<SUBMISSION>
<ACCESSION-NUMBER>0000910612-06-000195
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20061107
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20061107
<DATE-OF-FILING-DATE-CHANGE>20061107
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CBL & ASSOCIATES PROPERTIES INC
<CIK>0000910612
<ASSIGNED-SIC>6798
<IRS-NUMBER>621545718
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-12494
<FILM-NUMBER>061194245
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2030 HAMILTON PLACE BVLD, SUITE 500
<STREET2>CBL CENTER
<CITY>CHATTANOOGA
<STATE>TN
<ZIP>37421
<PHONE>4238550001
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2030 HAMILTON PLACE BVLD, SUITE 500
<STREET2>CBL CENTER
<CITY>CHATTANOOGA
<STATE>TN
<ZIP>37421
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<DESCRIPTION>FORM 8-K - COMPENSATION COMMITTEE ACTIONS
<TEXT>
<HTML>
<HEAD>
<TITLE> </TITLE>
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<BODY bgcolor="#ffffff" style='font-family:"Times New Roman"'>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C.</font></b><font size=2>&nbsp;</font><b><font size=2> 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM 8-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CURRENT REPORT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>PURSUANT TO SECTION 13 OR 15(d) OF THE</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE ACT OF 1934</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of report (Date of earliest event reported):&nbsp;</font><b><font size=2> November 1, 2006</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=5>CBL &amp; ASSOCIATES PROPERTIES, INC.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact Name of Registrant as Specified in its Charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="720" style=' border-collapse:collapse'>
    <tr>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><b><font size=2>Delaware</font></b></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="230" valign=top >
            <p  align=center style='text-align:center'><b><font size=2>1-12494</font></b></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><b><font size=2>62-154718</font></b></p> </td> </tr>
    <tr>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=2>(State or Other Jurisdiction of</font></p>
<p  align=center style='text-align:center'><font size=2>Incorporation)</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="230" valign=top >
            <p  align=center style='text-align:center'><font size=2>(Commission File Number)</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=2>(I.R.S. Employer Identification No.)</font></p> </td> </tr>
    <tr>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=2>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="230" valign=top >
            <p  align=center style='text-align:center'><font size=2>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=2>&nbsp;</font></p> </td> </tr>
    <tr>
        <td  colspan="5" valign=top >
            <p  align=center style='text-align:center'><b><font size=2>Suite 500, 2030 Hamilton Place Blvd, Chattanooga, TN 37421</font></b></p> </td> </tr>
    <tr>
        <td  colspan="5" valign=top >
            <p  align=center style='text-align:center'><font size=2>(Address of principal executive office, including zip code)</font></p> </td> </tr>
    <tr>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="230" valign=top >
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td  colspan="5" valign=top >
            <p  align=center style='text-align:center'><b><font size=2>(423) 855-0001</font></b></p> </td> </tr>
    <tr>
        <td  colspan="5" valign=top >
            <p  align=center style='text-align:center'><font size=2>(Registrant&#146;s telephone number, including area code)</font></p> </td> </tr>
    <tr>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=2>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="230" valign=top >
            <p  align=center style='text-align:center'><font size=2>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p ><font size=2>&nbsp;</font></p> </td>
        <td width="231" valign=top >
            <p  align=center style='text-align:center'><font size=2>&nbsp;</font></p> </td> </tr>
    <tr>
        <td  colspan="5" valign=top >
            <p  align=center style='text-align:center'><B><font SIZE=2>N/A</font></B></p> </td> </tr>
    <tr>
        <td  colspan="5" valign=top >
            <p  align=center style='text-align:center'><font size=2>(Former name, former address and former fiscal year, if changed since last report)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.05in;text-align:left;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font size=2>[   ]</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font size=2>[   ]</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font size=2>[   ]</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font face="Arial" size=2>[   ]</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



<table border="0" cellspacing=0 cellpadding=0 width="364" style=' border-collapse:collapse'>
    <tr>
        <td width="70" nowrap valign=top >
            <p ><b><font size=2>Item 1.01  </font></b></p> </td>
        <td width="294" nowrap valign=top >
