Document:

exv10w1

Exhibit 10.1

FIRST INDUSTRIAL REALTY TRUST, INC.

SERVICE-BASED BONUS AGREEMENT

     AGREEMENT (the “Agreement”), made and entered into as of [                              ], 2010 by and between
First Industrial Realty Trust, Inc. (the “Company”) and [                              ] (the “Grantee”).

     WHEREAS, the Company desires to provide Grantee a cash bonus in connection with his service to
the Company through June 30, 2011. Capitalized terms not otherwise defined herein shall have the
meaning ascribed to such terms in the First Industrial Realty Trust, Inc. 2009 Stock Incentive Plan
(the “Plan”).

     NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and
for other good and valuable consideration, the Company and the Grantee agree as follows:

1. Bonus Eligibility. In the event Grantee remains employed with the Company through
and including June 30, 2011 Grantee will be eligible for a cash bonus of $                               (the
“Bonus”).

2. Other Events; Change of Control. In the event (i) Grantee’s employment with the Company
is terminated on or prior to June 30, 2011 as a result of Grantee’s death or by the Company due to
Grantee’s Disability (as defined in the Plan and where such disability also qualifies as such under
the Company’s long-term disability insurance policy, if applicable) or (ii) a Change of Control (as
defined in the Plan) is consummated on or prior to June 30, 2011 and Grantee remains employed with
the Company through the date of such consummation, Grantee will be eligible for an amount in cash
equal to three (3) times the Bonus, in lieu of the Bonus. Except as provided in clauses (i) and
(ii) above, in the event of the termination of the Grantee’s employment with the Company by the
Company with or without Cause or by the Grantee for any reason prior to the earlier of June 30,
2011 or the consummation of a Change of Control, Grantee will not be eligible for any Bonus.

3. Payment. As soon as practicable following the time at which Grantee becomes eligible
(but in no event later than 60 days therefrom), the Bonus shall be paid to the Grantee in cash.

4. Nontransferability. This Agreement shall not be transferable by the Grantee except by
will or the laws of descent and distribution.

5. Withholding. The Company shall withhold from any payment due to Grantee hereunder an
amount necessary to satisfy all applicable income and employment taxes due (based on the minimum
statutory rates).

6. Administration. The authority to manage and control the operation and administration of
this Agreement and the Plan shall be vested in the Committee, and the Committee shall have all
powers with respect to this Agreement as it has with respect to awards granted under the Plan. Any
interpretation of this Agreement or the Plan by the Committee and any decision made by it with
respect to this Agreement or the Plan are final and binding on all persons.

 

 

7. Plan Governs. Notwithstanding anything in this Agreement to the contrary, this
Agreement shall be subject to the terms of the Plan, in a manner consistent as if it were granted
pursuant to the Plan, a copy of which may be obtained by the Grantee from the office of the
Secretary of the Company; and this Agreement is subject to all interpretations, amendments, rules
and regulations promulgated by the Committee from time to time pursuant to and applicable to awards
granted under the Plan. Notwithstanding anything in this Agreement to the contrary, in the event
of any discrepancies between the corporate records and this Agreement, the corporate records shall
control.

8. Not an Employment Contract. This Agreement shall not confer on the Grantee any right
with respect to continuance of service with the Company nor shall such grant confer any right to
future bonuses, or any other awards in lieu thereof, while employed by the Company. This Agreement
shall not interfere in any way with the right of the Company to terminate the Grantee’s service at
any time.

9. Validity. If any provision of the Agreement is determined to be illegal or invalid for
any reason, said illegality or invalidity shall not affect the remaining parts hereof, but the
Agreement shall be construed and enforced as if such illegal or invalid provision has never been
included herein.

10. References. References herein to rights and obligations of the Grantee shall apply,
where appropriate, to the Grantee’s legal representative or estate without regard to whether
specific reference to such legal representative or estate is contained in a particular provision of
this Agreement.

11. Notice. Any notice required or permitted to be given under this Agreement shall be in
writing and shall be deemed to have been given when delivered personally or by courier, or sent by
certified or registered mail, postage prepaid, return receipt requested, duly addressed to the
party concerned at the address indicated below or to such changed address as such party may
subsequently by similar process give notice of:

	 	 	 

	If to the Company:

	 	First Industrial Realty Trust, Inc.
	 

	 	311 S. Wacker Drive, Suite 4000
	 

	 	Chicago, Illinois 60606
	 

	 	Attn: John Clayton — VP — Corporate Legal
	 
	 	 
	If to the Grantee:

	 	At the most recent address on file at the Company.

12. Counterparts. This Agreement may be executed in counterparts, each of which shall
constitute one and the same instrument.

13. Amendment. This Agreement may be amended in accordance with the provisions of the Plan
as applicable to awards granted under the Plan, and may otherwise be amended by written agreement
of the Grantee and the Company without the consent of any other person.

14. Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of Illinois without reference to the principles of conflict of laws, except
to the extent such law is preempted by federal law.

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15. Data Privacy. By executing this Agreement, the Grantee hereby agrees freely, and with
full knowledge and consent, to the collection, use, processing and transfer (collectively, the
“Use”) of certain personal data such as the Grantee’s name, salary, job title, position or
evaluation rating, along with details of this Agreement or similar agreements or otherwise
(collectively, the “Data”), for the purpose of managing and administering this Agreement, a copy of
which the Grantee acknowledges having received and understood. The Grantee further acknowledges
and agrees that the Company and/or any of its Affiliates or Subsidiaries or may make Use of the
Data amongst themselves, and/or with any other third parties assisting the Company in the
administration and management of the Agreement (collectively, the “Data Recipients”). In keeping
therewith, the Grantee hereby further authorizes any Data Recipients, including any Data Recipients
located in foreign jurisdictions, to continue to make Use of the Data, in electronic or other form,
for the purposes of administering and managing the Agreement. The Company shall, at all times,
take all commercially reasonable efforts to ensure that appropriate safety measures shall be in
place to ensure the confidentiality of the Data, and that no Use will be made of the Data for any
purpose other than the administration and management of the Plan. The Grantee may, at any time,
review his or her Data and request necessary amendments to such Data. The Grantee may withdraw
consent to the Use of the Data herein by notifying the Company in writing at the following address:
First Industrial Realty Trust, Inc. Attn: Chris Schneider, 311 S. Wacker Drive, Suite 4000,
Chicago, IL 60606, USA; however, because the Data is essential to the Company’s ability to
administer and manage the Agreement and to assess employee admissibility under the Agreement, by
withdrawing consent to the Use of the Data, the Grantee may affect his or her eligibility to
participate in the Agreement. By executing this Agreement, the Grantee hereby releases and forever
discharges the Company from any and all claims, demands, actions, causes of action, damages,
liabilities, costs, losses and expenses arising out of, or in connection with, the Use of the Data
for purposes of managing and administering the Agreement, including without limitation, any and all
claims for invasion of privacy, infringement of the Grantee’s right of publicity, defamation and
any other personal, moral and/or property rights.

16. Section 409A. It is the intention of the Company that this Agreement shall comply with
the requirements of Section 409A of the Code or be exempt from Section 409A of the Code and, with
respect to amounts that are subject to Section 409A of the Code, shall in all respects be
administered in accordance with Section 409A of the Code, and this Agreement, the Plan (insofar as
it is incorporated by reference into this Agreement) and the terms and conditions of all awards
thereunder shall be interpreted accordingly. Notwithstanding anything in this Agreement to the
contrary, to the extent required by Section 409A of the Code, any amount payable to the Grantee
hereunder on account of his “separation from service” shall be delayed and paid to the Grantee on
the first business day after the date that is six months following the Grantee’s “separation from
service.”

17. Section 409A Amendment. The Committee reserves the right (including the right to
delegate such right) to unilaterally amend this Agreement without the consent of the Grantee in
order to maintain an exclusion from the application of, or to maintain compliance with, Code
Section 409A. Any such amendment shall maintain, to the extent practicable, the original intent of
the applicable provision. Grantee’s acceptance of this Agreement constitutes acknowledgement and
consent to such rights of the Company.

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     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of date first written
above.

