Document:

Form of Incentive Unit Award Agreement

 Exhibit 10.23 
  
 THOMAS PROPERTIES GROUP, INC. 
 [Form of] 
 2004 EQUITY INCENTIVE PLAN 
 INCENTIVE UNIT AWARD AGREEMENT 
  
 THIS INCENTIVE UNIT AWARD AGREEMENT (this “Agreement”), dated as of                     , is entered
into between THOMAS PROPERTIES GROUP, INC., a Delaware corporation (the “Company”), and                      (“Grantee”).
Capitalized terms used herein but not defined shall have the meanings assigned to those terms in the Thomas Properties Group, Inc. 2004 Equity Incentive Plan (the “Plan”). 
  
 1. Grant of Incentive Units. Pursuant to the Plan and the Partnership Agreement, the Company, in its capacity as the
sole general partner of the Partnership, hereby causes the Partnership to issue to Grantee              incentive units in the Partnership (“Incentive Units”). 

 
 2. Date of Grant. The effective date of the grant of the Incentive
Units is                      (“Date of Grant”). 
  
 3. Restrictions on Transfer. Incentive Units may not be transferred, sold, pledged, exchanged, assigned or otherwise
encumbered or disposed of by Grantee unless and until they are converted into Operating Partnership Units (as defined in the Partnership Agreement) pursuant to the terms of the Partnership Agreement; provided, however, that Grantee’s interest
in the Incentive Units may be transferred by will or the laws of descent and distribution. Any purported transfer, encumbrance or other disposition of Incentive Units that is in violation of this Section 3 shall be null and void, and the other party
to such purported transaction shall not obtain any rights to or interest in the Incentive Units. 
  
 4. Vesting of Incentive Units. 
  
 (a) Except as provided otherwise in this Agreement, the Incentive Units shall vest [on each of the first, second and third anniversaries]
[on the third anniversary] of the Date of Grant[; provided, however, that if the Board determines that Grantee has satisfied the management objectives established the Board and attached as Appendix B hereto as of the second anniversary of the Date
of Grant, the Incentive Units shall vest on the second anniversary of the Date of Grant]. 
  
 5. Forfeiture of Incentive Units. Any unvested Incentive Units shall be forfeited if Grantee ceases for any reason to be employed by the Company or
any Affiliate or Subsidiary at any time prior to such units vesting in accordance with Section 4 hereof, unless the Board determines to provide otherwise at the time of the cessation of Grantee’s employment. For the purposes of this Agreement,
Grantee’s employment with the Company or an Affiliate or Subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or an Affiliate or Subsidiary, by reason of (i)
the transfer of Grantee’s employment among the Company and its Affiliates and Subsidiaries, (ii) an approved leave of absence of not more than 90 days, or (iii) the period of any leave of absence required to be granted by the Company under any
law, rule, regulation or contract applicable to Grantee’s employment with the Company or any Affiliate or Subsidiary. 

 6. Employment Rights. This Agreement shall not confer on Grantee any right with respect to the
continuance of employment or other services with the Company or any Affiliate or Subsidiary. No provision of this Agreement shall limit in any way whatsoever any right that the Company or an Affiliate or Subsidiary may otherwise have to terminate
the employment of Grantee at any time. 
  
 7.
Communications. All notices, demands and other communications required or permitted hereunder or designated to be given with respect to the rights or interests covered by this Agreement shall be deemed to have been properly given or delivered
when delivered personally or sent by certified or registered mail, return receipt requested, U.S. mail or reputable overnight carrier, with full postage prepaid and addressed to the parties as follows: 
  

			
	If to the Company, at:	 	ARCO Plaza
	 	 	515 South Flower Street
	 	 	Los Angeles, California 90071
	 	 	Attention: Corporate Secretary
		
	If to Grantee, at:	 	Grantee’s address provided by Grantee on the last page hereof

  
 Either the Company or Grantee may
change the above designated address by written notice to the other specifying such new address. 
  
 8. Interpretation. The interpretation and construction of this Agreement by the Board shall be final and conclusive. No member of the Board shall
be liable for any such action or determination made in good faith. 
  
 9. Amendments. The Plan may be amended, suspended, or terminated and this Agreement may be amended by the Board for purposes of satisfying changes in the law or for any other lawful purpose, provided that (i) no such action shall
adversely affect Grantee’s rights under this Agreement without Grantee’s consent, and (ii) all such amendments shall be in writing. 
  
