Document:

EX-10.29

 Exhibit 10.29 

(TRANSLATION) 
 [Logo of
Enérgya-VM Generación] 
 ADDENDUM TO AGENCY AGREEMENT 

1. CLIENT DETAILS 
 Name/Company Name: HIDRO
NITRO ESPAÑOLA, S.A. 
 Tax Code (CIF): A-28022796 

Registered office: Paseo de la Castellana 259D, Torre Espacio, Floor 49, 28046 Madrid. 

2. RECITALS 
  

	 	I.	Whereas Enérgya-VM Generación, S.L.U. and the Client signed an Agency Agreement on 30 June 2012. 

  

	 	II.	Whereas the Parties wish to modify the terms contained in the Agency Agreement pursuant to the contents of this Addendum: 

3. MODIFICATION OF THE AGREEMENT 
  

	3.1	The Parties hereby agree to modify Clause 3 of the individual terms and conditions of the Agreement, which shall henceforth read as follows: 

Once the Initial Term of the Agreement (beginning on the Commencement Date and ending on the Agreement Expiry Date set out in the Individual
Terms and Conditions) has elapsed, the Agreement shall be tacitly extended for periods of one year unless either of the Parties gives written notice that it does not wish to extend the Agreement, at least one month in advance of the ordinary expiry
date of the Agreement or any of its extensions. 
 4. OTHER CONDITIONS 
  

	4.1	The Parties hereby agree that the contents of this Addendum shall come into effect from 1 January 2014. The Parties shall remain fully bound by any other clauses that have not been modified by means of this
Addendum. 

  

	4.2	The contents of this Addendum shall be governed by Spanish law. In the event of any disagreement or dispute, the Parties hereby submit to the terms and conditions of the Agreement. 

In witness whereof, both Parties hereby sign this present Addendum in duplicate, to one sole effect, on the dates indicated below. 

					
	For Enérgya-VM Generación, S.L.U.				For the Client (PP)
			
	[illegible signature]				[illegible signature]
			
	María Luisa Huidobro Arreba (Spanish Identity Document 05229360-B)				María Luisa Huidobro Arreba (Spanish Identity Document 05229360-B)
			
	General Manager, Attorney, pursuant to a deed of Power of Attorney executed on 2 April 2013 in the presence of Madrid Notary Public Martín Maria Recarte Casanova, deed reference number 587.				Attorney, pursuant to a deed of Power of Attorney executed on 23 May 2013 in the presence of Madrid Notary Public Martín Recarte Casanova, deed reference number 938.
			
	Date: 20 December 2013				Date: 20 December 2013

 (TRANSLATION) 

REPRESENTATION AGREEMENT 
 General Terms

  

	1.	OBJECT, VALIDITY AND TERMS OF THE AGREEMENT 

  

	1.1	By virtue of this Agreement and throughout its life, the Client designates Enérgya VM Generación (“Enérgya”) to act as its representative which, in turn, hereby accepts and undertakes to
provide to the Client the necessary representation services in order to sell the electricity generated by the facilities described in the Specific Terms, pursuant to the terms and conditions foreseen in the Agreement and other applicable electricity
sector regulations (the “Services”). 

  

	1.2	This Agreement will be effective and binding between the Parties following its execution and will have an Initial Term covering the period between the Commencement and Completion Dates of the Services established in the
Specific Terms. The Commencement Date of the Services will be subject and conditioned to completion of all the necessary administrative steps, to specifically include notification by the Client to the OM and OS that Enérgya will act as its
representative, in the form established in the Specific Terms, and that both the OM and OS have recognised Enérgya for these purposes. If, during the month following signature of the Agreement, for reasons not attributable to Enérgya,
Enérgya has not been recognised in these terms or the Client has not completed all the necessary steps to trade on the organized production market by the Commencement Date of the Services, Enérgya will be entitled to terminate this
Agreement. Once the Initial Term has elapsed, it will be extended only and only if this is foreseen in the Specific Terms. Otherwise, no extension will take place if one of the Parties informs the other in writing and by authentic means of its wish
to not extend the Agreement at least one month before expiration of the Initial Term or any extension thereof. By default, the Agreement will end on the Final Date of the Agreement. 

 

	1.3	In any case, Enérgya will be released from any obligations binding the Client prior to signature of this Agreement. Consequently, if a claim is brought against Enérgya for any obligations prior to
signature of the Agreement, and Enérgya is held liable, the Parties hereby agree that Enérgya will be entitled to charge the Client for any amounts paid for these items. In any case, the Client will hold Enérgya harmless from
any loss and damage. 

  

	1.4	Enérgya will be entitled to propose an amendment of the RS, RC and RB, if any, provided that a subsequent regulatory change has arisen with respect to the terms in force at the signature date of the Agreement,
binding on either Party, significantly affecting the balance of mutual services provided by the Parties by virtue of this Agreement. In such case, Enérgya will forward the proposed amendment to the Client, and the Client may expressly
challenge such amendment by authentic means, within fifteen days following notice of the proposed amendment (provided that the effective date of such regulatory change falls within this term), in which case Enérgya may apply for termination
of the Agreement. If, upon expiration of said fifteen-day term, the Client has not brought any challenge, the proposed amendment will be deemed as accepted. 

  

	1.5	 At the signature date of the Agreement, the Parties hereby declare that this Agreement does not infringe any third party rights, commitments or prior
agreements executed by the Parties. In particular, the Client hereby declares that it is fully entitled to act on behalf of the Owner of the Facilities; the latter will be 

	 	
consequently bound by all the commitments and obligations foreseen in this Agreement. Likewise, the Parties hereby declare that they hold all the necessary rights, permits, authorisations and
licences to execute this Agreement and to develop their respective corporate objects; the Parties have not been declared in bankruptcy, nor is any bankruptcy procedure pending with respect to the same, nor are they in any situation evidencing their
current or imminent insolvency, pursuant to applicable regulations. If any change occurs with respect to the foregoing situation, the Party in a different situation must immediately inform the other Party. 

 

	2.	SUPPLY OF INFORMATION AND PROGRAMMING OF ELECTRICITY SURPLUS ON THE PRODUCTION MARKET 

  

	2.1	The Client undertakes to provide Enérgya with the information it may require in order to fulfil the obligations stemming from this Agreement. Any programmed stop in the Facilities will be notified by the Client
to Enérgya at least one week before the scheduled date, indicating when operation in the Facilities will be reinstated. In the event of other incidents that may arise in the Facilities, which may affect the operating state or electricity
generation in the Facilities, the Client will immediately report them and, in any case, will do so no later than the day following their occurrence. 

  

	2.2	For the purposes of communicating the Generation Timetable Programme for surplus electricity (“PPROD”), the Client will inform Enérgya no later than 9:00 hours on day “D-1” of its PPROD, with
respect to each programmed timetable for the following day “D”. Each PPROD will be notified to Enérgya by the Client through the Enérgya Generators Web (or, otherwise, through an FTP server made available by Enérgya).
If the Client fails to inform Enérgya of its PPROD, Enérgya will consider that the PPROD of each programmed timetable for “D” is zero. In any case, the Client will be responsible for any differences arising with respect to
the PPROD, and Enérgya will be responsible for any differences arising due to not applying the reported PPROD. 

  

	2.3	Enérgya will instrument the sale of electricity generated at the Facilities by making offers on the daily, intra-daily and system adjustment services markets (the “Production Market”), which may be
presented on an aggregate and joint basis with the offers of other facilities it also represents, without the Client being able to demand from Enérgya any individualized sale offers for all or part of its generated electricity. Enérgya
will use its best endeavours to handle any possible changes in PPROD, notified by the Client at least one hour before each trading session begins, establishing the programming timespan for such session. Enérgya is hereby expressly authorised
by the Client to change any nominations and sale and purchase offers made by the Facilities on the Production Market with respect to the PPROD effectively notified by the Client, as long as the technical possibilities of the Facilities so allow.

