Document:

Exhibit 10.29

    
      

    

     

    Exhibit
      10.29

     

    

       

      

       

       

      EMPLOYMENT
        AGREEMENT 

       

       

              Employment
        Agreement (this "Agreement") dated as of June 15, 2005 (the "Effective Date"),
        by and between Internap Network Services Corporation (the "Company") and
        James
        Eric Klinker ("Executive") (collectively the "Parties"). 

       

       

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      1.    Position
        and Duties.
        Executive shall
        serve as the Vice President of Engineering & Chief Technology Officer for
        the Company, with such duties, authorities and responsibilities as are
        commensurate with such position. Executive shall report to the Company's
        Chief
        Executive Officer (“CEO”) and shall work from the Company's offices in Atlanta,
        Georgia. 

       

       

      2.    Base
        Salary.
        Executive shall
        receive an annual base salary of $ 180,000 ("Base Salary"). Payment of Base
        Salary shall be subject to standard payroll tax withholdings and deductions.
        Executive's Base Salary shall be paid semi-monthly in accordance with the
        Company's standard payroll practices. Executive's Base Salary may be increased
        or decreased from time to time by the CEO in consultation with the Company's
        Board of Directors or the Compensation Committee of such Board of Directors
        (in
        either case, the "Board") in their sole discretion.

       

       

      3.    Performance-Based
        Bonus.
        Executive shall
        participate in the Company’s Annual Incentive Plan (“Bonus”) for Executive and
        other senior executive officers. The Executive’s Bonus maximum target for 2005
        shall be 45% of Executive's Base Salary, depending on individual and Company
        performance metrics. Performance metrics for and target amount of the Bonus
        for
        2006 and each subsequent calendar year shall be established on or before
        March
        31 of the year to which the Bonus relates. The CEO, in consultation with
        the
        Board and in their sole and reasonable discretion, shall determine, on or
        before
        March 31 of the year in which the Bonus would be payable, whether a Bonus
        is
        payable and, if so, the amount of such Bonus. Unless otherwise determined
        by the
        Board, all Bonus payments shall be made on the Company's first regular payroll
        date following such determination and shall be subject to standard payroll
        tax
        withholdings and deductions. To be eligible for a Bonus, Executive must be
        continuously employed by the Company through the date on which the Bonus
        is
        paid. Executive recognizes and agrees that: (a) the Company may in its sole
        discretion and with reasonable notice to Executive determine that any Bonus,
        if
        payable, may be paid in whole or in part in the Company’s common stock or other
        equity securities, including restricted stock and stock options; and (b)
        the
        Company may in its sole discretion suspend or discontinue any bonus program
        at
        any time without any liability on the part of the Company.

       

       

      4.    Employee
        Benefits. Executive
        shall be
        entitled to participate in all employee benefit, welfare and other plans
        and
        programs generally applicable to employees of the Company. Except as provided
        herein, the Company reserves the right to modify Executive's compensation
        and
        benefits from time to time, as it deems necessary

       

       

      5.    Vacation.
        Executive shall
        accrue twenty (20) days of combined vacation/sick leave annually. Executive
        also
        shall receive three (3) personal days each year. Executive shall have the
        right to carry over unused vacation from any one-year period to any other
        subsequent one-year period.   

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      6.    Nature
        of Employment.
        Executive's
        employment with the Company shall be at-will. Both Executive and the Company
        shall have the right to terminate the employment relationship at any time,
        with
        or without cause, and with or without advance notice. 

       

       

      7.    Severance
        Payments. Upon
        Executive's
        involuntary termination by the Company of employment without Cause (as defined
        below), Executive shall receive a cash severance payment equal to the product
        of
        (x) the number of days that Executive is an employee of the Company, divided
        by
        365 (provided that the foregoing ratio shall never exceed one (1) and (y)
        Executive’s then-current Base Salary. Payment of such severance amounts shall be
        subject to standard payroll tax withholdings and deductions. In
        addition to the
        severance benefits provided above, upon Executive's involuntary termination
        of
        employment without Cause, all of Executive’s unvested Options and Additional
        Equity Compensation shall lapse and expire, and all of Executive’s vested
        Options shall remain exercisable no later than three months after the date
        of
        termination. No payment or acceleration of Options or Additional Equity
        Compensation shall be made pursuant to this Section 8 unless prior to or
        concurrent with such payment a valid release has been executed and delivered
        by
        Executive and becomes effective in accordance with Section 11 hereof.
        Notwithstanding the immediately preceding sentence, Executive shall not be
        entitled to any benefits or rights under this Section 8 if Executive also
        is eligible for payments and/or benefits under Section 9 hereof.