 10. Integration. Notwithstanding anything in this Agreement to the contrary, this Agreement is subject to all of the terms and conditions set forth
in the Plan and the Partnership Agreement, copies of which have been made available to Grantee and is available upon request to the Corporate Secretary at the address specified in Section 7 herein, and which are incorporated herein by reference. As
such, this Agreement, the Plan and the Partnership Agreement embody the entire agreement and understanding of the Company and Grantee and supersede any prior understandings or agreements, whether written or oral, with respect to the grant of the
Incentive Units. 
  
 11. Covenants, Representations and
Warranties. Grantee hereby makes the covenants, representations and warranties as set forth in Appendix A attached hereto. All of such covenants, representations and warranties shall survive the execution and delivery of this Agreement by
Grantee. Grantee shall immediately notify the Partnership upon discovering any of the representations and warranties set forth in Appendix A were false when made or have, as a result of changes in circumstances, become false. 
  

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 12. Severance. In the event that one or more of the provisions of this Agreement shall be
invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof and the remaining provisions hereof shall continue to be valid and fully enforceable.

  
 13. Governing Law. This Agreement is made under, and
shall be construed in accordance with, the laws of the State of Delaware, without regard to conflict of laws principles thereof. 
  
 14. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one and the same instrument. 
  

 3 

 IN WITNESS WHEREOF, this Agreement is executed by a duly authorized representative of the Company on the
day and year first above written. 
  

			
	THOMAS PROPERTIES GROUP, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 The undersigned Grantee
acknowledges receipt of an executed original of this Agreement and accepts the Incentive Units subject to the applicable terms and conditions of the Plan, the Partnership Agreement (copies of which have been provided to Grantee) and this Agreement.

  

					
	Date:	 	  

	 	  

	 	 	 	 	Grantee

  
 GRANTEE: Please complete/update the
following information, as applicable. 
  

			
	Name:	 	  

	Home Address:	 	  
  

	 	 	  

	 	 	  

	Social Security Number:	 	  
  

  

 4 

 APPENDIX A 
  
 GRANTEE’S COVENANTS, REPRESENTATIONS AND WARRANTIES 
  
 Grantee hereby represents, warrants and covenants as follows: 
  
 1. One or more of the following categories correctly describes the Grantee, and Grantee has so indicated by marking in the
boxes beside the category or categories which so describe Grantee. 
  

					
	CHECK ALL BOXES THAT APPLY
			
	 ̈	  	(a)	  	Grantee is an individual with a net worth (or net worth with his or her spouse) in excess of $1 million.
			
	 ̈	  	(b)	  	Grantee is an individual with income (without including any income of Grantee’s spouse) in excess of $200,000, or joint income with Grantee’s spouse in excess of $300,000, in each
of the two most recent years, and Grantee reasonably expects to reach the same income level in the current year.
			
	 ̈	  	(c)	  	Grantee is a natural person who is a director or executive officer (as defined below) of the Partnership, the Company, an Affiliate and/or a Subsidiary. As used herein, “executive
officer” shall mean the president, any vice president in charge of a principal business unit, division or function (such as sales, administration or finance), any other officer who performs a policy-making function, or any other person who
performs similar policy-making functions for the Partnership, the Company, an Affiliate and/or a Subsidiary.

  
 2. Grantee has had an
opportunity to review the following documents (the “Background Documents”), as applicable: 
  
 (a) The Company’s latest annual report to stockholders; 
  
 (b) The Company’s proxy statement for its most recent Annual Meeting; 
  
 (c) The Company’s report on Form 10-K for the fiscal
year most recently ended; 
  
 (d) 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 report described in clause (c) above; 
  
 (e) Each of the Company’s current report(s) on Form
8-K, if any, filed since the end of the fiscal year most recently ended; 

 (f) The Partnership Agreement; 
  
 (g) The Plan; and 
  
 (h) The Company’s Certificate of Incorporation, as
amended and restated through the date hereof. 
  
 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 Grantee as a holder of Incentive Units shall not
constitute an offer of Incentive Units until such determination of suitability shall be made. 
  