	 	 	 	 	 	 	 

	 	 	FIRST INDUSTRIAL REALTY TRUST, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 

     I hereby acknowledge that I have received a copy of the Plan (the terms of which are
incorporated by reference into this Agreement) and am familiar with the terms and conditions set
forth therein. I agree to accept as binding, conclusive, and final all decisions and
interpretations of the Committee. As a condition to the receipt of any award under this Agreement,
I hereby authorize the Company to withhold from any regular cash compensation payable to me by the
Company any taxes required to be withheld under any applicable law as a result of any award under
this Agreement.

	 	 	 	 	 	 	 

	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 

	 	 

 4exv10w4

Exhibit 10. 4

FORM OF

LEGACY HEALTHCARE PROPERTIES TRUST INC.

2010 EQUITY INCENTIVE PLAN

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	Section	 	 	 	Page
	Article I DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 
	     1.01.

	 	Affiliate
	 	 	1	 
	     1.02.

	 	Agreement
	 	 	1	 
	     1.03.

	 	Board
	 	 	1	 
	     1.04.

	 	Change in Control
	 	 	1	 
	     1.05.

	 	Code
	 	 	2	 
	     1.06.

	 	Committee
	 	 	3	 
	     1.07.

	 	Common Stock
	 	 	3	 
	     1.08.

	 	Company
	 	 	3	 
	     1.09.

	 	Completion Date
	 	 	3	 
	     1.10.

	 	Control Change Date
	 	 	3	 
	     1.11.

	 	Corresponding SAR
	 	 	3	 
	     1.12.

	 	Dividend Equivalent Right
	 	 	4	 
	     1.13.

	 	Exchange Act
	 	 	4	 
	     1.14.

	 	Fair Market Value
	 	 	4	 
	     1.15.

	 	Incentive Award
	 	 	4	 
	     1.16.

	 	Initial Value
	 	 	4	 
	     1.17.

	 	LTIP Unit
	 	 	5	 
	     1.18.

	 	Operating Partnership
	 	 	5	 
	     1.19.

	 	Option
	 	 	5	 
	     1.20.

	 	Other Equity-Based Award
	 	 	5	 
	     1.21.

	 	Participant
	 	 	5	 
	     1.22.

	 	Performance Units
	 	 	5	 
	     1.23.

	 	Plan
	 	 	6	 
	     1.24.

	 	REIT
	 	 	6	 
	     1.25.

	 	SAR
	 	 	6	 
	     1.26.

	 	Stock Award
	 	 	6	 
	     1.27.

	 	Successor Entity
	 	 	6	 
	     1.28.

	 	Ten Percent Stockholder
	 	 	6	 
	 
	 	 	 	 	 	 
	Article II PURPOSES	 	 	7	 
	 
	 	 	 	 	 	 
	Article III ADMINISTRATION	 	 	7	 
	 
	 	 	 	 	 	 
	Article IV ELIGIBILITY	 	 	8	 
	 
	 	 	 	 	 	 
	Article V COMMON STOCK SUBJECT TO PLAN	 	 	8	 
	 
	 	 	 	 	 	 
	     5.01.

	 	Common Stock Issued
	 	 	8	 
	     5.02.

	 	Aggregate Limit
	 	 	8	 
	     5.03.

	 	Reallocation of Shares
	 	 	9	 
	 
	 	 	 	 	 	 
	Article VI OPTIONS	 	 	9	 
	 
	 	 	 	 	 	 
	     6.01.

	 	Award
	 	 	9	 

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	Section	 	 	 	Page
	     6.02.

	 	Option Price
	 	 	9	 
	     6.03.

	 	Maximum Option Period
	 	 	10	 
	     6.04.

	 	Nontransferability
	 	 	10	 
	     6.05.

	 	Transferable Options
	 	 	10	 
	     6.06.

	 	Employee Status
	 	 	11	 
	     6.07.

	 	Exercise
	 	 	11	 
	     6.08.

	 	Payment
	 	 	11	 
	     6.09.

	 	Stockholder Rights
	 	 	11	 
	     6.10.

	 	Disposition of Shares
	 	 	12	 
	 
	 	 	 	 	 	 
	Article VII SARS	 	 	12	 
	 
	 	 	 	 	 	 
	     7.01.

	 	Award
	 	 	12	 
	     7.02.

	 	Maximum SAR Period
	 	 	12	 
	     7.03.

	 	Nontransferability
	 	 	12	 
	     7.04.

	 	Transferable SARs
	 	 	12	 
	     7.05.

	 	Exercise
	 	 	13	 
	     7.06.

	 	Employee Status
	 	 	13	 
	     7.07.

	 	Settlement
	 	 	13	 
	     7.08.

	 	Stockholder Rights
	 	 	14	 
	 
	 	 	 	 	 	 
	Article VIII STOCK AWARDS	 	 	14	 
	 
	 	 	 	 	 	 
	     8.01.

	 	Award
	 	 	14	 
	     8.02.

	 	Vesting
	 	 	14	 
	     8.03.

	 	Employee Status
	 	 	14	 
	     8.04.

	 	Stockholder Rights
	 	 	14	 
	 
	 	 	 	 	 	 
	Article IX PERFORMANCE UNIT AWARDS	 	 	15	 
	 
	 	 	 	 	 	 
	     9.01.

	 	Award
	 	 	15	 
	     9.02.

	 	Earning the Award
	 	 	15	 
	     9.03.

	 	Payment
	 	 	15	 
	     9.04.

	 	Stockholder Rights
	 	 	15	 
	     9.05.

	 	Nontransferability
	 	 	16	 
	     9.06.

	 	Transferable Performance Units
	 	 	16	 
	     9.07.

	 	Employee Status
	 	 	16	 
	 
	 	 	 	 	 	 
	Article X OTHER EQUITY—BASED AWARDS	 	 	17	 
	 
	 	 	 	 	 	 
	     10.01.

	 	Award
	 	 	17	 
	     10.02.

	 	Terms and Conditions
	 	 	17	 
	     10.03.

	 	Payment or Settlement
	 	 	17	 
	     10.04.

	 	Employee Status
	 	 	17	 
	     10.05.

	 	Stockholder Rights
	 	 	18	 
	 
	 	 	 	 	 	 
	Article XI Incentive awards	 	 	18	 
	 
	 	 	 	 	 	 
	     11.01.

	 	Award
	 	 	18	 
	     11.02.

	 	Terms and Conditions
	 	 	18	 
	     11.03.

	 	Nontransferability
	 	 	18	 
	     11.04.

	 	Employee Status
	 	 	19	 

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	Section	 	 	 	Page
	     11.05.

	 	Settlement
	 	 	19	 
	     11.06.

	 	Shareholder Rights
	 	 	19	 
	 
	 	 	 	 	 	 
	Article XII ADJUSTMENT UPON CHANGE IN COMMON STOCK	 	 	19	 
	 
	 	 	 	 	 	 
	Article XIII COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES	 	 	20	 
	 
	 	 	 	 	 	 
	Article XIV GENERAL PROVISIONS	 	 	20	 
	 
	 	 	 	 	 	 
	     14.01.

	 	Effect on Employment and Service
	 	 	20	 
	     14.02.

	 	Unfunded Plan
	 	 	21	 
	     14.03.

	 	Rules of Construction
	 	 	21	 
	     14.04.

	 	Withholding Taxes
	 	 	21	 
	     14.05.

	 	REIT Status
	 	 	22	 
	 
	 	 	 	 	 	 
	Article XV change in control	 	 	22	 
	 
	 	 	 	 	 	 
	     15.01.

	 	Impact of Change in Control
	 	 	22	 
	     15.02.

	 	Assumption Upon Change in Control
	 	 	22	 
	     15.03.

	 	Cash-Out Upon Change in Control
	 	 	22	 
	     15.04.

	 	Limitation of Benefits
	 	 	23	 
	 
	 	 	 	 	 	 
	Article XVI AMENDMENT	 	 	24	 
	 
	 	 	 	 	 	 
	Article XVII DURATION OF PLAN	 	 	25	 
	 
	 	 	 	 	 	 
	Article XVIII EFFECTIVE DATE OF PLAN	 	 	25	 

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ARTICLE I

DEFINITIONS

1.01. Affiliate

     “Affiliate” means any entity, whether now or hereafter existing, which controls, is
controlled by, or is under common control with, the Company (including, but not limited to, joint
ventures, limited liability companies and partnerships). For this purpose, the term “control”
(including the correlative meanings of the terms “controlled by” and “under common control with”)
shall mean ownership, directly or indirectly, of [50%] or more of the total combined voting power
of all classes of voting securities issued by such entity, or the possession, directly or
indirectly, of the power to direct the management and policies of such entity, by contract or
otherwise.