            <p ><b><font size=2>Entry Into a Material Definitive Agreement</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.67in; text-indent:-0.67in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>At a meeting held on November 1, 2006, the Compensation Committee of the Board of Directors of CBL &amp; Associates Properties, Inc. (the &#147;Company&#148;) approved the following actions affecting the compensation of our executive officers:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.67in; text-indent:-0.67in;text-align:left;'><u><font size=2>2007 Base Salaries for Named Executive Officers</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>The Compensation Committee approved 2007 Base Salary levels for the Company&#146;s officers and members of senior management, including setting the following 2007 Base Salary levels for those individuals who qualify as &#147;named executive officers&#148; (pursuant to Item 402(a)(3) of Securities and Exchange Commission Regulation S-K):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table width="600" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
    <tr>
        <td width="228" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><u><b><font size=2>Name</font></b></u><b><font size=2>:</font></b></p> </td>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><u><b><font size=2>Title</font></b></u><b><font size=2>:</font></b></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><u><b><font size=2>2007 Base Salary</font></b></u></p> </td> </tr>
    <tr>
        <td width="228" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  style='margin-top:6.0pt;text-indent:.5in'><font size=2>Charles B. Lebovitz</font></p> </td>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  style='margin-top:6.0pt'><font size=2>Chairman of the Board and</font></p>
<p ><font size=2>Chief Executive Officer</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>$575,566</font></p> </td> </tr>
    <tr>
        <td width="228" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  style='margin-top:6.0pt;text-indent:.5in'><font size=2>John N. Foy</font></p> </td>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  style='margin-top:6.0pt'><font size=2>Vice Chairman of the Board, Chief Financial Officer and Treasurer</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>$506,320</font></p> </td> </tr>
    <tr style='height:30.15pt'>
        <td width="228" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:30.15pt'>
            <p  style='margin-top:6.0pt;text-indent:.5in'><font size=2>Stephen D. Lebovitz</font></p> </td>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:30.15pt'>
            <p  style='margin-top:6.0pt'><font size=2>Director, President and Secretary</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:30.15pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>$500,000</font></p> </td> </tr>
    <tr style='height:30.15pt'>
        <td width="228" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:30.15pt'>
            <p  style='margin-top:6.0pt;text-indent:.5in'><font size=2>Augustus N. Stephas</font></p> </td>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:30.15pt'>
            <p ><font size=2>Senior Vice President &#150; Accounting and Controller</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:30.15pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>$476,600</font></p> </td> </tr>
    <tr style='height:31.5pt'>
        <td width="228" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:31.5pt'>
            <p  style='margin-top:6.0pt;text-indent:.5in'><font size=2>Eric P. Snyder</font></p> </td>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:31.5pt'>
            <p ><font size=2>Senior Vive President and Director of Corporate Leasing</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:31.5pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>$466,000</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>In the case of Charles B. Lebovitz, John N. Foy and Stephen D. Lebovitz, these base salaries were approved to take effect as of January 1, 2007.  In the case of Mr. Stephas, the effective date is February 28, 2007, and in the case of Mr. Snyder, the effective date is September 15, 2007.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>Each of Charles B. Lebovitz, John N. Foy and Stephen D. Lebovitz are parties to deferred compensation agreements issued under the Company&#146;s Amended and Restated Stock Incentive Plan, as amended (the &#147;Stock Incentive Plan&#148;), pursuant to which the amounts representing annual increases over their base salaries since 1995 are paid in quarterly installments in the form of the Company&#146;s Common Stock rather than cash.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.67in; text-indent:-0.67in;text-align:left;'><u><font size=2>Approval of 2007 Executive Bonus Opportunities</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>The Compensation Committee also approved the criteria or matters pursuant to which designated Company executives will be eligible to earn bonuses for the 2007 fiscal year.  The amount of the bonus paid to each executive will be based upon the successful continuation and/or completion of development, financing, leasing and re-leasing, temporary leasing, sponsorships, management, accounting, marketing, remodelings, expansions, peripheral property sales, acquisitions and joint ventures with respect to the Company and its properties identified by the Compensation Committee as being within each such executive&#146;s areas of responsibility.  Three of the executives covered by these bonus criteria are named executive officers of the Company.  The potential bonuses that the Compensation Committee provided that such named executive officers could earn pursuant to the above-stated criteria or
