EX-10.6




 Exhibit 10.6 

PROLOGIS, INC. 
 DEFERRED
COMPENSATION PLAN 
 LTIP UNIT AWARD AGREEMENT 

Name of the Grantee:
[                        ] (the “Grantee”) 

No. of LTIP Units Awarded:
[                        ] 

Grant Effective Date: [            ] 

RECITALS 

A.    The Grantee is an employee of Prologis, Inc. (the “Company”) or a “Related
Company” as defined in the Prologis, Inc. 2020 Long-Term Incentive Plan (as amended and supplemented from time to time, the “Plan”) and provides services to Prologis, L.P., through which the Company conducts
substantially all of its operations (the “Partnership”). 
 B.     Pursuant to the
Limited Partnership Agreement of the Partnership (as amended and supplemented from time to time, the “Partnership Agreement”), the Company, as general partner of the Partnership, hereby grants to the Grantee a Full Value
Award (as defined in the Plan, referred to herein as an “Award”) in the form of, and by causing the Partnership to issue to the Grantee, the number of LTIP Units (as defined in the Partnership Agreement) set forth above (the
“Award LTIP Units”) having the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption and conversion set forth in this LTIP Unit Award Agreement (the
“Agreement”) and in the Partnership Agreement. 
 C.    The Compensation Committee
(the “Committee”) of the Board of Directors of the Company has provided the Grantee with the opportunity to elect to receive all or a portion of his or her account balances under any of the Amended and Restated Prologis, Inc.
Nonqualified Deferred Compensation Plan, the Amended and Restated Prologis, Inc. 2011 Notional Account Deferred Compensation Plan and the Second Amended and Restated Prologis 2005 Nonqualified Deferred Compensation Plan (each, a “Deferred
Compensation Plan” and together, the “Deferred Compensation Plans”) in the form of LTIP Units (the “Distribution Election”). 

D.    The Grantee has made a Distribution Election and is entitled to receive a distribution from a Deferred Compensation
Plan. 
 E.    Upon the close of business on the Grant Effective Date pursuant to this Agreement, the Grantee shall
receive the number of LTIP Units specified above, subject to the restrictions and conditions set forth herein, in the Plan, and in the Partnership Agreement. 

NOW, THEREFORE, the Company, the Partnership and the Grantee agree as follows: 

1.    Effectiveness of Award. As of the Grant Effective Date, the Grantee shall be admitted as a partner of
the Partnership with beneficial ownership of the Award LTIP Units by (i) signing and delivering to the Partnership a copy of this Agreement, (ii) signing, as a Limited 











 
Partner, and delivering to the Partnership a counterpart signature page to the Partnership Agreement (attached hereto as Exhibit A), and (iii) making a Capital Contribution (as
defined in the Partnership Agreement) to the Partnership, in cash, in the amount of $0.01 per Award LTIP Unit (the “Per Unit Contribution”). Upon satisfaction of the foregoing requirements and execution of this Agreement by the
Grantee, the Partnership and the Company, the books and records of the Partnership maintained by the General Partner shall reflect the issuance to the Grantee of the Award LTIP Units. Thereupon, the Grantee shall have all the rights of a Limited
Partner (as defined in the Partnership Agreement) of the Partnership with respect to a number of LTIP Units equal to the number of Award LTIP Units, subject, however, to the restrictions and conditions specified in Section 2 below and elsewhere
herein. The LTIP Units are uncertificated securities of the Partnership and upon the Grantee’s request the General Partner shall confirm the number of LTIP Units issued to the Grantee. 

2.    Vesting of Award LTIP Units. The Award LTIP Units are fully vested upon issuance. Notwithstanding
anything to the contrary set forth in this Agreement, this Award is subject to the Recoupment Policy set forth in the Prologis Governance Guidelines as in effect from time to time, any other clawback or recoupment policies that are adopted by the
Company, and the provisions of the Plan relating to recoupment, misconduct and good standing. 

3.    Distributions. The Grantee shall be entitled to receive distributions with respect to the Award LTIP
Units to the extent provided for in the Partnership Agreement as follows: 
 (a)     The Award LTIP Units are hereby
designated as regular “LTIP Units.” 
 (b)    The LTIP Unit Distribution Participation Date (as defined in the
Partnership Agreement) with respect to the Award LTIP Units is the Grant Effective Date. 
 (c)    All distributions
paid with respect to the Award LTIP Units shall be fully vested and non-forfeitable when paid. 