1.02. Agreement

     “Agreement” means a written agreement (including any amendment or supplement thereto)
between the Company and a Participant specifying the terms and conditions of a Stock Award, an
award of Performance Units, an Incentive Award, an Option, SAR or Other Equity-Based Award
(including an LTIP Unit) granted to such Participant.

1.03. Board

     “Board” means the Board of Directors of the Company.

1.04. Change in Control

     “Change
in Control” means and includes each of the following:

     (a) A transaction or series of transactions whereby any “person” or related “group” of
“persons,” within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act (other than the
Company or any of its subsidiaries, any trustee or other fiduciary holding the Company’s securities
under an employee benefit plan sponsored or maintained by the Company or any of its Affiliates, any
underwriter temporarily holding the Company’s securities pursuant to an offering of such securities
or any entity owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportions as their ownership of the then outstanding shares of Common Stock), acquires,
directly or indirectly, “beneficial ownership,” within the meaning of Rule 13d-3 under the Exchange
Act, of securities of the Company possessing more than 50% of the combined voting power of the
Company’s securities outstanding immediately after such acquisition;

     (b) During any period of two consecutive years, individuals who, at the beginning of such
period, constitute the Board together with any new director(s) (other than a director

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designated by a person who shall have entered into an agreement with the Company to effect a
transaction described in Section 1.04(a) or Section 1.04(c), or a director whose initial assumption
of office is in connection with an actual or threatened election contest) whose election by the
Board or nomination for election by the Company’s stockholders was approved by a vote of at least
two-thirds of the directors then still in office who either were directors at the beginning of the
two year period or whose election or nomination for election was previously so approved, cease for
any reason to constitute a majority thereof; or

     (c) The consummation by the Company (whether directly involving the Company or indirectly
involving the Company through one or more intermediaries) of (1) a merger, consolidation,
reorganization, or business combination or (2) a sale or other disposition of all or substantially
all of the Company’s assets in any single transaction or series of related transactions or (3) the
acquisition of assets or stock of another entity, in each case other than a transaction:

     (i) Which results in the Company’s voting securities outstanding immediately before the
transaction continuing to represent (either by remaining outstanding or by being converted
into voting securities of the Company or the person that, as a result of the transaction,
controls, directly or indirectly, the Company, or owns, directly or indirectly, all or
substantially all of the Company’s assets or otherwise succeeds to the business of the
Company (the Company or such person, the “Successor Entity”)) directly or
indirectly, at least a majority of the combined voting power of the Successor Entity’s
outstanding voting securities immediately after the transaction, and

     (ii) After which no “person” or related “group” of “persons,” within the meaning of
Sections 13(d) and 14(d)(2) of the Exchange Act, beneficially owns voting securities
representing 50% or more of the combined voting power of the Successor Entity; provided,
however, that no person or group shall be treated for purposes of this Section 1.4(c)(ii) as
beneficially owning 50% or more of the combined voting power of the Successor Entity solely
as a result of the voting power held in the Company prior to the consummation of the
transaction.

     In addition, if a Change in Control constitutes a payment event with respect to any Option,
SAR, Stock Award, Performance Unit or Other Equity-Based Award that provides for the deferral of
compensation and is subject to Section 409A of the Code, no payment will be made under that award
on account of a Change in Control unless the event described in subsection (a), (b) or (c) above,
as applicable, constitutes a “change in control event” as defined in Treasury Regulation Section
1.409A-3(i)(5).

1.05. Code

     “Code” means the Internal Revenue Code of 1986, and any amendments thereto.

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1.06. Committee

     “Committee” means the Compensation Committee of the Board. Unless otherwise
determined by the Board, the Committee shall consist solely of two or more non-employee members of
the Board, each of whom is intended to qualify as a “non-employee director” as defined by Rule
16b-3 of the Exchange Act or any successor rule, an “outside director” for purposes of Section
162(m) of the Code (if awards under the Plan are subject to the deduction limitation of Section
162(m) of the Code) and an “independent director” under the rules of any exchange or automated
quotation system on which the Common Stock is listed, traded or quoted; provided, however, that any
action taken by the Committee shall be valid and effective, whether or not the members of the
Committee at the time of such action are later determined not to have satisfied the foregoing
requirements or otherwise provided in any charter of the Committee. If there is no Compensation
Committee, then “Committee” means the Board; and provided, further that with respect to awards made
to a member of the Board who is not an employee of the Company or an Affiliate, “Committee” means
the Board.

1.07. Common Stock

     “Common Stock” means the common stock, par value $0.01 per share, of the Company.

1.08.
Company

     “Company” means Legacy Healthcare Properties Trust Inc., a Maryland corporation.

1.09. Completion Date

     “Completion Date” means the initial closing date of the initial public offering of the
Common Stock.

1.10. Control Change Date

     “Control Change Date” means the date on which a Change in Control occurs. If a Change
in Control occurs on account of a series of transactions, the “Control Change Date” is the date of
the last of such transactions.

1.11. Corresponding SAR

     “Corresponding SAR” means an SAR that is granted in relation to a particular Option
and that can be exercised only upon the surrender to the Company, unexercised, of that portion of
the Option to which the SAR relates.

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1.12. Dividend Equivalent Right

     “Dividend Equivalent Right” means the right, subject to the terms and conditions
prescribed by the Committee, of a Participant to receive (or have credited) cash, securities or
other property in amounts equivalent to the cash, securities or other property dividends declared
on Common Stock with respect to specified Performance Units or an Other Equity-Based Award of units
denominated in Common Stock or other Company securities, as determined by the Committee, in its
sole discretion. The Committee may provide that such Dividend Equivalents (if any) shall be
distributed only when, and to the extent that, the underlying award is vested or earned and also
may provide that Dividend Equivalents (if any) shall be deemed to have been reinvested in
additional Common Stock or otherwise reinvested.

1.13. Exchange Act

     “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

1.14. Fair Market Value

     “Fair Market Value” means, on any given date, the reported “closing” price of a share
of Common Stock on the New York Stock Exchange for such date or, if there is no closing price for a
share of Common Stock on the date in question, the closing price for a share of Common Stock on the
last preceding date for which a quotation exists. If, on any given date, the Common Stock is not
listed for trading on the New York Stock Exchange, then Fair Market Value shall be the “closing”
price of a share of Common Stock on such other exchange on which the Common Stock is listed for
trading for such date (or, if there is no closing price for a share of Common Stock on the date in
question, the closing price for a share of Common Stock on the last preceding date for which such
quotation exists) or, if the Common Stock is not listed on any exchange, the amount determined by
the Committee using any reasonable method in good faith and in accordance with the regulations
under Section 409A of the Code.

1.15. Incentive Award

     Incentive Award means an award awarded under Article XI which, subject to the terms and
conditions prescribed by the Committee, entitles the Participant to receive a payment from the
Company or an Affiliate.

1.16. Initial Value

     “Initial Value” means, with respect to a Corresponding SAR, the option price per share
of the related Option and, with respect to an SAR granted independently of an Option, the price per
share of Common Stock as determined by the Committee on the date of grant; provided, however, that
the price shall not be less than the Fair Market Value on the date of grant. Except

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as provided in Article XII, the Initial Value of an outstanding SAR may not be reduced (by
amendment, cancellation and new grant or otherwise) without the approval of stockholders.

1.17. LTIP Unit

     “LTIP Unit” means an “LTIP Unit” as defined in the Operating Partnership’s partnership
agreement. An LTIP Unit granted under this Plan represents the right to receive the benefits,
payments or other rights in respect of an LTIP Unit set forth in that partnership agreement,
subject to the terms and conditions of the applicable Agreement and that partnership agreement.

1.18. Operating Partnership

     “Operating
Partnership” means Legacy Healthcare Properties, LP.

1.19. Option

     “Option” means a stock option that entitles the holder to purchase from the Company a
stated number of shares of Common Stock at the price set forth in an Agreement.