       

       

      8.    Change
        in Control Payments and Acceleration.
        Upon Executive's
        involuntary termination of employment without Cause (as defined below) or
        voluntary termination of employment for Good Reason, in either case within
        12
        months after
        a Change in
        Control, (i) the Company shall pay Executive a cash severance payment equal
        to
        two times the sum of Executive's then-current Base Salary and maximum target
        Bonus and (ii) all of Executive’s unvested Options and Additional Equity
        Compensation shall become vested, free of restrictions and immediately
        exercisable for the remaining term of the relevant grant or award.

       

       

      Payment
        of such
        severance payments shall be subject to standard payroll tax withholdings
        and
        deductions. 

       

       

      No
        payment or acceleration of Options or Additional Equity Compensation shall
        be
        made unless prior to or concurrent with such payment a valid release has
        been
        executed and delivered by Executive and becomes effective in accordance with
        Section 11 hereof. 

       

       

      Executive
        will
        continue to receive the healthcare and life insurance coverages in effect
        on his
        date of termination for twenty-four (24) months after the date of termination
        pursuant to this Section 9 just as if he had remained an active employee
        of the
        Company, subject to Executive paying the customary employee portion of such
        coverages, provided that if the Company cannot continue to cover Executive
        under
        its plans, the Company will separately provide Executive with comparable
        coverages or pay Executive in a lump sum the costs of such
        coverages.

       

      For
        purposes of
        this Agreement, "Change in Control” shall mean the happening of any of the
        following events:

      

      (i)
        An acquisition
        by any individual, entity or group (within the meaning of Section 13 (d)
        (3) or
        14 (d) (2) of the Exchange Act) (an "Entity") of beneficial 

      
        
           

        

        
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      ownership
        (within
        the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more
        of
        either (A) the then outstanding shares of common stock of the Company (the
        "Outstanding Company Common Stock") or (B) the combined voting power of the
        then
        outstanding voting securities of the Company entitled to vote generally in
        the
        election of directors (the "Outstanding Company Voting Securities"); excluding,
        however, the following: (1) any acquisition directly from the Company, other
        than an acquisition by virtue of the exercise of a conversion privilege unless
        the security being so converted was itself acquired directly from the Company,
        (2) any acquisition by the Company, (3) any acquisition by any employee benefit
        plan (or related trust) sponsored or maintained by the Company or any
        corporation controlled by the Company, or (4) any acquisition by any corporation
        pursuant to a transaction which complies with clauses (A), (B) and (C) of
        subsection (iii) of this Section; 

      

      (ii)
        A change in
        the composition of the Board such that the individuals who, as of the Effective
        Date, constitute the Board (such Board shall be hereinafter referred to as
        the
        "Incumbent Board") cease for any reason to constitute at least a majority
        of the
        Board; provided, however, that for purposes of this definition, any individual
        who becomes a member of the Board subsequent to the Effective Date, whose
        election, or nomination for election, by the Company’s stockholders was approved
        by a vote of at least a majority of those individuals who are members of
        the
        Board and who were also members of the Incumbent Board (or deemed to be such
        pursuant to this proviso) shall be considered as though such individual were
        a
        member of the Incumbent Board; and provided, further however, that any such
        individual whose initial assumption of office occurs as a result of or in
        connection with either an actual or threatened election contest (as such
        terms
        are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange
        Act) or
        other actual or threatened solicitation of proxies or consents by or on behalf
        of an Entity other than the Board shall not be so considered as a member
        of the
        Incumbent Board;

      

      (iii)
        The approval
        by the stockholders of the Company of a merger, reorganization or consolidation
        or sale or other disposition of all or substantially all of the assets of
        the
        Company (each, a "Corporate Transaction") or, if consummation of such Corporate
        Transaction is subject, at the time of such approval by stockholders, to
        the
        consent of any government or governmental agency, the obtaining of such consent
        (either explicitly or implicitly by consummation); excluding however, such
        a
        Corporate Transaction pursuant to which (A) all or substantially all of the
        individuals and entities who are the beneficial owners, respectively, of
        the
        Outstanding Company Common Stock and Outstanding Company Voting Securities
        immediately prior to such Corporate Transaction will beneficially own, directly
        or indirectly, more than 60% of, respectively, the outstanding shares of
        common
        stock, and the combined voting power of the then outstanding voting securities
        entitled to vote generally in the election of directors, as the case may
        be, of
        the corporation resulting from such Corporate Transaction (including, without
        limitation, a corporation or other Person which as a result of such transaction
        owns the Company or all or substantially all of the Company's assets either
        directly or through one or more subsidiaries (a "Parent Company")) in
        substantially the same proportions as their ownership, immediately prior
        to such
        Corporate Transaction, of the Outstanding Company Common Stock and Outstanding
        Company Voting Securities, as the case may be, (B) no Entity (other than
        the
        Company, any employee benefit plan (or related trust) of the Company, such
        corporation resulting from such Corporate Transaction or, if reference was
        made
        to equity ownership of any Parent Company for purposes of determining whether
        clause (A) above is satisfied in connection with the applicable Corporate
        Transaction, such 