matters are as follows:  John N. Foy &#150; $725,000; Stephen D. Lebovitz &#150; $725,000; and Eric P. Snyder &#150; $350,000.  The actual amount of any bonus payouts will be dependent on the successful continuation or completion of the projects or matters designated by the Compensation Committee for each such named executive officer (as </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>well as the officer&#146;s continued employment with the Company), although the Compensation Committee also retains the discretion to increase, decrease or eliminate a bonus payment to any officer in accordance with its ultimate evaluation of his performance during the year.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.57in;text-align:left;'><font size=2>For the Company&#146;s other two named executive officers, Charles B. Lebovitz and Augustus N. Stephas, the Compensation Committee allocated up to $1,150,000 of funds to be available as bonuses that could be earned by such officers for 2007, consisting of specified maximum bonuses that could be earned by each of these two named executive officers totaling $1,000,000 plus the opportunity to share (together with one other executive officer) in an unallocated discretionary bonus pool of up to $150,000.  The potential bonus payouts set by the Compensation Committee for Mr. Lebovitz and Mr. Stephas pursuant to this allocation are as follows: Charles B. Lebovitz - $725,000 plus any additional participation in the unallocated $150,000 pool, and Augustus N. Stephas - $275,000 plus any additional participation in the unallocated $150,000 pool.  The actual bonus payments to these two named executive
officers, including the amount (if any) to be paid out of the $150,000 unallocated pool, will be determined during the fourth quarter of 2007 by the Compensation Committee, based upon its evaluation of such officer&#146;s performance and contributions to the Company&#146;s overall performance during the year.  As in the case of the bonuses described above for the other named executive officers, the ultimate amount of any bonus paid to these two officers will be determined on a discretionary basis by the Compensation Committee, which retains the discretion to increase, decrease or eliminate a bonus payment to any officer prior to the time when it is paid, and is dependent on such officer&#146;s continued employment with the Company.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>In the case of both of the bonus mechanisms described above for 2007, each officer who receives a bonus will have the option of electing whether to have his bonus paid in cash or in shares of the Company&#146;s Common Stock pursuant to the terms of the Stock Incentive Plan.  The number of shares issued with respect to any bonus that an officer elects to receive in the Company&#146;s Common Stock will be determined based on the market value of the Common Stock on the date when such bonus becomes payable.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="306" style=' border-collapse:collapse'>
    <tr>
        <td width="71" nowrap valign=top >
            <p ><b><font size=2>Item 9.01  </font></b></p> </td>
        <td width="235" nowrap valign=top >
            <p ><b><font size=2>Financial Statements and Exhibits</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Financial Statements of Businesses Acquired</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>Not applicable</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font size=2>(b)</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Pro Forma Financial Information</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>Not applicable</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="24" valign=top >
            <p ><font size=2>(c)</font></p> </td>
        <td  valign=top >
            <p ><font size=2>Exhibits</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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        <td width="144" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><u><b><font size=2>Exhibit Number</font></b></u><u></u></p> </td>
        <td width="499" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p ><u><b><font size=2>Description</font></b></u><u></u></p> </td> </tr>
    <tr>
        <td width="144" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>10.7.11</font></p> </td>
        <td width="499" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  style='margin-top:6.0pt'><font size=2>Summary Description of November 1, 2006 Compensation Committee Action Approving 2007 Executive Base Salary Levels</font></p> </td> </tr>
    <tr>
        <td width="144" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='margin-top:6.0pt;text-align:center'><font size=2>10.7.12</font></p> </td>
