REGENCY CENTERS CORP
FIRST AMEND. TO THE REGENCY CENTERS CORPORATION 2005 DEFERRED COMPENSATION PLAN
<DOCUMENT>
<TYPE>EX-10.Q(I)
<SEQUENCE>4
<FILENAME>dex10qi.htm
<DESCRIPTION>FIRST AMEND. TO THE REGENCY CENTERS CORPORATION 2005 DEFERRED COMPENSATION PLAN
<TEXT>
<HTML><HEAD>
<TITLE>First Amend. to the Regency Centers Corporation 2005 Deferred Compensation Plan</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10(q)(i) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B><U>FIRST AMENDMENT TO THE REGENCY CENTERS CORPORATION </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>2005 DEFERRED COMPENSATION PLAN
</U></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">This First Amendment (the &#147;<U>First Amendment</U>&#148;) to the Regency Centers Corporation 2005 Deferred Compensation Plan
(&#147;Plan&#148;) is adopted by Regency Centers Corporation, a Florida corporation (the &#147;<U>Company</U>&#148;) as of December __, 2005. Certain capitalized terms used in this First Amendment and not otherwise defined are defined in Plan.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>Background </U></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">WHEREAS, Section&nbsp;409A on the Internal Revenue Code was enacted on October&nbsp;22, 2004 and various interpretational notices and proposed regulations (&#147;Supplemental Guidance&#148;) have been issued by the IRS subsequent to that
date; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, upon careful study of the Supplemental Guidance, the Company has concluded that certain minor changes should be made to
the Plan; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">NOW, THEREFORE, in accordance with the terms of the Plan permitting amendment (contained in Section&nbsp;10 thereof), the
Company amends the Plan as follows: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;2.5 of the Plan is deleted in its entirely and replaced with the following: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT
FACE="Times New Roman" SIZE="2">&#147;2.5. &#147;Change of Control&#148; shall mean the occurrence of any one or more of the following events occurring after December&nbsp;31, 2004: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">(a) an acquisition, in any one transaction or series of transactions, after which any individual, entity or group (within the meaning of
Section&nbsp;13(d)(3) or 14(d)(2) of the Exchange Act) (&#147;Group&#148;), has beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more (or an acquisition of an additional 5% or more if such
individual, entity or group already has beneficial ownership of 35% or more) of either the then outstanding shares of Company common stock or the combined voting power of the then outstanding voting securities of the Company, but excluding, for this
purpose, any such acquisition (i)&nbsp;from the Company, (ii)&nbsp;by the Company or any employee benefit plan (or related trust) of the Company or (iii)&nbsp;by any corporation with respect to which, following such acquisition, all of the then
outstanding shares of common stock and voting securities of such corporation are then beneficially owned, directly or indirectly, in substantially the same proportions, by the beneficial owners of the </FONT>
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%">
<FONT FACE="Times New Roman" SIZE="2">common stock and voting securities of the Company immediately prior to such acquisition; </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">(b) 50% or more of the members of the Board are not Continuing Directors; or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT
FACE="Times New Roman" SIZE="2">(c) the (i)&nbsp;consummation of a stock purchase, reorganization, merger, share exchange, consolidation or similar transaction, in each case, with respect to which the individuals and entities who were the respective
beneficial owners of the common stock and voting securities of the Company immediately prior to such transaction do not, following such transaction, beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding
shares of common stock and voting securities of the corporation resulting from such reorganization, merger or consolidation or (ii)&nbsp;consummation of a transaction or series of transactions pursuant to which any individual entity or group
acquires assets of the Company that have a total gross market value of 40% or more of the total fair market value of all the assets of the Company immediately prior to such acquisition or acquisitions. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">More than one Change of Control may occur during the term of this Plan. Notwithstanding the foregoing, a Change of Control shall not occur to the extent
that it is not described in or under Code Section&nbsp;409A(a)(2)(A)(v).&#148; </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;2.18 of the Plan (defining the term &#147;Good Reason&#148;) is deleted in its entirety and nothing is substituted in its place. </FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">3.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">New Section&nbsp;2.27 is inserted into the Plan and the previously existing Section&nbsp;2.27 is renumbered 2.28 and all succeeding sections are renumbered accordingly:
</FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;2.27 &#147;Specified Participant&#148; means a Participant who is a key employee (as defined in Section&nbsp;416(i) of
the Code without regard to paragraph (5)&nbsp;thereof) of the Company. For this purpose, a Participant shall be deemed to be a &#147;key employee&#148; of the Company during a Plan year if he or she met the requirements of
Section&nbsp;416(i)(1)(A)(i), (ii)&nbsp;or (iii)&nbsp;of the Code (applied in accordance with the regulations thereunder and disregarding Section&nbsp;416(i)(5) of the Code) at any time during the 12-month period ending on September&nbsp;30
immediately preceding such Plan year.&#148; </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;2.29 (formerly Section&nbsp;2.28 prior to the renumbering effected by Section&nbsp;4 of this First Amendment) is amended and restated to read as follows:
</FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;2.28. &#147;Termination of Employment&#148; and similar terms mean (a)&nbsp;for an employee completely ceasing,
voluntarily or involuntarily, to be employed by the Company and all Affiliates (as determined in accordance with Section&nbsp;1.409A-1(h) of the Treasury Regulations), and (b)&nbsp;for a Director, ceasing to serve as such for the Company and all
Affiliates. The Committee may in its discretion determine whether any leave of absence </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%">
<FONT FACE="Times New Roman" SIZE="2">constitutes a Termination of Employment within the meaning of the Plan. In no event shall Termination of Employment be deemed to occur any earlier than the
occurrence of a &#147;separation from service&#148; within the meaning of Treasury Regulation Section&nbsp;1.409A-1(h).&#148; </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">5.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;6.6(d) of the Plan is amended and restated as follows: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT
FACE="Times New Roman" SIZE="2">&#147;(d) Notwithstanding any other Plan provision, no payment to a &#147;Specified Employee&#148; based upon Termination of Employment shall commence earlier than six (6)&nbsp;months after the date of such
individual&#146;s Termination of Employment (or, if earlier, the date of death of the Participant). The commencement of a validly elected payment shall be delayed to the day that is at least six (6)&nbsp;months after such termination.&#148;
</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">6.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;6.8 of the Plan is amended and restated as follows: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman"
SIZE="2">&#147;6.8. <U>Revised Election</U>. A Participant may make a request to the Committee to revise the Distribution Options previously selected with respect to a Plan year to defer a scheduled distribution to a date that is at least five
(5)&nbsp;years after the date previously elected. Unless an earlier date is established by the Committee, the election to defer the distribution must be made before the last business day of the December that is at least one year before the scheduled
distribution. Notwithstanding anything to the contrary in this Plan, (1)&nbsp;an election to defer the distribution must be made at least 12 months prior to the date of the first scheduled payment under the prior distribution election with respect
to such Plan year and (2)&nbsp;the election shall not take effect until at least 12 months after the date on which the election is made. A deferral request under this Section&nbsp;6.8 shall not result in a forfeiture of the Participant&#146;s or
former Participant&#146;s Account.&#148; </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">7.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;7.2 of the Plan is amended and restated as follows: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman"
SIZE="2">&#147;7.2. Vesting of Company Contributions. Unless otherwise determined by the Committee, a Participant shall be vested in the same percentage of the Company discretionary matching contributions and Company discretionary contributions as
he or she is vested (or would be vested if a participant) in Company contributions under the Regency Centers 401(k) Profit Sharing Plan as may be amended from time to time, or any successor plan; provided, however, that, unless otherwise determined
by the Committee prior to the occurrence of such event, Participants shall become 100% vested in all Company discretionary matching contributions and Company discretionary contributions upon the Company&#146;s Insolvency (as determined by the
Committee and only if such vesting would not subject a Participant to taxation, interest and penalties under and by reason of Code Section&nbsp;409A(b)(2)), the Participant&#146;s death or a Change of Control, but only if the Company terminates the
Participant&#146;s employment </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%">
<FONT FACE="Times New Roman" SIZE="2">without Cause within two years following a Change of Control. In its discretion, the Committee may provide for accelerated vesting of any unvested Company
discretionary matching contributions and/or Company discretionary contributions upon the Disability or Retirement of a Participant, provided that in the absence of any express Committee provision of accelerated vesting in the event of Disability or
Retirement of a Participant, no accelerated vesting shall occur upon those events notwithstanding anything else herein or in the Regency Centers 401K Profit Sharing Plan. Any such acceleration need not be uniform among all Participants. Anything
herein to the contrary notwithstanding, a Participant shall forfeit all vested and unvested Company discretionary matching contributions and Company discretionary contributions if the Participant&#146;s employment is terminated for Cause.&#148;
</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">8.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;8 of the Plan is amended by adding the following at the end thereof: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT
FACE="Times New Roman" SIZE="2">&#147;8.7 <U>Suspension of Stock Option Gain Share Deferral Election</U> Notwithstanding anything herein or elsewhere to the contrary, no Stock Option Gain Share Deferral Elections amounts may be made after
December&nbsp;31, 2005 under this Plan.&#148; </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">9.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">In all other respects, the Plan is confirmed and ratified. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">IN WITNESS WHEREOF, this First Amendment is made this __th day of December, 2005 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">REGENCY CENTERS CORPORATION</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