  

	3.	MEASUREMENT EQUIPMENT 

  

	3.1	 The Client will connect its Facilities to any measurement and remote-measurement equipment (the “Measurement Equipment”) that is necessary
to adequately perform this Agreement. In particular, the Client hereby represents, warrants and undertakes to maintain compliance by the Measurement Equipment of any applicable regulatory provisions. Both Parties hereby agree that the Client will
allow Enérgya to access, by telephone or by other remote means, the Facility measurement meter, providing Enérgya to that effect with the necessary 

	 	
parameters, link addresses, entry passwords, including a telephone number or public IP address, and will provide Enérgya with the necessary software to read and receive the measurements of
electricity generated by the Facilities; in any case, Enérgya will not be liable for any conduct of third parties not attributable to Enérgya. Furthermore, the Client hereby entitles Enérgya to access the OS Primary
Concentrator, on its behalf. 

  

	4.	SETTLEMENTS AND METHOD OF PAYMENT 

  

	4.1	With respect to RC, Enérgya will provide the Client with a report stating the electricity effectively generated by the Facilities and sold on the Production Market during the preceding month in question (the
“Report”). The Report will be forwarded to the Client as soon as Enérgya has said information according to the settlement calendars provided by the OS, OM and distributor or National Energy Commission (CNE). In the event of direct
representation, the Client will directly receive from such OS, OM and distributor or CNE the settlements for electricity sold on the Production Market. For all other indirect representation situations the Client, during five days following closure
of the settlement by the OS, OM and distributor or National Energy Commission (CNE), for the previous month (m), and once Enérgya has received the relevant settlement amounts, will issue an invoice to Enérgya as RC for the month in
question, payable by Enérgya within ten days following receipt. Enérgya will charge the Client for any amounts that may be debited thereto or incurred as OM financing, pursuant to RD 485/2009, of 3 April, including any other
amounts debited to Enérgya and payable by the Client. Said amount will be deducted from the amount payable as RC to the Client. 

  

	4.2	With respect to RS Enérgya, within five days following closure of the settlement for the OS, OM and distributor or National Energy Commission (CNE), applicable to the previous month (m), and once Enérgya
has received the relevant settlement amounts, will provide the Client with an invoice indicating the RS settlement applicable to the previous month (m), plus Value Added Tax and any other applicable duties, which will be payable by the Client within
ten days following the issue date of Enérgya’s invoice. If the Parties disagree as to any settlement items or amounts, the Debtor Party will in each case notify in writing the reasons justifying such difference, before the date it is
obliged to pay the Creditor Party, quantifying the amount charged to each; the Debtor Party will pay any undisputed settlement amount by the deadline foreseen. Upon receipt of the Debtor Party’s writ, the Creditor Party will reply in writing
within a maximum of ten days in relation to such difference, indicating whether or not it agrees with the same. In any case, once the dispute is resolved through negotiations or, otherwise, in court, any amount to be paid or returned, as the case
may be, as a result of such resolution, will accrue default interest. Any amounts due and not paid will be subject to the legal default interest rate published by the Bank of Spain, levied on the amount due and not paid since the date when payment
should have been made and until the effective payment date. This interest will accrue daily and will be settled and payable on the payment date of the outstanding invoice. Furthermore, the Parties hereby agree to settle any financial items derived
from performance of this Agreement, within a maximum of forty-five days following its effective termination. 

  

	5.	CONTRACTUAL TERMINATION 

  

	5.1	The following will constitute events of termination of the Agreement, as well as mutual agreement of the Parties and any other cases foreseen by law: 

 

	i.	A definitive loss by either Party of any licences, permits or administrative authorisations required to exercise its respective activities. 

	ii.	The uninterrupted continuation of an event of force majeure preventing total performance of the Agreement for longer than forty-five days. 

 

	iii.	A breach by either Party of the obligations foreseen in this Agreement if, once ten days have elapsed since the other Party requested that the breach be remedied, such remedy has not taken place. 

 

	iv.	In the event that either Party notifies the other by authentic means of the impossibility of being able to regularly and promptly fulfil its obligations. 

 

	v.	Further to Clause 1.4 of the General Terms, in the event that the Client challenges, expressly and by authentic means, a change in the RS, RC and RB, if any, as foreseen in this Agreement, or applicable regulations
prevent Enérgya from performing the representation services foreseen herein. 

  

	vi.	In the event that: (a) one of the Parties waives payment of its general debt, or a specific type of debt, or announces its wish to do so without having applied for bankruptcy proceedings; or (b) a resolution
is passed to commence the dissolution process of either Party, or (c) an attachment is ordered over all or most of the assets of one of the Parties; or (d) either Party ceases its business. 

 

	vii.	In the event that, as a result of a merger or transfer of all or part of either Party’s assets to another company, the Party’s credit risk is insufficient to cover the commitments foreseen in this Agreement,
or the new resulting company does not undertake each and every one of the obligations of this Agreement. 

  

	viii.	In the event of a breach of the provisions established in Clause 1.5 of the General Terms, Enérgya may apply for termination at any time, and in any case Enérgya will be released from any liability that
may arise as a result of such breach. 

  

	5.2	Termination of this Agreement, for any cause, will not release the Parties from any settlement, invoicing, remuneration, payment and adjustment obligations that remain outstanding at the termination date. Such
obligations will be fulfilled and settled as soon as possible following the contractual termination date and, in any case, no later than one month thereafter; in any case, the settlement intervals applied by the OM, OS and distributor or CNE at the
time will be taken into account. 

  

	5.3	If the Agreement is terminated in advance for a reason other than as foreseen in Clauses 5.1.ii) and/or 5.1.v) above, the Party in breach- consequently causing such early termination- will indemnify the other for any
direct and indirect loss and damage suffered as a result of this termination; the Party Not In Breach will be in charge of objectively calculating such indemnification. 

 

	5.4	In the event of early termination of this Agreement, the Party Not In Breach will be entitled to set off any amounts due as indemnification against any other amounts due by the Party Not In Breach to the Party In
Breach. The Parties hereby agree that the Party In Breach may not demand that the Party Not In Breach pay any amount, until the Party In Breach has effectively paid the entire indemnification referred to in this clause, including any other payment
obligation owed by the Party In Breach to the Party Not In Breach. 

	6.	DATA PROCESSING 

  

	6.1	The Client hereby agrees that Enérgya may use its data, pursuant to applicable regulations, which will be processed and incorporated by Enérgya into the relevant automated files it owns. Any automated data
collection and processing will be directed at ensuring the successful outcome of the contractual relationship established with the Client, as well as Enérgya’s management, administration and provision of the object of the Agreement, and
delivery, by traditional and/or electronic means, of any technical, operating and commercial information on the products and services offered both by Enérgya and its group companies. Furthermore, the Client hereby expressly authorises
Enérgya to fully record, using any technically valid support to that effect, any telematic communications and instructions involving the Client, during the use of any service with Enérgya or other group company. The Client is hereby
acknowledged, and may exercise, its rights of access, cancellation, rectification and challenge by providing written notice to Enérgya. 