        <td width="499" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  style='margin-top:6.0pt'><font size=2>Summary Description of November 1, 2006 Compensation Committee Action Approving 2007 Executive Bonus Opportunities</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURE</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.2in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p ><font size=2>CBL &amp; ASSOCIATES PROPERTIES, INC.</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p ><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p ><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
<p  align=center style='text-align:center; padding:0in'><font size=2>/s/ John N. Foy</font></p> </div> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><font size=2>John N. Foy</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><font size=2>Vice Chairman,</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><font size=2>Chief Financial Officer and Treasurer</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="362" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p  align=center style='text-align:center'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Date: November 7, 2006</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<TYPE>EX-10
<SEQUENCE>3
<FILENAME>exhibit10711.htm
<DESCRIPTION>EXHIBIT 10.7.11
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b><font size=2>Exhibit 10.7.11</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Summary Description of November 1, 2006 Compensation Committee Action</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Setting 2007 Executive Base Salary Levels </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.54in;text-align:left;'><font size=2>At a meeting held on November 1, 2006, the Compensation Committee of the Board of Directors of CBL &amp; Associates Properties, Inc. (the &#147;Company&#148;) approved 2007 Base Salary levels for the Company&#146;s officers and members of senior management, including setting the following 2007 Base Salary levels for those individuals who qualify as &#147;named executive officers&#148; (pursuant to Item 402(a)(3) of Securities and Exchange Commission Regulation S-K):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table width="600" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
    <tr>
        <td width="216" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Name</font></b></u><b><font size=2>:</font></b></p> </td>
        <td width="218" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Title</font></b></u><b><font size=2>:</font></b></p> </td>
        <td width="157" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>2007 Base Salary</font></b></u></p> </td> </tr>
    <tr>
        <td width="216" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Charles B. Lebovitz</font></p> </td>
        <td width="218" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Chairman of the Board and</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chief Executive Officer</font></p> </td>
        <td width="157" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$575,566</font></p> </td> </tr>
    <tr>
        <td width="216" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>John N. Foy</font></p> </td>
        <td width="218" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Vice Chairman of the Board, Chief Financial Officer and Treasurer</font></p> </td>
        <td width="157" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$506,320</font></p> </td> </tr>
    <tr style='height:23.85pt'>
        <td width="216" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:23.85pt'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Stephen D. Lebovitz</font></p> </td>
        <td width="218" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:23.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Director, President and Secretary</font></p> </td>
        <td width="157" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:23.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$500,000</font></p> </td> </tr>
    <tr style='height:.45in'>
        <td width="216" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:.45in'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Augustus N. Stephas</font></p> </td>
        <td width="218" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:.45in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Senior Vice President &#150; Accounting and Controller</font></p> </td>
        <td width="157" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:.45in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$476,600</font></p> </td> </tr>
    <tr>
        <td width="216" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Eric P. Snyder</font></p> </td>
        <td width="218" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Senior Vive President and Director of Corporate Leasing</font></p> </td>
        <td width="157" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$466,000</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.54in;text-align:left;'><font size=2>In the case of Charles B. Lebovitz, John N. Foy and Stephen D. Lebovitz, these base salaries were approved to take effect as of January 1, 2007.  In the case of Mr. Stephas, the effective date is February 28, 2007, and in the case of Mr. Snyder, the effective date is September 15, 2007.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.54in;text-align:left;'><font size=2>Each of Charles B. Lebovitz, John N. Foy and Stephen D. Lebovitz are parties to deferred compensation agreements issued under the Company&#146;s Amended and Restated Stock Incentive Plan, as amended (the &#147;Stock Incentive Plan&#148;), pursuant to which the amounts representing annual increases over their base salaries since 1995 are paid in quarterly installments in the form of the Company&#146;s Common Stock rather than cash.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<TYPE>EX-10
