Document:

2007 Executive Officer Bonus Plan

 Exhibit 10.61 
 2007 Executive Officer Bonus Plan 
 Objective: 
  

	 	-	Align the interests of employees and shareholders in the future growth and success of ArthroCare Corporation (the “Company”) by rewarding employee performance.

 Bonus Pool: 
  

	 	-	Up to 100% of the Total Bonus Potential of all Eligible Participants during the period of January 1, 2007 through December 31, 2007 (the “Bonus Period”). The
Total Bonus Potential for an Eligible Participant (other than the Company’s CEO) with a base salary of $200,000 shall be $120,000. Twenty-five percent (25%) of the Eligible Participant’s Bonus Potential will be earned the first half
of the year and paid at midyear if the Company achieves 95% of its first six-month performance goals. The Total Bonus Potential of an Eligible Participant, other than the Chief Executive Officer, may be increased or decreased at the sole discretion
of the Chief Executive Officer of the Company. The Total Bonus Potential of the Chief Executive Officer may be increased or decreased at the sole discretion of the Company’s Board of Directors. 

 Eligible Participants: 
  

	 	-	All executive officers of the Company from the period of January 1, 2007 through the payment date of a bonus (the “Bonus Payment Date”) who began employment with the
Company on or before December 31, 2007 and are not ineligible due to performance issues, as approved by the Compensation Committee of the Company’s Board of Directors. Pro rata eligibility for executive officers who start after
January 1, 2007 and remain employed by the Company through the Bonus Payment Date. Executive officers who go on leave of absence will have their bonus prorated for time worked through the Bonus Payment Date. 

 Bonus Potential: 
  

	 	-	60% of base salary for fiscal year end December 31, 2007 for Vice Presidents who are officers of the company 

  

	 	-	75% of base salary for fiscal year end December 31, 2007 for Chief Executive Officer 

 Bonus Factors: 
  

	 	-	 In the event the Company achieves at least 95% (the “Minimum Achievement Level”) of the Total Net Revenue Goal, and Earnings before Income Tax
Depreciation Amortization and non-cash equity Compensation (EBIT-DAC) Goal, a bonus will be earned by each Eligible Participant. The Total Net Revenue Goal, and EBIT-DAC Goal shall be as set forth in the Company’s operating 

	 	 
budget for the period of January 1, 2007 through December 31, 2007, as approved by the Company’s Board of Directors.

  

	 	-	Each of the Total Net Revenue Goal, and EBIT-DAC Goal shall be ascribed a percentage weight totaling 100% in the aggregate, as follows: 

 Total Net Revenue Goal – 70% 
 EBITDAC
Goal – 30% 
  

	 	-	The Minimum Achievement Level is determined by adding the weighted average of the Total Net Revenue Goal (i.e., Total Net Revenue Goal Achieved (as defined below) multiplied by
70%), plus the weighted average of the EBIT-DAC Goal (same formula). If the sum of these percentages is equal to or greater than 95%, a bonus is payable. 

  

	 	-	If the Bonus Achievement Level is between 95% and 100%, then Eligible Participants are eligible for a prorated bonus equal to a 1 to 3 ratio of the bonus achieved. For example, if
the Bonus Achievement Level is 95%, then Eligible Participants are eligible for 85% of their Total Bonus Potential. 

 Bonus Multiplier:

  

	 	-	If the Bonus Achievement Level is in excess of 100%, then Eligible Participants are eligible for 100% of their Total Bonus Potential, plus a percentage of their Total Bonus
Potential equal to three times the portion in excess of 100%. For example, if the Bonus Achievement Level is 110%, then Eligible Participants are eligible for 100% of their Total Bonus Potential, plus 30% of the Total Bonus Potential.

 Defined Terms: 
 Total
Net Revenue shall mean the amount of ArthroCare total net revenue from the period of January 1, 2007 through December 31, 2007. 
 EBITDAC shall mean Earnings before Income Tax, Depreciation, Amortization and non-cash equity Compensation. 
 Total Net
Revenue Goal Achieved shall mean the percentage determined by dividing total net revenue by the Total Net Revenue Goal. 
 EBITDAC
Goal Achieved shall mean the percentage determined by dividing the EBITDAC by the EBITDAC Goal. 
 Bonus Achievement Level shall
mean the actual level of bonus achieved. 
 Any bonuses payable under this 2007 Bonus Plan are subject to the approval of the Company’s Board of
Directors. The Company has the right to make changes in plan participation, the bonus pool or any other aspect of this plan at any time and without prior notice.BRE Properties, Inc. Performance Stock Award Agreement