 3. Grantee hereby represents and warrants the following: 
  
 (a) Grantee either (i) is an “accredited investor” as defined in Rule 501(a) under the Securities Act of 1933, as amended (the
“Securities Act”), or (ii) by reason of his or her business and financial experience, together with the business and financial experience of those persons, if any, retained by Grantee to represent or advise him or her with respect to the
grant to him or her of Incentive Units, the potential conversion of the Incentive Units into Operating Partnership Units and the potential redemption of such Operating Partnership Units for shares of common stock of the Company (“Common
Shares”), has such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that he or she is capable of (A) evaluating the merits and risks of an investment in the Partnership
and potential investment in the Company and of making an informed investment decision, (B) protecting his or her own interest or has engaged representatives or advisors to assist him or her in protecting his or her interests, and (C) bearing the
economic risk of such investment. 
  
 (b) Grantee
understands and acknowledges that (i) the award of Incentive Units under the Plan involves risks different from, and in certain circumstances substantially greater than those involved in, an award of a comparable number of Restricted Shares under
the Plan, (ii) 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 Grantee is or by reason
of the award of Incentive Units may become subject, to his or her particular situation, (iii) Grantee has not received or relied upon business or tax advice from the Partnership, the Company, an Affiliate or a Subsidiary, or any of their respective
employees, agents, consultants or advisors, (iv) Grantee provides 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 Grantee believes to be necessary and appropriate to make an informed decision to accept this grant of Incentive Units, and (v) an investment in the Partnership and/or the Company involves substantial risks. Grantee has been given the
opportunity to make a thorough investigation of matters relevant to the Incentive 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). Grantee has been 

 
afforded the opportunity to obtain any additional information (including any exhibits to the Background Documents) deemed necessary by Grantee to verify the
accuracy of information conveyed to Grantee. Grantee confirms that all documents, records, and books pertaining to his or her receipt of Incentive Units which were requested by Grantee have been made available or delivered to Grantee. 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 Incentive Units. GRANTEE HAS RELIED UPON, AND IS MAKING
HIS OR HER DECISION SOLELY UPON, THE BACKGROUND DOCUMENTS AND OTHER WRITTEN INFORMATION PROVIDED TO GRANTEE BY THE PARTNERSHIP OR THE COMPANY. 
  
 (c) The Incentive Units to be issued, the Operating Partnership Units issuable upon the conversion of the Incentive Units, if any, and any
Common Shares issued in connection with the redemption of any such Operating Partnership Units, if any, will be acquired for the account of 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 Grantee’s right (subject to the terms of the Partnership Agreement, the Plan and this Agreement) at all times to sell or otherwise
dispose of all or any part of his or her Incentive Units, Operating Partnership Units or Common 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. 
  
 (d) Grantee acknowledges that (i) neither the Incentive Units to be issued, nor the Operating Partnership Units issuable upon conversation of the Incentive Units, if any, 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 Incentive Units or Operating Partnership Units are represented by certificates, such certificates will
bear a legend to such effect, (ii) 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 Grantee contained herein, (iii) such Incentive
Units, or Operating Partnership Units, therefore, cannot be resold unless registered under the Securities Act and applicable state securities laws, or unless an exemption from registration is available, (iv) there is no public market for such
Incentive Units and Operating Partnership Units, and (v) neither the Partnership nor the Company has any obligation or intention to register such Incentive Units or the Operating Partnership Units issuable upon conversion of the Incentive Units, if
any, 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 Operating Partnership Units for Common
Shares, if any, the Company currently intends to issue such Common Shares under the Partnership Agreement and pursuant to a Registration Statement on Form S-8 under the Securities Act, to the extent that Grantee is eligible to receive such Common
Shares under the Partnership Agreement at the time of such issuance, the Company has filed a Form S-8 Registration Statement with the Securities and Exchange Commission registering the issuance of such Common Shares and such Form S-8 is effective at
the time of the 

 
issuance of such Common Shares. Grantee hereby acknowledges that because of the restrictions on transfer or assignment of the Incentive Units issued
hereunder and the Operating Partnership Units issuable upon the potential conversion of the Incentive Units, which are set forth in the Partnership Agreement, Grantee may have to bear the economic risk of his or her ownership of Incentive Units
issued hereunder and the Operating Partnership Units issuable upon conversion of the Incentive Units for an indefinite period of time. 
  
 (e) Grantee has determined that Incentive Units are a suitable investment for Grantee. 
  
 (f) No representations or warranties have been made to
Grantee by the Partnership, the Company, and Affiliate or a Subsidiary, or any officer, director, stockholder or agent of any of them, and the Grantee has received no information relating to an investment in the Partnership or the receipt of
Incentive Units except for the information specified in Paragraph 2 of this Appendix. 
  