      
        
           

        

        
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      Parent
        Company)
        will beneficially own, directly or indirectly, 50% or more of, respectively,
        the
        outstanding shares of common stock of the corporation resulting from such
        Corporate Transaction or the combined voting power of the outstanding voting
        securities of such corporation entitled to vote generally in the election
        of
        directors unless such ownership resulted solely from ownership of securities
        of
        the Company prior to the Corporate Transaction, and (C) individuals who were
        members of the Incumbent Board will immediately after the consummation of
        the
        Corporate Transaction constitute at least a majority of the members of the
        board
        of directors of the corporation resulting from such Corporate Transaction
        (or,
        if reference was made to equity ownership of any Parent Company for purposes
        of
        determining whether clause (A) above is satisfied in connection with the
        applicable Corporate Transaction, of the Parent Company); or 

      

      (iv)
        The approval
        by the stockholders of the Company of a complete liquidation or dissolution
        of
        the Company.

      

      For
        purposes of
        this Agreement, “Cause” shall mean:

      

      (i)
        Executive's
        conviction (including a plea of guilty or nolo contendere) of a crime involving
        theft, fraud, dishonesty or moral turpitude;

      

      (ii)
        violation by
        Executive of the Company's Code of Conduct or other material written
        policies;

      

      (iii)
        gross
        omission or gross dereliction of any statutory, common law or other duty
        of
        loyalty to the company or any of its affiliates; or

      

      (iv)
        repeated
        failure to carry out the duties of Executive's position despite specific
        instructions to do so.

      

      Executive
        shall not
        be deemed to have been terminated for “Cause” until there shall have been
        delivered to him written notice, not less than ten (10) days prior to the
        proposed termination date, specifying the basis for such
        termination.

      

       

      For
        purposes of
        this Agreement, Good Reason shall mean any one of the following events which
        occurs without Executive's written consent: (i) any significant diminution
        in Executive's title, authority or responsibility, including any change in
        the
        reporting relationship between Executive and the CEO; (ii) any significant
        reduction in Executive's then current total compensation from that compensation
        paid in the prior fiscal year or calendar year; or (iii) a change of more
        than fifty (50) miles from Executive's permanent workplace without
        Executive's consent. 

       

      
        
           

        

        
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              9.  Parachute
        Payments.
        If any cash
        compensation payment, employee benefits or acceleration of vesting of stock
        options or other stock awards Executive would receive in connection with
        a
        Change in Control ("Payment") would (i) constitute a "parachute payment"
        within the meaning of Section 280G of the Internal Revenue Code of 1986, as
        amended (the "Code"), and (ii) but for this sentence, be subject to the
        excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then
        such Payment shall be equal to the Reduced Amount. The "Reduced Amount" shall
        be
        either (x) the largest portion of the Payment that would result in no
        portion of the Payment being subject to the Excise Tax or (y) the largest
        portion, up to and including the total, of the Payment, whichever amount,
        after
        taking into account all applicable federal, state and local employment taxes,
        income taxes, and the Excise Tax (all computed at the highest applicable
        marginal rate), results in Executive's receipt, on an after-tax basis, of
        the
        greater amount of the Payment notwithstanding that all or some portion of
        the
        Payment may be subject to the Excise Tax. If a reduction in payments or benefits
        constituting "parachute payments" is necessary so that the Payment equals
        the
        Reduced Amount, reduction shall occur in the following order unless Executive
        elects in writing a different order: reduction of cash payments; reduction
        of
        employee benefits; and cancellation of accelerated vesting of stock awards.
        In
        the event that acceleration of vesting of stock award compensation is to
        be
        reduced, such acceleration of vesting shall be cancelled in the reverse order
        of
        the date of grant of Executive's stock awards unless Executive elects in
        writing
        a different order for cancellation. The accounting firm engaged by the Company
        for general audit purposes as of the day prior to the effective date of the
        Change in Control shall perform the foregoing calculations. If the accounting
        firm so engaged by the Company is serving as accountant or auditor for the
        individual, entity or group effecting the Change in Control, the Company
        shall
        appoint a nationally recognized accounting firm to make the determinations
        required hereunder. The Company shall bear all expenses with respect to the
        determinations by such accounting firm required to be made hereunder. The
        accounting firm engaged to make the determinations hereunder shall provide
        its
        calculations, together with detailed supporting documentation, to the Company
        and Executive within fifteen (15) calendar days after the date on which
        Executive's right to a Payment arises (if requested at that time by the Company
        or Executive) or at such other time as requested by the Company or Executive.
        If
        the accounting firm determines that no Excise Tax is payable with respect
        to a
        Payment, either before or after the application of the Reduced Amount, it
        shall
        furnish the Company and Executive with an opinion reasonably acceptable to
        Executive that no Excise Tax will be imposed with respect to such Payment.
        Any
        good faith determination of the accounting firm made hereunder shall be final,
        binding and conclusive upon the Company and Executive. 