  

	7.	MISCELLANEOUS 

  

	7.1	Any relevant communications for contractual purposes exchanged by the Parties will be made in writing and sent by bureaufax, whereas communications made for operating purposes may be made by fax or e-mail, or by any of
the means made available by Enérgya to the Client, as foreseen in Clause 2 of the General Terms. The Parties’ representatives, indicated in the Specific Terms, will be the only persons entitled, for and on behalf of each Party, to issue
and receive any communications, instructions, consultations and/or notification of incidents that may arise during performance of this Agreement; any steps taken by other parties will be totally invalid and ineffective. For the purposes of sending
summons and delivering/receiving notifications or communications, the Parties hereby provide the fax numbers and e-mail addresses indicated in the Specific Terms of this Agreement, for communication purposes. Any change with respect to what is
agreed and consolidated in the Specific and/or General Terms will not be effective, unless it is expressly authorised by the other party and formalized in writing. 

 

	7.2	Neither Party may assign its contractual position under this Agreement to a third party, unless the other Party has provided its prior, express and written consent. Without prejudice to the foregoing the Client hereby
expressly agrees that Enérgya may assign its contractual position under this Agreement to any company of the Villar Mir Group that is likewise duly authorised to act as its representative. 

 

	7.3	If the Client deregisters any of the Facilities from the competent registry, it will duly notify Enérgya one month before the effective deregistration date, at all times following the procedures foreseen for this
purpose by the OM, OS and CNE. 

  

	7.4	The Client hereby authorises Enérgya to provide the Services covered by this Agreement, accordingly empowering it to act before the OM, OS and CNE. In any case, this power of attorney will be terminated in the
event of revocation, upon completion of the Agreement or if it is otherwise rendered null and void for any other cause foreseen in the Agreement or in applicable laws or regulations, or in an administrative or judicial order. Without prejudice to
the foregoing, Enérgya will be specifically entitled to carry out, on behalf of the Client and following the invalidity of the Agreement in the foregoing terms, any steps that may be strictly indispensable to complete the processing of any
settlements or other matters that may remain outstanding as a result of the transactions executed to date. 

	7.5	During the term of the Agreement, the Client may not be bound, in relation to the Facilities, to any entity that is legally entitled to purchase or own the electricity generated by the facilities adhered to the
Agreement, other than Enérgya, through any contractual form. 

  

	7.6	The Parties hereby mutually authorise each other to set off any amounts arising from this Agreement against any other amounts outstanding or due by virtue thereof, or derived from other contractual relations.

  

	7.7	All the information contained in this Agreement and any related thereto or to its performance, as well as its terms and conditions, will be deemed confidential during the term of this Agreement and for two years
thereafter. 

  

	7.8	In the event that the Facilities constitute sources of renewable energy or high-efficiency co-generation sources, as foreseen in Article 3 of Order ITC/1522/2007, the Client undertakes to apply to the National Energy
Commission, before 31 January each year (or any other date established at the time) for the issue of guarantees for the source of electricity generated by the Facilities each year, in accordance with the application procedure established in
current laws at all times, provided that this Agreement remains in full force for the parties. Furthermore, the Client will transfer said source guarantees, assigned to the Facilities, to Enérgya, before 15 March each year (or any other
date that may be established at the time), as foreseen in applicable law. 

  

	7.9	This Agreement will be governed by Spanish law. For the resolution of any matter that may arise in relation to the interpretation or performance of this Agreement, the Parties will submit to the competence of the Courts
and Tribunals of the city of Madrid, expressly waiving any other forum to which they may be entitled. 

  

	7.10	In the event that, as a result of a regulatory change, or change in market rules, occurring after the signature of this Agreement, the settlements of electricity sales need to obligatorily foresee or include any
surcharge, supplement or taxes whatsoever, or these need to be added thereto, the Parties hereby agree that they will be paid by the Party that is obliged under applicable law or, in the absence of specific provisions, the Parties will negotiate who
will bear the same. 

  

	7.11	In the event that any of the provisions of this Agreement is declared null and void by any competent court or authority, it will be deemed as not included and the nullity of such provision will not affect in any way the
other provisions of the Agreement. In such case, the Parties undertake to negotiate in good faith, in accordance with the spirit of the Agreement, in order to provide an alternative wording to the void clause. 

In witness whereof, both parties hereby sign these General Terms, along with the Specific Terms, both of which constitute an integral and inseparable part of
the Agreement, on two copies and for a single purpose, on the dates indicated below. 
 By ENÉRGYA VM GENERACIÓN (By Proxy) 

[Signed] 
 Ms. María Luisa Huidobro Arreba (DNI:
052293600-B) 

 Empowered according to a Public Deed executed by the Notary Public in Madrid, Mr. Antonio Luis Reina
Gutiérrez, under number 6,152 of his official records, dated 4 November 2010. 
 Date: 30 June 2012 

By HIDRO NITRO ESPAÑOLA, S.A. (the CLIENT) (By Proxy) 

[Signed] 
 Mr. José Luis González-Haba
González (DNI: 24.071.407-K) 
 Empowered according to a Public Deed executed by the Notary Public in Madrid, Mr. Martín Recarte
Casanova, under number 322 of his official records, dated 15 February 2011. 
 Date: 30 June 2012 

 ADDENDA TO THE REPRESENTATION AGREEMENT DATED 30 JUNE 2012 

1. CLIENT DETAILS 
  

							
	Identity/Company Name	  	Hidro Nitro Española S.A.	  	CIF	  	A-80420516
	Registered address	  	Paseo de la Castellana no 259-D, planta 49, 28046 Madrid	  	Company registration details	  	Madrid, Tome 2933, Folio 175, Sheet M- 50335

 2. FACILITY DETAILS 
 See
Agreement. 
 3. TYPE OF REPRESENTATION 
 Following the
publication of Royal Decree-Law 2/2013, of 1 February, on urgent measures in the electricity system and financial sector, the Parties have agreed to adjust the sale option as follows: 

 

							
	 	  	 Before the

	 	  	 Market Operator (“OM”)
	  	 System Operator (“OS”)
	  	 Distributor or CNE

	Tariff (Art. 24.1.a) of RD 661/07)	  	Indirect	  	Indirect	  	Direct

 4. CLIENT REMUNERATION (RC) 

RC (€) = LIQOM+LIQOS 
 5. VALIDITY AND EFFECTIVE DATE

 This Addenda will be valid as of its signature date, with retrospective effects pursuant to the provisions established in Royal Decree-Law 2/2013.
Consequently, the Agreement will apply insofar as it is consistent with the provisions of this Addenda. 
 In witness whereof, both parties hereby sign
these Specific Terms, along with the General Terms, both of which are an integral and inseparable part of the Agreement, on two copies and for a single purpose, on the dates indicated below. 

 

					
	By ENÉRGYA VM GENERACIÓN (By Proxy)	 		 	By HIDRO NITRO ESPAÑOLA, S.A. (the CLIENT) (By Proxy)
			
	[Signed]	 		 	[Signed]
			
	Ms. María Luisa Huidobro Arreba (DNI: 052293600-B)	 		 	Mr. José Luis González-Haba González (DNI: 24.071.407-K)
			
	Empowered according to a Public Deed executed by the Notary Public in Madrid, Mr. Antonio Luis Reina Gutiérrez, under number 6,152 of his official records, dated 4 November 2010.	 		 	Empowered according to a Public Deed executed by the Notary Public in Madrid, Mr. Martín Recarte Casanova, under number 322 of his official records, dated 15 February 2011.
			