 4. The representations of Grantee as set forth above are true and complete to the best of the information and belief of Grantee, and the Partnership shall be notified promptly of any changes in the foregoing
representations. 

 APPENDIX B 
  
 Management ObjectivesForm of Option Award Agreement

 Exhibit 10.24 
  
 THOMAS PROPERTIES GROUP, INC. 
 [Form of] 
 2004 EQUITY INCENTIVE PLAN 
 OPTION AWARD AGREEMENT 
  
 THIS OPTION AWARD AGREEMENT (this “Agreement”), dated as of                     , is entered into
between THOMAS PROPERTIES GROUP, INC. a Delaware corporation (the “Company”), and                      (“Optionee”).
Capitalized terms used herein but not defined shall have the meanings assigned to those terms in the Thomas Property Group, Inc. 2004 Equity Incentive Plan (the “Plan”). 
  
 1. Grant of Option Right. Pursuant to the Plan, the Company hereby grants to Optionee, as a Participant in the Plan
and effective as of the Date of Grant (as defined in Section 3), an option right (“Option Right”) to purchase              shares (“Option Shares”) of the
Company’s common stock, par value $0.01 per share (“Common Shares”), at the price of $             per share (the “Option Price”). 
  
 2. Type of Option Right. The Option Right is intended to be a
nonqualified stock option and shall not be treated as an “incentive stock option” within the meaning of Section 422 of the Code. 
  
 3. Date of Grant. The effective date of the grant of this Option Right is
                     (“Date of Grant”). 
  
 4. Date of Expiration. This Option Right shall expire on the tenth anniversary of the Date of Grant (the “Date of Expiration”), unless
earlier terminated under Section 7(a). 
  
 5. Vesting of
Option Right. 
  
 (a) Except as otherwise
provided in this Agreement, the Option Right shall become vested and exercisable to the extent of         % of the Option Shares on each of the first, second and third anniversaries of the Date of
Grant[; provided, however, that if the Board determines that Optionee has satisfied the management objectives established by the Board and attached as Appendix B hereto as of the
             anniversary of the Date of Grant, the Option Right shall become fully vested and exercisable on the
             anniversary of the Date of Grant]. 
  
 (b) Notwithstanding the provisions of Section 5(a) above, the Option Right shall become immediately vested and exercisable in full upon
the occurrence of a Change in Control, as defined in the Plan. 
  
 (c) Notwithstanding Section 5(a) above, the Board, in its sole discretion, may determine within 60 days following one of the events described in clauses (i) through (iii) below that the Option Right shall become
immediately exercisable in full (i) if Optionee becomes permanently disabled (as determined by the Board), (ii) if Optionee dies while an employee of the Company, an Affiliate or a Subsidiary, (iii) if Optionee retires at or after the earliest
voluntary retirement age permitted by his or her employer or with the consent of the Board, or (iv) under other special circumstances. 

 6. Manner of Exercise. 
  
 (a) To the extent that the Option Right is exercisable in accordance with Section 5, the Option Right may be
exercised by Optionee at any time, or from time to time, in whole or in part on or prior to the Termination Date; provided, however, that Optionee must exercise the Option Right in multiples of 100 Option Shares unless fewer than 100 Option Shares
are available for purchase by Optionee under this Agreement at the time of exercise. 
  
 (b) Optionee shall exercise the Option Right by delivering to the Company an Option Exercise Notice, in the form attached hereto as
Appendix A, which notice shall specify the number of Option Shares to be purchased and be accompanied by payment in full of the Option Price. 
  
 (c) The Option Price shall be payable (i) in cash or check acceptable to the Company, (ii) by the actual or constructive transfer to the
Company of Common Shares owned by Optionee for at least six months, or (iii) by a combination of the foregoing. 
  
 (d) The Company’s obligation to deliver Option Shares to Optionee is subject to and conditioned upon Optionee satisfying all tax
obligations associated with Optionee’s exercise of the Option Right. The Company and its Affiliates and Subsidiaries, as applicable, shall be entitled to deduct from any payment otherwise due to Optionee the amount necessary to satisfy all such
taxes. 
  