      

      10.
        Release.
        Upon termination
        of Executive's employment, unless Executive shall have executed and provided
        the
        Company with an effective release in a form reasonably satisfactory to the
        Company, Executive shall not receive any severance payments or benefits provided
        under this Agreement. 

      

      11.
        Confidentiality.  Executive
        agrees
        that information not generally known to the public to which he will be exposed
        as a result of his employment by the Company is confidential information
        that
        belongs to the Company. This includes information developed by Executive,
        alone
        or with others, or entrusted to the Company by its customers or others. The
        Company’s confidential information includes, without limitation, information
        relating to the Company’s trade secrets, research and development, inventions,
        know-how, software, procedures, accounting, marketing, sales, creative and
        marketing strategies, employee 

      
        
           

        

        
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      salaries
        and
        compensation, and the identities of customers and active prospects to the
        extent
        not publicly disclosed (collectively, "Confidential Information"). Executive
        will hold the Company’s Confidential Information in strict confidence, and not
        disclose or use it except as authorized by the Company and for the Company’s
        benefit.

      

      Executive
        further
        acknowledges and agrees that in order to enable the Company to perform services
        for its customers or clients, such customers or clients may furnish to the
        Company certain Confidential Information, that the goodwill afforded to the
        Company depends upon the Company and its employees preserving the
        confidentiality of such information, and that such information shall be treated
        as Confidential Information of the Company for all purposes under this
        Agreement.

       

      12.
        Non-Competition. Executive
        recognizes and agrees that Internap has many substantial, legitimate business
        interests that can be protected only by his agreement not to compete with
        Internap under certain circumstances. These interests include, without
        limitation and on a national basis, Internap's contacts and relationships
        with
        its clients and active prospects, Internap's reputation and goodwill in the
        industry, and Internap's rights in its Confidential Information. Therefore,
        Executive agrees that during the term of his employment with Internap and
        for a
        period of one (1) year after his employment ends for any reason whatsoever
        and
        except as provided in the paragraph immediately following, he shall not,
        voluntarily or involuntarily, directly or indirectly, on his own behalf or
        on
        the behalf of another, whether as an employee, contractor, consultant, director
        or agent or in another capacity, engage in the businesses of (i) managed
        high
        performance Internet connectivity, (ii) hosting or collocation services,
        (iii)
        virtual private network services (iv) content distribution network services
        or
        (v) any other line of business in which the company is then engaged for (x)
        any
        account that is a customer of Internap or its affiliates unless he is providing
        substantially different services to any such customer from the services he
        provided to Internap or (y) any competitor of Internap or its
        affiliates. 

      

      If,
        within one year
        after commencement of Executive’s employment with the Company, Executive
        voluntarily terminates such employment or such employment is terminated for
        any
        reason by the Company, the non-compete period shall be equal to the number
        of
        days that Executive was an employee of the Company prior to such termination.
        

      

      Executive
        also
        agrees that during the term of his employment with Internap and for a period
        of
        one (1) years after such employment ends for any reason whatsoever, he shall
        not
        directly or indirectly employ or seek to employ any person employed by Internap
        nor directly or indirectly solicit or induce any such person to leave Internap.
        

       

      Executive
        acknowledges that the breach or threatened breach of the above noncompetition
        and/or nondisclosure provisions would cause irreparable injury to Internap
        that
        could not be adequately compensated by money damages. Internap may obtain
        a
        restraining order and/or injunction prohibiting my breach or threatened breach
        of the noncompetition and/or nondisclosure provisions, in addition to any
        other
        legal or equitable remedies that may be available. Executive agrees that
        the
        above noncompetition provision, including its duration, scope and geographic
        extent, is fair and reasonably necessary to protect Internap's client
        relationships, goodwill, Confidential Information and other protectable
        interests.  

      
        
           

        

        
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      Provided
        that
        Executive has been employed with the Company for at least one year, if Executive
        wishes to compete with the Company during the one-year period after his
        termination of employment, Executive will submit a bona fide written offer
        of
        employment he has received from a prospective employer to the Company’s Chief
        Executive Officer and General Counsel, who will analyze such proposed employment
        in light of the then current facts and circumstances. The Chief Executive
        Officer may, in his sole and reasonable discretion, provide a written waiver
        of
        all or a portion of the non-compete limitations imposed on Executive. If
        such
        written waiver is unreasonably withheld, Executive shall remain subject to
        the
        non-compete limitations. The non-solicitation obligations set forth above
        are
        not subject to the potential waiver described in the preceding sentence and
        will
        remain in full force and effect pursuant to its terms. Executive will fully
        defend, indemnify and hold harmless the Company for any claims brought against
        it by Executive or third parties as a result of any decision the Company
        makes
        not to waive Executive's non-compete obligations. 