 Exhibit 10.45 
 BRE PROPERTIES, INC. 
 PERFORMANCE STOCK
AWARD AGREEMENT 
 This Performance Stock Award Agreement (this “Agreement”), dated as of
February 14, 2005 (the “Grant Date”), is entered into by and between BRE Properties, Inc., a Maryland Corporation (the “Company”), and
                             (“Employee”). 
 BACKGROUND 
 The Company and
Employee entered into an Amended and Restated Employment Agreement dated as of January 1, 2005 (the “Employment Agreement”), which provides that, at the discretion of the Compensation Committee of the Board of Directors of the
Company (“Committee”), Employee is eligible to receive long term incentive awards. 
 The Company has established the 1999
BRE Stock Incentive Plan (“Plan”), to provide long term incentive awards, among other things. 
 The Committee has
determined that Employee be granted shares of Common Stock of the Company (“Common Stock”) under the Plan subject to the restrictions stated below and as hereinafter set forth. 
 The Company and Employee intend that the grant of the portion of shares of Common Stock subject to vesting pursuant to Sections 4.2 and 4.3 of this
Agreement qualify as “performance-based compensation” under Section 162(m) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 
 AGREEMENT 
 The parties to this Agreement, intending to be legally bound, agree as follows:

 1. Terms of Plan. All capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings ascribed
thereto in the Plan. Employee confirms and acknowledges that Employee has received and reviewed a copy of the Plan and the Information Statement, dated as of the Grant Date, with respect to the Plan. Employee and the Company agree that the terms and
conditions of the Plan are incorporated in this Agreement by this reference. 
 2. Main Grant of Shares. Subject to the terms and
conditions of this Agreement and of the Plan, including without limitation the vesting provisions set forth in Sections 3 and 4, the Company hereby grants to Employee
                             shares of Common Stock (the “Shares”) under the Plan
which number of Shares shall be subject to adjustment pursuant to Sections 11 and 12. The Shares shall be deemed “Restricted Shares” under the Plan. 
 3. Time Vesting of Shares. At each of the first five anniversaries of the Grant Date, subject to continuous employment with the Company, 2% of the Shares, subject to adjustment pursuant to Section 12,
shall vest and become free of any restriction pursuant to this Agreement. 

 4. Performance Shares. 
 4.1. Definitions. For the purposes of this Agreement the following terms shall have the following meaning: 
 (a) “Absolute TSR” shall mean the Company’s compound annual Shareholder Return during the Performance Period as determined on the
last day of the Performance Period. 
 (b) “EVA Spread” shall mean the amount by which the Performance Period ROIC exceeds
the Performance Period WACC. 
 (c) “FFO” shall mean Funds from Operations as is reported by the Company in accordance with
the White Paper on Funds From Operations, produced by the National Association of Real Estate Investment Trusts, Inc., excluding items reported by the Company as other expenses on its financial statements (which other expenses shall include
non-recurring gains on land sales); provided, however, that if the methodology for determining Funds from Operations shall change due to changes in underlying accounting principles or their application or otherwise, then the Committee may, in
its sole discretion, appropriately adjust the calculation of FFO to make each year’s computation comparable from accounting period to accounting period. 
 (d) “FFO Growth” shall mean the compound average growth rate, expressed as a percentage, during the Performance Period in the FFO per share of Common Stock. 
 (e) “Goals” shall mean the performance goals for FFO Growth, Relative TSR, Absolute TSR and EVA Spread set forth on Exhibit A.

 (f) “Good Cause” shall have the meaning set forth in the Employment Agreement 
 (g) “Good Reason” shall have the meaning set forth in the Employment Agreement. 
 (h) “Maximum” shall mean, with respect to a Goal, the performance metric associated with that Goal under the column labeled
“Maximum” on Exhibit A. 
 (i) “Performance Period” shall mean the period of time between January 1,
2005 through and including December 31, 2009. 
 (j) “Performance Period ROIC” shall mean the average of the Return on
Invested Capital for each of the 20 quarterly periods during the Performance Period. 
 (k) “Performance Period WACC” shall
mean the average of the Weighted Average Cost of Capital for each of the 20 quarterly periods during the Performance Period. 
  