4.    Rights with Respect to Award LTIP Units. Without duplication with the provisions of Section 4 of
the Plan or Section 1.14 of Exhibit K to the Partnership Agreement, if (i) the Company shall at any time be involved in a merger, consolidation, dissolution, liquidation, reorganization, exchange of shares, sale of all or
substantially all of the assets or capital stock of the Company or a transaction similar thereto, (ii) any stock dividend, stock split, reverse stock split, stock combination, reclassification, recapitalization, or other similar change in the
capital structure of the Company, or any distribution to holders of Stock (as defined in the Plan), other than ordinary cash dividends, shall occur, or (iii) any other event shall occur which, in each case in the judgment of the Committee,
necessitates action by way of adjusting the terms of this Award, then and in that event, the Committee may take such action, if any, as it determines to be reasonably required to maintain the Grantee’s rights hereunder so that they are
substantially proportionate to the rights existing under this Agreement prior to such event, including, but not limited to, substitution of other awards under the Plan. 

5.    Incorporation of the Plan; Interpretation by Committee. This Agreement is subject in all respects to
the terms, conditions, limitations and definitions contained in the Plan. 

  
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In the event of any discrepancy or inconsistency between this Agreement and the Plan, the terms and conditions of the Plan shall control. The Committee may make such rules and regulations and
establish such procedures for the administration of this Agreement as it deems appropriate. Without limiting the generality of the foregoing, the Committee may interpret the Plan and this Agreement, with such interpretations to be conclusive and
binding on all persons and otherwise accorded the maximum deference permitted by law. In the event of any dispute or disagreement as to interpretation of the Plan or this Agreement or of any rule, regulation or procedure, or as to any question,
right or obligation arising from or related to the Plan or this Agreement, the decision of the Committee shall be final and binding upon all persons. 

6.    Restrictions on Transfer. 

(a)    The Award LTIP Units granted hereunder and the common units of the Partnership into which such Award LTIP Units may
be converted (the “Award Common Units”) may be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of, or encumbered, whether voluntarily or by operation of law (each such action a
“Transfer”) in accordance with Section 6.5 of the Plan, so long as the Transferee agrees in writing with the Company and the Partnership to be bound by all the terms and conditions of this Agreement and the Partnership
Agreement and that subsequent Transfers shall be prohibited except those in accordance with this Section 6. 
 (b)
    The right to Redemption (as defined in the Partnership Agreement) may be exercised with respect to Award Common Units, and Award Common Units may be Transferred to the Partnership or the Company in connection with the
exercise thereof, in accordance with and to the extent otherwise permitted by the terms of the Partnership Agreement. Notwithstanding the foregoing, without the consent of the General Partner, the right to Redemption shall not be exercisable with
respect to any Award Common Units until two (2) years after the Grant Effective Date; provided however, that the foregoing restriction shall not apply (i) if the right of Redemption is exercised in connection with a Change in Control (as
defined in the Plan) or (ii) in connection with an LTIP Unit Forced Conversion in connection with a Capital Transaction as described in the Partnership Agreement. 

(c)    Additionally, all Transfers of Award LTIP Units or Award Common Units must be in compliance with all applicable
securities laws (including, without limitation, the Securities Act (as defined in the Partnership Agreement)) and the applicable terms and conditions of the Partnership Agreement. In connection with any Transfer of Award LTIP Units or Award Common
Units, the Partnership may require the Grantee to provide an opinion of counsel, satisfactory to the Partnership, that such Transfer is in compliance with all federal and state securities laws (including, without limitation, the Securities Act).

 (d)    Any attempted Transfer of Award LTIP Units or Award Common Units not in accordance with the terms and
conditions of this Section 6 shall be null and void, and the Partnership shall not reflect on its records any change in record ownership of any Award LTIP Units or Award Common Units as a result of any such Transfer, shall otherwise refuse to
recognize any such Transfer and shall not in any way give effect to any such Transfer of any Award LTIP Units or Award Common Units. 

  
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 (e)    This Agreement is personal to the Grantee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 

7.    Legend. The books and records of the Partnership or other documentation evidencing the Award
LTIP Units shall bear an appropriate legend or notation, as determined by the Partnership in its sole discretion, to the effect that such LTIP Units are subject to restrictions as set forth herein, in the Plan and in the Partnership Agreement. 