1.20. Other Equity-Based Award

     “Other Equity-Based Award” means any award other than an Incentive Award, an Option,
SAR, a Performance Unit award or a Stock Award which, subject to such terms and conditions as may
be prescribed by the Committee, entitles a Participant to receive Common Stock or rights or units
valued in whole or in part by reference to, or otherwise based on, Common Stock (including
securities convertible into Common Stock) or other equity interests including LTIP Units.

1.21. Participant

     “Participant” means an employee or officer of the Company or an Affiliate, a member of
the Board, or an individual who provides bona fide services to the Company or an Affiliate
(including an individual who provides services to the Company or an Affiliate by virtue of
employment with, or providing services to, the Operating Partnership), and who satisfies the
requirements of Article IV and is selected by the Committee to receive an award of Performance
Units or a Stock Award, an Incentive Award, Option, SAR, Other Equity-Based Award or a combination
thereof.

1.22. Performance Units

     “Performance Units” means an award, in the amount determined by the Committee, stated
with reference to a specified number of shares of Common Stock or other securities or property,
that in accordance with the terms of an Agreement entitles the holder to receive a

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payment for each specified unit equal to the value of the Performance Unit on the date of
payment.

1.23. Plan

     “Plan” means this Legacy Healthcare Properties Trust Inc. 2010 Equity Incentive Plan.

1.24. REIT

     “REIT” means a real estate investment trust within the meaning of Sections 856 through
860 of the Code.

1.25. SAR

     “SAR” means a stock appreciation right that in accordance with the terms of an
Agreement entitles the holder to receive, with respect to each share of Common Stock encompassed by
the exercise of the SAR, the excess, if any, of the Fair Market Value at the time of exercise over
the Initial Value. References to “SARs” include both Corresponding SARs and SARs granted
independently of Options, unless the context requires otherwise.

1.26. Stock Award

     “Stock
Award” means Common Stock awarded to a Participant under Article VIII.

1.27. Successor Entity

     “Successor
Entity” has the meaning set forth in Section 1.04(c)(i).

1.28. Ten Percent Stockholder

     “Ten Percent Stockholder” means any individual owning more than ten percent (10%) of
the total combined voting power of all classes of stock of the Company or of a “parent corporation”
or “subsidiary corporation” (as such terms are defined in Section 424 of the Code) of the Company.
An individual shall be considered to own any voting stock owned (directly or indirectly) by or for
his or her brothers, sisters, spouse, ancestors or lineal descendants and shall be considered to
own proportionately any voting stock owned (directly or indirectly) by or for a corporation,
partnership, estate or trust of which such individual is a stockholder, partner or beneficiary.

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ARTICLE II

PURPOSES

     The Plan is intended to assist the Company and its Affiliates in recruiting and retaining
individuals and other service providers with ability and initiative by enabling such persons or
entities to participate in the future success of the Company and its Affiliates and to associate
their interests with those of the Company and its stockholders. The Plan is intended to permit the
grant of both Options qualifying under Section 422 of the Code (“incentive stock options”) and
Options not so qualifying, and the grant of SARs, Stock Awards, Performance Units, Incentive Awards
and Other Equity-Based Awards in accordance with the Plan and any procedures that may be
established by the Committee. No Option that is intended to be an incentive stock option shall be
invalid for failure to qualify as an incentive stock option. The proceeds received by the Company
from the sale of Common Stock pursuant to this Plan shall be used for general corporate purposes.

ARTICLE III

ADMINISTRATION

     The Plan shall be administered by the Committee. The Committee shall have authority to grant
SARs, Stock Awards, Performance Units, Incentive Awards, Options and Other Equity-Based Awards upon
such terms (not inconsistent with the provisions of this Plan), as the Committee may consider
appropriate. Such terms may include conditions (in addition to those contained in this Plan), on
the exercisability of all or any part of an Option or SAR or on the transferability or
forfeitability of a Stock Award, an award of Performance Units, an Incentive Award or an Other
Equity-Based Award. Notwithstanding any such conditions, the Committee may, in its discretion,
accelerate the time at which any Option or SAR may be exercised, or the time at which a Stock Award
or Other Equity-Based Award may become transferable or nonforfeitable or the time at which an Other
Equity-Based Award, an Incentive Award or an award of Performance Units may be settled. In
addition, the Committee shall have complete authority to interpret all provisions of this Plan; to
prescribe the form of Agreements; to adopt, amend, and rescind rules and regulations pertaining to
the administration of the Plan (including rules and regulations that require or allow Participants
to defer the payment of benefits under the Plan); and to make all other determinations necessary or
advisable for the administration of this Plan. The Committee’s determinations under the Plan
(including without limitation, determinations of the individuals to receive awards under the Plan,
the form, amount and timing of such awards, the terms and provisions of such awards and the
Agreements) need not be uniform and may be made by the Committee selectively among individuals who
receive, or are eligible to receive, awards under the Plan, whether or not such persons are
similarly situated. The express grant in the Plan of any specific power to the Committee shall not
be construed as limiting any power or authority of the Committee. Any decision made, or action
taken, by the Committee in connection with the administration of this Plan shall be final and
conclusive. The members of the Committee shall not be liable for any act done in good faith with
respect to this

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Plan or any Agreement, Option, SAR, Incentive Award, Stock Award, Other Equity-Based Award or award
of Performance Units. All expenses of administering this Plan shall be borne by the Company.

ARTICLE IV

ELIGIBILITY

     Any employee of the Company or an Affiliate (including a trade or business that becomes an
Affiliate after the adoption of this Plan) and any member of the Board is eligible to participate
in this Plan. In addition, any other individual who provides significant services to the Company
or an Affiliate (including an individual who provides services to the Company or an Affiliate by
virtue of employment with, or providing services to, the Operating Partnership) is eligible to
participate in this Plan if the Committee, in its sole discretion, determines that the
participation of such individual is in the best interest of the Company.

ARTICLE V

COMMON STOCK SUBJECT TO PLAN

5.01. Common Stock Issued

     Upon the award of Common Stock pursuant to a Stock Award, an Other Equity-Based Award or in
settlement of an Incentive Award or an award of Performance Units, the Company may deliver (and
shall deliver if required under an Agreement) to the Participant Common Stock from its authorized
but unissued Common Stock. Upon the exercise of any Option, SAR or Other Equity-Based Award
denominated in Common Stock, the Company may deliver (and shall deliver if required under an
Agreement), to the Participant (or the Participant’s broker if the Participant so directs), Common
Stock from its authorized but unissued Common Stock.

5.02. Aggregate Limit

     (a) The maximum aggregate number of shares of Common Stock that may be issued under this Plan
pursuant to the exercise of Options and SARs, the grant of Stock Awards or Other Equity-Based
Awards and the settlement of Incentive Awards and Performance Units is equal to the lesser of (i)
[•] shares of Common Stock or (ii) seven and one-half percent (7.5%) of the total number of shares
of Common Stock sold in the Company’s initial public offering (including the number of shares sold
on account of the underwriters’ exercise of their over-allotment option) and the private placement
completed concurrently with such initial public offering. Other Equity-Based Awards that are LTIP
Units shall reduce the maximum aggregate number of shares of Common Stock that may be issued under
this Plan on a one-for-one basis, i.e., each such unit shall be treated as an award of Common
Stock.

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     (b) The maximum number of shares of Common Stock that may be issued under this Plan in
accordance with Section 5.02(a) shall be subject to adjustment as provided in Section 5.02(a) and
Article XII.

     (c) The maximum number of shares of Common Stock that may be issued upon the exercise of
Options that are incentive stock options or Corresponding SARs that are related to incentive stock
options shall be determined in accordance with Sections 5.02(a) and 5.02(b).

5.03. Reallocation of Shares

     If any award or grant under the Plan (including LTIP Units) expires, is forfeited or is
terminated without having been exercised or is paid in cash without a requirement for the delivery
of Common Stock, then any Common Stock covered by such lapsed, cancelled, expired, unexercised or
cash-settled portion of such award or grant and any forfeited, lapsed, cancelled or expired LTIP
Units shall be available for the grant of other Options, SARs, Stock Awards, Other Equity-Based
Awards and settlement of Incentive Awards and Performance Units under this Plan. Any Common Stock
tendered or withheld to satisfy the grant or exercise price or tax withholding obligation pursuant
to any award shall reduce the number of shares of Common Stock available under the Plan and shall
not be available for future grants or awards. If Common Stock is issued in settlement of an SAR,
the number of shares of Common Stock available under the Plan shall be reduced by the number of
shares of Common Stock for which the SAR was exercised rather than the number of shares of Common
Stock issued in settlement of the SAR. To the extent permitted by applicable law or the rules of
any exchange on which the Common Stock is listed for trading, Common Stock issued in assumption of,
or in substitution for, any outstanding awards of any entity acquired in any form of combination by
the Company or any Affiliate shall not reduce the number of shares of Common Stock available for
issuance under the Plan. Notwithstanding the provisions of this Section 5.03, no Common Stock may
be subject to an Option or granted or awarded if such action would cause an Option intended to be
an incentive stock option to fail to qualify as such.