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 (l) “Performance Vesting Date” shall mean December 31, 2009. 
 (m) “REIT Peers” shall mean the ten largest publicly traded multi-family REITs (excluding the Company) as designated by the Company
based on total market capitalization (including shares held by affiliates of such REIT) as determined on the last day of the Performance Period. 
 (n) “Relative TSR” shall mean the percentile ranking of the Company’s total Shareholder Return during the Performance Period measured against the total Shareholder Return of the REIT Peers during the Performance
Period. 
 (o) “Reserve Contribution” shall mean for any particular Goal, if the Goal achieved as of the Performance
Vesting Date is 
 (i) less than or equal to the Target, then zero, 
 (ii) greater than or equal to the Target and less than the Maximum, then the product of (x) the Weighting Factor of such Goal
multiplied by (y) the proportion that the Goal achieved as of the Performance Vesting Date is between the Target and the Maximum, or 
 (iii) greater than the Maximum, then the Weighting Factor of such Goal. 
 (p) “Return on Invested
Capital” shall mean, for a given period, the quotient of (x) the Company’s adjusted EBITDA during such period, as disclosed by the Company in its earnings releases as supplemental financial information, divided by
(y) the average book capitalization for during such period. 
 (q) “Shareholder Return” shall mean, for any period,
the percentage computed by taking the quotient of (x) the sum of the Stock Price on the last trading day of the period plus the dividends per share paid during such period divided by (ii) the Stock Price on the first trading day of
such period. 
 (r) “Stock Price” shall mean, for a given day, the average of the closing prices of a share of Common Stock
or the common stock of the relevant REIT Peer for the 20-trading-day period beginning 10 trading days prior to such date and ending 9 trading days after such date. 
 (s) “Target” shall mean, with respect to a Goal, the performance metric associated with that Goal under the column labeled “Target” on Exhibit A. 
 (t) “Threshold” shall mean, with respect to a Goal, the performance metric associated with that Goal under the column labeled
“Threshold” on Exhibit A. 
 (u) “Vesting Contribution” shall mean for any particular Goal, if the Goal
achieved as of the Performance Vesting Date is 
  

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 (i) less than the Threshold, then zero, 
 (ii) greater than or equal to the Threshold and less than the Target, then the product of (x) the Weighting Factor of such Goal
multiplied by (y) the sum of (i) 55.00% plus (ii) the product of (A) the proportion that the Goal achieved as of the Performance Vesting Date is between the Threshold and the Target multiplied by
(B) 45.00%, 
 (iii) greater than or equal to the Target, then the Weighting Factor of such Goal. 
 (v) “Weighted Average Cost of Capital” shall mean, for a given period, the Company’s weighted average cost of capital (comprised
of Common Stock, Preferred Stock and liabilities other than accounts payable and other similar short-term liabilities and accrued expenses) during such period. 
 (w) “Weighting Factor” shall mean, with respect to a Goal, the percentage associated with that Goal under the column labeled “Weighting Factor” on Exhibit A. 
 4.2. Vesting Performance Shares. 
 (a) The Shares that are not subject to vesting pursuant to Section 3, but excluding the Earned Dividend Shares (defined below) that shall vest in accordance with part (a) of the last sentence of Section 11.1, shall, subject
to Sections 5 and 6, vest on the Performance Vesting Date with respect to that percentage (the “Vesting Contribution”) of the Shares determined pursuant to this Section 4.2. 
 (b) The Vesting Contribution shall be determined as of the Performance Vesting Date as soon as all of the information reasonably necessary for
determining the Vesting Contribution is available (such date of determination, the “Vesting Determination Date”). If any of the information reasonably necessary for determining the Vesting Contribution is not available through the
end of the last Relevant Year and is not expected to be available within 60 days of the Performance Vesting Date, then, with respect to such year (and only for that information that is not available), the year to date information available through
the most recent quarter shall, if appropriate, be annualized and applied to the computations required by this Section 4 as though such information represented the information for the full year. The aggregate Vesting Contribution shall be
computed as the sum of the Vesting Contribution for each of the Goals. 
 (c) The Committee shall have sole responsibility for determining
and shall certify the computation of the Vesting Contributions and the amount of Shares that shall vest pursuant to this Section 4.2. 
 4.3. Grant and Issuance of Reserve Performance Shares. 
 (a) The Company has reserved for issuance to Employee up to
                             shares of Common Stock (as adjusted for any stock splits, stock
dividends, reclassifications or similar events) (the “Reserve Performance Shares”) to be granted and issued 

  