	Date: 6 February 2013	 		 	Date: 6 February 2013

 (TRANSLATION) 

 
 

 
  

					
	AGENCY AGREEMENT	  		  	Special Terms and Conditions

 1. CUSTOMER DETAILS 
  

							
	Name / Company name	  	Hidro Nitro Española, S.A.	  	CIF	  	A-28022796
	Registered office	  	Paseo de la Castellana 259 D, Torre Espacio planta 49 28046 Madrid	  	Registration details of the company	  	Madrid, Volume 2,933; Folio 175; Sheet M-50335, Entry 400

 2. DATA OF FACILITIES 
  

											
	Facility	  	Ariéstolas	  	El Ciego	  	Arias 1	  	Arias II	  	Barasona
	Holder	  	Hidro Nitro Española, S.A.
	CIF	  	A28022796
	Special Reg. Code	  	RE-000156	  	RE-000157	  	RE-000159	  	RE-000160	  	RE-000158
	RD	  	DT 1” RD 661/2007 (RD 436/2004)
	Group	  	b.4	  	b.4	  	b.4	  	b.4	  	b.5
	Power (kW)	  	6,120	  	3,400	  	6,375	  	6,375	  	22,100

 3. DURATION 
 This
Agreement enters into force on 1 July 2012 and ends on 31 December 2013, but may be extended by mutual agreement between the parties. 
 4.
TYPE OF REPRESENTATION 
  

							
	 	  	 Before the

	 	  	 Market Operator (“OM”)
	  	 System Operator (“OS”)
	  	 CNE (National Energy Commission)

	 Market (art. 24.1.b of RD 661/07)
	  	Direct	  	Indirect	  	Direct

 3.1 Enérgya agrees to deposit and maintain during the term of this Agreement the legally established guarantees before
the OM and OS, if the type of representation is Indirect. In all other cases, this commitment will be fully undertaken by the Customer. 
 3.2 In case of a
change in the type of energy sale option in relation to the situation prior to this Agreement, the Customer agrees to apply for, within the shortest possible time after its signing, to the Directorate General for Energy and Mines Policies, the
modification in the entry in relation with the sale option chosen by the Facilities, and furthermore, to inform both the OM and OS or any entity that may at the time be appropriate, the type of representation held by Enérgya in relation with
the Customer and the authority vested for such purpose. 
 3.3 For the purposes of this Agreement, Direct representation means that the Customer directly
undertakes all relations with OM, OS and CNE (National Energy Commission) for purposes of settlements, guarantees or any other obligation. Meanwhile, Indirect representation implies that Enérgya shall act as representative of the Customer
before OM, OS or CNE, accepting the obligations agreed to in this Agreement. 
 5. REMUNERATION OF REPRESENTATION SERVICES 

4.1 The Parties agree to the following remuneration formula for representation services of all the Facilities under this contract: 

Enérgya shall invoice the Customer monthly, an amount equal to 2% of the monthly income for production (LIQOM + LIQOS + LIQCNE),
provided that the Customer’s Total Income up to such month is less than 8 M€. 
 Enérgya shall invoice the Customer monthly,
an amount equal to 6% of monthly income for production (LIQOM + LIQOS + LIQCNE), provided that the Customer’s Total Income up to such month are greater than 8 M€ and less than 10.5 M€. 

Enérgya shall invoice the Customer monthly, an amount equal to 8% of monthly income for production (LIQOM + LIQOS + LIQCNE), provided
that the Customer’s Total Income up to such month are greater than 10.5 M€ and less than 12 M€. 
 Enérgya shall
invoice the Customer monthly, an amount equal to 10 % of the monthly income for production (LIQOM + LIQOS + LIQCNE), provided that the Customer’s Total Income up to such month is less than 12 M€. 

Where, 
 LIQOM (€): Total
amount of the settlement made by the OM for the Facilities for the energy actually matched in the Production Market. 
 LIQOS (€): Total
amount of the settlement made by the OS for the energy actually exported to the transmission and distribution network by the Facilities. 

LIQCNE (€): Total amount of the settlement made by the CNE (National Energy Commission) in respect of Special Regime Equivalent Premium
for energy actually exported to the transmission network and distribution network by the Facilities. 

  
 ENÉRGYA VM GENERACIÓN,
S.L. (previously CÉNTRICA ENERGÍA GENERACIÓN, S.L.U) CIF B-84070036 with registered address in Madrid, calle Ribera del Loira, No.6, and registered in the Companies Registry of Madrid in Volume 20330, Folio 185, Sheet.M-359488. 

  
 Page 1 of 3 

			
	

		
		
	AGENCY AGREEMENT		Special Terms and Conditions

  

 4.2 The Customer accepts the obligation to report at least two (2) hours before the start of each
Timeline, if an order has been sent thereto to limit its flow or production. 
 4.3 The Customer authorizes Enérgya to carry out, in any case,
charges for the RS through the bank account it holds. 
 5. REMUNERATION OF CUSTOMER (RC) 

RC (€) = LIQOS 
 6. CONTACT DETAILS 

Implementation and operation 
 ENÉRGYA. 24h/7.Ribera del
Loira, 6. 28042 Madrid (Tel.: 91 722 3949/50 / Fax: 91 722 3901/pret@energya.es 
 CUSTOMER. Alonso Zapatero Soria / HIDRONITRO ESPAÑOLA, S.A.
Polígono Industrial Las Paúles s/n 22400 Monzón, Huesca. / Tel.: 974 400050 / Fax: 974 41 187 / azapatero@ferroatlantica.es 

Settlement and invoicing 
 ENÉRGYA. Ignacio Sánchez
/ Ribera del Loira, 6. 28042 Madrid / Tel.: 91 722 39 20 / Fax. 91 722 3901 / liquidaciones@energyavm.es 
 CUSTOMER. Alonso Zapatero Soria /
HIDRONITRO ESPAÑOLA, S.A. Polígono Industrial Las Paúles s/n 22400 Monzón, Huesca. / Tel.: 974 400050 / Fax: 974 41 187 / azapatero@ferroatlantica.es and operacines@vmenergia.es 

7. OTHER TERMS OF THE AGREEMENT 
  

	8.1	By means of this Agreement, the Customer expresses its commitment to endeavour making its best efforts to participate in the complementary services of deviation management and tertiary regulation with the Facilities,
provided it is authorised to do so by the OS and the necessary administrative bodies qualifying the Facilities as manageable. Consequently, the Customer authorizes Enérgya, by signing this agreement, to undertake on its behalf all the
necessary steps before the OS or other bodies as appropriate, aimed at enabling the Facilities to provide the previously cited services. 

  

	8.2	Amendment to the clauses 2.2 and 2.3 of the General Terms and Conditions, which shall read as follows: 

2.2 In order for Enérgya to perform its functions, the Customer agrees to provide any information Enérgya may require
in order to fulfil the obligations under this Agreement, including, in particular: 
 (i) Before the Contract Start Date and on each
anniversary thereof if extended, the Customer will deliver to Enérgya its production estimate for the Facility, with a monthly breakdown insofar as possible, for the twelve (12) months of the following year, and the operation,
maintenance and unavailability agenda planned for the Facilities. 
 (ii) Notwithstanding the foregoing, prior to D-2 day of the
changing month, the Customer shall notify Enérgya the production target of the Facility within a Timeline (biweekly or weekly), which may be modified throughout the month based on production conditions, and always with a prior notice period
of two (2) before the start of each Timeline. Should the Customer fail to carry out the said notification to Enérgya, the production target will be deemed to be, including the limitations of flow or production, equal to that notified in
the immediately preceding period. 
 (iii) Notwithstanding the foregoing, the Customer must notify Enérgya, no later than 9:00
am on “D-1” day of its EREF win relation to each of the hourly scheduling periods of the next “D” day. The EREF shall be communicated to Enérgya by the Customer through the Generators Web of Enérgya (or failing
that, via e-mail or recorded conversation). If the Customer does not communicate any EREF to Enérgya, Enérgya will consider that the EREF for each hourly scheduled period for “D” day will be the EEREF of the day before.
Enérgya will not be able to bid above the maximum or below the minimum power scheduled by the Customer in any of the segments of the markets referred to in this Agreement. 

