Document:

EX-10.78

Exhibit 10.78

THIRD AMENDMENT

TO

EMPLOYMENT AGREEMENT

This THIRD AMENDMENT TO EMPLOYMENT AGREEMENT, is made effective as of January 1, 2008, among
MEDICAL PROPERTIES TRUST, INC., a Maryland corporation (the “REIT”), MPT OPERATING PARTNERSHIP,
L.P., a Delaware limited partnership (the “Operating Partnership”, and together with the REIT, the
“Company”), and Edward K. Aldag, Jr. (the “Executive”).

WHEREAS, the Executive and the Company entered into an Employment Agreement dated as of September
10, 2003, as amended by the First Amendment to Employment Agreement dated as of March 8, 2004, as
further amended by the Second Amendment to Employment Agreement dated September 29, 2006 (the
“Employment Agreement”);

WHEREAS, the parties desire to amend the Employment Agreement as provided herein; and

WHEREAS, the Compensation Committee of the Board of Directors of the Company approved the form and
substance of this Amendment at a meeting duly held on November 15, 2007.

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration,
the parties hereby agree as follows:

1. The following Section 8(e) shall be inserted immediately following Section 8(d) of the
Employment Agreement:

(e) SECTION 409 A. Anything in this Agreement to the contrary notwithstanding, if at the time of
the Executive’s separation from service within the meaning of Section 409A of the Code, the Company
determines that the Executive is a “specified employee” within the meaning of Section
409A(a)(2)(B)(i) of the Code, and if any payment or benefit that the Executive becomes entitled to
under this Agreement would be considered deferred compensation subject to interest, penalties and
additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of
Section 409A(a)(2)(B)(i) of the Code, then no such payment shall be payable or benefit shall be
provided prior to the date that is the earlier of (i) six months and one day after the Executive’s
separation from service, or (ii) the Executive’s death. The parties intend that this Agreement will
be administered in accordance with Section 409A of the Code. The parties agree that this Agreement
may be amended, as reasonably requested by either party, and as may be necessary to fully comply
with Section 409A of the Code and all related rules and regulations in order to preserve the
payments and benefits provided hereunder without additional cost to either party.

2. Except to the extent hereby amended, the Employment Agreement is hereby confirmed
and ratified and shall continue in full force and effect.

 

 

3. The effective date of this Amendment is January 1, 2008.

4. This Amendment may be signed in two or more counterparts, each of which shall be an
original, but all of which taken together shall constitute one and the same document.

 

 

IN WITNESS WHEREOF, the parties have executed this Third Amendment to Employment
Agreement as of the date first above written.

	 	 	 	 	 
	 	REIT:

MEDICAL PROPERTIES TRUST, INC.

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and CFO 	 
	 
	 	OPERATING PARTNERSHIP:

MPT OPERATING PARTNERSHIP, L.P.

By:   Medical Properties Trust, LLC

Its:   General Partner

By:   Medical Properties Trust, Inc.

Its:   Sole Member

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and CFO 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ Edward K. Aldag, Jr.
 	 
	 	Edward K. Aldag, Jr.EX-10.79

Exhibit 10.79

FOURTH AMENDMENT

TO

EMPLOYMENT AGREEMENT

This FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT, is made as of January 1, 2009 among MEDICAL
PROPERTIES TRUST, INC., a Maryland corporation (the “REIT”), MPT OPERATING PARTNERSHIP, L.P., a
Delaware limited partnership (the “Operating Partnership”, and together with the REIT, the
“Company”), and Edward K. Aldag, Jr. (the “Executive”).

WHEREAS, the Executive and the Company entered into an Employment Agreement dated as of September
10, 2003, as amended by the First Amendment to Employment Agreement dated as of March 8, 2004, the
Second Amendment to Employment Agreement dated as of September 29, 2006 and the Third Amendment to
Employment Agreement dated as of January 1, 2008 (the “Employment Agreement”); and

WHEREAS, the parties desire to amend the Employment Agreement as provided herein.

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the
parties hereby agree as follows:

Section 9(a) of the Employment Agreement is hereby deleted in its entirety and the following
shall be inserted in lieu thereof:

	 	(a)	 	CHANGE OF CONTROL shall mean the occurrence of any of the following events: (i) any
person, entity or affiliated group, excluding the Company or any employee benefit plan of
the Company, acquiring more than 50% of the then outstanding shares of voting stock of the
Company, (ii) the consummation of any merger or consolidation of the Company into another
company, such that the holders of the shares of the voting stock of the Company
immediately before such merger or consolidation own less than 50% of the voting power of
the securities of the surviving company or the parent of the surviving company, (iii) the
adoption of a plan for complete liquidation of the Company or for the sale or disposition
of all or substantially all of the Company’s assets, such that after the transaction, the
holders of the shares of the voting stock of the Company immediately prior to the
transaction own less than 50% of the voting securities of the acquiror or the parent of
the acquiror, or (iv) during any period of two (2) consecutive years, individuals who at
the beginning of such period constituted the Board (including for this purpose any new
director whose election or nomination for election by the Company’s stockholders was
approved by a vote of at least a majority of the directors then still in office who were
directors at the beginning of such period) cease for any reason to constitute at least a
majority of the Board.

