Document:

<PAGE>
                                                                    EXHIBIT 10.4

                              AMENDED AND RESTATED
                         MEDICAL PROPERTIES TRUST, INC.
                           2004 EQUITY INCENTIVE PLAN

                  FORM OF AWARD AGREEMENT FOR RESTRICTED STOCK

THIS AWARD AGREEMENT (the "Agreement') is made and entered into as of
______________________ by and between MEDICAL PROPERTIES TRUST, INC., a Maryland
corporation (the "Company"), and ______________________ (the "Participant")
pursuant to the Amended and Restated Medical Properties Trust, Inc. 2004 Equity
Incentive Plan, as it may be further amended and restated from time to time (the
"Plan"). Capitalized terms used but not defined herein shall have the same
meanings set forth in the Plan.

                                   WITNESSETH:

WHEREAS, the Participant is an Employee; and

WHEREAS, pursuant to the Plan and subject to the execution of this Agreement,
the Committee has granted, and the Participant desires to receive, an Award.

NOW, THEREFORE, for and in consideration of the premises, the mutual promises
and covenants herein contained, and other good and valuable consideration, the
receipt, adequacy and sufficiency of which are hereby acknowledged, the parties
hereto do hereby agree as follows:

1. AWARD OF RESTRICTED STOCK. On the date specified on Exhibit A attached hereto
(the "Date of Award") but subject to the execution of this Agreement, the
Company awarded to the Participant an Award (the "Award") in the form of the
number of shares of Restricted Common Stock (the "Shares") as set forth on
Exhibit A from the authorized and unissued or treasury Common Stock at and for
the purchase price set forth on Exhibit A.

2. RESTRICTIONS. The Shares as to which the restrictions shall not have lapsed
and which are not vested shall be forfeited upon the Participant's Termination
of Employment. The Shares may not be sold, transferred, pledged, assigned or
otherwise alienated or hypothecated until such restrictions lapse and the Shares
vest, as set forth on Exhibit A. During the period prior to the lapse of such
restrictions and the vesting of such Shares, any stock dividends paid with
respect to the Shares shall be subject to the same restrictions and vesting
period as the Shares with respect to which they are paid.

3. CERTIFICATES FOR SHARES OF RESTRICTED COMMON STOCK. Certificates respecting
the Shares shall be registered in the Participant's name but shall be held by
the Company's transfer agent as escrow holder until the restrictions lapse and
the Shares vest, as set forth on Exhibit A.

4. NO RIGHT TO CONTINUED EMPLOYMENT. Neither the Plan nor this Agreement shall
give the Participant the right to continued employment by the Company or by any
Subsidiary or shall adversely affect the right of the Company or any Subsidiary
to terminate the Participant's employment with or without cause at any time.

5. SECURITIES LAW RESTRICTIONS. Acceptance of this Agreement shall be deemed to
constitute the Participant's certification that Participant is acquiring the
Shares for Participant's own
<PAGE>
account and that Participant has no present intention to sell or otherwise
dispose of any of the Shares and the Participant's acknowledgement that the
Shares shall be subject to such restrictions and conditions on any resale and on
any other disposition as the Company shall deem necessary or desirable under any
applicable laws or regulations or in light of any stock exchange requirements.

6. LEGENDS. In order to enforce the restrictions imposed on the Shares, the
certificates representing such Shares shall bear the following legend:

          THESE SHARES ARE HELD SUBJECT TO THE TERMS OF THE 2004 EQUITY
          INCENTIVE PLAN ("THE PLAN") AND SUCH SHARES MAY ONLY BE TRANSFERRED IN
          ACCORDANCE WITH THE TERMS THEREOF. A COPY OF THE PLAN IS AVAILABLE AT
          THE OFFICE OF THE CORPORATION.

Such legend shall be removed as the restrictions lapse with respect to such
Shares and they vest. The certificates shall also bear the following legend:

          THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
          UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD,
          TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
          STATEMENT UNDER SAID ACT RELATING TO THE SHARES OR AN OPINION OF THE
          CORPORATION'S COUNSEL THAT REGISTRATION IS NOT REQUIRED.

7. MISCELLANEOUS.

     (a) The Participant's rights under this Agreement can be modified,
suspended or canceled only in accordance with the terms of the Plan. This
Agreement may not be changed orally, but may be changed only by an agreement in
writing signed by the party against whom enforcement of any waiver, change,
modification or discharge is sought.

     (b) The invalidity or unenforceability of any provision hereof shall in no
way affect the validity of enforceability of any other provision of this
Agreement.

     (c) This Agreement shall bind all parties, their respective heirs,
executors, administrators and assigns. Nothing contained herein shall be
construed as an authorization or right of any party to assign their respective
rights or obligations hereunder and the Participant shall have no right to
assign this Agreement, and any such attempted assignment shall be ineffective.
This Agreement shall be binding upon the Company and its successors or assigns.

     (d) This Agreement shall be subject to the applicable provisions,
definitions, terms and conditions set forth in the Plan, all of which are
incorporated by this reference in this Agreement and the terms of the Plan shall
govern in the event of any inconsistency between the Plan and this Agreement.

     (e) This Agreement shall be interpreted and construed according to and
governed by the laws of the State of Alabama.

                    [Signatures to appear on following page]
<PAGE>
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above written.

                                        MEDICAL PROPERTIES TRUST, INC.