(iv) The Parties agree that Enérgya shall only be required to nominate a change of production hourly schedule in the immediate
aftermath intraday market (EREFEXTRA) provided that this change on the EREF, being subsequently reported after the close of the daily market session, results from abnormal and unforeseen circumstances in production. 

2.3 Enérgya will perform whatever actions it deems necessary or desirable to complete under optimal market conditions, on behalf of
the Customer, the sale in the Production Market of electric energy produced in the Facility subject to the provisions of the Agreement and current legislation, always working to achieve the maximum benefit for the Customer. 

Enérgya shall orchestrate the sale of the electricity produced by the Facilities through the formulation of bids in the daily,
intraday, complementary services and system-setting services markets (the “Production Market”). It may do so in an aggregate and joint form, with offers of other Facilities, which it also represents, without the Customer being able to
require individualized formulation of Enérgya sales offers for all or part of its electricity production. Enérgya shall enjoy full autonomy in the provision of the contracted Service, being it expressly authorized by the Customer to
change the nominations and bids for the purchase and sale of the Facilities in the Production Market regarding the EREF effectively communicated by the Customer. 

Enérgya will communicate to the Customer any changes made to the EREF before the market in which they are to be negotiated via email
or through the control centre. The Customer accepts all financial liability, which may arise from the settlement of the RS and RC due to failure to follow up the changes in its production schedule informed by Enérgya in accordance with the
preceding paragraph. 

  
 ENÉRGYA VM GENERACIÓN,
S.L. (previously CÉNTRICA ENERGÍA GENERACIÓN, S.L.U) CIF B-84070036 with registered address in Madrid, calle Ribera del Loira, No.6, and registered in the Companies Registry of Madrid in Volume 20330, Folio 185, Sheet.M-359488. 

  
 Page 2 of 3 

			
	

		
		
	AGENCY AGREEMENT		Special Terms and Conditions

  

	8.4	The Parties agree to amend clause 4, which shall read as follows: 

 4.1 Regarding the RC, for
cases of direct representation, the Customer will receive directly from such OS, OM and distributor or CNE, the payments for energy sold in the Production Market. For the other cases of indirect representation, the Customer shall, within five days
from the completion of the settlement of the OS, OM and distributor or National Energy Commission (CNE), for the previous month (m) and following receipt by Enérgya of the corresponding amounts for such settlements, forward an invoice to
Enérgya for RC in respect of such month, which shall be payable by Enérgya within ten days from receipt thereof. Enérgya shall pass on to the Customer the amounts, if any, that are charged for financing the OM, according to RD
485/2009, of 3 April and other amounts that are charged to Enérgya and that should be paid by the Customer. This amount will be deducted from the amount of RC to be satisfied by the Customer. 

4.2 Enérgya will forward, before the issuance of the RS invoice, a report on the settlements made by the OM and OS, which shall
include the amount of the settlement of the electricity produced by the Facility and sold in the Production Market during the five (5) previous timelines (hereinafter, the “Report”). In the event that these five (5) timelines
exceed in total more than thirty-five (35) days, Enérgya will be required to submit a report with the settlement on the energy produced in the previous month. 

In consideration of the RS, Enérgya within 5 days from the issuance of the report mentioned in the previous paragraph and provided
that the closing of the settlement of the OS, OM and corresponding National Energy Commission (CNE) has occurred in accordance with the affected timelines, and that Enérgya has received the corresponding amounts for such settlements, the
Customer will be given an invoice with the RS settlement corresponding to the 5 timelines mentioned above. This invoice will additionally include Value Added Tax and any other taxes applicable, if any, and shall be payable by the Customer within ten
days from the date of issue by Enérgya of the invoice in question. 
 4.3 In case of disagreement between the Parties on the
items or amounts of any settlement, the Debtor shall notify in writing in each case the reasons for such discrepancy before the date on which it was required to pay to the Creditor, quantifying the impact of each of them and the Debtor must pay on
time the part that is not under dispute. Having received the letter from the Debtor, the Creditor shall reply in writing within a period of ten days in connection with the discrepancy, indicating compliance therewith or not. In any case, the dispute
being resolved, by way of negotiation, or otherwise, by legal means, default interests will be applied to any amount to be paid or returned, where appropriate, because of that decision. The statutory rate of default interest published by the Bank of
Spain on amounts due and unpaid will be applied to all amounts due and unpaid, from the date on which the payment should have been made until the effective date of payment. Such interest shall accrue daily, shall be settled, and must be paid on the
date on which the payment of the unpaid invoice is made. Moreover, the Parties agree to settle all economic concepts derived from the execution of this contract within a maximum period of forty-five days from the effective termination thereof.

  

	8.5	The Parties agree to amend clause 8.3 of the General Terms and Conditions, which shall read as follows: 

5.3 In the event of Early Termination of the Contract for any reason other than those provided in clause 5.1. ii), and / or 5.1.v) above,
the Defaulting Party and therefore causing the early termination shall indemnify the other party for all direct and indirect damages and losses incurred as a result of the resolution, the non-defaulting party being liable for the objective
determination of such compensation. By way of criminal clause, and additionally to the previously established, the non-defaulting party shall be entitled to claim from the defaulting party the equivalent of a compensation corresponding to the
average daily IA of the non-defaulting party in the period between the effective dates of ordinary termination of the Contract, multiplied by the number of days between those dates. 

 

	8.5	The parties expressly acknowledge the ability to repay sums due and owed to each other and to other companies belonging to their business groups. The parties expressly acknowledge the ability to repay sums due and owed
to each other and with other companies belonging to their business groups. Particularly, in relation to Enérgya, the group companies referred to above shall be limited to, Enérgya VM Gestión de Energía S.L.U. and
Enérgya VM Energías Especiales S.L.U. 

 In addition, in proof of compliance with the above, both parties sign these Special
Conditions, along with the General Terms, Conditions, being both terms and conditions inseparable, and integral parts of the Agreement. They sign a duplicate copy and for one single purpose on the dates indicated below. 

  

			
			By ENÉRGYA (PP)
		
			Ms Maria Luisa Huidobro Arreba (National ID (DNI) No.: 05229360-B)
		
			Attorney-in-fact by Public Deed executed by the Notary of Madrid,
			Mr Antonio Luis Reina Gutiérrez, with protocol number 6152 of
			04 November 2010
			Date
		
			By THE CUSTOMER (PP)
		
			Mr Jose Luis González-Haba González (National ID (DNI) No.: 24.071.407-K)
		
			Attorney-in-fact by Public Deed executed by the Notary of Madrid,
			Mr Martin María Recarte Casanova, with protocol number 2735 of
			24 November 2008
			Date

  
 ENÉRGYA VM GENERACIÓN,
S.L. (previously CÉNTRICA ENERGÍA GENERACIÓN, S.L.U) CIF B-84070036 with registered address in Madrid, calle Ribera del Loira, No.6, and registered in the Companies Registry of Madrid in Volume 20330, Folio 185, Sheet.M-359488. 

  
 Page 3 of 3EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT 

This Amended and Restated Executive Employment Agreement (this “Agreement”), dated as of June 19, 2015 (the
“Effective Date”), is entered into by and among InvenTrust Properties Corp. (formerly Inland American Real Estate Trust, Inc.) (the “Company”) and Thomas P. McGuinness (“Executive”). This Agreement
amends and restates in its entirety the Prior Agreement (as defined below) effective as of the Effective Date. 
 RECITALS: 

WHEREAS, the Company and Executive previously entered into that certain Executive Employment Agreement, dated July 1, 2014 (the
“Prior Agreement”); and 
 WHEREAS, the Company and Executive wish to amend and restate the Prior Agreement to
provide for the continued employment of Executive as the President and Chief Executive Officer of the Company on the terms and conditions set forth herein, effective as of the Effective Date. 