 (e) Upon full payment of the Option
Price and satisfaction of all applicable tax obligations, and subject to the applicable terms and conditions of the Plan and the terms and conditions of this Agreement, the Company will cause certificates for the Option Shares purchased hereunder to
be delivered to Optionee. 
  
 7. Termination. 

 
 (a) The Option Right shall terminate on the earliest of
the following dates (such date, the “Termination Date”): 
  
 (i) 90 days after Optionee’s employment with the Company, an Affiliate or a Subsidiary is terminated for any reason other than permanent disability (as determined by the Board) or death; provided, however, that
Optionee’s Option Right shall terminate immediately if Optionee is terminated for cause. For purposes of the foregoing, whether Optionee has been terminated for cause shall be determined by the Board in its reasonable discretion. 
  
 (ii) One year after Optionee becomes permanently disabled
(as determined by the Board) or dies, if Optionee dies or becomes permanently disabled while an employee of the Company or an Affiliate or Subsidiary; or 
  

 2 

 (iii) The Date of Expiration. 
  
 (b) Subject to Section 5(c), during the 90-day period
referred to in Section 7(a)(i) above and the one-year period referred to in Section 7(a)(ii) above, the Option Right may be exercised only to the extent that, at the time that Optionee ceases to be an employee of the Company or an Affiliate or a
Subsidiary, it is exercisable pursuant to Section 5 hereof. 
  
 (c) For the purposes of this Agreement, the continuous employment of Optionee with the Company, an Affiliate or a Subsidiary shall not be deemed to have been interrupted, and Optionee shall not be deemed to have
ceased to be an employee of the Company, an Affiliate or Subsidiary by reason of (i) the transfer of Optionee’s employment among the Company and its Affiliates and Subsidiaries, (ii) an approved leave of absence of not more than 90 days, or
(iii) the period of any leave of absence required to be granted by the Company under any law, rule, regulation or contract applicable to Optionee’s employment with the Company or any Affiliate or Subsidiary. 
  
 8. Share Certificates. All certificates evidencing Option Shares
purchased pursuant hereto, and any certificates for Common Shares issued as dividends on, in exchange of, or as replacements for, certificates evidencing Option Shares which, in the opinion of counsel for the Company, are subject to similar legal
requirements, shall have endorsed thereon before issuance such restrictive or other legends as the Company’s counsel may deem necessary or advisable. The Company and any transfer agent shall not be required to register or record the transfer of
any such shares unless and until the Company or its transfer agent shall have received from Optionee’s counsel an opinion, in a form satisfactory to the Company, that any such transfer will not be in violation of any applicable law, rule or
regulation. Optionee agrees not to sell, assign, pledge or otherwise dispose of any Option Shares or any Common Shares that are subject to restrictions on transfer described in this Section 8 without the Company first receiving such an opinion.

  
 9. Transfer. The Option Right may not be transferred by
Optionee except by will or the laws of descent and distribution and may not be exercised during the lifetime of Optionee except by Optionee or Optionee’s guardian or legal representative acting on behalf of Optionee in a fiduciary capacity
under state law and court supervision. 
  
 10. Compliance with
Law. The Company shall make reasonable efforts to comply with all applicable federal or state securities laws; provided, however, that notwithstanding any other provision of this Agreement, the Option Right shall not be exercisable if the
exercise and issuance of the Option Shares would result in a violation of any such laws. 
  
 11. Employment Rights. This Agreement shall not confer on Optionee any right with respect to the continuance of employment or other service with
the Company or any Affiliate or Subsidiary. No provision of this Agreement shall limit in any way whatsoever any right that the Company or an Affiliate or Subsidiary may otherwise have to terminate the employment of Optionee at any time. 

 

 3 

 12. Communications. All notices, demands and other communications required or permitted hereunder
or designated to be given with respect to the rights or interests covered by this Agreement shall be deemed to have been properly given or delivered when delivered personally or sent by certified or registered mail, return receipt requested, U.S.
mail or reputable overnight carrier, with full postage prepaid and addressed to the parties as follows: 
  

			
	If to the Company, at:	 	ARCO Plaza
	 	 	515 South Flower Street
	 	 	Los Angeles, California 90071
	 	 	Attention: Corporate Secretary
		
	If to Optionee, at:	 	Optionee’s address provided by Optionee on the last page hereof

  
 Either the Company or Optionee may
change the above designated address by written notice to the other specifying such new address. 
  
 13. Interpretation. The interpretation and construction of this Agreement by the Board shall be final and conclusive. No member of the Board shall
be liable for any such action or determination made in good faith. 
  