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        ----------------------------------------
<PAGE>
                                    EXHIBIT A

                                       TO

AWARD AGREEMENT FOR RESTRICTED STOCK dated as of ________________ between
Medical Properties Trust, Inc. and ____________________________.

1.   Date of Award:

2.   Number of Shares of Restricted Common Stock:

3.   Purchase Price per Shares:

4.   Vesting Schedule:

<TABLE>
<CAPTION>
                   Date Restrictions Lapse
Number of Shares       and Shares Vest
----------------   -----------------------
<S>                <C>

</TABLE><PAGE>
                                                                    EXHIBIT 10.5

                              AMENDED AND RESTATED
                         MEDICAL PROPERTIES TRUST, INC.
                           2004 EQUITY INCENTIVE PLAN

                FORM OF AWARD AGREEMENT FOR DEFERRED STOCK UNITS
                         AWARDED TO INDEPENDENT DIRECTOR

THIS AWARD AGREEMENT (the "Agreement") is made and entered into effective as of
_____________________, by and between MEDICAL PROPERTIES TRUST, INC., a Maryland
corporation (the "Company"), and ___________________________ (the
"Participant"), pursuant to the Amended and Restated Medical Properties Trust,
Inc. 2004 Equity Incentive Plan, as it may be further amended and restated from
time to time (the "Plan"). Capitalized terms used but not defined herein shall
have the meanings set forth in the Plan.

                                   WITNESSETH:

WHEREAS, the Participant is an Independent Director; and

WHEREAS, pursuant to the Plan and subject to the execution of this Agreement,
the Committee has granted, and the Participant desires to receive, an Award.

NOW, THEREFORE, for and in consideration of the premises, the mutual promises
and covenants herein contained, and other good and valuable consideration, the
receipt, adequacy and sufficiency of which are hereby acknowledged, the parties
hereto do hereby agree as follows:

ARTICLE I AWARD OF DEFERRED STOCK UNITS. On the date specified on Exhibit A
attached hereto (the "Date of Grant") but subject to the execution of this
Agreement, the Company granted to the Participant an Award in the form of
Deferred Stock Units ("DSUs") entitling the Participant to receive from the
Company, without payment, one share of Common Stock (a "Share") for each DSU set
forth on said Exhibit A.

ARTICLE II EFFECT OF PLAN. The DSUs are in all respects subject to, and shall be
governed and determined by, the provisions of the Plan (all of the terms of
which are incorporated herein by reference) and to any rules which might be
adopted by the Board or the Committee with respect to the Plan to the same
extent and with the same effect as if set forth fully herein. The Participant
hereby acknowledges that all decisions and determinations of the Committee shall
be final and binding on the Participant, his beneficiaries and any other person
having or claiming an interest in the DSUs.

ARTICLE III SETTLEMENT OF DSUS. Each DSU will be settled by delivery to the
Participant, or in the event of the Participant's death to the Participant's
legal representative, promptly following the date or dates set forth on Exhibit
A hereto (any such date, the "Settlement Date") one Share.

ARTICLE IV SURRENDER OF AGREEMENT ON SETTLEMENT DATE. On the Settlement Date,
this Agreement shall be surrendered to the Company.

ARTICLE V NO ASSIGNMENT. The DSUs are personal to the Participant and may not in
any manner or respect be assigned or transferred otherwise than by will or the
laws of descent and distribution.
<PAGE>
ARTICLE VI GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of Alabama, applied without giving effect
to any conflict-of-law principles. The invalidity or unenforceability of any
particular provision of this Agreement shall not affect the other provisions
hereof, and this Agreement shall be construed in all respects as if such invalid
or unenforceable provisions were omitted.

ARTICLE VII BINDING EFFECT. This Agreement shall be binding upon and shall inure
to the benefit of each of the parties hereto and their respective executors,
administrators, personal representatives, legal representatives, heirs, and
successors in interest.

ARTICLE VIII COUNTERPART EXECUTION. This Agreement may be executed in any number
of counterparts, each of which shall be considered an original, and such
counterparts shall, together, constitute and be one and the same instrument.

ARTICLE IX WITHHOLDING. The Company shall have the power and the right to deduct
or withhold, or require the Participant to remit to the Company, an amount
sufficient to satisfy federal, state and local taxes required by law to be
withheld with respect to any taxable event arising as a result of the grant or
settlement of the DSUs. With respect to withholding required upon the settlement
of the DSUs, the Participant may elect, subject to the approval of the
Committee, to satisfy the withholding requirement, in whole or in part, by
having the Company withhold Shares having a Fair Market Value on the date as of
which the tax is to be determined equal to the minimum statutory total tax which
could be imposed on the transaction. All such elections shall be irrevocable,
made in writing, signed by the Participant, and subject to any restrictions or
limitations that the Committee, in its sole discretion, deems appropriate.

IN WITNESS WHEREOF, the Company and the Participant have executed and delivered
this Agreement as of the day and year first written above.

                                        MEDICAL PROPERTIES TRUST, INC.

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        ----------------------------------------
<PAGE>
                                    EXHIBIT A

                                       TO

AWARD AGREEMENT, dated as of ______________________, between MEDICAL PROPERTIES
TRUST, INC. and ___________________________.

(1)  Date of Grant:

(2)  Number of Deferred Stock Units:

(3)  Settlement Schedule:

<TABLE>
<CAPTION>
Number of Shares
 to be Delivered   Settlement Date
----------------   ---------------
<S>                <C>

</TABLE>

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