NOW, THEREFORE, in consideration of the covenants herein contained and the employment of Executive and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Position. The
Company will employ Executive as its President and Chief Executive Officer. The principal location of Executive’s employment shall be at the Company’s principal executive office located in Oak Brook, Illinois, although Executive
understands and agrees that Executive will be required to travel from time to time for business reasons. Executive agrees to devote Executive’s full working time and attention to the Company and to act at all times in the best interests of the
Company. Executive will have such duties, responsibilities and authority as are consistent with Executive’s position. Executive shall report to the Board of Directors of the Company (the “Board”). Executive agrees to perform
Executive’s duties and responsibilities to the Company faithfully, competently, diligently and to the best of Executive’s ability, and subject to, and in accordance with, all of the policies, rules and regulations from time to time
applicable to employees of the Company. Executive further agrees to execute any additional documents as the Company may from time to time reasonably request Executive and other similarly situated executives to sign regarding such policies, rules and
regulations of the Company, provided that any such additional documents shall not be inconsistent with the terms of this Agreement. However, Executive may devote reasonable time to supervision of Executive’s personal investments, charitable
activities, speaking or teaching engagements, and membership on other boards of directors, provided that such activities do not interfere or conflict in any material way with Executive’s duties and responsibilities or the business of the
Company, and provided further that, Executive may not serve on the board of directors of any for-profit company without the Board’s written consent. The time involved in such activities shall not be treated as vacation time. Executive shall be
entitled to keep any amounts paid to Executive in connection with such activities (e.g., director fees and honoraria). 

 2. Compensation and Benefits. 

(a) Base Salary. During the “Term” (as defined in Section 3 below), the Company will pay to Executive a base
salary at a rate of $700,000 per annum, which may be reviewed and increased (but not decreased) from time to time in the normal course of business (such annual salary, as in effect from time to time, to be referred to herein as “Base
Salary”). Executive’s Base Salary will be payable in accordance with the Company’s normal payroll practices. 
 (b)
Annual Performance Bonus. For the period from January 1, 2015 through December 31, 2015 and during each subsequent twelve (12)-month period while Executive remains employed with the Company (each, a “Performance
Period”), Executive will be eligible to receive an annual performance bonus award payable in cash in an amount determined by the Compensation Committee (the “Compensation Committee”) of the Board based upon the achievement
of performance criteria established and approved by the Compensation Committee with respect to such twelve (12)-month period (the “Annual Bonus”). The bonus program to be established by the Compensation Committee or the Board will
include threshold, target and maximum levels. Executive will be eligible to receive an annual target bonus no less than one hundred twenty-five percent (125%) of Executive’s Base Salary (“Target Bonus”) with threshold and
maximum bonus levels to be determined on an annual basis by the Compensation Committee in good faith, with the actual bonus that becomes payable to be based on the actual achievement of the applicable performance criteria as determined by the
Compensation Committee. In the event of a Change in Control or a Qualified Event during a Performance Period, Executive will be eligible to receive an Annual Bonus equal to the target Annual Bonus for the year in which such Change in Control or
Qualified Event occurs, pro-rated for the portion of the Performance Period that elapsed prior to the occurrence of such Change in Control or Qualified Event. Any Annual Bonus shall be paid to Executive in a lump sum as soon as reasonably
practicable, but in no event later than March 15, following the end of the applicable fiscal year. 
 (c) Employee
Benefits. Executive is also eligible for the benefit plans and employment policies offered by the Company to other senior level executives under the same terms and conditions offered to senior level executives, subject to and on a basis
consistent with the terms, conditions, and overall administration of such benefit plans. During the Term, Executive will accrue vacation with pay at an annual accrual rate consistent with the Company’s policy in effect from time to time. 

(d) Reservation of Rights. Notwithstanding the foregoing, the Company may change, amend, or discontinue any employee benefit
plans and policies at any time in its sole discretion. 
 (e) Business Expenses. The Company shall reimburse Executive for
reasonable business expenses incurred by Executive on Company business, pursuant to the Company’s standard expense reimbursement policy as in effect from time to time. 

3. Term; Termination of Employment. The term of this Agreement (the “Term”) begins on the Effective Date and
will end, along with Executive’s employment with the Company, on the earliest to occur of the following events. 

  
 2 

 (a) Notice by Executive. Executive can terminate Executive’s employment and
the Term with Good Reason in accordance with the notice requirement under the definition of Good Reason under Section 11(e) of this Agreement or without Good Reason by providing sixty (60) calendar days advance written notice to the
Company of such intent, with the last day of Executive’s employment being the end of such 60-day notice period. The Company can elect, in its sole discretion, to have Executive continue to provide services to the Company during some, all or
none of such notice period and can elect, in its sole discretion, whether such services will be performed on or off Company premises. 
 (b)
Notice by the Company without Cause. The Company can terminate Executive’s employment and the Term without Cause by providing sixty (60) calendar days’ advance written notice to Executive of such intent, with the last
day of Executive’s employment being the end of such 60-day notice period. At the Company’s option, it may place Executive on a paid leave of absence for all or part of such notice period. 

(c) Termination For Cause. The Company can terminate Executive’s employment and the Term immediately upon notice to
Executive if such termination of employment is for Cause. 
 (d) Other Reasons. Executive’s employment and the Term will
be terminated upon Executive’s death or Executive becoming Disabled. 
 (e) Certain Payments. Upon Executive’s termination
of employment for any reason, the Company will pay to Executive (a) Executive’s earned but unpaid Base Salary through the effective date of the termination and (b) any other amounts due to Executive from the Company or any of its
Affiliates thereof as of the effective date of the termination, such as approved, unreimbursed business expenses and accrued and unused vacation. Executive’s participation in and payouts under employee benefit plans of the Company will be
governed by the terms of those plans then in effect. 
 4. Severance. 

(a) Termination Without Cause or Resignation for Good Reason other than within 24 months Following a Change in Control. If
Executive’s employment is terminated by the Company without Cause, and such termination is not on the date of, or during the twenty-four (24)-month period following, a Change in Control or a Sale of the Retail Business, or if Executive resigns
for Good Reason, and such termination is not on the date of, or during the twenty-four (24)-month period following, a Change in Control, then, subject to Section 5 and Section 8, Executive will receive a payment in an amount equal to two
(2) times the sum of (i) Executive’s Base Salary and (ii) Executive’s Target Bonus for the year in which termination occurs. Such amounts will be payable over a period of twelve (12) months in equal installments in
accordance with the Company’s normal payroll practices, commencing within sixty (60) calendar days following Executive’s separation from service. 