ARTICLE VI

OPTIONS

6.01. Award

     In accordance with the provisions of Article IV, the Committee will designate each individual
to whom an Option is to be granted and will specify the number of shares of Common Stock covered by
such awards.

6.02. Option Price

     The price per share of Common Stock purchased on the exercise of an Option shall be determined
by the Committee on the date of grant, but shall not be less than the Fair Market

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Value on the date the Option is granted. Notwithstanding the preceding sentence, the price
per share of Common Stock purchased on the exercise of any Option that is an incentive stock option
granted to an individual who is a Ten Percent Stockholder on the date such option is granted, shall
not be less than one hundred ten percent (110%) of the Fair Market Value on the date the Option is
granted. Except as provided in Article XII, the price per share of Common Stock of an outstanding
Option may not be reduced (by amendment, cancellation and new grant or otherwise) without the
approval of stockholders.

6.03. Maximum Option Period

     The maximum period in which an Option may be exercised shall be determined by the Committee on
the date of grant except that no Option shall be exercisable after the expiration of ten years from
the date such Option was granted. In the case of an incentive stock option granted to a
Participant who is a Ten Percent Stockholder on the date of grant, such Option shall not be
exercisable after the expiration of five years from the date of grant. The terms of any
Option may provide that it is exercisable for a period less than such maximum period.

6.04. Nontransferability

     Except as provided in Section 6.05, each Option granted under this Plan shall be
nontransferable except by will or by the laws of descent and distribution. In the event of any
transfer of an Option (by the Participant or his transferee), the Option and any Corresponding SAR
that relates to such Option must be transferred to the same person or persons or entity or
entities. Except as provided in Section 6.05, during the lifetime of the Participant to whom the
Option is granted, the Option may be exercised only by the Participant. No right or interest of a
Participant in any Option shall be liable for, or subject to, any lien, obligation, or liability of
such Participant.

6.05. Transferable Options

     Section 6.04 to the contrary notwithstanding, if the Agreement provides, an Option that is not
an incentive stock option may be transferred by a Participant to the Participant’s children,
grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership
in which such family members are the only partners, on such terms and conditions as may be
permitted under Rule 16b-3 under the Exchange Act as in effect from time to time. The holder of an
Option transferred pursuant to this Section shall be bound by the same terms and conditions that
governed the Option during the period that it was held by the Participant; provided, however, that
such transferee may not transfer the Option except by will or the laws of descent and distribution.
In the event of any transfer of an Option (by the Participant or his transferee), the Option and
any Corresponding SAR that relates to such Option must be transferred to the same person or persons
or entity or entities. Notwithstanding the foregoing, an Option may not be transferred for
consideration absent stockholder approval.

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6.06. Employee Status

     For purposes of determining the applicability of Section 422 of the Code (relating to
incentive stock options), or in the event that the terms of any Option provide that it may be
exercised only during employment or continued service or within a specified period of time after
termination of employment or continued service, the Committee may decide to what extent leaves of
absence for governmental or military service, illness, temporary disability, or other reasons shall
not be deemed interruptions of continuous employment or service.

6.07. Exercise

     Subject to the provisions of this Plan and the applicable Agreement, an Option may be
exercised in whole at any time or in part from time to time at such times and in compliance with
such requirements as the Committee shall determine; provided, however, that incentive stock options
(granted under the Plan and all plans of the Company and its Affiliates) may not be first
exercisable in a calendar year for Common Stock having a Fair Market Value (determined as of the
date an Option is granted) exceeding $100,000. An Option granted under this Plan may be exercised
with respect to any number of whole shares of Common Stock less than the full number for which the
Option could be exercised. A partial exercise of an Option shall not affect the right to exercise
the Option from time to time in accordance with this Plan and the applicable Agreement with respect
to the remaining shares of Common Stock subject to the Option. The exercise of an Option shall
result in the termination of any Corresponding SAR to the extent of the number of shares of Common
Stock with respect to which the Option is exercised.

6.08. Payment

     Subject to rules established by the Committee and unless otherwise provided in an Agreement,
payment of all or part of the Option price may be made in cash, certified check, by tendering
Common Stock, by attestation of ownership of Common Stock, by a broker-assisted cashless exercise
or in such other form or manner acceptable to the Committee. If Common Stock is used to pay all or
part of the Option price, the sum of the cash and cash equivalent and the Fair Market Value
(determined as of the day preceding the date of exercise) of the shares of Common Stock surrendered
or other consideration paid must not be less than the Option price of the shares for which the
Option is being exercised.

6.09. Stockholder Rights

     No Participant shall have any rights as a stockholder with respect to Common Stock subject to
an Option until the date of exercise of such Option.

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6.10. Disposition of Shares

     A Participant shall notify the Company of any sale or other disposition of Common Stock
acquired pursuant to an Option that was an incentive stock option if such sale or disposition
occurs (i) within two years of the grant of an Option or (ii) within one year of the issuance of
the Common Stock to the Participant. Such notice shall be in writing and directed to the Secretary
of the Company.

ARTICLE VII

SARS

7.01. Award

     In accordance with the provisions of Article IV, the Committee will designate each individual
to whom SARs are to be granted and will specify the number of shares of Common Stock covered by
such awards. No Participant may be granted Corresponding SARs (under the Plan and all plans of the
Company and its Affiliates) that are related to incentive stock options which are first exercisable
in any calendar year for Common Stock having an aggregate Fair Market Value (determined as of the
date the related Option is granted) that exceeds $100,000.

7.02. Maximum SAR Period

     The term of each SAR shall be determined by the Committee on the date of grant, except that no
SAR shall have a term of more than ten years from the date of grant. In the case of a
Corresponding SAR that is related to an incentive stock option granted to a Participant who is a
Ten Percent Stockholder on the date of grant, such Corresponding SAR shall not be exercisable after
the expiration of five years from the date of grant. The terms of any SAR may provide that it has a
term that is less than such maximum period.

7.03. Nontransferability

     Except as provided in Section 7.04, each SAR granted under this Plan shall be nontransferable
except by will or by the laws of descent and distribution. In the event of any such transfer, a
Corresponding SAR and the related Option must be transferred to the same person or persons or
entity or entities. Except as provided in Section 7.04, during the lifetime of the Participant to
whom the SAR is granted, the SAR may be exercised only by the Participant. No right or interest of
a Participant in any SAR shall be liable for, or subject to, any lien, obligation, or liability of
such Participant.

7.04. Transferable SARs

     Section 7.03 to the contrary notwithstanding, if the Agreement provides, an SAR, other than a
Corresponding SAR that is related to an incentive stock option, may be transferred by a

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Participant to the Participant’s children, grandchildren, spouse, one or more trusts for the
benefit of such family members or a partnership in which such family members are the only partners,
on such terms and conditions as may be permitted under Rule 16b-3 under the Exchange Act as in
effect from time to time. The holder of an SAR transferred pursuant to this Section shall be bound
by the same terms and conditions that governed the SAR during the period that it was held by the
Participant; provided, however, that such transferee may not transfer the SAR except by will or the
laws of descent and distribution. In the event of any transfer of a Corresponding SAR (by the
Participant or his transferee), the Corresponding SAR and the related Option must be transferred to
the same person or person or entity or entities. Notwithstanding the foregoing, in no event may an
SAR be transferred for consideration absent stockholder approval.