<SEQUENCE>4
<FILENAME>exhibit10712.htm
<DESCRIPTION>EXHIBIT 10.7.12
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b><font size=2>Exhibit 10.7.12</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Summary Description of November 1, 2006 Compensation Committee Action</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Approving 2007 Executive Bonus Opportunities</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.54in;text-align:left;'><font size=2>At a meeting held on November 1, 2006, the Compensation Committee of the Board of Directors of CBL &amp; Associates Properties, Inc. (the &#147;Company&#148;) approved the criteria or matters pursuant to which designated Company executives will be eligible to earn bonuses for the 2007 fiscal year.  The amount of the bonus paid to each executive will be based upon the successful continuation and/or completion of development, financing, leasing and re-leasing, temporary leasing, sponsorships, management, accounting, marketing, remodelings, expansions, peripheral property sales, acquisitions and joint ventures with respect to the Company and its properties identified by the Compensation Committee as being within each such executive&#146;s areas of responsibility.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.54in;text-align:left;'><font size=2>Three of the executives covered by these bonus criteria qualify as &#147;named executive officers&#148; (pursuant to Item 402(a)(3) of Securities and Exchange Commission Regulation S-K).  The potential bonuses that the Compensation Committee provided that such named executive officers could earn pursuant to the above-stated criteria or matters are as follows:  John N. Foy (Vice Chairman of the Board, Chief Financial Officer and Treasurer) &#150; $725,000; Stephen D. Lebovitz (Director, President and Secretary) &#150; $725,000; and Eric P. Snyder (Senior Vice President and Director of Corporate Leasing) &#150; $350,000.  The actual amount of any bonus payouts will be dependent on the successful continuation or completion of the projects or matters designated by the Compensation Committee for each such named executive officer (as well as the officer&#146;s continued employment with the
Company), although the Compensation Committee also retains the discretion to increase, decrease or eliminate a bonus payment to any officer in accordance with its ultimate evaluation of his performance during the year.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:left;'><font size=2>For the Company&#146;s other two named executive officers, Charles B. Lebovitz (Chairman of the Board and Chief Executive Officer) and Augustus N. Stephas (Senior Vice President &#150; Accounting and Controller), the Compensation Committee allocated up to $1,150,000 of funds to be available as bonuses that could be earned by such officers for 2007, consisting of specified maximum bonuses that could be earned by each of these two named executive officers totaling $1,000,000 plus the opportunity to share (together with one other executive officer) in an unallocated discretionary bonus pool of up to $150,000.  The potential bonus payouts set by the Compensation Committee for Mr. Lebovitz and Mr. Stephas pursuant to this allocation were as follows: Charles B. Lebovitz - $725,000 plus any additional participation in the unallocated $150,000 pool, and Augustus N. Stephas - $275,000 plus any
additional participation in the unallocated $150,000 pool.  The actual bonus payments to these two named executive officers, including the amount (if any) to be paid out of the $150,000 unallocated pool, will be determined during the fourth quarter of 2007 by the Compensation Committee, based upon its evaluation of such officer&#146;s performance and contributions to the Company&#146;s overall performance during the year.  As in the case of the bonuses described above for the other named executive officers, the ultimate amount of any bonus paid to these two officers will be determined on a discretionary basis by the Compensation Committee, which retains the discretion to increase, decrease or eliminate a bonus payment to any officer prior to the time when it is paid, and is dependent on such officer&#146;s continued employment with the Company.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.54in;text-align:left;'><font size=2>In the case of both of the bonus mechanisms described above for 2007, each officer who receives a bonus will have the option of electing whether to have his bonus paid in cash or in shares of the Company&#146;s Common Stock pursuant to the terms of the Stock Incentive Plan.  The number of shares issued with respect to any bonus that an officer elects to receive in the Company&#146;s Common Stock will be determined based on the market value of the Common Stock on the date when such bonus becomes payable.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>


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