      

      13.    No
        Restrictions.
        No Restrictions.
        Executive represents to the Company that he has not executed or is not bound
        by
        any non-competition covenant or non-solicitation covenant or any other
        undertaking similar to either of the foregoing that would prevent him from
        performing the duties and responsibilities of the position set forth in Section
        1 of this Agreement.

      

      14.    General
        Provisions. This
        Agreement is
        intended to bind and inure to the benefit of and be enforceable by Executive,
        the Company and their respective successors, assigns, heirs, executors,
        administrators, except that Executive may not assign any of his duties hereunder
        and Executive may not assign any of his rights hereunder without the written
        consent of the Company, which shall not be withheld unreasonably. 

      

      This
        Agreement,
        together with the Exhibits, constitutes the complete, final and exclusive
        embodiment of the entire agreement between the Parties with regard to the
        subject matter hereof. It is entered into without reliance on any promise
        or
        representation, written or oral, other than those expressly contained herein,
        and it supersedes any other such promises or representations. 

      

      This
        Agreement
        shall be governed by and construed in accordance with the laws of the State
        of
        Delaware, without reference to principles of conflict of laws. The captions
        of
        this Agreement are not part of the provisions hereof and shall have no force
        or
        effect. This Agreement may not be amended or modified otherwise than by a
        written agreement executed by the Parties hereto or their respective successors
        and legal representatives. The invalidity or unenforceability of any provision
        of this Agreement shall not affect the validity or enforceability of any
        other
        provision of this Agreement. Any invalid or unenforceable provision shall
        be
        modified so as to be rendered valid and enforceable in a manner consistent
        with
        the intent of the Parties insofar as possible. 

      

      A
        failure of Executive or the Company to insist upon strict compliance with
        any
        provision of this Agreement or the failure to assert any right Executive
        or the
        Company may have hereunder shall not be deemed to be a waiver of such provision
        or right or any other provision or right of this Agreement. 

      

      From
        and after the
        Effective Date, this Agreement shall supersede any employment, severance,
        change
        of control or other agreement, whether oral or written,

      
        
           

        

        
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      between
        the Parties
        with respect to the subject matter hereof (other than arrangements effected
        under compensation plans generally applicable to other senior executive officers
        of the Company). 

      

      This
        Agreement may
        be executed in several counterparts, each of which shall be deemed to be
        an
        original but all of which together will constitute one and the same instrument.
        

              

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      IN
        WITNESS WHEREOF, the Parties have executed this Agreement effective as of
        the
        day and year first above written. 

      

      

      
        	
                INTERNAP
                  NETWORK SERVICES CORPORATION

              	
                JAMES
                  ERIC KLINKER

              
	 	 
	
                By
                  /s/ David
                  H. King

              	
                /s/
                  Eric
                  Klinker

              
	 	 
	
                David
                  H.
                  King

              	 
	
                Vice
                  President Human Resources

              	 

      

      
 

       

       

       

       

      8Stock Rights Award Agreement

 EXHIBIT 10(b) 
 REGENCY CENTERS CORPORATION 
 STOCK RIGHTS AWARD AGREEMENT 
 1993 LONG-TERM OMNIBUS PLAN, AS AMENDED 
 THIS
AGREEMENT, dated as of the 30th day of September, 2002 (the “Grant Date”), by and between «First_Name» «Last_Name» (the “Employee”) and Regency Centers Corporation (the “Company”). 
 WITNESSETH THAT: 
 WHEREAS, the
Company maintains the Regency Realty Corporation 1993 Long-Term Omnibus Plan, as amended (the “Plan”), which is incorporated into and forms a part of this Agreement, for the benefit of employees of the Company and its affiliates; and

 WHEREAS, the Company’s Compensation Committee (the “Committee”) has awarded the Employee a Stock Rights Award under the
Plan; 
 NOW, THEREFORE, IT IS AGREED, by and between the Company and the Employee as follows: 
  

	1.	Award. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted the right to receive «RS_Shares» shares of the Company’s common
stock (the “Shares”) upon satisfaction of the conditions described herein. 

  

	2.	Vesting. 

  

	 	(a)	Subject to the terms hereof, the Shares shall vest as follows: 

  

	 	(i)	one-third of such Shares will vest on January 1, 2003; 

  

	 	(ii)	an additional one-third of such Shares will vest on January 1, 2004; and 

  

	 	(iii)	an additional one-third of such Shares will vest on January 1, 2005. 

