EX-10.18



 Exhibit 10.18 

RESTRICTED STOCK AWARD AGREEMENT 

(2016 Stock Incentive Plan) 

THIS RESTRICTED STOCK AGREEMENT (the “Agreement”), is made effective as of the date set forth on the
signature page (the “Signature Page”) attached hereto (the “Date of Grant”), between Blackstone Mortgage Trust, Inc., a Maryland corporation (the “Company”) and the participant identified on the
Signature Page attached hereto (the “Participant”). 
 RECITALS: 

WHEREAS, the Company has adopted the Blackstone Mortgage Trust, Inc. 2016 Stock Incentive Plan (the “Plan”),
the terms of which Plan are incorporated herein by reference and made a part of this Agreement, and capitalized terms not otherwise defined herein shall have the same meanings as in the Plan; and 

WHEREAS, the Company has determined that it would be in the best interests of the Company and its stockholders to grant the
restricted stock award provided for herein to the Participant pursuant to the Plan and the terms set forth herein; 
 NOW
THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: 
 1. Grant of
Restricted Stock. Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Participant the number of shares of Restricted Stock appearing on the
signature page attached hereto (the “Award”). 
 2. Vesting of Restricted Stock. 

(a) Vesting Schedule. The Award shall initially be unvested and shall vest as follows: provided that the Participant
has not undergone a Termination (and a Manager Termination Event has not occurred, if the Participant is a Manager Employee), the Award shall vest (A) with respect to one-third (1/3rd) of the Award on the first anniversary of the Date of Grant and (B) with respect to the remaining two-thirds (2/3rds) in substantially equal quarterly installments over the two (2) year period following the first anniversary of the Date of Grant; provided that the exact amounts and dates of vesting
installments shall be determined by the Company. 
 (b) Termination. Upon any Manager Termination Event, or if the
Participant undergoes a Termination, this Award shall be treated in accordance with the Plan. 
 3. Book Entry;
Certificates. The Company shall recognize the Participant’s ownership through uncertificated book entry. If elected by the Company, certificates evidencing the Common Stock granted hereunder may be issued by the Company and any such
certificates shall be registered in the Participant’s name on the stock transfer books of the Company promptly after the date hereof, but shall remain in the physical custody of the Company or its designee at all times prior to the later of
(x) the vesting of the Award pursuant to this Agreement and (y) the expiration of any transfer restrictions set forth in this Agreement or otherwise applicable to the Common Stock subject to the Award. As soon as practicable following such
time, any certificates for the Common Stock subject to the Award shall be issued to the Participant or to the Participant’s legal guardian or representative along with the stock powers relating thereto. No certificates shall be issued for
fractional shares. To the extent required by the Company, the Participant shall deliver to the Company a stock power, duly endorsed in blank, relating to any portion of the Award that has not previously vested. However, the Company shall not be
liable to the Participant for damages relating to any delays in issuing the certificates (if any) to the Participant, any loss by the Participant of the certificates, or any mistakes or errors in the issuance of the certificates or in the
certificates themselves. 
 4. Rights as a Stockholder. The Participant shall be the record owner of the shares of
Restricted Stock until or unless such shares are forfeited pursuant to the terms of this Agreement, and as record owner shall be entitled to all rights of a common stockholder of the Company, including, without limitation, participating in gains and
losses of the Company, voting rights and rights to dividends with respect to shares of Restricted Stock; provided that shares of Restricted Stock shall be subject to the limitations on transfer and encumbrance set forth in Section 7.








 5. Restrictions. Any Common Stock issued to the Participant pursuant to
the Award shall be subject to such stop transfer orders and other restrictions as the Committee (or its designee) may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any
stock exchange upon which such Common Stock are listed and any applicable U.S. or non-U.S. federal, state or local laws, and the Committee (or its designee) may cause a notation or notations to be entered into
the books and records of the Company to make appropriate reference to such restrictions. 
 6. No Right to Continued
Employment or Service. Neither the Plan nor this Agreement nor the granting of the Award hereunder shall impose any obligation on the Company or any Affiliate to continue the employment or engagement of the Participant. Further, the Company or
any Affiliate (as applicable) may at any time terminate the Participant, free from any liability or claim under the Plan or this Agreement, except as otherwise expressly provided herein. 

7. Transferability. 

(a) Shares of Restricted Stock may not, at any time prior to becoming vested pursuant to the terms of this Agreement, be
Transferred and any such purported Transfer shall be void and unenforceable against the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale,
transfer or encumbrance. 
 (b) “Transfer” shall mean (in either the noun or the verb form, including with
respect to the verb form, all conjugations thereof within their correlative meanings) with respect to any security, the gift, sale, assignment, transfer, pledge, hypothecation or other disposition (whether for or without consideration, whether
directly or indirectly, and whether voluntary, involuntary or by operation of law) of such security or any interest therein. 

8. Securities Laws; Cooperation. Upon the vesting of the Award (or any portion thereof), the Participant will make or
enter into such written representations, warranties and agreements as the Company may request in order to comply with applicable securities laws, the Plan or with this Agreement. 

9. Notices. Any notice necessary under this Agreement shall be addressed to the Company in care of its Secretary at the
principal executive office of the Company and to the Participant at the address appearing in the personnel records of the Company or its Affiliates for such Participant or to either party at such other address as either party hereto may hereafter
designate in writing to the other. Any such notice shall be deemed effective upon receipt thereof by the addressee. 
 10.
Choice of Law. This Grant shall be governed by and construed in accordance with the laws of the state of Maryland without regard to conflicts of laws. 

11. Restricted Stock Subject to Plan. By entering into this Agreement, the Participant agrees and acknowledges that the
Participant has received and read a copy of the Plan. Shares of Restricted Stock granted hereunder are subject to the Plan. The terms and provisions of the Plan, as it may be amended from time to time, are hereby incorporated herein by reference. In
the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. 

12.    Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 [Signatures on next page.]








 IN WITNESS WHEREOF, the parties have caused this Agreement to be effective as of
the date set forth on the Company’s signature page. 
  

	
	Participant
	
	  

	 Name:

	
	Blackstone Mortgage Trust, Inc.
	
	  

	 Name:

	 Title:

	
	
Dated: