Document:

Time-Based Restricted Stock Units Agreement - Christopher C. Rising

 
Exhibit 10.9 
 TIME-BASED RESTRICTED STOCK UNITS AGREEMENT 
 THIS TIME-BASED RESTRICTED STOCK UNITS AGREEMENT (this “Agreement”) is made effective as of May 17, 2008 (the “Grant Date”),
between Maguire Properties, Inc., a Maryland corporation (the “Company”), Maguire Properties, L.P., a Maryland limited partnership (the “Partnership”), and Christopher C. Rising (the “Executive” or “Restricted
Stock Unit Holder”). 
 WHEREAS, the Company and the Partnership desire to employ Executive and have entered into an Employment
Agreement with the Executive concurrently herewith (the “Employment Agreement”) embodying the terms of such employment, and this Agreement is entered into in connection with the Employment Agreement; 
 WHEREAS, the Company has established the Second Amended and Restated 2003 Incentive Award Plan of Maguire Properties, Inc., Maguire Properties Services,
Inc. and Maguire Properties, L.P. (the “Plan”); 
 WHEREAS, the Company wishes to carry out the Plan (the terms of which are hereby
incorporated by reference and made a part of this Agreement); 
 WHEREAS, Section 8.5 of the Plan provides for the issuance of shares of
the Company’s common stock, par value $.01 per share (the “Common Stock”), pursuant to Deferred Stock awards (“Restricted Stock Units”); 
 WHEREAS, Section 8.3 of the Plan provides for the issuance of Dividend Equivalents awards which may be converted to additional shares of Common Stock by such formula and at such time and subject to such
limitations as may be determined by the Committee appointed to administer the Plan; 
 WHEREAS, the Compensation Committee of the Board of
Directors, appointed to administer the Plan, has determined that it would be to the advantage and in the best interest of the Company and its stockholders to grant to the Executive the Restricted Stock Units and Dividend Equivalents awards for
ordinary quarterly cash dividends as provided for herein as an inducement to the Executive to enter into or remain in the service of the Company pursuant to the terms of the Employment Agreement, and has advised the Company thereof and instructed
the undersigned officer to issue said Restricted Stock Units and Dividend Equivalents awards; and 
 WHEREAS, all capitalized terms used
herein without definition shall have the meanings ascribed to such terms in this Agreement (including terms which are defined herein by reference to the Employment Agreement) or, if not defined herein, in the Plan; 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto do hereby agree as follows: 

 ARTICLE I. 
 AWARDS OF RESTRICTED STOCK UNITS AND DIVIDEND EQUIVALENTS 
 Section 1.1 – Awards of
Restricted Stock Units and Dividend Equivalents 
 (a) For good and valuable consideration, on the Grant Date the Company hereby grants to the
Executive Restricted Stock Units for 79,250 shares of Common Stock upon the terms and conditions set forth in this Agreement. Each Restricted Stock Unit represents the right to receive one share of Common Stock at the times and subject to the
conditions set forth herein, upon payment of the purchase price of $0.01 per share of Common Stock without commission or other charge. The Company shall withhold this purchase price from the number of shares of Common Stock to be distributed, unless
the Executive elects to pay this purchase price in cash by providing written notice to the Company of such election no less than 15 days prior to the date of which such shares are to be issued. 
 (b) Pursuant to Section 11.3 of the Plan, the Company agrees to make proportionate adjustments to the number of outstanding Restricted Stock Units
(including, without limitation, Restricted Stock Units issued in connection with the deemed reinvestment of Dividend Equivalents) as provided in Appendix A to this Agreement or, if not specifically provided for in Appendix A, as provided in
Section 2.5 hereof or Section 11.3 of the Plan, it being understood that any such adjustment to the number of outstanding Restricted Stock Units shall be made with respect to any particular outstanding Restricted Stock Unit until such time
as such Restricted Stock Unit expires, is forfeited or is actually distributed in shares of Common Stock or paid in cash hereunder. 
 (c)
The Company hereby grants to the Executive a Dividend Equivalents award with respect to each Restricted Stock Unit granted pursuant to this Agreement for all ordinary quarterly cash dividends which are paid to all or substantially all holders of the
outstanding shares of Common Stock between the Grant Date and the date when the Restricted Stock Unit is distributed or paid to the Executive or forfeited or expires. The Dividend Equivalents award for each Restricted Stock Unit shall be equal to
the amount of cash which is paid as a dividend on one share of Common Stock. All such Dividend Equivalents shall be credited to the Executive and be deemed to be reinvested in additional Restricted Stock Units as of the date of payment of any such
dividend based on the Fair Market Value of a share of Common Stock on such date. Each additional Restricted Stock Unit which results from such deemed reinvestment of Dividend Equivalents granted hereunder shall be subject to the same vesting,
distribution or payment, adjustment and other provisions which apply to the underlying Restricted Stock Unit to which such additional Restricted Stock Unit relates. 
 Notwithstanding anything to the contrary anywhere else in this Agreement, the Restricted Stock Units and Dividend Equivalents awards granted under this Agreement are subject to the terms, definitions and provisions of
this Agreement and the Plan, which is incorporated 

  

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herein by reference; provided, however, that in the event of any conflict between the provisions of this Agreement and those of the Plan, the
provisions of this Agreement shall control. 
 Section 1.2 – Consideration to Company 
 In consideration for the grant of Restricted Stock Units and Dividend Equivalents awards provided for in this Agreement, the Executive agrees to render
services to the Company pursuant to the terms of the Employment Agreement. Nothing in this Agreement or in the Plan shall confer upon the Executive any right to continue in the service of the Company, the Partnership, or any Subsidiary or shall
interfere with or restrict in any way the rights of the Company, the Partnership, or any Subsidiary, which are hereby expressly reserved, to discharge the Executive at any time for any reason whatsoever, with or without cause, it being understood
that the foregoing shall not be deemed to reduce or otherwise adversely affect the intended benefits conferred upon the Executive by this Agreement or the Employment Agreement. 
 ARTICLE II. 
 VESTING AND PAYMENT 
 Section 2.1 – Vesting of Restricted Stock Units and Dividend Equivalents 
 (a) Subject to paragraphs (b), (c) and (d) below and to Section 2.2 hereof, the Restricted Stock Units shall vest in cumulative
installments as follows: 
 (i) Twenty percent (20%) of the Restricted Stock Units shall vest on the first anniversary of
the Grant Date; 
 (ii) Twenty percent (20%) of the Restricted Stock Units shall vest on the second anniversary of the
Grant Date; 
 (iii) Twenty percent (20%) of the Restricted Stock Units shall vest on the third anniversary of the Grant
Date; 
 (iv) Twenty percent (20%) of the Restricted Stock Units shall vest on the fourth anniversary of the Grant Date;
and 
 (v) Twenty percent (20%) of the Restricted Stock Units shall vest on the fifth anniversary of the Grant Date.

 (b) Notwithstanding any provision to the contrary in paragraph (a) above, after the first anniversary of the Grant Date the
Restricted Stock Units shall vest on a daily pro rata basis between each anniversary of the Grant Date, such that on the date of any determination an additional number of Restricted Stock Units shall be vested (rounded to the nearest whole share)
equal to the product of (A) the number of Restricted Stock Units which would otherwise vest on the next anniversary of the Grant Date under paragraph (a) above, and (B) a fraction the numerator of 

  

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which shall be the number of days which have elapsed since the immediately preceding anniversary of the Grant Date and the denominator of which shall be 365.

 (c) Each additional Restricted Stock Unit which results from adjustments made pursuant to Section 1.1(b) hereof shall vest whenever
the underlying Restricted Stock Unit to which such additional Restricted Stock Unit relates vests. 
 (d) Each additional Restricted Stock
Unit which results from deemed reinvestments of Dividend Equivalents pursuant to Section 1.1(c) hereof shall vest whenever the underlying Restricted Stock Unit to which such additional Restricted Stock Unit relates vests. 
 Section 2.2 – Forfeiture of Unvested Restricted Stock Units and Dividend Equivalents 
 Immediately upon the Executive’s Separation from Service (as defined in the Employment Agreement), the Executive shall forfeit any and all
Restricted Stock Units and Dividend Equivalents awards granted under this Agreement which have not vested or do not vest on or prior to the date on which the Executive’s Separation from Service occurs, and the Executive’s rights in any
such Restricted Stock Units and Dividend Equivalents awards which are not so vested shall lapse and expire; provided, however, that no such forfeiture shall exist and all Restricted Stock Units and Dividend Equivalents awards granted
under this Agreement shall vest in the event of: 
 (a) The Executive’s Separation from Service by reason of a termination by the Company
without Cause or by the Executive for Good Reason or due to the Executive’s death or Disability (as such capitalized terms are defined in the Employment Agreement); or 
 (b) The occurrence of a Change in Control (as defined in the Employment Agreement). 
 Section 2.3 – Distribution or Payment of Restricted Stock Units 
 (a) All of the Executive’s Restricted Stock Units which are then vested under Sections 2.1 or 2.2 hereof shall be distributed in shares of Common Stock or, at the option of the Company, paid in cash on the
earliest to occur of the following dates: 
 (i) the fifth anniversary of the Grant Date; 
 (ii) the date of the occurrence of a Change in Control (as defined in the Employment Agreement), but only if such transaction or event
constitutes a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5); or 
 (iii)
subject to Section 2.3(b), the date of the Executive’s Separation from Service (as defined in the Employment Agreement) for any reason. 
 No
distribution or payment of the Executive’s vested Restricted Stock Units shall be made pursuant to Section 2.3(a)(ii) above upon the occurrence of a Change in Control (as defined in the 

  

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Employment Agreement) that does not constitute a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5).

 (b) Notwithstanding anything to the contrary in this Agreement, no Restricted Stock Unit shall be distributed or paid to the Executive
pursuant to Section 2.3(a)(iii) hereof during the 6-month period following the Executive’s “separation from service” (within the meaning of Section 409A(a)(2)(A)(i) of the Code) if the Company determines that paying such
amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the distribution or payment of any of the Executive’s Restricted Stock Units is delayed as a result
of the previous sentence, then on the first business day following the end of such 6-month period (or such earlier date upon which such amount can be paid under Section 409A of the Code without resulting in a prohibited distribution, including
as a result of the Executive’s death), such Restricted Stock Units shall be distributed in shares of Common Stock or, at the option of the Company, paid in cash. 
 (c) In the event that the Company elects to distribute the Executive’s Restricted Stock Units in shares of Common Stock, the Company shall make such distribution not later than the third business day after it
receives written notice or has actual knowledge of an event requiring such distribution, provided that any such distribution made pursuant to Section 2.3(a)(ii) above upon the date of the occurrence of a Change in Control that constitutes a
“change in control event” (as defined in Treasury Regulation Section 1.409A-3(i)(5)) shall be made or deemed made immediately preceding and effective upon the occurrence of such transaction or event. 
 (d) In the event that the Company elects to make payment of the Executive’s Restricted Stock Units in cash, the amount payable in cash for each
Restricted Stock Unit shall be equal to the Fair Market Value of a share of Common Stock on the day immediately preceding the applicable distribution or payment date under Section 2.3(a) and (b) above. 
 (e) All distributions made in shares of Common Stock shall be made by the Company in the form of whole shares of Common Stock, and any fractional share
shall be distributed in cash in an amount equal to the value of such fractional share determined based on the Fair Market Value as of the date immediately prior to such distribution. 
 (f) The time of distribution of the Restricted Stock Units under this Agreement may not be changed except as may be permitted by the Administrator in
accordance with Section 409A of the Code and the applicable Treasury Regulations promulgated thereunder. 
 Section 2.4 –
Restricted Stock Units Not Transferable 
 Neither the Restricted Stock Units or Dividend Equivalents nor any interest or right therein or
part thereof shall be liable for the debts, contracts, or engagements of the Executive or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether
such disposition be voluntary or involuntary or by operation of law or by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy) and any attempted disposition thereof shall be null and void and

  

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of no effect; provided, however, that this Section 2.4 shall not prevent transfers by will or by the applicable laws of descent and
distribution or pursuant to a domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder. 
 Section 2.5 – Restricted Stock Units on New Shares 
 In the event that the outstanding shares of Common Stock are changed into or exchanged for a different number or kind of capital stock or other securities of the Company or of another corporation or other entity by
reason of merger, consolidation, combination, recapitalization, reclassification, reorganization, stock split, stock dividend or combination of shares, or otherwise, such new or additional or different shares or securities which are issued upon
conversion of or in exchange or substitution for one share of Common Stock shall be substituted as the property which the Executive will be entitled to receive in distribution or payment for each Restricted Stock Unit pursuant to Section 2.3
hereof, unless the Committee with the Executive’s consent provides for the substitution of new or additional or different shares or securities. 
 ARTICLE III. 
 MISCELLANEOUS 
 Section 3.1 – Holding Period and Additional Restrictions as to Ownership and Transfer 
 (a) Notwithstanding any provision of this Agreement to the contrary, in the event that the grant of the Restricted Stock Units is not exempt under Section 16 of the Exchange Act on the Grant Date, the Company
will make any distribution or payment for a Restricted Stock Unit in cash to the extent that such payment or distribution is required to be made on or prior to the six month anniversary of the Grant Date. 
 (b) If any distribution of shares of Common Stock in settlement of Restricted Stock Units would otherwise violate the Ownership Limit set forth in the
Articles of Incorporation of the Company (after giving effect to any waiver thereof by the Company), the Company will make payment for any such Restricted Stock Units in cash. 
  

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 Section 3.2 – Conditions to Issuance of Stock Certificates 
 Shares of Common Stock which are distributed in settlement of Restricted Stock Units may be either previously authorized but unissued shares or issued
shares which have then been reacquired by the Company. Upon payment of the purchase price set forth in Section 1.1(a), such shares of Common Stock shall be fully paid and nonassessable. The shares of Common Stock issued pursuant to this
Agreement shall be held in book entry form and no certificates shall be issued therefor; provided, however, that certificates may be issued for shares of Common Stock issued pursuant to this Agreement at the request of the holder and
in accordance with the charter and bylaws of the Company, as amended or supplemented from time to time. The Company shall not be required to issue such shares in book entry or certificated form prior to fulfillment of all of the following
conditions: 
 (a) The admission of such shares to listing on all stock exchanges on which such class of stock is then listed; 
 (b) The completion of any registration or other qualification of such shares under any state or federal law or under rulings or regulations of the
Securities and Exchange Commission or of any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable; 
 (c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee shall, in its absolute discretion, determine to be necessary or advisable; and 
 (d) To the extent that the Executive has elected to pay the purchase price or withholding taxes in cash pursuant to Section 1.1(a) or 3.8 hereof,
the receipt by the Company of full payment for such shares, including payment of any applicable withholding tax. 
 The Company will use
commercially reasonable efforts to satisfy all of the foregoing conditions on or prior to the date when any distribution or payment of the Restricted Stock Units is to be made to the Executive pursuant to Section 2.3(a) or (b) hereof (and,
if any of the foregoing conditions remain unsatisfied as of such date, the Company will use commercially reasonable efforts to satisfy such conditions as promptly as reasonably practicable). 
 In the event that the Company delays a distribution or payment in settlement of Restricted Stock Units because it reasonably determines that the issuance
of shares of Common Stock in settlement of Restricted Stock Units will violate Federal securities laws or other applicable law, such distribution or payment shall be made at the earliest date at which the Company reasonably determines that the
making of such distribution or payment will not cause such violation, as required by Treasury Regulation Section 1.409A-2(b)(7)(ii). The Company shall not delay any payment if such delay will result in a violation of Section 409A of the
Code. 
 Section 3.3 – Ownership Limit and REIT Status 
  

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 Notwithstanding anything to the contrary contained herein, in the event that the Committee reasonably
determines that payment of the Restricted Stock Units in shares of Common Stock could cause the Executive to be in violation of the Ownership Limit (after giving effect to any waiver thereof by the Company) or could impair the Company’s status
as a REIT, the Company may make such payments in cash pursuant to Section 2.3(d) hereof, but the Company may not limit or delay distributions or payments of the Restricted Stock Units. 
 Section 3.4 – Notices 
 Any notice
to be given by the Executive under the terms of this Agreement shall be addressed to the Secretary of the Company (or, in the event that the Executive is the Secretary of the Company, then to the Company’s Chairman of the Board). Any notice to
be given to the Executive shall be addressed to him at his home address on record with the Company. By a notice given pursuant to this Section 3.4, either party may hereafter designate a different address for notices to be given to him. Any
notice which is required to be given to the Executive shall, if Executive is then deceased, be given to the Executive’s personal representative if such representative has previously informed the Company of his or her status and address by
written notice under this Section 3.4. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage
and fees prepaid, addressed as set forth above or upon confirmation of delivery by a nationally recognized overnight delivery service. 
 Section 3.5 – Rights as Stockholder 
 Except as otherwise provided herein, the holder of the Restricted Stock Units shall
not have any of the rights of a stockholder with respect to the Restricted Stock Units or Dividend Equivalents until shares of Common Stock are distributed to him in settlement of such Restricted Stock Units. 
 Section 3.6 – Conformity to Securities Laws 
 The Executive acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of all applicable federal and state laws, rules and regulations (including, but not
limited to the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, including without limitation the applicable exemptive conditions of Rule 16b-3) and to such
approvals by any listing, regulatory or other governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. To the extent permitted by applicable law, the Plan, this Agreement and the
Restricted Stock Units shall be deemed amended to the extent necessary to conform to such laws, rules and regulations, provided, however, that no such amendment shall, without the written consent of the Executive, impair any rights or
benefits of the Executive under this Agreement. 
 Section 3.7 – Amendments 
  

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 This Agreement may only be amended in writing signed by a duly authorized officer of the Company and the
Executive. 
 Section 3.8 – Tax Withholding 
 The Company or the Partnership shall be entitled to withhold in cash or deduction from other compensation payable to the Executive any sums required by federal, state or local tax law to be withheld with respect to
the vesting, distribution or payment of the Restricted Stock Units. In satisfaction of the foregoing requirement upon distribution or payment of the Restricted Stock Units, whenever the Company makes distributions of Restricted Stock Units in shares
of Common Stock, the Company shall withhold shares of Common Stock otherwise issuable in such distributions having a Fair Market Value equal to the sums required to be withheld, unless the Executive elects to make a cash payment to the Company for
such withholding taxes by providing written notice to the Company of such election no less than 15 days prior to the date of which such shares are to be issued. Notwithstanding any other provision of the Plan or this Agreement, the number of shares
of Common Stock which may be withheld with respect to the distribution or payment of the Restricted Stock Units in order to satisfy the Executive’s federal and state income and payroll tax liabilities with respect to the issuance of shares of
Common Stock in payment of the Restricted Stock Units shall be limited to the number of shares which have a Fair Market Value on the date of withholding equal to the aggregate amount of such liabilities based on the minimum statutory withholding
rates for federal and state income tax and payroll tax purposes that are applicable to such supplemental taxable income. 
 Section 3.9
– Governing Law 
 This Agreement shall be administered, interpreted and enforced under the internal laws of the State of California
without regard to conflicts of laws thereof. 
 Section 3.10 – Unfunded, Unsecured Obligations 
 The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as
providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of the Executive or any other person or persons to whom benefits are to be paid pursuant to the terms of the Plan or
this Agreement. The interest of the Executive or any other person hereunder shall be limited to the right to receive the benefits as set forth herein. To the extent that the Executive or any other person acquires a right to receive benefits under
the Plan or this Agreement, such rights shall be no greater than the right of an unsecured general creditor of the Company. 
 [SIGNATURE
PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto. 
  

			
	MAGUIRE PROPERTIES, INC.,
	a Maryland corporation
		
	By:	 	 /s/ WALTER L. WEISMAN

	Name:	 	Walter L. Weisman
	Title:	 	Director
	
	 MAGUIRE PROPERTIES, L.P.,
 a Maryland
limited partnership

		
	By:	 	Maguire Properties, Inc., a Maryland corporation
	Its:	 	General Partner
		
	By:	 	 /s/ WALTER L. WEISMAN

	Name:	 	Walter L. Weisman
	Title:	 	Director

  

	
	EXECUTIVE
	
	 /s/ CHRISTOPHER C. RISING

	Christopher C. Rising

 Signature Page to Time-Based RSU Agreement (CCR) 

 APPENDIX A 
 ADJUSTMENTS TO NUMBER OF RESTRICTED STOCK UNITS GRANTED 
 The following adjustments to the number of
outstanding Restricted Stock Units (including, without limitation, Restricted Stock Units issued in connection with the deemed reinvestment of Dividend Equivalents) shall be made from time to time by the Company, without duplication, in accordance
with this Appendix A as follows: 
 (a) In case outstanding shares of Common Stock shall be subdivided or split into a greater number of
shares of Common Stock, the number of outstanding Restricted Stock Units as of immediately prior to the opening of business on the effective date for such subdivision or split shall be proportionately increased, and conversely, in case outstanding
shares of Common Stock shall be combined into a smaller number of shares of Common Stock, the number of outstanding Restricted Stock Units as of immediately prior to the opening of business on the effective date for such combination shall be
proportionately reduced, such increase or reduction, as the case may be, to become effective immediately prior to the opening of business on the effective date for such subdivision, split or combination. 
 (b) In case the Company shall hereafter pay or make a dividend or other distribution (other than ordinary quarterly cash dividends) in shares of Common
Stock, cash or other property to all or substantially all holders of its outstanding shares of Common Stock, the number of Restricted Stock Units outstanding as of the date of payment of any such dividend or distribution shall be increased by a
number of Restricted Stock Units equal to either (i) in the case of a stock dividend, the product of (x) the number of shares of Common Stock so distributed with respect to one share of Common Stock and (y) the number of Restricted
Stock Units outstanding as of the date of payment of such stock dividend or (ii) in the case of all other dividends or distributions, the product of (x) the quotient obtained by dividing (A) the aggregate amount of cash and/or fair
market value of other property which is paid with respect to one share of Common Stock in connection with such dividend or other distribution by (B) the Fair Market Value of a share of Common Stock on the date of payment of such dividend or
distribution and (y) the number of Restricted Stock Units outstanding as of the date of payment of such dividend or other distribution. In either case of clause (i) or (ii), such increase shall become effective as of the date of payment of
such dividend or other distribution. 
 (c) As soon as reasonably practicable in connection with any other corporate transactions or events
not set forth in (a) or (b), including any such transaction that constitutes a recapitalization, reclassification, reorganization, merger, consolidation, split-up, combination, redemption, repurchase, dividend or other distribution,
liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company or the Partnership, or exchange of Common Stock or other securities of the Company or the Partnership, or issuance of
warrants, options or other rights to purchase Common Stock or other securities of the Company or the Partnership, or other similar corporate transaction or event, the Board or the Compensation Committee of the Board shall make a good faith
determination as to what adjustments, if any, to the number of outstanding Restricted Stock Units (including, without limitation, Restricted Stock Units issued in connection with the deemed reinvestment of Dividend Equivalents) are appropriate in
order to preserve for the Restricted Stock Unit Holder the benefits or 

  

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potential benefits intended to be provided to such Restricted Stock Unit Holder, and shall make any such adjustments at such time as it determines in good
faith is appropriate in order to preserve for the Restricted Stock Unit Holder the benefits or potential benefits intended to be provided to such Restricted Stock Unit Holder. 
 (d) Whenever an adjustment to the number of outstanding Restricted Stock Units (including, without limitation, Restricted Stock Units issued in
connection with the deemed reinvestment of Dividend Equivalents) is made pursuant to this Appendix A, the Company shall reasonably promptly provide the Restricted Stock Unit Holder with written notice setting forth the number of outstanding
Restricted Stock Units held by the Restricted Stock Unit Holder after giving effect to such adjustments. 
  

 A-2Separation Agreement

 Exhibit 10.10 
 SEPARATION AGREEMENT 
 THIS SEPARATION AGREEMENT (this “Agreement”) is made
as of this 17th day of May, 2008, by and among ROBERT F. MAGUIRE III, an individual (the “Executive”), Maguire Properties, Inc., a Maryland corporation (the “REIT”), and Maguire Properties, L.P, a Maryland limited
partnership (the “Operating Partnership” and, together with the REIT, collectively referred to herein as the “Company”). Capitalized terms not defined herein shall have the meaning ascribed in the Employment
Agreement (defined below). 
 WHEREAS, the Company and the Executive are parties to that certain employment agreement effective as of
June 27, 2003, as amended by that Amendment to Employment Agreement dated as of April 26, 2008 (the “Employment Agreement”); 
 WHEREAS, the REIT and the Executive are parties to that certain noncompetition agreement dated June 27, 2003 (the “Noncompetition Agreement”); 
 WHEREAS, the Executive has decided to resign his employment as Chief Executive Officer of the Company effective as of May 17, 2008 (the
“Separation Date”), as well as to resign as Chairman of the Board of Directors, and as a director, of the REIT and as an officer and director of any subsidiary or affiliate controlled by the Company (collectively, the
“Affiliates”) effective as of the Separation Date, subject to the terms of this Agreement; and 
 WHEREAS, the Company has
agreed to accept the Executive’s resignation and to provide the Executive with certain additional rights, benefits and releases (as described below) in exchange for the Executive’s release of any and all claims that the Executive may have
against the Company and/or the “Released Persons” (as that term is defined herein) as provided herein, and the other covenants, promises and terms contained in this Agreement. 
 NOW THEREFORE, in consideration of the premises and the mutual promises contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are expressly acknowledged, the parties hereby agree as follows: 
 1. Resignation; Return of Property.

 1.1. The Executive hereby resigns from employment with the Company and all the Company’s Affiliates, including, but not limited to,
his position as Chief Executive Officer of the Company, effective on the Separation Date. 
 1.2. The Executive hereby resigns from the Board
of Directors of the Company (and as an officer and director of all the Company’s Affiliates, including, but not limited to, his position as Chairman of the Board of Directors of the REIT), effective on the Separation Date. 
 1.3. The Executive will execute such additional written confirmations of the resignations set out in Sections 1.1 and 1.2 as shall be reasonably
requested by the Company. 
 1.4. As promptly as practicable with respect to each item identified below, but no later than 30 days after the
Separation Date, the Executive shall return all property of the REIT or the Operating Partnership in his possession, custody or control, including, but not limited to, 

 
any ID card, keys, parking and building access cards, credit cards and any electronic devices that have been allocated to or are otherwise in the possession,
custody or control of the Executive; provided, that no such property shall be used, prior to its return by the Executive, to create any obligation on the Company’s behalf. As soon as administratively practicable, but in any event no
later than 60 days following the Separation Date, the Executive either shall return his Company-provided automobile or acquire it on mutually satisfactory terms. 
 2. Consideration; Acknowledgements. 
 2.1. In consideration of the Executive’s release of all
claims and the Executive’s other covenants and agreements contained herein, and provided that this Agreement has not been revoked or otherwise breached in any material respect by the Executive as of the eighth (8th) day following the
Executive’s execution of this Agreement (including, but not limited to, the Executive’s execution with respect to the release provisions of Section 3 hereof), the Company agrees to treat the Executive’s resignation hereunder as
if the Executive had terminated his employment with the Company for “Good Reason” pursuant to Section 3(c) of the Employment Agreement, the Executive shall be deemed to have complied with the notice and other provisions of
Section 3(d) of the Employment Agreement, and the Executive shall be entitled to receive severance benefits in the amount of $2,800,000.00, less any amounts for Federal, state, local or foreign taxes required to be withheld pursuant to any
applicable law or regulation, which the parties acknowledge represents an amount equal to the value of the benefits described in Section 4(a) of the Employment Agreement, which, subject to Section 2.7 hereof, shall be payable in a lump sum
as soon as practicable following the Effective Date (as defined in Section 3.3.6 hereof). 
 2.2. On the Separation Date, the Executive
shall be awarded the title of Chairman Emeritus of the REIT, which he shall be entitled to retain until a resolution or consent is adopted by the REIT’s Board of Directors of the Company removing such title from Executive, which shall not occur
prior to the second anniversary of the Separation Date; provided, that Executive does not breach the terms of this Agreement in any material respect (after at least 15 days’ notice and opportunity to cure), and, provided further,
that such title does not entitle Executive to any authority or responsibility with respect to the management or operations of the Company. 
 2.3. The Company shall enter into a Consulting Agreement with the Executive, substantially in the form attached hereto as Appendix A. Notwithstanding any early termination or breach by either party of such Consulting Agreement, the mutual
general release set forth in Section 3, below, shall remain in full force and effect. 
 2.4. Commencing on the Separation Date and
continuing for so long as Executive retains the title of Chairman Emeritus of the REIT, the Executive shall be entitled to a payment of $750,000.00 per year, payable annually in advance, to defray the costs of maintaining an office, in a location of
the Executive’s choosing (other than any location within the offices of the Company), as well as two assistants and a personal driver. 
 2.5. As of the Effective Date, both the Non-Solicitation covenants set forth in Section 9(b) of the Employment Agreement and the Noncompetition Agreement, in its entirety, 

  

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are hereby terminated and revoked, and shall be of no further force or effect; provided, however, that the Executive shall have no liability for any
breach of the Non-Solicitation covenants set forth in Section 9(b) of the Employment Agreement or the Noncompetition Agreement between the Separation Date and the Effective Date. 
 2.6. The Executive hereby acknowledges and agrees that he shall not be eligible to receive any payments or other benefits under this Agreement (including
those described with reference to Sections 4(a)(i)(B) and 4(a)(ii), (iii) and (iv) of the Employment Agreement) until the Effective Date. For avoidance of doubt, the Executive acknowledges and agrees that if he revokes or in any material
respect breaches this Agreement, he will have no right to receive any of the severance benefits under the Employment Agreement, and the Company shall have no further obligation to him hereunder. 
 2.7. Notwithstanding any provision to the contrary in this Agreement, no payment or distribution under this Agreement which constitutes an item of
deferred compensation under Section 409A of the Code and becomes payable by reason of the Executive’s termination of employment with the Company will be made to the Executive unless the Executive’s termination of employment
constitutes a “separation from service” (as such term is defined in Treasury Regulations issued under Section 409A of the Code). In addition, no such payment or distribution will be made to the Executive prior to the earlier of
(i) the expiration of the six (6)-month period measured from the date of the Executive’s “separation from service” (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (ii) the date
of the Executive’s death, if the Executive is deemed at the time of such separation from service to be a “key employee” within the meaning of that term under Section 416(i) of the Code and to the extent such delayed commencement
is otherwise required in order to avoid a prohibited distribution under Section 409A(a)(2) of the Code. It is intended that this Agreement shall comply with the provisions of Section 409A of the Code and the Treasury Regulations relating
thereto so as not to subject the Executive to the payment of additional taxes and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall be interpreted, operated, and administered in a manner consistent
with these intentions. 
 3. Mutual General Release and Covenant Not to Sue. 
 3.1. Except as specified in Section 3.7 below, and for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
Executive, for himself and on behalf of his Affiliates, on the one hand, and the Company, for itself and on behalf of its Affiliates, on the other hand (each a “Releasing Person”), do hereby release and forever discharge the Released
Persons (as hereinafter defined) of and from any and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands, damages, losses, costs,
attorneys’ fees or expenses, of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent (hereinafter, “Claims”), which the Releasing Person now has or may hereafter have or claim to
have against the Released Persons, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning of time to the date hereof. The Claims released herein include, without limiting the generality of the foregoing, any Claims in
any way arising out of, based upon, or related to the employment or termination of employment of the Executive by the Released Persons, or any of them; any alleged breach of any express or implied contract of employment; any alleged torts or 

  

 3 

 
other alleged legal restrictions on any Released Person’s right to terminate the employment of the Executive; and any alleged violation of any federal,
state or local statute, ordinance or regulation including, without limitation, Title VII of the Civil Rights Act of 1964, the Age Discrimination In Employment Act, the Americans With Disabilities Act, the California Labor Code, and the California
Fair Employment and Housing Act, each as amended from time to time. As used herein, the term “Released Persons” shall mean, as to the Company, the REIT, the Operating Partnership, Maguire Services, Inc., a Maryland corporation, and
each of their respective partners, subsidiaries, associates, affiliates, successors, heirs, assigns, agents, directors, officers, employees, representatives, lawyers, insurers, and all persons acting by, through, under or in concert with them, and
as to the Executive, Robert F Maguire and each of his partners, subsidiaries, associates, affiliates, successors, heirs, assigns, agents, employees, representatives, lawyers, insurers, and all persons acting by, through, under or in concert with
him. 
 3.2. EACH RELEASING PERSON ACKNOWLEDGES THAT HE/IT HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH CALIFORNIA CIVIL CODE
SECTION 1542, WHICH PROVIDES AS FOLLOWS: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 THE RELEASING PERSON, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS HE/IT MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 3.3. IN ACCORDANCE WITH THE OLDER WORKERS BENEFIT PROTECTION ACT OF 1990 (“OWBPA”), THE EXECUTIVE IS HEREBY ADVISED AND ACKNOWLEDGES AS
FOLLOWS: 
 3.3.1. HE HAS READ AND UNDERSTANDS THE TERMS OF THIS RELEASE IN ITS ENTIRETY; 
 3.3.2. HE HAS ENTERED INTO THIS RELEASE KNOWINGLY AND VOLUNTARILY, WITHOUT ANY DURESS OR COERCION; 
 3.3.3. HE HAS THE RIGHT TO CONSULT WITH AN ATTORNEY WITH RESPECT TO THIS RELEASE BEFORE SIGNING THIS RELEASE; 
 3.3.4. HE WAIVES THE RIGHT TO THE TWENTY-ONE (21) DAY CONSIDERATION PERIOD TO WHICH HE IS ENTITLED UNDER THE OWBPA; 
 3.3.5. TO THE EXTENT HE TAKES LESS THAN 21 DAYS TO CONSIDER THIS AGREEMENT PRIOR TO SIGNING IT, HE ACKNOWLEDGES THAT HE HAD SUFFICIENT
TIME TO CONSIDER THIS AGREEMENT WITH 

  

 4 

 
COUNSEL AND THAT HE EXPRESSLY, VOLUNTARILY AND KNOWINGLY WAIVES ANY ADDITIONAL TIME; AND 
 3.3.6. HE HAS UNTIL 5:00 PM PACIFIC DAYLIGHT TIME ON THE SEVENTH (7TH) DAY FOLLOWING THE EXECUTION OF THIS RELEASE TO REVOKE THIS RELEASE, AND THIS RELEASE WILL BECOME EFFECTIVE UPON THE CALENDAR DAY IMMEDIATELY FOLLOWING
THE EXPIRATION OF THAT REVOCATION PERIOD (THE “EFFECTIVE DATE”). THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT IF HE WISHES TO REVOKE THIS RELEASE, HE MUST DO SO IN WRITING, AND THAT SUCH REVOCATION MUST BE SIGNED BY HIM AND RECEIVED
BY JONATHAN ABRAMS, SENIOR VICE PRESIDENT AND GENERAL COUNSEL OF THE COMPANY, MAGUIRE PROPERTIES, INC., 1733 OCEAN AVENUE, SUITE 400, SANTA MONICA, CA 90401, NO LATER THAN 5:00 P.M. PDT ON THE SEVENTH (7TH) CALENDAR DAY IMMEDIATELY FOLLOWING THE DATE ON WHICH THE EXECUTIVE SIGNED THE RELEASE. 
 3.4. Each Releasing Person expressly represents that he/it has not filed a lawsuit or initiated any other legal or administrative proceeding against any other Released Person. Each Releasing Person further promises
not to initiate a lawsuit or to bring any other claim against any Released Person arising out of or in any way related to the Executive’s employment by the Company or its Affiliates or Executive’s service to the Company in his capacity as
a director or Chairman of the Board of Directors of the REIT, or the termination of that employment or service (as applicable). 
 3.5. Each
Releasing Person represents and warrants that there has been no assignment or other transfer of any interest in any Claim which he or it may have against the Released Persons, or any of them, and each Releasing Person agrees to indemnify and hold
the Released Persons, or any of them, harmless from any liability, Claims, demands, damages, costs, reasonable expenses and attorneys’ fees incurred by Released Persons, or any of them, as the result of any such assignment or transfer or any
rights or Claims under any such assignment or transfer. It is the intention of the parties that this indemnity does not require payment as a condition precedent to recovery by any Released Person against the Releasing Person under this indemnity.

 3.6. Each Releasing Person agrees that if he or it hereafter commences any suit arising out of, based upon, or relating to any of the
Claims released hereunder or in any manner asserts against the Released Persons, or any of them, any of the Claims released hereunder, then such Releasing Person agrees to pay to such Released Persons, or any of them, in addition to any other
damages caused to the Released Persons thereby, all reasonable attorneys’ fees, costs and expenses incurred by the Released Persons, or any of them, in defending or otherwise responding to said suit or Claim. 
 3.7. For a period of four (4) years following the Separation Date, the Company shall cause the Executive to be named and covered as an insured under
such officers and directors insurance and errors and omissions insurance that the Company provides to its senior executive officers during that time period. Additionally, the Company shall indemnify and hold the Executive harmless to the fullest
extent permitted by law with regards to actions or inactions taken 

  

 5 

 
in relation to the Executive’s duties performed at the Company before the date of this Agreement. Nothing in this Agreement shall be deemed to, or
shall, limit, release, impair or otherwise affect, in any way, the Executive’s rights to indemnification, defense and/or insurance coverage, whether pursuant to any certificate of incorporation, bylaw, policy, insurance contract, partnership
agreement, operating agreement, or other organizational document, under applicable law including, without limitation, Section 2802 of the California Labor Code and Section 317 of the California Corporations Code, or otherwise. Nothing in
this Agreement shall limit or release any party’s right to enforce the terms of this Agreement or any agreement entered into in connection with this Agreement, the Executive’s right to any previously vested benefits under any
Company-sponsored welfare or benefits plan, or the Executive’s right to participate in a COBRA continuation coverage program or any similar state medical and dental insurance continuation coverage program. Furthermore, this Agreement will not
prevent the Executive from filing a charge with the Equal Employment Opportunity Commission (or similar state agency) or participating in any investigation conducted by the Equal Employment Opportunity Commission (or similar state agency);
provided, however, that the Executive acknowledges and agrees that any claims by the Executive for personal relief in connection with such a charge or investigation (such as reinstatement or monetary damages) would be and hereby are barred.
Nothing in this Agreement shall limit or release the obligation of Executive and his affiliates to pay amounts payable to the Company under the Other Related Party Agreements (as defined below) and the Insurance Sharing Agreement (as defined below)
for goods or services provided to the Executive and his affiliates prior to the date hereof or until the termination of the Other Related Party Agreements and Insurance Sharing Agreement pursuant to Sections 8 and 9 of this Agreement. 
 4. Employment Agreement. 
 4.1. The
Executive acknowledges that, in the absence of his execution of this Agreement, the payment and other rights and benefits specified above in Sections 2.1 through 2.5 would not otherwise be due to him. 
 4.2. The Company acknowledges that the Executive’s right to receive the “Accrued Obligations” and the “Other Benefits,” as those
terms are defined in the Employment Agreement, is not conditioned upon the Executive’s execution of this Agreement, and that such Accrued Obligations and Other Benefits shall be timely paid to the Executive. 
 4.3. The Company acknowledges that the provisions of Sections 7 and 8 of the Employment Agreement survive the cessation of the Executive’s
employment with the Company, including, without limitation, the Executive’s rights to “Excise Tax Gross-Up Payments” on amounts paid pursuant to this Agreement or the Employment Agreement, and shall not be extinguished by this
Agreement. 
 4.4. The Executive acknowledges that the provisions of Sections 9(a) and (c) and 10 through 12 of the Employment Agreement
survive the cessation of his employment with the Company. The Executive further acknowledges and affirms that the covenants contained in Section 9(a) of the Employment Agreement are reasonable and necessary to protect the legitimate interests
of the Company and its Affiliates, that he received adequate consideration in exchange for agreeing to those covenants, and that he will abide by those covenants. 
  

 6 

 5. Cooperation in Legal Proceedings. 
 5.1. The Executive agrees that following the Separation Date, he will cooperate with the Company, its Affiliates and their counsel with respect to the
Company’s defense, prosecution or investigation of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company or its Affiliates which relate to events or occurrences that transpired while he
was employed by the Company; and in connection with any investigation or review by any federal, state or local regulatory, quasi-regulatory or self-governing authority relating to such events or occurrences. The Executive’s cooperation shall
include, but not be limited to, being available to meet and speak with officers or employees of the Company and/or its counsel at reasonable times and locations, executing accurate and truthful documents, and taking such other actions as may
reasonably be requested by the Company and/or its counsel to effectuate the foregoing. The Company will reimburse the Executive for all reasonable and documented out-of-pocket expenses, including travel, hotel and meal or similar expenses and the
reasonable fees and expenses of his attorneys, incurred in connection with providing his cooperation under this Section 5 for which the Executive has obtained prior, written approval from the Company. 
 6. Termination of Lease. The Operating Partnership and the Executive acknowledge that the Operating Partnership and Maguire Partners – 1733
Ocean, LLC, a California limited liability company (the “Landlord”), which is an entity controlled by the Executive, are party to (a) that certain 1733 Ocean Avenue Office Lease, dated as of November 15, 2005 (the
“Lease”), pursuant to which the Operating Partnership leases from the Landlord certain premises (the “Premises”) consisting of a portion of the fourth floor of the building located at 1733 Ocean Avenue, Santa
Monica, California (the “Building”), and (b) that certain Letter Agreement Re: Participation Interest: Maguire Partners – 1733 Ocean, LLC, dated as of November 15, 2005 (the “Participation Side
Letter”). The Operating Partnership and the Executive agree that the Executive shall cause the Landlord, for a period of 180 days following the Separation Date, to use its reasonable best efforts to procure any requisite approvals for the
termination of the Lease, whether such approvals are obtained by procuring an acceptable replacement tenant for the entire fourth floor of the Building or otherwise. In the event that such approvals are obtained within said 180 day period, the
Executive shall promptly notify the Operating Partnership thereof and shall thereafter cause the Landlord to (and the Operating Partnership shall agree to) terminate the Lease and the Participation Side Letter effective as of a date designated by
the Operating Partnership that is within 30 days after the later of (a) 90 days after the date hereof or (b) the date such approvals have been obtained. If such approvals are not obtained within said 180 day period, then (i) the
Executive shall cause the Landlord thereafter to demise the Premises from the balance of the fourth floor of the Building in a manner and configuration that is acceptable to the Operating Partnership in the exercise of its reasonable judgment and to
complete said demising with the Landlord and the Operating Partnership each bearing fifty percent (50%) of the cost and expense thereof, within 30 days following the expiration of said 180 day period, (ii) the Executive shall cause
Landlord to agree to an amendment of the Lease as necessary to reflect such demising (including, without limitation, by reducing the rent to reflect any reduction in the number of usable square feet comprising the Premises), and (iii) the
Operating Partnership shall have the right to assign the Lease or sublet the Premises, as so demised, as otherwise provided in the Lease. If the Landlord fails to so demise the Premises within said 30 day period, then all rent and other charges
payable by the Operating Partnership pursuant to the Lease shall be wholly abated for each day of delay in 

  

 7 

 
the completion of such demising after the expiration of said 30 day period. Notwithstanding anything to the contrary in the Lease, the Participation Side
Letter or otherwise, if the Landlord exercises its right under the Lease to terminate the Lease and recapture the Premises in the event of a proposed assignment of the Lease or subletting of the Premises by the Operating Partnership, the Landlord
shall be entitled to all rent and other amounts under and with respect to each replacement lease and the Participation Side Letter shall not apply to any replacement lease. 
 7. Ability to Use Maguire Name. Following the Separation Date, Executive, or any entity controlled by the Executive, may use the
“Maguire” name for any reason, including but not limited to in competition with the Company, so long as the name used is not confusingly similar to any of the names used by the Company or its Affiliates. For these purposes the Company
acknowledges that the name “Maguire Investments” is not confusingly similar to any of the names used by the Company or its Affiliates and may be used by Executive or such entities for any reason, including but not limited to in competition
with the Company, after the Separation Date. Following the occurrence of any of the following events, upon the written request of Executive, the Company shall (as soon as practical after receipt of such written request) cease using the name
“Maguire”: 
 7.1. the acquisition, directly or indirectly, by any “person” or “group” (as those terms are
defined in Sections 3(a)(9), 13(d), and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of
securities entitled to vote generally in the election of directors (“voting securities”) of the REIT that represent 80% or more of the combined voting power of the REIT’s then outstanding voting securities; or 
 7.2. the consummation by the REIT (whether directly involving the REIT or indirectly involving the REIT through one or more intermediaries) of (x) a
merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the REIT’s assets or (z) the acquisition of assets or stock of another entity, in each case, other than a
transaction: 
 7.2.1. which results in the REIT’s voting securities outstanding immediately before the transaction
continuing to represent (either by remaining outstanding or by being converted into voting securities of the REIT or the person that, as a result of the transaction, controls, directly or indirectly, the REIT or owns, directly or indirectly, all or
substantially all of the REIT’s assets or otherwise succeeds to the business of the REIT (the REIT or such person, the “Successor Entity”)) directly or indirectly, at least 50% of the combined voting power of the Successor
Entity’s outstanding voting securities immediately after the transaction, 
 7.2.2. after which no person or group
beneficially owns voting securities representing 80% 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 clause (B) as beneficially owning 80% or more of
combined voting power of the Successor Entity solely as a result of the voting power held in the REIT prior to the consummation of the transaction, and 
  

 8 

 7.2.3. if individuals who, as of the Effective Date, constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election by the REIT’s shareholders, or
nomination for election by the Board, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a result of an election contest with respect to the election or removal of directors or other solicitation of proxies or consents by or on behalf of a person other than the
Board. 
 8. Termination of Management and Service Contracts for RFM Properties. The Company and the Executive agree that each of the
agreements listed on Schedule 1 attached hereto (the “Other Related Party Agreements”) shall be terminated as soon as practicable following the Separation Date, with such termination to be effective on the date or dates specified in
a notice from the Executive (which shall be no sooner than 10 days after such notice and no later than 30 days after the Separation Date). Upon such effective date, the Other Related Party Agreements shall each terminate and be of no further force
or effect (other than any provisions thereof that expressly survive termination), and none of the parties thereto shall have any further liability or obligation pursuant thereto except for any liabilities thereunder accruing prior to such effective
date. 
 9. Removal of RFM Properties from Insurance Sharing Agreement. As soon
as practical following the Separation Date, Executive shall cause the appropriate entities controlled by him to obtain insurance coverage for the properties listed on Schedule 2 (the “RFM Properties”) that is separate and apart from
the policies maintained by the Company and its Affiliates with respect to such properties pursuant to the Amended and Restated Property Insurance Sharing Agreement dated as of June 27, 2003, as amended by the First Amendment to the Amended and
Restated Property Insurance Sharing Agreement dated as of December 15, 2003, as amended by the Second Amendment to the Amended and Restated Property Insurance Sharing Agreement dated as of February 28, 2008 (collectively, the
“Insurance Sharing Agreement”). Promptly following the Separation Date, Executive shall cooperate with the Company and shall cause the entities controlled by him to enter into an appropriate amendment to the Insurance Sharing
Agreement to remove the RFM Properties from the Insurance Sharing Agreement and to settle any amounts due to the Company under the Insurance Sharing Agreement with respect to the RFM Properties. In any event, the Company and its Affiliates shall
have the right to terminate any insurance coverage maintained by the Company or such Affiliates with respect to the RFM Properties 60 days following the Separation Date. 
 10. Tax Protection under Contribution Agreements. Notwithstanding anything to the contrary in any of the contribution agreements currently in effect among the Company or any of its affiliates and the Executive
and any of his affiliates, for purposes of calculating whether or not the “Partnership Unit Sales Restriction” (as defined in such contribution agreements) shall be deemed satisfied for any period, shares of REIT common stock received upon
redemption of “Partnership Units” (as defined in such contribution agreements) in accordance with Section 8.6B of the Amended and Restated Agreement of Limited Partnership of Maguire Properties, L.P., as 
  

 9 

 amended, and still owned by the Executive shall be treated as Partnership Units then owned by the Executive. 

11. Miscellaneous. 
 11.1. No
Admission of Liability. Each Releasing Person acknowledges and agrees that neither the payment of any sum of money nor the execution of this Agreement shall constitute or be construed as an admission by the Released Persons, or any of them, of
any wrongdoing, liability or violation of any federal, state or local statute, ordinance or regulation or of any duty owed to the Releasing Person by the Released Persons, or any of them, nor shall this Agreement be admissible as evidence in any
proceeding, other than for enforcement of the provisions of this Agreement. 
 11.2. Dispute Resolution. Except as is necessary for
any of the Released Persons or any Releasing Person to enforce their rights under this Agreement through injunctive relief or specific performance, the parties agree that any disputes based upon, relating to, or arising out of this Agreement and/or
the Executive’s employment relationship with the Company and/or any of the Released Persons or Executive’s service to the Company in his capacity as a director or Chairman of its Board of Directors, and the termination of such
relationships, shall be submitted to binding arbitration in Los Angeles, California, pursuant to the provisions of Section 12 (b) of the Employment Agreement, which shall be the exclusive remedy for resolving any and all such disputes.

 11.3. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and the Executive and
their respective successors, permitted assigns, executors, administrators and heirs. The Executive may not make any assignment of this Agreement or any interest herein, by operation of law or otherwise. The REIT or the Operating Partnership may
assign this Agreement to any successor to all or substantially all of their respective assets or business by means of liquidation, dissolution, merger, consolidation, transfer of assets, or otherwise. 
 11.4. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under
applicable law. However, if any provision of this Agreement is adjudged by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision
but shall be confined in its operation to the provision directly involved in the controversy in which such judgment shall have been rendered, and this Agreement will be reformed, construed and enforced as though such invalid, illegal or
unenforceable provision had never been herein contained. 
 11.5. Entire Agreement; Amendments. Except as otherwise provided herein,
this Agreement and the Consulting Agreement represent the entire agreement and understanding between the parties hereto relating to the subject matter hereof and, except as expressly stated in this Agreement or the Consulting Agreement, merges and
supersedes all prior and contemporaneous discussions, agreements, understandings or negotiations respecting such subject matter. Each Releasing Person acknowledges that he or it is relying solely upon the contents of this Agreement and the
Consulting Agreement, that there have been no other representations or 

  

 10 

 
statements made by any of the Released Persons, and that each Releasing Person is not relying on any other representations or statements whatsoever of any of
the Released Persons as an inducement to enter into this Agreement or the Consulting Agreement, and if any of the facts upon which the Releasing Person now relies in entering into this Agreement or the Consulting Agreement shall hereafter prove to
be otherwise, this Agreement and the Consulting Agreement shall nonetheless remain in full force and effect. The provisions of this Agreement may not be changed or modified, except by an express agreement in writing signed by each of the parties
hereto. 
 11.6. Waivers. The waiver by any party of any right hereunder or of any breach by another party will not be deemed a waiver
of any other right hereunder or of any other breach by another party. No waiver will be deemed to have occurred unless set forth in writing. No waiver will constitute a continuing waiver unless specifically stated, and any waiver will operate only
as to the specific term or condition waived. 
 11.7. Joint Drafting. The Executive understands and agrees that this Agreement is
deemed to have been drafted jointly by the parties. Any uncertainty or ambiguity shall not be construed for or against any party based on attribution of drafting to any party. 
 11.8. Governing Law and Enforcement. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
California, without regard to it principles of conflicts of laws. 
 11.9. Counterparts and Facsimiles. This Agreement may be
executed, including execution by facsimile signature, in multiple counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 
 11.10. Headings. Headings, titles or captions of paragraphs contained in this Agreement are inserted only as a matter of convenience and for
reference, and in no way define, limit, extend or describe the scope of this Agreement or the intent of any provisions hereof. 
 [signature page follows] 
  

 11 

 IN WITNESS WHEREOF, each of the REIT and the Operating Partnership has caused this Agreement to be
executed by its duly authorized representative, and the Executive has executed this Agreement, in each case as of the date indicated by the signatures below. 
  

									
		 		 		 	Maguire Properties, Inc.
					
	Date:	 	May 17, 2008	 		 		 	
		 		 		 	By:	 	 /s/ WALTER L. WEISMAN

		 		 		 	Name:	 	Walter L. Weisman
		 		 		 	Title:	 	Director
				
		 		 		 	Maguire Properties, L.P.,
		 		 		 	a Maryland limited partnership
					
		 		 		 	By:	 	Maguire Properties, Inc.
		 		 		 	Its:	 	General Partner
	Date:	 	May 17, 2008	 		 		 	
		 		 		 	By:	 	 /s/ WALTER L. WEISMAN

		 		 		 	Name:	 	Walter L. Weisman
		 		 		 	Title:	 	Director
				
		 		 		 	ROBERT F. MAGUIRE III
					
	Date:	 	May 17, 2008	 		 		 	
		 		 		 	 /s/ ROBERT F. MAGUIRE III

		 		 		 	(other than with respect to the Release contained in Section 3 hereof)
				
		 		 		 	ROBERT F. MAGUIRE III
				
	Date:	 	May 17, 2008	 		 	
		 		 		 	 /s/ ROBERT F. MAGUIRE III

		 		 		 	(with respect to the Release contained in Section 3 hereof)

 SCHEDULE 1 
 OTHER RELATED PARTY AGREEMENTS 
  

	1.	Services Agreement (Solana Marriott Hotel), dated June 27, 2003, by and between Maguire Properties, L.P., and Maguire Partners-Solana Limited Partnership.

  

	 2.
	 Services Agreement (17th & Grand), dated June 27, 2003, by and between Maguire Properties, L.P., and Maguire Thomas Partners-17th & Grand,
Ltd. 

  

	3.	Services Agreement (740 S. Olive), dated June 27, 2003, by and between Maguire Properties, L.P., and Maguire Partners-740 Olive Street, L.P. 

  

	4.	Services Agreement (Development), dated June 27, 2003, by and between Maguire Properties, L.P., and Maguire Partners Development, Ltd. 

  

	5.	Property Management and Leasing Agreement (Solana), dated June 27, 2003, by and between Maguire Partners-Solana Limited Partnership, and Maguire Properties-Solana Services,
L.P. 

  

	6.	Property Management and Leasing Agreement (Solana Land), dated June 27, 2003, by and between Maguire Partners-Solana Land, L.P., and Maguire Properties-Solana Services, L.P.

  

	7.	Property Management and Leasing Agreement (1733 Ocean), dated June 27, 2003, by and between Maguire Partners-1733 Ocean, LLC, and Maguire Properties, L.P.

  

	8.	Property Management and Leasing Agreement (Plaza Las Fuentes Phase II), dated June 27, 2003, by and between Maguire Partners-385 Colorado, LLC, and Maguire Properties, L.P.

  

	9.	Western Asset Plaza Office Lease, dated July 1, 2004, by and between Maguire Partners-385 Colorado, LLC, and Maguire Properties Services, Inc. 

  

	10.	Lease Agreement, dated January 31, 2006, by and between Maguire Partners – Solana Limited Partnership, and Maguire Partners – Solana Services, L.P.

  

	11.	Lease Agreement (Leasing), dated February 1, 2006, by and between Maguire Partners -Solana Limited Partnership, and Maguire Partners – Solana Services, L.P.

  

	12.	Lease Agreement (Management), dated February 1, 2006, by and between Maguire Partners – Solana Limited Partnership, and Maguire Partners – Solana Services, L.P.

  

	13.	Lease Agreement, dated July 1, 2004, by and between Maguire Partners—385 Colorado, LLC, and Maguire Properties Services, Inc. 

	14.	All oral agreements between the Executive or his controlled entities and the Company or its affiliates with respect to management services or the provision of other services.

  

 2 

 SCHEDULE 2 
 RFM PROPERTIES 
  

	1.	Solana (owned by Maguire Partners – Solana, L.P., a Texas limited partnership) 

  

	2.	Solana Land (owned by Maguire Partners – Solana Land, L.P, a Texas limited partnership) 

  

	3.	1733 Ocean Avenue (owned by Maguire Partners – 1733 Ocean, LLC, a Delaware limited liability company) 

  

	4.	Plaza Las Fuentes – Phase II (owned by Maguire Partners – WAP, LLC, a Delaware limited liability company) 

  

	5.	740/737 South Olive (owned by Maguire Partners – 740 South Olive, a California limited partnership) 

  

	6.	Grand Garage (owned by Maguire Thomas Partners – 17th & Grand, Ltd., a California limited partnership) 

  

	7.	Playa Vista – Water’s Edge (owned by Playa Vista – Water’s Edge, LLC, a Delaware limited liability company) 

  

	8.	Water’s Edge – 5510 Lincoln Boulevard (owned by Maguire Partners – Water’s Edge Property Holdings, LLC, a Delaware limited liability company)

  

	9.	Water’s Edge – 5570 Lincoln Boulevard (owned by Maguire Partners – Water’s Edge Property Holdings, LLC, a Delaware limited liability company)

  

	10.	Surface Parking – 5510 Lincoln Boulevard (owned by Maguire Partners – Water’s Edge Property Holdings, LLC, a Delaware limited liability company)

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