8.    Withholding and Taxes. 

(a)    The Grantee acknowledges that, regardless of any action taken by the Company or the Partnership or, if different,
the Grantee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other
tax-related items related to the Award and legally applicable to the Grantee (“Tax-Related Items”), is and remains the
Grantee’s responsibility and may exceed the amount, if any, actually withheld by the Company or the Employer. 

(b)    The Grantee acknowledges and agrees that the Company and/or the Employer (i) make no representations or
undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Award, including, but not limited to, the grant, vesting or settlement of the Award or the subsequent
disposition of any LTIP Units acquired pursuant to this Award; and (ii) do not commit to and are under no obligation to structure the terms of the Award to reduce or eliminate the Grantee’s liability for
Tax-Related Items or achieve any particular tax result. Further, if the Grantee is subject to Tax-Related Items in more than one jurisdiction, the Grantee acknowledges
that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

(c)    Prior to any relevant taxable or tax withholding event, as applicable, the Grantee agrees to make adequate
arrangements satisfactory to the Company and/or the Employer to satisfy any applicable withholding obligations for Tax-Related Items. If such arrangements are not made by the Grantee by the date specified by
the Company and communicated to the Grantee (and in no event less than 30 days prior to the date as of which an amount first becomes includible in the gross income of the Grantee for income tax purposes or subject to the Federal Insurance
Contributions Act withholding with respect to the Award LTIP Units granted hereunder), the Grantee authorizes the Company or its agent to satisfy any applicable withholding obligations with regard to all
Tax-Related Items by deducting such amounts from any cash payments to be made to the Grantee hereunder or withholding in LTIP Units to be issued hereunder (or, if applicable, any Common Units into which the
LTIP Units are converted or shares of Stock issued in redemption of such Common Units). 
 (d)    The Company may
withhold or account for Tax-Related Items by considering the amount that is required by law to be withheld or such other amount determined by the Company or an affiliate that is not prohibited by law but in no
event more than the 

  
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maximum U.S. federal, state, local or foreign taxes, as applicable (including social insurance tax or contributions obligations, if any). In the event of under-withholding, Participant may be
required to pay any additional Tax-Related Items directly to the applicable tax authority or to the Company and/or its designated affiliate. If the obligation for
Tax-Related Items is satisfied by withholding in LTIP Units (or other securities pursuant to paragraph (c)), for tax purposes, Participant is deemed to have been issued the full number of vested Award LTIP
Units (or other applicable securities), notwithstanding that a number of the LTIP Units (or other applicable securities) are held back solely for the purpose of paying the Tax-Related Items. 

(e)    Finally, Participant agrees to pay to the Company or the Employer, including through withholding from
Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer, any amount of Tax-Related Items that the Company or the Employer may be required to withhold or
account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the LTIP Units issuable under this Agreement, or the proceeds of the
disposition thereof, if Participant fails to comply with Participant’s obligations in connection with the Tax-Related Items. 

9.    Amendment; Modification. This Agreement may only be modified or amended in a writing signed by the
parties hereto, provided that the Grantee acknowledges that the Plan may be amended or discontinued in accordance with Section 7 of the Plan, and that this Agreement may be amended or canceled by the Committee, on behalf of the Company and the
Partnership, for the purpose of satisfying changes in law or for any other lawful purpose, so long as no such action shall adversely affect the Grantee’s rights under this Agreement without the Grantee’s written consent. No promises,
assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have been made by the parties which are not set forth
expressly in this Agreement. The failure of the Grantee or the Company or the Partnership to insist upon strict compliance with any provision of this Agreement, or to assert any right the Grantee or the Company or the Partnership, respectively, may
have under this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

10.    Complete Agreement; Award in Satisfaction of Distribution from Deferred Compensation Plan. This
Agreement (together with those agreements and documents expressly referred to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and
supersede any and all prior promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject matter hereof in any way. The
Grantee acknowledges and agrees that Grantee’s receipt of this award is in satisfaction of his/her distribution right under the applicable Deferred Compensation Plan. 