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to Employee pursuant to this Section 4.3. If pursuant to the Company’s determination pursuant to Section 4.2 it is determined that any Goal
achieved as of the Performance Vesting Date is greater than the Target for such Goal, then the Company shall grant and issue to Employee a number of the Reserve Performance Shares equal to the product of (x) the sum of the Reserve Contributions
for each Goal multiplied by (y) the number of share the Company has reserved for issuance to Employee. 
 (b) If Employee shall
be entitled to receive any Reserve Performance Shares, then the Company shall, promptly after the determination pursuant to Section 4.2, issue to Employee a stock certificate representing the number of Reserve Performance Shares determined in
accordance with Section 4.3(a) (the “Reserve Certificate”). The Reserve Certificate shall not have endorsed thereon the legend set forth in Section 8 and the Company shall not retain or otherwise escrow or withhold the
Reserve Certificate from Employee pursuant to this Agreement. 
 (c) For the sake of clarity, the term “Shares” as used in this
Agreement shall not include the Reserve Performance Shares. Employee shall have no rights as a shareholder (including voting rights or rights to dividends) with respect to any Reserve Performance Shares until such time as they may become issuable
pursuant to Section 4.3(a). 
 5. Vesting of Shares Upon Change in Employment Status. 
 5.1. Termination Without Cause, Resignation With Good Reason or Retirement. Notwithstanding Sections 3 and 4, if prior to the Performance Vesting
Date Employee’s Employment Agreement and employment with the Company is terminated by Employee due to Good Reason or retirement on or after the Retirement Age, or by the Company for other than Good Cause, then effective as of the date of such
termination a number of unvested Shares that otherwise could have vested pursuant to Sections 3, 4 and 11.1 shall vest in accordance with the formula set forth below: 
  

					
	 X
	  	=	  	A / 365 * 4% * (B - C)
	
	 Where,

			
	A	  	=	  	the number of days that have elapsed between the Grant Date and the date of the termination of employment;
			
	B	  	=	  	the number of Shares subject to this Agreement; and
			
	C	  	=	  	the number of Shares that shall have vested pursuant to Section 3 prior to the date of the termination of employment.

 5.2. Termination for Cause or Resignation Without Good Reason. Notwithstanding Sections 3
and 4, if Employee’s Employment Agreement and employment with the Company is terminated by the Company for Good Cause or Employee resigns without Good Reason prior to the Performance Vesting Date, all of the then-unvested Shares and any right
to any Reserve Performance Shares shall be forfeited by Employee, ownership of all such unvested Shares shall transfer back to the Company and Employee shall have no further rights with respect to any of such unvested Shares or any Reserve
Performance Shares. 
  

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 5.3. Termination Upon Death or Disability. Notwithstanding Sections 3 and 4, if prior to the
Performance Vesting Date Employee’s Employment Agreement and employment with the Company is terminated by Employee due to death or Disability, then effective as of the date of such termination of employment a number of unvested Shares that
otherwise could have vested pursuant to Sections 3, 4, and 11.1 shall vest in accordance with the formula set forth below: 
  

					
	X	  	 =
	  	(A + 1) * 25% * (B - C)
	
	Where,
			
	A	  	=	  	the number of whole, non-fractional years (without giving effect to any rounding principles) that have elapsed between the Grant Date and the date of the termination of
employment;
			
	B	  	=	  	the number of Shares subject to this Agreement; and
			
	C	  	=	  	the number of Shares that shall have vested pursuant to Section 3 prior to the date of the termination of employment.

 5.4. Termination Following a Change in Control. If within 12 months after the effective
date of a Change in Control (as defined in the Employment Agreement) Employee’s Employment Agreement and employment with (i) the Company, (ii) an affiliate of the Company (as such term is defined in the Exchange Act) or
(iii) such entity that the Company has merged or consolidated with or an affiliate (as such term is defined in the Exchange Act) of such entity (such entity or affiliate in (i), (ii) or (iii), the “Continuing Employer”) is
terminated by Employee for Good Reason or by the Continuing Employer without Good Cause, then, notwithstanding Sections 3 and 4, 100% of the then-unvested Shares that otherwise could have vested pursuant to Sections 3 and 4 shall automatically vest
on the date of such termination of employment, provided, however, that if prior to such termination the outstanding shares of common stock of the Company shall been exchanged or converted into the right to receive other securities,
cash or property, whether pursuant to a merger, consolidation or sale of all or substantially all of the assets of the Company (a “Conversion Event”), then each Share that could vest pursuant this Section 5.4 shall immediately
after such Conversion Event represent the right to receive such other securities, cash or property that Employee would have received or been entitled to had such Share been outstanding immediately prior to such Conversion Event. Employee and Company
agree that any termination of Employee’s Employment Agreement with the Company attendant to any Change in Control in which Employee is, in connection with such Change in Control, hired as an employee of a Continuing Employer shall not be deemed
a termination of Employee’s Employment Agreement with a Continuing Employer for purposes of this Section 5.4 unless Employee resigns following the Change of Control for Good Reason. 
 6. Vesting of Shares and Issuance of Reserve Shares upon Committee Action. Notwithstanding Sections 3, 4 and 5, the Committee reserves its right,
exercisable at its sole 