 

 

3. Except to the extent hereby amended, the Employment Agreement is hereby confirmed
and ratified and shall continue in full force and effect.

4. The effective date of this Amendment is January 1, 2009.

5. This Amendment may be signed in two or more counterparts, each of which shall be an
original, but all of which taken together shall constitute one and the same document.

[Signatures to appear on the following page]

 

 

IN WITNESS WHEREOF, the parties have executed this Fourth Amendment to Employment Agreement
as of the date first above written.

	 	 	 	 	 
	 	REIT:

MEDICAL PROPERTIES TRUST, INC.

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and CFO 	 
	 
	 	OPERATING PARTNERSHIP:

MPT OPERATING PARTNERSHIP, L.P.

By:   Medical Properties Trust, LLC 

Its:   General Partner

By:   Medical Properties Trust, Inc. 

Its:   Sole Member

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and CFO 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ Edward K. Aldag, Jr.
 	 
	 	Edward K. Aldag, Jr.EX-10.80

Exhibit 10.80

THIRD AMENDMENT

TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This THIRD AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT, is made effective as of January
1, 2008, among MEDICAL PROPERTIES TRUST, INC., a Maryland corporation (the “REIT”), MPT OPERATING
PARTNERSHIP, L.P., a Delaware limited partnership (the “Operating Partnership”, and together with
the REIT, the “Company”), and William G. McKenzie (the “Executive”).

WHEREAS, the Executive and the Company entered into an Amended and Restated Employment Agreement
dated as of September 10, 2003, as amended on September 29, 2006 and as further amended as of
August 1, 2008 (the “Employment Agreement”); and

WHEREAS, the parties desire to amend the Employment Agreement as provided herein; and

WHEREAS, the Compensation Committee of the Board of Directors of the Company approved the form and
substance of this Amendment at a meeting duly held on January 1, 2008.

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the
parties hereby agree as follows:

1. The following Section 8(e) shall be inserted immediately following Section 8(d) of the
Employment Agreement:

(e) SECTION 409A. Anything in this Agreement to the contrary notwithstanding, if at the time of
the Executive’s separation from service within the meaning of Section 409A of the Code, the Company
determines that the Executive is a “specified employee” within the meaning of Section
409A(a)(2)(B)(i) of the Code, and if any payment or benefit that the Executive becomes entitled to
under this Agreement would be considered deferred compensation subject to interest, penalties and
additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of
Section 409A(a)(2)(B)(i) of the Code, then no such payment shall be payable or benefit shall be
provided prior to the date that is the earlier of (i) six months and one day after the Executive’s
separation from service, or (ii) the Executive’s death. The parties intend that this Agreement
will be administered in accordance with Section 409A of the Code. The parties agree that this
Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully
comply with Section 409A of the Code and all related rules and regulations in order to preserve the
payments and benefits provided hereunder without additional cost to either party.

2. Except to the extent hereby amended, the Employment Agreement is hereby confirmed and ratified
and shall continue in full force and effect.

3. The effective date of this Amendment is January 1, 2008.

4. This Amendment may be signed in two or more counterparts, each of which shall be an original,
but all of which taken together shall constitute one and the same document.

[Signatures to appear on the following page]

 

 

IN WITNESS WHEREOF, the parties have executed this Third Amendment to Amended and Restated
Employment Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 
	 	 	REIT:
	 
	 	 	 	 	 	 	 	 
	 	 	MEDICAL PROPERTIES TRUST, INC.
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ R. Steven Hamner
	 	 	 	 	 
	 	 	 	 	Name:	 	R. Steven Hamner
	 	 	 	 	Title:	 	Executive Vice President and CFO
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	OPERATING PARTNERSHIP:
	 
	 	 	 	 	 	 	 	 
	 	 	MPT OPERATING PARTNERSHIP, L.P.
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Medical Properties Trust, LLC
	 	 	Its:	 	General Partner
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Medical Properties Trust, Inc.
	 	 	Its:	 	Sole Member
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ R. Steven Hamner
	 	 	 	 	 
	 	 	 	 	Name:	 	R. Steven Hamner
	 	 	 	 	Title:	 	Executive Vice President and CFO
	 
	 	 	 	 	 	 	 	 
	 	 	EXECUTIVE:
	 
	 	 	 	 	 	 	 	 
	 	 	/s/ William G. McKenzie
	 	 	 
	 	 	William G. McKenzie

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