  

	 	(b)	Except as otherwise provided in this Agreement, any other agreement, or by the Committee, the Employee’s right to receive any Shares that are not vested on the date the
Employee terminates employment with the Company shall be forfeited on such date. 

  

	 	(c)	 During the period between the Grant Date of the Shares and the date such Shares vest, dividends that would have been paid with respect to the Shares had such Shares
been issued and outstanding (“Stock Rights DEs”) will be held by the Company, or a depository appointed by the Committee, for the Employee’s account. Such Stock Rights DE amounts shall be deemed invested in shares of Company common
stock on each December 31 prior to the date of vesting, which shall, until the Shares to which they relate vest, be treated as Shares for purposes of the preceding sentence. Subject to Section 3(b), all Stock Rights DEs so held 

	 	 
shall initially be subject to forfeiture, but shall become non-forfeitable and shall be distributed at the same times, and in the same proportion, as the
Shares to which they relate become vested. 

  

	 	(d)	If the Employee’s employment with the Company terminates by reason of death, Disability or Retirement, or if the Company terminates the Employee’s employment for a reason
other than Cause on or after a Change of Control, any non-vested Shares and related Stock Rights DEs shall vest immediately on such date. 

  

	3.	Issuance of Shares. 

  

	 	(a)	Subject to Section 3(b) below, as soon as practicable after any Shares and related Stock Rights DEs vest, the Company shall issue to the Employee in the form of whole shares of
Company common stock, a number of shares equal to the number of vested Shares, plus the number of shares with respect to which Stock Rights DEs were deemed invested pursuant to Section 2(c). Any fractional Shares or Stock Rights DEs shall be
settled in cash. 

  

	 	(b)	Notwithstanding the foregoing, if the Employee is eligible to participate in and has made an effective election under the Amended and Restated Regency Centers Deferred Compensation
Plan, or any successor plan thereto (the “Deferred Compensation Plan”) to defer receipt of any of the Shares and Stock Rights DEs (including any fractional Shares or Stock Rights DEs) that otherwise would be issued or paid to the Employee
pursuant to the terms hereof, then the issuance of such deferred Shares and related Stock Rights DEs (and the cash payment of any fractional Shares or Stock Rights DEs) to the Employee shall be deferred until the date so elected by the Employee. If
such a deferral is made, the Employee’s rights to any amounts that are deferred shall be governed exclusively by the terms and conditions of the Deferred Compensation Plan and any agreements entered into thereunder. 

  

	4.	Withholding. All awards and payments under this Agreement are subject to withholding of all applicable taxes. At the election of the Employee, and with the consent of and
subject to any requirements imposed by the Committee, the (a) the minimum tax withholding required by applicable law may be satisfied through the surrender of Shares the Employee already owns or to which the Employee is otherwise entitled
hereunder, and (b) any additional withholding taxes due may be satisfied through the surrender of Shares the Employee has owned for at least six (6) months. 

  

	5.	No Rights as a Stockholder. Nothing in this Agreement shall be construed to give the Employee any rights as a stockholder of the Company prior to the vesting of any Shares
and issuance of stock certificates with respect thereto. The Employee has no rights to vote or receive dividends on unvested Shares; provided, however, that the Employee shall be entitled to receive the dividend benefits provided hereunder. Unvested
Shares will not be issued to the Employee and will not be deemed to be outstanding. 

  

 2 

	6.	Transferability. This award is not transferable except as designated by the Employee by will or by the laws of descent and distribution. 

  

	7.	Adjustment of Award. The number and type of Shares under this award are subject to adjustment pursuant to Section 4.3 of the Plan. 

  

	8.	Forfeiture Provisions. If the Employee violates any confidentiality or non-competition provisions to which the Employee is subject, this award and any rights to receive
Shares hereunder shall be forfeited. 

  

	9.	Definitions. Capitalized terms used herein that are not defined below shall have the meaning given under the Plan. 

  

	 	(a)	“Board” means the Board of Directors of the Company. 