11.    Investment Representation; Registration. The Grantee hereby makes the covenants, representations and
warranties set forth on Exhibit B attached hereto as of the Grant Effective Date. All of such covenants, warranties and representations shall survive the execution 

  
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and delivery of this Agreement by the Grantee. The Grantee shall immediately notify the Partnership upon discovering that any of the representations or warranties set forth on Exhibit B
was false when made or have, as a result of changes in circumstances, become false. The Partnership will have no obligation to register under the Securities Act any of the Award LTIP Units or any other securities issued pursuant to this Agreement or
upon conversion or exchange of the Award LTIP Units into other limited partnership interests of the Partnership or shares of Stock. 

12.    No Obligation to Continue Employment or Other Service Relationship. Neither the Company nor any
Related Company is obligated by or as a result of the Plan, or this Agreement to continue to have the Grantee provide services to it or to continue the Grantee in employment and neither the Plan nor this Agreement shall interfere in any way with the
right of the Company or any Subsidiary to terminate its service relationship with the Grantee or the employment of the Grantee at any time. 

13.    No Limit on Other Compensation Arrangements. Nothing contained in this Agreement shall preclude the
Company from adopting or continuing in effect other or additional compensation plans, agreements or arrangements, and any such plans, agreements and arrangements may be either generally applicable or applicable only in specific cases or to specific
persons. 
 14.    Status of Award LTIP Units under the Plan. The Award LTIP Units are both issued as
equity securities of the Partnership and granted as a “Full Value Award” under the Plan. The Company will have the right at its option, as set forth in the Partnership Agreement, to issue shares of Stock in exchange for partnership units
into which Award LTIP Units may have been converted pursuant to the Partnership Agreement, subject to certain limitations set forth in the Partnership Agreement, and such Stock, if issued, will be issued under the Plan. The Grantee acknowledges that
the Grantee will have no right to approve or disapprove such election by the Company. 

15.    Severability. If any term or provision of this Agreement is or becomes or is deemed to be invalid,
illegal or unenforceable in any jurisdiction or under any applicable law, rule or regulation, then such provision shall be construed or deemed amended to conform to applicable law (or if such provision cannot be so construed or deemed amended
without materially altering the purpose or intent of this Agreement and the grant of Award LTIP Units hereunder, such provision shall be stricken as to such jurisdiction and the remainder of this Agreement and the award hereunder shall remain in
full force and effect). 
 16.    Section 409A. If any compensation provided by this Agreement may result
in the application of Section 409A of the Code, the Company shall, in consultation with the Grantee, modify the Agreement in the least restrictive manner necessary in order to, where applicable, (i) exclude such compensation from the
definition of “deferred compensation” within the meaning of such Section 409A or (ii) comply with the provisions of Section 409A, other applicable provision(s) of the Code and/or any rules, regulations or other regulatory
guidance issued under such statutory provisions and to make such modifications, in each case, without any diminution in the value of the benefits granted hereby to the Grantee. 

  
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 17.    Law Governing. THIS AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF MARYLAND. 

18.    Headings. Section, paragraph and other headings and captions are provided solely as a convenience to
facilitate reference. Such headings and captions shall not be deemed in any way material or relevant to the construction, meaning or interpretation of this Agreement or any term or provision hereof. 

19.    Notices. Notices hereunder shall be mailed or delivered to the Partnership at its principal place of
business and shall be mailed or delivered to the Grantee at the address on file with the Partnership or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

20.    Counterparts. This Agreement may be executed in two or more separate counterparts, each of which
shall be an original, and all of which together shall constitute one and the same agreement. 
 21.    Successors
and Assigns. The rights and obligations created hereunder shall be binding on the Grantee and his heirs and legal representatives and on the successors and assigns of the Partnership. 

22.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or
structure future equity grants, the Company and its agents may process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other
information that is necessary or desirable for the administration of the Plan and/or this Agreement. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the undersigned have caused this Award to be executed on the
[    ] day of [            ], 201    . 

 

			
	PROLOGIS, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	PROLOGIS, L.P.
	
	By: PROLOGIS, INC.,
	Its General Partner
		
	By:	 	  

		 	Name:
		 	Title:
	
	Grantee
	
	  

	Name:
	Address:



  
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 EXHIBIT A 

FORM OF LIMITED PARTNER SIGNATURE PAGE 

The Grantee, desiring to become one of the within named Limited Partners of Prologis, L.P., hereby becomes a party to the Thirteenth Amended
and Restated Agreement of Limited Partnership of Prologis, L.P., as amended through the date hereof (the “Partnership Agreement”). 