(b) Termination Without Cause or Resignation for Good Reason Following a Change in Control. If Executive’s employment is
terminated by the Company without Cause, and such termination is on the date of, or during the twenty-four- (24-) month period following, a Change in Control or a Sale of the Retail Business, or if Executive resigns for

  
 3 

 
Good Reason, and such termination is one the date of, or during the twenty-four- (24-) month period following, a Change in Control, then, subject to Section 5 and Section 8, Executive
will receive a lump sum payment equal to three (3) times the sum of (i) Executive’s Base Salary and (ii) Executive’s Target Bonus for the year in which termination occurs. Such lump sum amounts will be payable within sixty
(60) calendar days following Executive’s separation from service. 
 (c) Benefit Continuation. If Executive is
entitled to severance payments under either Section 4(a) or 4(b) hereof, the Company shall, at the Company’s expense, for the period ending on the earliest of (A) 18 months following the termination of Executive’s employment with
the Company, or (B) the date Executive becomes eligible to be covered under any other group health plan (as an employee or otherwise) that does not contain any exclusion or limitation with respect to any preexisting condition which would
actually limit Executive’s coverage under such plan (the “Benefit Continuation Period”), provide medical insurance benefit coverage in coordination with the provisions of the Consolidated Omnibus Budget Reconciliation Act of
1985 (“COBRA”) by paying directly or reimbursing Executive for the applicable coverage premiums, provided that (i) Executive completes and timely files all necessary COBRA election documentation, which will be sent to Executive
after the last day of employment and (ii) Executive continues to make all required premium payments required by COBRA. In the event such premium payments or reimbursements by the Company, by reason of change in the applicable law, may, in the
reasonable view of the Company, result in tax or other penalties on the Company, this provision shall terminate and Executive and the Company shall, in good faith, negotiate for a substitute provision that would not result in such tax or other
penalties. 
 (d) Except as provided in Sections 4(c) and 8, the Company’s obligation to make payments and provide benefits under this
Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against Executive or others. In no event shall Executive
be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not Executive obtains other
employment. 
 5. Conditions to Receiving Severance. The receipt of any severance or other benefits pursuant to Section 4
will be subject to Executive signing, returning to the Company and not revoking, a general release agreement, in a form of agreement generally used by the Company for such purposes, releasing the Company and its Affiliates from any and all claims
Executive may have arising out of Executive’s employment, or termination thereof (the “Release Agreement”) and such Release Agreement becoming effective no later than fifty-five (55) calendar days following
Executive’s termination of employment; provided, however, that in the event such fifty-five (55) calendar day period straddles two taxable years, the payments described in Section 4 shall not commence until the later of the two
taxable years; and provided further that the general release agreement and any accompanying separation agreement shall have no greater obligations or more limiting post-employment restrictions than are expressly set forth in this Agreement. 

6. Executive Covenants. Executive acknowledges that the covenants contained in Section 6 of this Agreement survive the
termination of the Term and that the consideration noted in Section 2, as well as Executive’s employment, is sufficient compensation for such covenants. For purposes of this Section 6, “Company” means the Company and its
subsidiaries, parent companies and affiliated companies. 

  
 4 

 (a) Nondisclosure of Confidential Information. “Confidential
Information” means data and information relating to the business of the Company, which is disclosed to or created by Executive, or of which Executive becomes aware as a consequence of Executive’s relationship with the Company, that has
value to the Company and is not generally known to competitors of the Company. Subject to the foregoing, Confidential Information includes, but is not limited to, business development, marketing and sales programs, customer, potential customer and
supplier/vendor information, customer lists, employee information, marketing strategies, Company financial results, information related to mergers and acquisitions, pricing information, personnel information, financial data, regulatory approval
strategies, investigative records, research, marketing strategy, testing methodologies and results, computer programs, programs and protocols, and related items used by the Company in its business, whether contained in written form, computerized
records, models, prototypes or any other format, and any and all information obtained in writing, orally or visually during visits to offices of the Company. Confidential Information shall not include any information that (A) is or becomes
generally available to the public other than as a result of an unauthorized disclosure, (B) has been independently developed and disclosed by others without violating this Agreement, or (C) otherwise enters the public domain through lawful
means. Executive acknowledges that Executive will continue to receive and develop Confidential Information of the Company as a necessary part of Executive’s job. Executive agrees that while employed by the Company, Executive will continue to
benefit and add to the Company goodwill with its clients and in the marketplace generally. Executive further agrees that the loss of such clients will cause the Company significant and irreparable harm and that the restrictions on Executive’s
use of such Confidential Information are reasonable and necessary to protect the Company’s legitimate business interests in its Confidential Information. Accordingly, Executive will not at any time during Executive’s employment by the
Company, and for so long thereafter as the pertinent information or documentation constitutes Confidential Information as defined above, use or disclose to others any Confidential Information, except as specifically authorized in a signed writing by
the Company or in the performance of work assigned to Executive by the Company. The covenants made by Executive herein are in addition to, and not exclusive of, any and all other rights to which the Company is entitled under federal and state law,
including, but not limited to, rights provided under copyright and trade secret laws, and laws concerning fiduciary duties. Executive hereby agrees not to disclose, copy, or remove from the premises of the Company any documents, records, tapes or
other media or format that contain or may contain Confidential Information, except as required by the nature of Executive’s duties for the Company. Nothing set forth in this Section 6(a) shall be interpreted to prohibit Executive from
making truthful statements when required by law, subpoena or court order and/or from responding, to the extent legally required, to any inquiry by any government organization; provided that, if Executive is required by law or a court or
administrative order to disclose any such Confidential Information, Executive shall promptly notify the Company of such requirement and provide the Company with a copy of any court or administrative order or of any law which in Executive’s
opinion requires such disclosure and, if the Company so elects, permit the Company an adequate opportunity, at its own expense, to contest such law or court order. 

  
 5 

 (b) Return of Company Property. Promptly following the end of the Term, or at any
time at the request of the Company, Executive will return to the Company all Confidential Information, physical property of the Company and any information relating to the clients or customers of the Company that Executive may possess or have under
Executive’s control, together with all copies thereof, including but not limited to company hardware, records, memoranda, notes, plans, reports, computer tapes, software and other documents and data containing confidential information.
Notwithstanding the foregoing, Executive may retain Executive’s rolodex and similar electronic phone directories (collectively, the “Rolodex”) to the extent the Rolodex does not contain information other than name, address, telephone
number and similar information, provided that, at the request of the Company, Executive shall provide the Company with a copy of the Rolodex 

(c) Noncompetition. Except on behalf of the Company, Executive acknowledges and agrees that during the Term and for twelve
(12) months following the termination of Executive’s employment for any reason or no reason, Executive will not directly or indirectly engage in or associate with (including, without limitation, engagement or association as a sole
proprietor, owner, employer, director, partner, principal, investor, joint venturer, shareholder, associate, employee, member, consultant, contractor or otherwise), any person or entity that (i) owns properties having an aggregate appraised
value of at least $500 million and (ii) is directly or indirectly actively engaged in the “Business” (each, a “Competing Business”), provided that Executive may own or manage, or participate in the ownership or
management of, any entity that Executive owned or managed, or participated in the ownership or management of, prior to the Effective Date, which ownership, management or participation has been disclosed in writing to the Company on or prior to the
Effective Date; and provided, further, that Executive may own, directly or indirectly, up to one percent (1%) of any class of “publicly traded securities” of any entity that is a Competing Business. For the purposes of this
Section 6(c), “publicly traded securities” shall mean securities that are traded on a national securities exchange, and “Business” shall mean the acquisition, ownership, development, improvement, operation, management,
leasing or sale of community centers, grocery-anchored centers, strip centers and/or power centers (each within the meaning of the International Council of Shopping Centers U.S. Shopping-Center Classification and Characteristics table or similar
reputable real estate glossary or glossaries determined by the Compensation Committee in good faith). 
 (d) Employee and Independent
Contractor Nonsolicitation and Noninterference. During the Term and for 3 years following the termination of Executive’s employment for any reason or no reason by either the Company or Executive, Executive will not, directly or
indirectly (i) recruit, hire, retain or attempt to recruit, hire or retain, any then-current employee or independent contractor of the Company or any former employee who was employed by the Company within the prior six (6) months, for
employment or engagement with an entity other than the Company, or (ii) entice or attempt to persuade the Company’s then-current employee or independent contractor to leave employment or engagement with the Company; provided, that it shall
not be a violation of this Section 6(d) if following Executive’s employment with the Company, Executive is employed by another entity who hires a non-executive employee without Executive’s input, assistance or knowledge. 