  

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discretion, including under Section 4.2 of the Plan to accelerate the vesting of all or any portion of any unvested Shares or issue all or any portion
of the Reserve Shares, including in connection with a Change in Control. 
 7. Restrictions Period. The period of time between the
Grant Date and the date Shares become vested is referred to herein as the “Restriction Period.” Until a Share becomes vested in accordance with Section 3, 4, 5 or 6, neither such Share nor any beneficial interest therein shall be
sold, transferred, assigned, pledged, encumbered or otherwise disposed of in any way at any time (including, without limitation, by operation of law) other than (i) to the Company or its assignees or (ii), after written notice to the Company
identifying the transferee to the reasonable satisfaction of the Company, to an intervivos or testamentary trust for the benefit of the Employee and/or the Employee’s spouse during the Employee’s life or to such other person or persons
(individually or as trustee or trustees of a trust), for estate planning or gifting purposes, as the Committee may specifically approve. Any permitted transferee of Shares or any interest therein shall be required as a condition of such transfer to
agree in writing, in form satisfactory to the Company, that it shall receive and hold such Share or interest subject to the provisions of this Agreement, including but not limited to the forfeiture provisions hereof. For purposes of this Agreement,
the term “Employee” shall include such a permitted transferee when appropriate. 
 8. Legend. All certificates representing
any Shares which are not vested shall have endorsed thereon during the Restriction Period the following legend: 
 THE SHARES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION. 
 9. Retention of Certificate. The certificate or certificates evidencing any of the unvested Shares shall be deposited with the Secretary of the Company. The Shares may also be held in a restricted book entry
account in the name of Employee. Such certificates or such book entry shares are to be held by the Company until termination of the Restriction Period, when they shall be released by the Company to Employee, provided that, if the number of
the Shares ultimately vested in Employee as of the Vesting Determination Date is different than the Grant Amount, then the certificate originally issued shall be cancelled and a new certificate representing the number of the Shares that have vested
in Employee shall be delivered to Employee and all of the unvested Shares outstanding immediately after the Vesting Determination Date shall be forfeited by Employee, ownership of all such unvested Shares shall transfer back to the Company and
Employee shall have no further rights with respect to any of such unvested Shares. 
 10. Employee Shareholder Rights. During the
Restriction Period, Employee shall have all the rights of a shareholder with respect to unvested Shares except for the right to transfer the Shares (as set forth in Section 7) and the right to receive dividends (subject to Section 11) with
respect to such unvested Shares. Accordingly, Employee shall have the right to vote the Shares. 
  