 14. Amendments. The Plan may be amended, suspended or terminated and this Agreement may be amended by the Board for purposes of satisfying changes in the law or for any other lawful purposes, provided that (i) no such action shall
adversely affect Optionee’s rights under this Agreement without Optionee’s consent, and (ii) all such amendments shall be in writing. 
  
 15. Integration. The Option Right is granted pursuant to the Plan. Notwithstanding anything in this Agreement to the contrary, this Agreement is
subject to all of the terms and conditions of the Plan, a copy of which has been made available to the Optionee and is available upon request to the Corporate Secretary at the address specified in Section 12 and which is incorporated herein by
reference. As such, this Agreement and the Plan embody the entire agreement and understanding of the Company and Optionee and supersede any prior understandings or agreements, whether written or oral, with respect to the Option Right. 
  
 16. Severance. In the event that one or more of the provisions of this
Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof and the remaining provisions hereof shall continue to be valid and
fully enforceable. 
  
 17. Governing Law. This Agreement is
made under, and shall be construed in accordance with, the laws of the State of Delaware, without regard to the conflict of laws principles thereof. 
  
 18. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one and the same instrument. 
  

 4 

 IN WITNESS WHEREOF, this Agreement is executed by a duly authorized representative of the Company on the
day and year first above written. 
  

			
	THOMAS PROPERTIES GROUP, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 The undersigned Optionee hereby
acknowledges receipt of an executed original of this Agreement and accepts the Option Right subject to the applicable terms and conditions of the Plan and the terms and conditions hereinabove set forth. 
  

					
	 Date:
	 	  

	 	

	 	 	 	 	Optionee

  
 OPTIONEE: Please complete/update the
following information, as applicable. 
  

			
	 Name:
	 	  

	 Home Address:
	 	  
  

	 	 	  

	 	 	  

	 Social Security Number:
	 	  
  

  

 5 

 APPENDIX A 
  
 OPTION EXERCISE NOTICE 
 You must sign this Option Exercise Notice before submitting it to the Company 
  
 OPTIONEE INFORMATION 
  

							
	Name:	 	_________________________________	  	Address:	  	________________________________
			
	 Social Security Number:

	  	 	  	________________________________

  
 OPTION INFORMATION

  

							
	 Date of Grant:
	  	________________________________	  	Option Price per Common Share: $	  	________________________________

  
 Total number of Common Shares covered
by your Option Right:                                     

  
 EXERCISE INFORMATION 
  
 Number of Common Shares for which you are exercising your Option Right:
                                        
             
  
 Total purchase price for the Common Shares that you are electing to purchase:
                                        
             
  

			
	 Form(s) of payment enclosed:
	  	 ̈ Check for
$                    , payable to Thomas Properties Group, Inc.
		
	 	  	 ̈ Cash, in the amount of
$                    
		
	 	  	 ̈ Certificate[s] for
                     Common Shares that I have owned for at least six months. (These Common Shares will be valued as of the date this Option
Exercise Notice is received by the Company.)

  
 Unless you indicate otherwise, the
Common Shares will be issued in your name only. If you wish to have the Common Shares issued in both your name and your spouse’s name, check the appropriate box below: 
  
  ̈ Issue the Common Shares in the
names of my spouse and myself as community property. 
  
  ̈ Issue the Common Shares in the names of my spouse and myself as joint tenants with the right of survivorship. 
  

			
	 My spouse’s name (if applicable):
	  	________________________________________________________________

  
 OPTIONEE’S
REPRESENTATIONS 
  
 1. I acknowledge that I have received, read and
understood my Option Award Agreement. 
  
 2. I acknowledge that I am acquiring the
Common Shares subject to all other terms of the Company’s 2004 Equity Incentive Plan and my Option Award Agreement. 
  
 3. I acknowledge that I have consulted with any tax consultant(s) that I deem advisable in connection with the purchase or disposition of the Common Shares and that I am
not relying on the Company for any tax, legal or other advice. I also acknowledge that the Company and any of its affiliates or subsidiaries, as applicable, shall be entitled to deduct from any payment otherwise due to me the amount necessary to
satisfy all applicable taxes associated with my receipt of the Common Shares. 
  

			
	Signature:	  	Date:
		
	  

	  	  

  
  

 APPENDIX B 
  
 Management Objectives

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