The Grantee constitutes and appoints the General Partner, any Liquidator, and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as the Grantee’s true and lawful agent and attorney-in-fact, with full power and authority in the Grantee’s name, place and stead to carry out all acts described in Section 2.4.A(i) and (ii) of the Partnership Agreement, such power of
attorney to be irrevocable and a power coupled with an interest pursuant to Section 2.4.B of the Partnership Agreement. 
 The Grantee
agrees that this signature page may be attached to any counterpart of the Partnership Agreement. 
  

	
	Signature Line for Grantee:
	
	  

	Name: _________________
	Date: __________________
	
	Address of Grantee:
	
	  




  
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 EXHIBIT B 

GRANTEE’S COVENANTS, REPRESENTATIONS AND WARRANTIES 

The Grantee hereby represents, warrants and covenants as follows: 

(a)    The Grantee has received and had an opportunity to review the following documents (the “Background
Documents”): 
 (i)    The latest Annual Report to Stockholders that has been provided to
stockholders; 
 (ii)    The Company’s Proxy Statement for its most recent Annual Meeting of
Stockholders; 
 (iii)    The Company’s Report on Form 10-K
for the fiscal year most recently ended; 
 (iv)    The Company’s Form 10-Q for the most recently ended quarter if one has been filed by the Company with the Securities and Exchange Commission since the filing of the Form 10-K described in clause
(iv) above; 
 (v)    Each of the Company’s Current Report(s) on Form 8-K, if any, filed since the later of the end of the fiscal year most recently ended for which a Form 10-K has been filed by the Company; 

(vi)    The Thirteenth Amended and Restated Agreement of Limited Partnership of Prologis, L.P., as then
amended; 
 (vii)    The Company’s 2020 Long-Term Incentive Plan; and 

(viii)    The Company’s Articles of Incorporation, as then amended. 

The Grantee also acknowledges that any delivery of the Background Documents and other information relating to the Company and the Partnership
prior to the determination by the Partnership of the suitability of the Grantee as a holder of Award LTIP Units shall not constitute an offer of Award LTIP Units until such determination of suitability shall be made. 

(b)    The Grantee hereby represents and warrants that 

(i)    The Grantee either (A) is an “accredited investor” as defined in Rule 501(a) under
the Securities Act, or (B) by reason of the business and financial experience of the Grantee, together with the business and financial experience of those persons, if any, retained by the Grantee to represent or advise him or her with respect
to the grant to him or her of LTIP Units, the potential conversion of LTIP Units into 

  
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common units of the Partnership (“Common Units”) and the potential redemption of such Common Units for shares of Stock (“Shares”), has such knowledge,
sophistication and experience in financial and business matters and in making investment decisions of this type that the Grantee (I) is capable of evaluating the merits and risks of an investment in the Partnership and potential investment in
the Company and of making an informed investment decision, (II) is capable of protecting his or her own interest or has engaged representatives or advisors to assist him or her in protecting his or her interests, and (III) is capable of
bearing the economic risk of such investment. 
 (ii)    The Grantee understands that (A) the
Grantee is responsible for consulting his or her own tax advisors with respect to the application of the U.S. federal income tax laws, and the tax laws of any state, local or other taxing jurisdiction to which the Grantee is or by reason of the
award of LTIP Units may become subject, to his or her particular situation; (B) the Grantee has not received or relied upon business or tax advice from the Company, the Partnership or any of their respective employees, agents, consultants or
advisors, in their capacity as such; (C) the Grantee provides or will provide services to the Partnership on a regular basis and in such capacity has access to such information, and has such experience of and involvement in the business and
operations of the Partnership, as the Grantee believes to be necessary and appropriate to make an informed decision to accept this Award of LTIP Units; and (D) an investment in the Partnership and/or the Company involves substantial risks. The
Grantee has been given the opportunity to make a thorough investigation of matters relevant to the LTIP Units and has been furnished with, and has reviewed and understands, materials relating to the Partnership and the Company and their respective
activities (including, but not limited to, the Background Documents). The Grantee has been afforded the opportunity to obtain any additional information (including any exhibits to the Background Documents) deemed necessary by the Grantee to verify
the accuracy of information conveyed to the Grantee. The Grantee confirms that all documents, records, and books pertaining to his or her receipt of LTIP Units which were requested by the Grantee have been made available or delivered to the Grantee.
The Grantee has had an opportunity to ask questions of and receive answers from the Partnership and the Company, or from a person or persons acting on their behalf, concerning the terms and conditions of the LTIP Units. The Grantee has relied
upon, and is making its decision solely upon, the Background Documents and other written information provided to the Grantee by the Partnership or the Company. The Grantee did not receive any tax, legal or financial advice from the Partnership
or the Company and, to the extent it deemed necessary, has consulted with its own advisors in connection with its evaluation of the Background Documents and this Agreement and the Grantee’s receipt of LTIP Units. 

