------------- David Fairbourn 1718 E 5600 S OP Units 1,300 Salt Lake City, UT 84121 ------------------------------------------------------------------------------------------------------------------------------- Paul Kelley 287 E Linda Loma Dr OP Units 1,595 Centerville, UT 84014 ------------------------------------------------------------------------------------------------------------------------------- Deidra Price 1710 Avenida Del Mundo #1109 OP Units 433 Coronado, CA 92118 ------------------------------------------------------------------------------------------------------------------------------- Jennifer Wallin 697 Richland Drive OP Units 433 Salt Lake City, UT 84103 -------------------------------------------------------------------------------------------------------------------------------