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 11. Dividends on Unvested Shares. 
 11.1. Notwithstanding Section 10, if the Company shall declare a cash dividend on shares of Common Stock at any time during the Performance Period,
then a number of the Shares equal to (x)              minus (y) the number of Shares that shall have vested pursuant to Section 3 (the “Non Dividend
Earning Shares”), shall not receive such dividend, however, the number of Shares subject to this Agreement shall be increased by and the Company shall issue to Employee (subject to Section 9) immediately after such dividend a number of
shares of Common Stock equal to (x) the amount of cash dividends Employee would have received with respect to such Non Dividend Earning Shares if such dividend would have been paid with respect to such Non Dividend Earning Shares divided
by (y) the closing price of a share of Common Stock on the payment date for such dividend. Of the shares of Common Stock which shall be made subject to this Agreement which are issuable in lieu of any cash dividend on the Non Dividend
Earning Shares pursuant to the foregoing sentence (the “Earned Dividend Shares”), (a) 10% of such Earned Dividend Shares shall vest and become free of any restriction pursuant to this Agreement at the end of the Performance
Period and (b) 90% of such Earned Dividend Shares shall vest pursuant to Section 4.2. 
 11.2. The Shares which are not Non
Dividend Earning Shares are referred to in this Section 11.2 as “Dividend Earning Shares.” Notwithstanding Section 10, if the Company shall declare a cash dividend on shares of Common Stock at any time during the
Performance Period, then Employee shall be entitled to then receive with respect to each Dividend Earning Share the amount of the cash dividend payable with respect to such Dividend Earning Share. 
 12. Changes in Capitalization. In the event that as a result of (a) any stock dividend, stock split or other change in the outstanding shares
of Common Stock, or (b) any merger or sale of all or substantially all of the assets or other acquisition of the Company, and by virtue of any such change Employee shall in his/her capacity as owner of unvested Shares (the “Prior
Stock”) be entitled to new or additional or different shares or securities, such new or additional or, different shares or securities shall thereupon be considered to be unvested Stock and shall be subject to all of the conditions and
restrictions which were applicable to the Prior Stock pursuant to this Agreement. 
 13. Taxes. Employee shall be liable for any and
all taxes, including withholding taxes, arising out of the grant, issuance or vesting of Shares or any grant or issuance of Reserve Performance Shares hereunder. Employee may elect to satisfy such withholding tax obligation by having the Company
retain Shares or Reserve Performance Shares, if applicable, having a fair market value equal to the Company’s minimum withholding obligation. To minimum extent reasonably determined by the Company to be necessary, the Company shall defer
delivery of vested Shares to avoid any adverse tax consequences to the Employee under Section 409A of the Internal Revenue Code of 1986, as amended. As of the date this Employment Agreement has been executed, it is not expected the preceding
sentence would apply except potentially to Earned Dividend Shares to vest pursuant to part (a) of the last sentence of Section 11.1. 
 14. Fractional Shares. The Company shall not be required to deliver any fractional Shares that may vest or become issuable pursuant to this Agreement or record or issue any fractional Share that may be issuable pursuant to
Section 11 or 12. In lieu of any delivery, 

  

 8 

 
recordation or issuance of any such fractional Share, the Company shall, at such time as such fractional Share would otherwise be deliverable, subject to
recording or issuable, pay to Employee an amount in cash (rounded to the nearest whole cent) equal to product of (x) the Stock Price at such time multiplied by (y) the fraction of a Share to which Employee would otherwise be
entitled. 
 15. Miscellaneous. 
 15.1. Acknowledgement Regarding SOX Section 304. Employee acknowledges that the Shares that may vest or the and Reserve Performance Shares that may be granted pursuant to this Agreement may be subject to forfeiture or Employee
may be required to reimburse the Company for the value of such Shares and Reserve Performance Shares, if applicable, pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, if the Company is required to prepare an accounting restatement due
to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under federal securities laws. 
 15.2. Transfers in Violation of Restrictions. The Company shall not be required (i) to transfer on its books any Shares which shall have been sold or transferred in violation of any of the provisions set forth in this Agreement,
or (ii) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares shall have been so transferred. 
 15.3. Further Assurances. The parties agree to execute such further instruments and to take such action as may reasonably be necessary to carry
out the intent of this Agreement. 
 15.4. Notices. Any notice required or permitted hereunder shall be given in writing and shall be
deemed effectively given upon delivery to Employee at such Employee’s address then on file with the Company. 
 15.5. No Employment
Guarantee. Neither the Plan nor this Agreement nor any provisions under either shall be construed so as to grant Employee any right to remain in the employ of the Company and neither alters Employee’s at-will status. 
 15.6. Arbitration. This Agreement shall be governed by the arbitration provisions of the Employment Agreement, including the provision relating to
recovery of reasonable attorneys’ fees, costs, and expenses. 
  

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 15.7. Entire Agreement. This Agreement, including the Plan, and the Employment Agreement
constitute the entire agreement of the parties with respect to the subject matter hereof. 
 IN WITNESS WHEREOF, the parties have
executed this Agreement as of the date first written above. 
  

			
	BRE PROPERTIES, INC.	 	EMPLOYEE
		
	  
	 	  

  

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 EXHIBIT A 
 GOALS AND PERFORMANCE METRICS 
  

									
	 Goal
	  	 Metric

	 Description
	  	 Weighting Factor
	  	 Threshold
	  	 Target
	  	 Maximum

	 FFO Growth
	  	16.67%	  	5.00%	  	8.00%	  	14.00%
	 Relative TSR
	  	33.33%	  	50th Percentile	  	70th Percentile	  	90th Percentile
	 Absolute TSR
	  	22.22%	  	6.00%	  	9.00%	  	15.00%
	 EVA Spread
	  	27.78%	  	+120 basis points	  	+150 basis points	  	+180 basis points

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