7.05. Exercise

     Subject to the provisions of this Plan and the applicable Agreement, an SAR may be exercised
in whole at any time or in part from time to time at such times and in compliance with such
requirements as the Committee shall determine; provided, however, that a Corresponding SAR that is
related to an incentive stock option may be exercised only to the extent that the related Option is
exercisable and only when the Fair Market Value exceeds the option price of the related Option. An
SAR granted under this Plan may be exercised with respect to any number of whole shares less than
the full number for which the SAR could be exercised. A partial exercise of an SAR shall not
affect the right to exercise the SAR from time to time in accordance with this Plan and the
applicable Agreement with respect to the remaining shares subject to the SAR. The exercise of a
Corresponding SAR shall result in the termination of the related Option to the extent of the number
of shares of Common Stock with respect to which the SAR is exercised.

7.06. Employee Status

     If the terms of any SAR provide that it may be exercised only during employment or continued
service or within a specified period of time after termination of employment or continued service,
the Committee may decide to what extent leaves of absence for governmental or military service,
illness, temporary disability or other reasons shall not be deemed interruptions of continuous
employment or service.

7.07. Settlement

     At the Committee’s discretion, the amount payable as a result of the exercise of an SAR may be
settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional share of
Common Stock will be deliverable upon the exercise of an SAR but a cash payment will be made in
lieu thereof.

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7.08. Stockholder Rights

     No Participant shall, as a result of receiving an SAR, have any rights as a stockholder of the
Company or any Affiliate until the date that the SAR is exercised and then only to the extent that
the SAR is settled by the issuance of Common Stock. Notwithstanding the foregoing, the Committee
may provide in an Agreement that the holder of an SAR is entitled to Dividend Equivalent Rights
during the period beginning on the date of the award and ending on the date the SAR is exercised.

ARTICLE VIII

STOCK AWARDS

8.01. Award

     In accordance with the provisions of Article IV, the Committee will designate each individual
to whom a Stock Award is to be made and will specify the number of shares of Common Stock covered
by such awards.

8.02. Vesting

     The Committee, on the date of the award, may prescribe that a Participant’s rights in a Stock
Award shall be forfeitable or otherwise restricted for a period of time or subject to such
conditions as may be set forth in the Agreement. By way of example and not of limitation, the
Committee may prescribe that a Participant’s rights in a Stock Award shall be forfeitable or
otherwise restricted subject to the attainment of objectives stated with reference to the
Company’s, an Affiliate’s or a business unit’s attainment of objectives stated with respect to
performance criteria established by the Committee.

8.03. Employee Status

     In the event that the terms of any Stock Award provide that shares may become transferable and
nonforfeitable thereunder only after completion of a specified period of employment or continuous
service, the Committee may decide in each case to what extent leaves of absence for governmental or
military service, illness, temporary disability, or other reasons shall not be deemed interruptions
of continuous employment or service.

8.04. Stockholder Rights

     Unless otherwise specified in accordance with the applicable Agreement, while the Common Stock
granted pursuant to the Stock Award may be forfeited or are nontransferable, a Participant will
have all rights of a stockholder with respect to a Stock Award, including the right to receive
dividends and vote the shares of Common Stock; provided, however, that during such period (i) a
Participant may not sell, transfer, pledge, exchange, hypothecate, or otherwise

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dispose of shares of Common Stock granted pursuant to a Stock Award, (ii) the Company shall
retain custody of the certificates representing shares of Common Stock granted pursuant to a Stock
Award, and (iii) the Participant will deliver to the Company a stock power, endorsed in blank, with
respect to each Stock Award. The limitations set forth in the preceding sentence shall not apply
after the shares of Common Stock granted under the Stock Award are transferable and are no longer
forfeitable.

ARTICLE IX

PERFORMANCE UNIT AWARDS

9.01. Award

     In accordance with the provisions of Article IV, the Committee will designate each individual
to whom an award of Performance Units is to be made and will specify the number of shares of Common
Stock or other securities or property covered by such awards. The Committee also will specify
whether Dividend Equivalent Rights are granted in conjunction with the Performance Units.

9.02. Earning the Award

     The Committee, on the date of the grant of an award, shall prescribe that the Performance
Units will be earned, and the Participant will be entitled to receive payment pursuant to the award
of Performance Units, only upon the satisfaction of performance objectives and such other criteria
as may be prescribed by the Committee.

9.03. Payment

     In the discretion of the Committee, the amount payable when an award of Performance Units is
earned may be settled in cash, by the issuance of Common Stock, by the delivery of other securities
or property or a combination thereof. A fractional share of Common Stock shall not be deliverable
when an award of Performance Units is earned, but a cash payment will be made in lieu thereof. The
amount payable when an award of Performance Units is earned shall be paid in a lump sum.

9.04. Stockholder Rights

     A Participant, as a result of receiving an award of Performance Units, shall not have any
rights as a stockholder until, and then only to the extent that, the award of Performance Units is
earned and settled in Common Stock. After an award of Performance Units is earned and settled in
Common Stock, a Participant will have all the rights of a stockholder as described in Section 8.04
hereof and the Company’s Charter.

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9.05. Nontransferability

     Except as provided in Section 9.06, Performance Units granted under this Plan shall be
nontransferable except by will or by the laws of descent and distribution. No right or interest of
a Participant in any Performance Units shall be liable for, or subject to, any lien, obligation, or
liability of such Participant.

9.06. Transferable Performance Units

     Section 9.05 to the contrary notwithstanding, if the Agreement provides, an award of
Performance Units may be transferred by a Participant to the Participant’s children, grandchildren,
spouse, one or more trusts for the benefit of such family members or a partnership in which such
family members are the only partners, on such terms and conditions as may be permitted under Rule
16b-3 under the Exchange Act as in effect from time to time. The holder of Performance Units
transferred pursuant to this Section shall be bound by the same terms and conditions that governed
the Performance Units during the period that they were held by the Participant; provided, however,
that such transferee may not transfer Performance Units except by will or the laws of descent and
distribution. Notwithstanding the foregoing, in no event may a Performance Unit be transferred for
consideration absent stockholder approval.

9.07. Employee Status

     In the event that the terms of any Performance Unit award provide that no payment will be made
unless the Participant completes a stated period of employment or continued service, the Committee
may decide to what extent leaves of absence for government or military service, illness, temporary
disability, or other reasons shall not be deemed interruptions of continuous employment or service.

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ARTICLE X

OTHER EQUITY—BASED AWARDS

10.01. Award

     In accordance with the provisions of Article IV, the Committee will designate each individual
to whom an Other Equity-Based Award is to be made and will specify the number of shares of Common
Stock or other equity interests (including LTIP Units) covered by such awards; provided, however,
that the grant of LTIP Units must satisfy the requirements of the partnership agreement of the
Operating Partnership as in effect on the date of grant. The Committee also will specify whether
Dividend Equivalent Rights are granted in conjunction with the Other Equity-Based Award.

10.02. Terms and Conditions

     The Committee, at the time an Other Equity-Based Award is made, shall specify the terms and
conditions which govern the award. The terms and conditions of an Other Equity-Based Award may
prescribe that a Participant’s rights in the Other Equity-Based Award shall be forfeitable,
nontransferable or otherwise restricted for a period of time or subject to such other conditions as
may be determined by the Committee, in its discretion and set forth in the Agreement. Other
Equity-Based Awards may be granted to Participants, either alone or in addition to other awards
granted under the Plan, and Other Equity-Based Awards may be granted in the settlement of other
Awards granted under the Plan.

10.03. Payment or Settlement

     Other Equity-Based Awards valued in whole or in part by reference to, or otherwise based on,
Common Stock, shall be payable or settled in Common Stock, cash or a combination of Common Stock
and cash, as determined by the Committee in its discretion; provided, however, that any Common
Stock that is issued on account of the conversion of LTIP Units into Common Stock shall not be
issued under the Plan. Other Equity-Based Awards denominated as equity interests other than Common
Stock may be paid or settled in shares or units of such equity interests or cash or a combination
of both as determined by the Committee in its discretion.

10.04. Employee Status

     If the terms of any Other Equity-Based Award provides that it may be earned or exercised only
during employment or continued service or within a specified period of time after termination of
employment or continued service, the Committee may decide to what extent leaves of absence for
governmental or military service, illness, temporary disability or other reasons shall not be
deemed interruptions of continuous employment or service.

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10.05. Stockholder Rights

     A Participant, as a result of receiving an Other Equity-Based Award, shall not have any rights
as a stockholder until, and then only to the extent that, the Other Equity-Based Award is earned
and settled in Common Stock.