(iii)    The LTIP Units to be issued, the Common Units issuable upon conversion of the LTIP Units and any
Shares issued in connection with the redemption of any such Common Units will be acquired for the account of the Grantee for investment only and not with a current view to, or with any intention of, a distribution or resale thereof, in whole or in
part, or the grant of any participation therein, without prejudice, however, to the Grantee’s right (subject to the terms of the LTIP Units, the Plan and this Agreement) at all times to sell or otherwise dispose of all or any part of his or her
LTIP 

  
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Units, Common Units or Shares in compliance with the Securities Act, and applicable state securities laws, and subject, nevertheless, to the disposition of his or her assets being at all times
within his or her control. 
 (iv)    The Grantee acknowledges that (A) neither the LTIP Units to be
issued, nor the Common Units issuable upon conversion of the LTIP Units, have been registered under the Securities Act or state securities laws by reason of a specific exemption or exemptions from registration under the Securities Act and applicable
state securities laws and, if such LTIP Units or Common Units are represented by certificates, such certificates will bear a legend to such effect, (B) the reliance by the Partnership and the Company on such exemptions is predicated in part on
the accuracy and completeness of the representations and warranties of the Grantee contained herein, (C) such LTIP Units, or Common Units, therefore, cannot be resold unless registered under the Securities Act and applicable state securities
laws, or unless an exemption from registration is available, (D) there is no public market for such LTIP Units and Common Units and (E) neither the Partnership nor the Company has any obligation or intention to register such LTIP Units or
the Common Units issuable upon conversion of the LTIP Units under the Securities Act or any state securities laws or to take any action that would make available any exemption from the registration requirements of such laws, except, that, upon the
redemption of the Common Units for Shares, the Company currently intends to issue such Shares under the Plan and pursuant to a Registration Statement on Form S-8 under the Securities Act, to the extent that
(I) the Grantee is eligible to receive such Shares under the Plan at the time of such issuance and (II) the Company has filed an effective Form S-8 Registration Statement with the Securities and
Exchange Commission registering the issuance of such Shares. The Grantee hereby acknowledges that because of the restrictions on transfer or assignment of such LTIP Units acquired hereby and the Common Units issuable upon conversion of the LTIP
Units which are set forth in the Partnership Agreement and this Agreement, the Grantee may have to bear the economic risk of his or her ownership of the LTIP Units acquired hereby and the Common Units issuable upon conversion of the LTIP Units for
an indefinite period of time. 
 (v)    The Grantee has determined that the LTIP Units are a suitable
investment for the Grantee. 
 (vi)    No representations or warranties have been made to the Grantee by
the Partnership or the Company, or any officer, director, shareholder, agent, or affiliate of any of them, and the Grantee has received no information relating to an investment in the Partnership or the LTIP Units except the information specified in
this Paragraph (b). 
 (c)    So long as the Grantee holds any LTIP Units, the Grantee shall disclose to the Partnership
in writing such information as may be reasonably requested with respect to ownership of LTIP Units as the Partnership may deem reasonably necessary to ascertain and to establish compliance with provisions of the Code, applicable to the Partnership
or to comply with requirements of any other appropriate taxing authority. 
 (d)    The address set forth on the
signature page of this Agreement is the address of the Grantee’s principal residence, and the Grantee has no present intention of becoming a resident of any country, state or jurisdiction other than the country and state in which such residence
is sited. 

  
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 (e)    The representations of the Grantee as set forth above are true
and complete to the best of the information and belief of the Grantee, and the Partnership shall be notified promptly of any changes in the foregoing representations. 

  
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