  

	 	(b)	“Cause” means 

  

	 	(i)	the willful and substantial failure or refusal of the Employee to perform duties assigned to the Employee (unless the Employee shall be ill or disabled), under circumstances where
the Employee would not have Good Reason to terminate employment, which failure or refusal is not remedied by the Employee within 30 days after written notice from the Company’s Chief Executive Officer or Chief Operating Officer or the Board of
such failure or refusal (for purposes of clarity, the Employee’s poor performance shall not constitute willful and substantial failure or refusal to perform duties assigned to the Employee, but the failure to report to work shall);

  

	 	(ii)	material breach of the Employee’s fiduciary duties to the Company or an affiliate thereof (such as obtaining secret profits from such entity) or a violation by the Employee in
the course of performing the Employee’s duties to the Company or any affiliate thereof of any law, rule or regulation (other than traffic violations or other minor offenses) where such violation has resulted or is likely to result in material
harm to the Company or an affiliate thereof, and in either case where such breach or violation constituted an act or omission performed or made willfully, in bad faith and without a reasonable belief that such act or omission was within the scope of
the Employee’s employment; or 

  

	 	(iii)	the Employee’s engaging in illegal conduct (other than traffic violations or other minor offenses) which results in a conviction (or a nolo contendere plea thereto) which is
not subject to further appeal and which is injurious to the business or public image of the Company or any affiliate thereof. 

  

	 	(c)	“Change of Control” means the occurrence of any one or more of the following events occurring after the date of this Agreement: 

  

 3 

	 	(i)	an acquisition, in any one transaction or series of transactions, after which any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act), has beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25% or more (or an acquisition of an additional 5% or more if such individual, entity or group already has beneficial ownership of 25%
or more) of either the then outstanding shares of Company common stock or the combined voting power of the then outstanding voting securities of the Company, but excluding, for this purpose, any such acquisition (A) from the Company,
(B) by the Company or any employee benefit plan (or related trust) of the Company, (C) by any Security Capital Entity (other than GE) made while the standstill provisions of the Shareholders Agreement are in effect and made in compliance
with such provisions, but excluding an acquisition made in connection with the waiver of any such standstill provisions, or (D) by any corporation with respect to which, following such acquisition, all of the then outstanding shares of common
stock and voting securities of such corporation are then beneficially owned, directly or indirectly, in substantially the same proportions, by the beneficial owners of the common stock and voting securities of the Company immediately prior to such
acquisition; 

  

	 	(ii)	50% or more of the members of the Board (A) are not Continuing Directors, or (B) whether or not they are Continuing Directors, are nominated by or elected by the same
Beneficial Owner (for this purpose, a director of the Company shall be deemed to be nominated or elected, respectively, by the Security Capital Entities or GE if the director also is an employee or director of GE, Security Capital Group, Inc., or
any other subsidiary of GE, including any successors) or are elected or appointed in connection with an acquisition by the Company (whether through purchase, merger or otherwise) of all or substantially all of the operating assets or capital stock
of another entity; or 

  

	 	    	the (A) consummation of a reorganization, merger, share exchange, consolidation or similar transaction, in each case, with respect to which the individuals and entities who
were the respective beneficial owners of the common stock and voting securities of the Company immediately prior to such transaction do not, following such transaction, beneficially own, directly or indirectly, more than 50% of, respectively, the
then outstanding shares of common stock and voting securities of the corporation resulting from such reorganization, merger or consolidation, (B) consummation of the sale or other disposition of all or substantially all of the assets of the
Company or (C) approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  

	 	(d)	“Continuing Director” means: 

  

	 	(i)	 any member of the Board who was a member of the Board on January 1, 2002, and any successor of a Continuing Director who is recommended to 

  

 4 

	 	 
succeed a Continuing Director (or whose election or nomination for election is approved) by at least a majority of the Continuing Directors then on the
Board; and 

  

	 	(ii)	any individual who becomes a director pursuant to Article 2 of the Stockholders Agreement. 

  

	 	(e)	“Disability” means a disability that entitles (or would entitle if a participant) the Employee to long-term disability benefits under the Company’s disability plan or
policy or, if no such plan or policy is in place, if the Employee has been unable to substantially perform his duties, due to physical or mental incapacity, for 180 consecutive days. 

  

	 	(f)	“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  

	 	(g)	“GE” means General Electric Company, including any successors. 

  

	 	(h)	“Good Reason” means any one or more of the following events (unless consented to in writing by the Employee): 

  

	 	(i)	a material diminution or adverse change in the nature of the Employee’s title, position, reporting relationships, authority, duties or responsibilities;

  

	 	(ii)	a diminution that is more than de minimis in either the Employee’s annual base salary or total compensation opportunity (which, for this purpose, means the aggregate of
the annual base salary, annual bonus and long-term incentive compensation that the Employee has an opportunity to earn pursuant to awards made in any one calendar year) or in the formula used to determine the Employee’s annual bonus or
long-term incentive compensation, or a material diminution in the Employee’s overall employee and fringe benefits (it being understood by the parties that if the Employee has the same total compensation opportunity or compensation formula, but
the compensation actually received by the Employee is diminished due to the Company’s or the Employee’s performance, such diminution shall not constitute Good Reason); 

  

	 	(iii)	the Employee’s principle place of business is relocated to a location that is both more than 50 miles from its current location and further from the Employee’s residence
than the location of the Employee’s principle place of business prior to the relocation; 