ARTICLE XI

INCENTIVE AWARDS

11.01. Award

     In accordance with the provisions of Article IV, the Committee will designate each individual
to whom an Incentive Award is to be made.

11.02. Terms and Conditions

     The Committee, at the time an Incentive Award is made, shall specify the terms and conditions
that govern the award. Such terms and conditions may prescribe that the Incentive Award shall be
earned only to the extent that the Participant, the Company or an Affiliate, during a performance
period of at least one year, achieves objectives stated with reference to one or more performance
measures or criteria prescribed by the Committee. A goal or objective may be expressed on an
absolute basis or relative to the performance of one or more similarly situated companies or a
published index. When establishing goals and objectives, the Committee may exclude any or all
special, unusual, or extraordinary items as determined under U.S. generally accepted accounting
principles including, without limitation, the charges or costs associated with restructurings of
the Company, discontinued operations, other unusual or non-recurring items, and the cumulative
effects of accounting changes. The Committee may also adjust the performance goals for any
Incentive Award as it deems equitable in recognition of unusual or non-recurring events affecting
the Company, changes in applicable tax laws or accounting principles, or such other factors as the
Committee may determine. Such terms and conditions also may include other limitations on the
payment of Incentive Awards including, by way of example and not of limitation, requirements that
the Participant complete a specified period of employment or service with the Company or an
Affiliate or that the Company, an Affiliate, or the Participant attain stated objectives or goals
(in addition to those prescribed in accordance with the preceding sentence) as a prerequisite to
payment under an Incentive Award.

11.03. Nontransferability

     Incentive Awards granted under this Plan shall be nontransferable except by will or by the
laws of descent and distribution. No right or interest of a Participant in an Incentive Award
shall be liable for, or subject to, any lien, obligation, or liability of such Participant.

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11.04. Employee Status

     If the terms of an Incentive Award provide that a payment will be made thereunder only if the
Participant completes a stated period of employment or continued service the Committee may decide
to what extent leaves of absence for governmental or military service, illness, temporary
disability or other reasons shall not be deemed interruptions of continuous employment or service.

11.05. Settlement

     An Incentive Award that is earned shall be settled with a single lump sum payment which may be
in cash, Common Stock or a combination of cash and Common Stock, as determined by the Committee.

11.06. Shareholder Rights

     No Participant shall, as a result of receiving an Incentive Award, have any rights as a
shareholder of the Company or an Affiliate until the date that the Incentive Award is settled and
then only to the extent that the Incentive Award is settled by the issuance of shares of Common
Stock.

ARTICLE XII

ADJUSTMENT UPON CHANGE IN COMMON STOCK

     The maximum number of shares of Common Stock as to which Options, SARs, Performance Units,
Incentive Awards, Stock Awards and Other Equity-Based Awards may be granted and the terms of
outstanding Stock Awards, Options, SARs, Incentive Awards, Performance Units and Other Equity-Based
Awards shall be adjusted as the Board determines is equitably required in the event that (i) the
Company (a) effects one or more nonreciprocal transactions between the Company and its stockholders
such as a share dividend, extra-ordinary cash dividend, share split-up, subdivision or
consolidation of shares of Common Stock that affects the number or kind of Common Stock (or other
securities of the Company) or the Fair Market Value (or the value of other Company securities) and
causes a change in the Fair Market Value of the Common Stock subject to outstanding awards or (b)
engages in a transaction to which Section 424 of the Code applies or (ii) there occurs any other
event which, in the judgment of the Board necessitates such action. Any determination made under
this Article XII by the Board shall be nondiscretionary, final and conclusive.

     The issuance by the Company of shares of any class of Common Stock, or securities convertible
into shares of any class of Common Stock, for cash or property, or for labor or services, either
upon direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon
conversion of shares of Common Stock or obligations of the Company convertible into such shares of
Common Stock or other securities, shall not affect, and no adjustment by reason

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thereof shall be made with respect to, the maximum number of shares of Common Stock as to
which Options, SARs, Performance Units, Incentive Awards, Stock Awards and Other Equity-Based
Awards may be granted or the terms of outstanding Stock Awards, Incentive Awards, Options, SARs,
Performance Units or Other Equity-Based Awards.

     The Committee may make Stock Awards and may grant Options, SARs, Performance Units, Incentive
Awards or Other Equity-Based Awards in substitution for performance shares, phantom shares, stock
awards, stock options, stock appreciation rights, or similar awards held by an individual who
becomes an employee of the Company or an Affiliate in connection with a transaction described in
the first paragraph of this Article XII. Notwithstanding any provision of the Plan, the terms of
such substituted Stock Awards, SARs, Other Equity-Based Awards, Options or Performance Units shall
be as the Committee, in its discretion, determines is appropriate.

ARTICLE XIII

COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES

     No Option or SAR shall be exercisable, no Common Stock shall be issued, no certificates for
Common Stock shall be delivered, and no payment shall be made under this Plan except in compliance
with all applicable federal and state laws and regulations (including, without limitation,
withholding tax requirements), any listing agreement to which the Company is a party, and the rules
of all domestic stock exchanges on which the shares of Common Stock may be listed. The Company
shall have the right to rely on an opinion of its counsel as to such compliance. Any certificate
issued to represent Common Stock when a Stock Award is granted, a Performance Unit, Incentive Award
or Other Equity-Based Award is settled or for which an Option or SAR is exercised may bear such
legends and statements as the Committee may deem advisable to assure compliance with federal and
state laws and regulations. No Option or SAR shall be exercisable, no Stock Award or Performance
Unit shall be granted, no Common Stock shall be issued, no certificate for Common Stock shall be
delivered, and no payment shall be made under this Plan until the Company has obtained such consent
or approval as the Committee may deem advisable from regulatory bodies having jurisdiction over
such matters.

ARTICLE XIV

GENERAL PROVISIONS

14.01. Effect on Employment and Service

     Neither the adoption of this Plan, its operation, nor any documents describing or referring to
this Plan (or any part thereof), shall confer upon any individual or entity any right to continue
in the employ or service of the Company or an Affiliate or in any way affect any right and power

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of the Company or an Affiliate to terminate the employment or service of any individual or
entity at any time with or without assigning a reason therefor.

14.02. Unfunded Plan

     This Plan, insofar as it provides for grants, shall be unfunded, and the Company shall not be
required to segregate any assets that may at any time be represented by grants under this Plan.
Any liability of the Company to any person with respect to any grant under this Plan shall be based
solely upon any contractual obligations that may be created pursuant to this Plan. No such
obligation of the Company shall be deemed to be secured by any pledge of, or other encumbrance on,
any property of the Company.

14.03. Rules of Construction

     Headings are given to the articles and sections of this Plan solely as a convenience to
facilitate reference. The reference to any statute, regulation, or other provision of law shall be
construed to refer to any amendment to or successor of such provision of law.

14.04. Withholding Taxes

     Each Participant shall be responsible for satisfying any income and employment tax withholding
obligations attributable to participation in the Plan. Unless otherwise provided by the Agreement,
any such withholding tax obligations may be satisfied in cash (including from any cash payable in
settlement of an award of Performance Units, SARs or Other Equity-Based Award) or a cash equivalent
acceptable to the Committee. Except to the extent prohibited by Treasury Regulation Section
1.409A-3(j), any minimum statutory federal, state, district or city withholding tax obligations
also may be satisfied (a) by surrendering to the Company Common Stock previously acquired by the
Participant; (b) by authorizing the Company to withhold or reduce the number of shares of Common
Stock otherwise issuable to the Participant upon the exercise of an Option or SAR, the settlement
of a Performance Unit award, Incentive Award or an Other Equity-Based Award (if applicable) or the
grant or vesting of a Stock Award; or (c) by any other method as may be approved by the Committee.
If Common Stock is used to pay all or part of such withholding tax obligation, the Fair Market
Value of the shares of Common Stock surrendered, withheld or reduced shall be determined as of the
day the tax liability arises and the number of shares of Common Stock which may be withheld or
surrendered shall be limited to the number of shares of Common Stock which have a Fair Market Value
on the day preceding the date of withholding equal to the aggregate amount of such liabilities
based on the minimum statutory withholding rates for federal, state, local and foreign income tax
and payroll tax purposes that are applicable to such supplemental taxable income.

