EX-10.1





 Exhibit 10.1 

BRANDYWINE REALTY TRUST 
 AMENDED
AND RESTATED 1997 LONG-TERM INCENTIVE PLAN 
 RESTRICTED PERFORMANCE SHARE UNIT AND DIVIDEND EQUIVALENT RIGHTS 

AWARD AGREEMENT 
 ISSUED PURSUANT
TO THE 
 2019-2021 RESTRICTED PERFORMANCE SHARE UNIT PROGRAM 

This RESTRICTED PERFORMANCE SHARE UNIT AND DIVIDEND EQUIVALENT RIGHTS AWARD AGREEMENT (the “Award Agreement”), dated as of February
    , 2019 is between Brandywine Realty Trust, a Maryland real estate investment trust (the “Trust”), and
                     (the “Grantee”). 

WHEREAS, the Trust’s Compensation Committee (the “Committee”) established the Brandywine Realty Trust 2019-2021
Restricted Performance Share Unit Program (the “Program”) under the Brandywine Realty Trust Amended and Restated 1997 Long-Term Incentive Plan (the “Plan”); 

WHEREAS, the Plan provides for the award of “Performance Shares” (as defined in the Plan) (which award is referred to as a
“Restricted Performance Share Unit” or an “RSU” in the Program and herein) to participants following the attainment of a designated corporate performance goal; 

WHEREAS, the Program treats dividend equivalent rights (“DERs” as defined the Program) as additional Performance Shares; 

WHEREAS, the Program designates a performance goal that determines if and the extent to which Shares will become deliverable to a
participant in the Program based on his or her Restricted Performance Share Units; 
 WHEREAS, the Grantee may defer delivery of his
or her Shares (if deliverable) until a later date and, if so deferred, the Grantee will be awarded additional DERs with respect to such Shares; and 

WHEREAS, DERs awarded with respect to Restricted Performance Share Units and deferred Shares will be expressed as a dollar amount,
which will be applied to “purchase” additional Restricted Performance Share Units and notional shares of the Trust, as applicable (on which DERs will also be awarded), and will be settled in actual shares of the Trust (and in cash to the
extent the Grantee’s account holds a fractional Restricted Performance Share Unit or notional share). 
 NOW THEREFORE, in
consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the legal sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

 

	 	1.	 Potential Award of Shares 



(a)    The Grantee is hereby awarded a number of initial “Base Units” (as defined in the Program) equal to
             Restricted Performance Share Units. The Grantee’s Base Units will increase in number pursuant to the “purchase” of additional Restricted Performance Share Units
with DERs, as described in subsections (b) and (d) below. 
 (b)    The Grantee is hereby awarded a DER with
respect to each of his or her Base Units, as such number of units may be increased from time to time pursuant to subsection (d) below. If the Grantee makes a deferral election under Section 6 of the Program, the Grantee shall also be
awarded DERs with respect to each deferred Share. 












 (c)    The Trust hereby promises to deliver to the Grantee the number of
Shares that Grantee becomes entitled to under Section 5 of the Program (if any). Unless the Grantee elects to make a deferral election pursuant to Section 6 of the Program (in which case Shares will be delivered in accordance with such
election), the Shares shall be delivered on (i) February 1, 2022 or (ii) in the event of a “Change of Control” (as defined in the Program) prior to January 1, 2022, on the fifth calendar day after the end of the
“Measurement Period” (as defined in the Program) or (iii) in the event of a separation from service covered in Section 9(a) of the Program (relating to death, Disability or Retirement), on or before the thirtieth day after
Grantee’s separation from service (as applicable, the “Delivery Date”). This Award Agreement is in all respects limited and conditioned as hereinafter provided, and is subject in all respects to the terms and conditions of the Program
and the Plan now in effect and as they may be amended from time to time; provided, that no amendment may adversely affect an issued Award Agreement without the written consent of the affected Grantee. The terms and conditions of the Program and the
Plan are incorporated herein by reference, made a part hereof, and shall control in the event of any conflict with any other terms of the Award Agreement. 

(d)    DERs awarded with respect to Restricted Performance Share Units will be expressed as a specific dollar amount equal
in value to the amount of dividends paid on an actual Share on a specific date (the “Dividend Date”) during the Measurement Period, multiplied by the Grantee’s Base Units as of the Dividend Date. The dollar amount will be applied to
“purchase” full and fractional Restricted Performance Share Units at “Share Value” (as defined in the Program), which will be subject to Section 5 of the Program, and on which DERs thereafter will also be awarded. The
Grantee’s additional Restricted Performance Share Units will be replaced by issued Shares (and by cash, to the extent the Grantee holds a fractional Restricted Performance Share Unit) and delivered to the Grantee (if at all) in accordance with
the Program. 
 DERs awarded with respect to deferred Shares will also be expressed as a specific dollar amount equal in value to the amount
of dividends paid on an actual Share on a Dividend Date during the deferral period, multiplied by the number of Shares still deferred by the Grantee as of the Dividend Date. The Committee will apply the dollar amount to “purchase” full and
fractional notional shares at the closing price on the Dividend Date, on which DERs thereafter will also be awarded. The Grantee’s notional shares will be recorded in a bookkeeping account, and will be 100% vested. The Grantee’s notional
shares will be replaced by issued Shares (and by cash, to the extent the Grantee holds a fractional notional share) and delivered to the Grantee in accordance with Section 4 of the Program. 

2.    Share Certificates. Certificates for Shares delivered pursuant to the Program shall be registered in the
Grantee’s name (or, if the Grantee so requests, in the name of the Grantee and the Grantee’s spouse, jointly with right of survivorship). 

3.    Transferability. Except as provided in Section 7 of the Program (regarding beneficiary designations),
the Grantee may not assign or transfer his or her Restricted Performance Share Units, notional Shares or any interest therein. 

4.    Withholding of Taxes. The obligation of the Trust to deliver Shares shall be subject to applicable federal,
state and local tax withholding requirements. If the amount includible in the Grantee’s income as a result of the delivery of Shares is subject to the withholding requirements of applicable tax law, the Trust will cancel a number of Shares
otherwise issuable hereunder having an aggregate Fair Market Value on the Delivery Date equal to the required tax withholdings. Notwithstanding the foregoing, the Trust may limit the number of Shares withheld to the extent necessary to avoid adverse
accounting consequences. 
 5.    Share Ownership Requirements. For purposes of the share ownership requirements
of the Trust’s governance guidelines, the Shares issued to the Grantee under the Program shall be treated as though they were restricted shares that became vested upon issuance. However, any share ownership requirement that results from this
provision shall immediately lapse upon the Grantee’s termination of employment with the Employer. 

  
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 6.    Clawback. Notwithstanding anything to the contrary
contained herein, Grantee agrees that this Award will be subject to the terms of any current or future clawback or recapture policy adopted by the Company and any current or future law, regulation or stock exchange listing requirement regarding the
clawback or recapture of compensation. 
 7.    Governing Law. This Award Agreement shall be construed in
accordance with, and its interpretation shall be governed by, applicable federal law and otherwise by the laws of the State of Maryland (without reference to the principles of the conflict of laws). 

IN WITNESS WHEREOF, the Trust has caused this Award Agreement to be duly executed by its duly authorized officer and the Grantee has hereunto
set his or her hand all as of the day and year first above written. 
  

			
	BRANDYWINE REALTY TRUST
		
	By:	 	 
	Name:	 	Gerard H. Sweeney
	Title:	 	President and Chief Executive Officer
	
	GRANTEE
	
	  




  
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