  

	 	(iv)	a successor fails to assume this Agreement, or amends or modifies this Agreement; 

  

	 	(v)	a material breach of this Agreement by the Company or a successor thereto; 

  

 5 

	 	(vi)	the occurrence of any event or circumstance constituting “Good Reason,” as defined in any Change of Control Agreement between the Employee and the Company; or

  

	 	(vii)	if, and only if, the Employee has been employed on a full-time basis for at least one full calendar year, both of the following conditions are met: (A) the Employee travels at
least 50 days during a calendar year, and (B) the total number of days the Employee travels in such calendar year exceeds by 25 days or more the average number of days the Employee traveled per year on Company business during the two calendar
years immediately preceding such calendar year or, if the Employee has not been employed on a full-time basis for two full calendar years, during the one calendar year immediately preceding such calendar year. 

 For purposes of subsection 1(h)(vii) above, any day in which the Employee is required to stay overnight shall constitute a day of travel. 
 No event described above shall constitute Good Reason unless the Employee has given written notice to the Company specifying the event relied upon for
such termination within six months after the Employee becomes aware, or reasonably should have become aware, of the occurrence of such event and, if the event can be remedied, the Company has not remedied such within 30 days of receipt of the
notice. 
  

	 	(i)	“Retirement” means the Employee’s voluntary termination of employment after (i) attaining age 65, (ii) attaining age 55 with 10 years of service, or
(iii) attaining an age which, when added to the Employee’s years of service, equals at least 75. 

  

	 	(j)	“Security Capital Entities” means Security Capital Holdings S.A. and Security Capital U.S. Realty and any Affiliates of either who are bound by the Stockholders Agreement.

  

	 	(k)	“Stockholders Agreement” means the Stockholders Agreement dated July 10, 1996, as amended, among the Security Capital Entities and the Company and includes any
successor stockholders agreement between the Company and GE or any GE subsidiary (or any successor thereto). 

  

	10.	Administration. The Committee shall have the authority to administer and interpret this Agreement, and the Committee shall have all the powers with respect to this Agreement
as it has with respect to the Plan. Any interpretation of the Agreement by the Committee and any decision made by it with respect to the Agreement is final and binding on all persons. 

  

	11.	Plan Governs. The terms of this Agreement shall be subject to the terms of the Plan, a copy of which may be obtained by the Employee from the Company’s Vice
President-People Services. 

  

 6 

	12.	Dispute Resolution. Any dispute, controversy or claim between the Company and the Employee or other person arising out of or relating to this Agreement shall be settled by
arbitration conducted in the City of Jacksonville in accordance with the Commercial Rules of the American Arbitration Association then in force and Florida law within 30 days after written notice from one party to the other requesting that the
matter be submitted to arbitration. Arbitration must be initiated by serving or mailing a written notice of the complaint to the other party within one year (365 days) after the day the complaining party first knew or should have known of the events
giving rise to the complaint. Failure to initiate arbitration within this time period will result in waiver of any right to bring arbitration or any other legal action with respect to this Agreement. The arbitration decision or award shall be
binding and final upon the parties. The arbitration award shall be in writing and shall set forth the basis thereof. The existence, contents or results of any arbitration may not be disclosed by a party or arbitrator without the prior written
consent of both parties. The parties hereto shall abide by all awards rendered in such arbitration proceedings, and all such awards may be enforced and executed upon in any court having jurisdiction over the party against whom enforcement of such
award is sought. The Company agrees to reimburse the Employee for all costs and expenses (including, without limitation, reasonable attorneys’ fees, arbitration and court costs and other related costs and expenses) the Employee reasonably
incurs as a result of any dispute or contest regarding this Agreement and the parties’ rights and obligations hereunder if, and when, the Employee prevails on at least one material claim; otherwise, each party shall be responsible for its own
costs and expenses. 

  

	13.	Miscellaneous. This Agreement shall be construed and enforced in accordance with the laws of the State of Florida (exclusive of conflict of law principles). In the event that
any provision of this Agreement shall be invalid, illegal or unenforceable, the remainder shall not be affected thereby. This Agreement shall be binding upon and inure to the benefit of the Employee and Employee’s heirs and personal
representatives and the Company and its successors, assigns and legal representatives. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to expressly assume and agree to perform
under this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. This Agreement may not be terminated, amended, or modified except by a written agreement executed by
the parties hereto or their respective successors and legal representatives. 

  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the day and year first above
written. 
  

			
	REGENCY CENTERS CORPORATION
		
	By:	 	  
		 	 J. Christian Leavitt
 Its: Senior Vice President-Treasurer
  
 “Company”

  

			
	
		
	By:	 	  
		 	 «First_Name» «Last_Name»
 Its: “Employee”

  
  

 8

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