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14.05. REIT Status

     The Plan shall be interpreted and construed in a manner consistent with the Company’s status
as a REIT. No award shall be granted or awarded, and with respect to any award granted under the
Plan, such award shall not vest, be exercisable or be settled (i) to the extent that the grant,
vesting, exercise or settlement could cause the Participant or any other person to be in violation
of the stock ownership limit or any other limitation on ownership or transfer prescribed by Article
VIII of the Company’s Charter, or (ii) if, in the discretion of the Committee, the grant, vesting,
exercise or settlement of the award could impair the Company’s status as a REIT.

ARTICLE XV

CHANGE IN CONTROL

15.01. Impact of Change in Control.

     Upon a Change in Control, the Committee is authorized to cause (i) outstanding Options and
SARs to become fully exercisable, (ii) outstanding Stock Awards to become transferable and
nonforfeitable and (iii) outstanding Performance Units, Incentive Awards and Other Equity-Based
Awards to become earned and nonforfeitable in their entirety.

15.02. Assumption Upon Change in Control.

     In the event of a Change in Control, the Committee, in its discretion and without the need for
a Participant’s consent, may provide that an outstanding Option, SAR, Stock Award, Incentive Award,
Performance Unit or Other Equity-Based Award shall be assumed by, or a substitute award granted by,
the surviving entity in the Change in Control. Such assumed or substituted award shall be of the
same type of award as the original Option, SAR, Stock Award, Performance Unit, Incentive Award or
Other Equity-Based Award being assumed or substituted. The assumed or substituted award shall have
a value, as of the Control Change Date, that is substantially equal to the value of the original
award (or the difference between the Fair Market Value and the option price or Initial Value in the
case of Options and SARs) as the Committee determines is equitably required and such other terms
and conditions as may be prescribed by the Committee.

15.03. Cash-Out Upon Change in Control.

     In the event of a Change in Control, the Committee, in its discretion and without the need of
a Participant’s consent, may provide that each Option, SAR, Stock Award and Performance Unit,
Incentive Award and Other Equity-Based Award shall be cancelled in exchange for a payment. The
payment may be in cash, Common Stock or other securities or consideration received by stockholders
in the Change in Control transaction or, in the case of an Incentive Award, the entire amount that
can be paid under the Incentive Award. Except as provided in the preceding sentence with respect
to the Incentive Awards, the amount of the payment shall be an

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amount that is substantially equal to (i) the amount by which the price per share received by
stockholders in the Change in Control exceeds the option price or Initial Value in the case of an
Option and SAR, or (ii) the price per share received by stockholders for each share of Common Stock
subject to a Stock Award, Performance Unit or Other Equity-Based Award or (iii) the value of the
other securities or property in which the Performance Unit or Other Equity-Based award is
denominated. If the option price or Initial Value exceeds the price per share received by
stockholders in the Change in Control transaction, the Option or SAR may be cancelled under this
Section 15.03 without any payment to the Participant.

15.04. Limitation of Benefits

     The benefits that a Participant may be entitled to receive under this Plan and other benefits
that a Participant is entitled to receive under other plans, agreements and arrangements (which,
together with the benefits provided under this Plan, are referred to as “Payments”), may constitute
Parachute Payments that are subject to Code Sections 280G and 4999. As provided in this Section
15.04, the Parachute Payments will be reduced pursuant to this Section 15.04 if, and only to the
extent that, a reduction will allow a Participant to receive a greater Net After Tax Amount than a
Participant would receive absent a reduction.

     The Accounting Firm will first determine the amount of any Parachute Payments that are payable
to a Participant. The Accounting Firm also will determine the Net After Tax Amount attributable to
the Participant’s total Parachute Payments.

     The Accounting Firm will next determine the largest amount of Payments that may be made to the
Participant without subjecting the Participant to tax under Code Section 4999 (the “Capped
Payments”). Thereafter, the Accounting Firm will determine the Net After Tax Amount attributable
to the Capped Payments.

     The Participant will receive the total Parachute Payments or the Capped Payments, whichever
provides the Participant with the higher Net After Tax Amount. If the Participant will receive the
Capped Payments, the total Parachute Payments will be adjusted by first reducing the amount of any
benefits under this Plan or any other plan, agreement or arrangement that are not subject to
Section 409A of the Code (with the source of the reduction to be directed by the Participant) and
then by reducing the amount of any benefits under this Plan or any other plan, agreement or
arrangement that are subject to Section 409A of the Code (with the source of the reduction to be
directed by the Participant) in a manner that results in the best economic benefit to the
Participant (or, to the extent economically equivalent, in a pro rata manner). The Accounting Firm
will notify the Participant and the Company if it determines that the Parachute Payments must be
reduced to the Capped Payments and will send the Participant and the Company a copy of its detailed
calculations supporting that determination.

     As a result of the uncertainty in the application of Code Sections 280G and 4999 at the time
that the Accounting Firm makes its determinations under this Article XV, it is possible that

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amounts will have been paid or distributed to the Participant that should not have been paid
or distributed under this Section 15.04 (“Overpayments”), or that additional amounts should be paid
or distributed to the Participant under this Section 15.04 (“Underpayments”). If the Accounting
Firm determines, based on either the assertion of a deficiency by the Internal Revenue Service
against the Company or the Participant, which assertion the Accounting Firm believes has a high
probability of success or controlling precedent or substantial authority, that an Overpayment has
been made, the Participant must repay to the Company, without interest; provided, however, that no
loan will be deemed to have been made and no amount will be payable by the Participant to the
Company unless, and then only to the extent that, the deemed loan and payment would either reduce
the amount on which the Participant is subject to tax under Code Section 4999 or generate a refund
of tax imposed under Code Section 4999. If the Accounting Firm determines, based upon controlling
precedent or substantial authority, that an Underpayment has occurred, the Accounting Firm will
notify the Participant and the Company of that determination and the amount of that Underpayment
will be paid to the Participant promptly by the Company.

     For purposes of this Section 15.04, the term “Accounting Firm” means the independent
accounting firm engaged by the Company immediately before the Control Change Date. For purposes of
this Article XV, the term “Net After Tax Amount” means the amount of any Parachute Payments or
Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101(b) and 4999 and
any State or local income taxes applicable to the Participant on the date of payment. The
determination of the Net After Tax Amount shall be made using the highest combined effective rate
imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped
Payments, as applicable, in effect on the date of payment. For purposes of this Section 15.04, the
term “Parachute Payment” means a payment that is described in Code Section 280G(b)(2), determined
in accordance with Code Section 280G and the regulations promulgated or proposed thereunder.

     Notwithstanding any other provision of this Section 15.04, the limitations and provisions of
this Section 15.04 shall not apply to any Participant who, pursuant to an agreement with the
Company or the terms of another plan maintained by the Company, is entitled to indemnification or
other payment for any liability that the Participant may incur under Code Section 4999. In
addition, nothing in this Section 15.04 shall limit or otherwise supersede the provisions of any
other agreement or plan which provides that a Participant cannot receive Payments in excess of the
Capped Payments.

ARTICLE XVI

AMENDMENT

     The Board may amend or terminate this Plan at any time; provided, however, that no amendment
may adversely impair the rights of Participants with respect to outstanding awards. In addition,
an amendment will be contingent on approval of the Company’s stockholders if such approval is
required by law or the rules of any exchange on which the Common Stock is listed or if the
amendment would materially increase the benefits accruing to Participants under the Plan,

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materially increase the aggregate number of shares of Common Stock that may be issued under
the Plan (except as provided in Article XII) or materially modify the requirements as to
eligibility for participation in the Plan.

ARTICLE XVII

DURATION OF PLAN

     No Stock Award, Performance Unit Award, Option, SAR or Other Equity-Based Award may be granted
under this Plan after the day before the tenth anniversary of the date that the Plan is adopted by
the Board. Stock Awards, Performance Unit awards, Options, SARs and Other Equity-Based Awards
granted before such date shall remain valid in accordance with their terms.

ARTICLE XVIII

EFFECTIVE DATE OF PLAN

     Options, Stock Awards, Performance Units and Other Equity-Based Awards may be granted under
this Plan on and after the date that the Plan is adopted by the Board, subject to the approval of
the sole stockholder of the Company within twelve months before or after the date that the Plan is
adopted by the Board and, provided, that no award shall be exercisable, vested or settled until
such stockholder approval is obtained.

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