(e) Nondisparagement. Executive shall not make, and the Company shall instruct each member of the Board and each executive
officer of the Company not to make, 

  
 6 

 
or cause to be made, during the Term and at all times thereafter, any statement or communicate any information (whether oral or written) that disparages the Company or Executive, respectively,
including, with respect to Executive’s obligations, the Company’s subsidiaries or parent companies or any of their respective officers, directors, board members, investors, shareholders, agents or employees. Nothing set forth in this
Section 6(e) shall be interpreted to prohibit Executive, the Board or any executive officer of the Company from making truthful statements (i) when required by law, subpoena or court order and/or from responding, to the extent legally
required, to any inquiry by any government organization, or (ii) in direct rebuttal to a statement made in violation of this Section 6(e). 

(f) Reasonableness. Executive acknowledges that the provisions contained in this Section 6 are reasonable and necessary to
protect the Company’s interests in its good will, business relationships, and confidential information and that the Company will suffer substantial harm if Executive engages in any of the prohibited activities. Executive warrants that no
provision of this Section 6 will work to prevent Executive from earning a living. 
 (g) Enforcement. It is the desire and
intent of the parties hereto that the provisions of Section 6 of this Agreement be construed independently of one another to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is
sought. Each restriction contained in this Section 6 is intended to be severable, and the unenforceability of any such provision shall not affect the enforceability of any other provision of Section 6. The Company shall be entitled to all
rights and remedies as set forth in this Section 6 until the expiration of the covenants contained herein in accordance with their terms. The parties agree and acknowledge that damages will be difficult, if not impossible, to calculate in the
event of a breach, or threatened breach, of any of the provisions of this Section 6 and, in any event, damages will be an insufficient remedy in the event of such breach. Accordingly, the parties agree that the Company shall, in addition to all
other remedies, be entitled to injunctive relief in the event of any breach of the provisions of this Section 6. 
 7. Parachute
Payment Limitations. Notwithstanding anything to the contrary contained herein (or any other agreement entered into by and between Executive and the Company or any incentive arrangement or plan offered by the Company), in the event that any
amount or benefit paid or distributed to Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid to Executive by the Company (collectively, the “Covered Payments”), would constitute an
“excess parachute payment” as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and would thereby subject Executive to an excise tax under Section 4999 of the Code (an
“Excise Tax”), the provisions of this Section 7 shall apply. If the aggregate present value (as determined for purposes of Section 280G of the Code) of the Covered Payments exceeds the amount which can be paid to Executive
without Executive incurring an Excise Tax, then, solely to the extent that Executive would be better off on an after tax basis by receiving the maximum amount which may be paid hereunder without Executive becoming subject to the Excise Tax, the
amounts payable to Executive under this Agreement (or any other agreement by and between Executive and the Company or pursuant to any incentive arrangement or plan offered by the Company) shall be reduced (but not below zero) to the maximum amount
which may be paid hereunder without Executive becoming subject to the Excise Tax (such reduced payments to be referred to as the “Payment Cap”). The determination of whether Covered Payments would result in the

  
 7 

 
application of the Excise Tax, and the amount of reduction that is necessary so that no such Excise Tax would be applied, shall be made, at the Company’s expense, by the independent
accounting firm employed by the Company immediately prior to the occurrence of the Change in Control. In the event Executive receives reduced payments and benefits as a result of application of this Section 7, Executive shall have the right to
designate which of the payments and benefits otherwise set forth herein (or any other agreement between the Company and Executive or any incentive arrangement or plan offered by the Company) shall be received in connection with the application of
the Payment Cap, subject to the following sentence. Reduction shall first be made from payments and benefits which are determined not to be nonqualified deferred compensation for purposes of Section 409A of the Code, and then shall be made (to
the extent necessary) out of payments and benefits that are subject to Section 409A of the Code and that are due at the latest future date. 

8. Recoupment. Notwithstanding any other provision of this Agreement to the contrary, Executive acknowledges that Executive will
be subject to recoupment policies adopted by the Company, including any policy adopted pursuant to the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act or other law or the listing requirements of any national securities
exchange on which the Shares of the Company may be listed. 
 9. Tax Withholding. Executive shall be liable for all income
taxes incurred with respect to all benefits provided under this Agreement. All payments required to be made to Executive under this Agreement shall be subject to withholding of amounts relating to income tax, excise tax, employment tax and other
payroll taxes to the extent the Company determines is required to be withheld pursuant to applicable law or regulation. 
 10.
Section 409A of the Internal Revenue Code. It is the intent of the parties that payments and benefits under this Agreement comply with, or be exempt from, Section 409A of the Code and, accordingly, to the maximum extent
permitted, this Agreement shall be interpreted and administered consistent with such intent. With respect to expenses eligible for reimbursement under the terms of this Agreement: (i) the amount of such expenses eligible for reimbursement
in any taxable year shall not affect the expenses eligible for reimbursement in another taxable year; and (ii) any reimbursements of such expenses shall be made no later than the end of the calendar year following the calendar year in which the
related expenses were incurred, except, in each case, to the extent that the right to reimbursement does not provide for a “deferral of compensation” within the meaning of Section 409A of the Code. In addition, Executive’s right
to reimbursement (or in-kind benefits) cannot be liquidated or exchanged for any other benefit or payment. Notwithstanding anything contained herein to the contrary, to the extent required to avoid accelerated taxation or tax penalties under
Section 409A of the Code, Executive shall not be considered to have terminated employment for purposes of this Agreement and no payments shall be due to Executive under this Agreement that are payable upon Executive’s termination of
employment until Executive would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A of the Code. In addition, for purposes of this Agreement, each amount to be paid or
benefit to be provided to Executive pursuant to this Agreement shall be construed as a separate identified payment for purposes of Section 409A of the Code and any payments described herein that are due within the “short term deferral
period” as defined in Section 409A of the Code shall not be 

  
 8 

 
treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything contained herein to the contrary, if Executive is a “specified employee,” as defined
in Section 409A of the Code, as of the date of Executive’s separation from service, then to the extent any amount payable under this Agreement (i) constitutes the payment of nonqualified deferred compensation, within the meaning of
Section 409A of the Code, (ii) is payable upon Executive’s separation from service and (iii) under the terms of this Agreement would be payable prior to the six-month anniversary of Executive’s separation from service, such
payment shall be delayed until the earlier to occur of (A) the six-month anniversary of the separation from service or (B) the date of Executive’s death. 

11. Definitions. For the purposes of this Agreement, the following terms shall be defined as set forth below: 

(a) “Affiliate” means any domestic or foreign individual, partnership, corporation, limited liability company, association,
joint stock company, trust, joint venture, unincorporated organization or governmental entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the Company. 

(b) “Cause” means any of the following: 

(i) the willful fraud or material dishonesty of Executive in connection with the performance of Executive’s duties to the Company; 

(ii) the deliberate or intentional failure by Executive to substantially perform Executive’s duties to the Company (other than
Executive’s failure resulting from Executive’s incapacity due to physical or mental illness or any such actual or anticipated failure after Executive’s issuance of a Notice of Termination for Good Reason) after a written notice is
delivered to Executive by the Board, which demand specifically identifies the manner in which the Board believes Executive has not substantially performed Executive’s duties; 

(iii) willful misconduct by Executive that is materially detrimental to the reputation, goodwill or business operations of the Company or any
Affiliate; 
 (iv) willful disclosure of the Company’s Confidential Information or trade secrets; 

(v) a breach of Section 6(a), (b), (c) or (d) or Section 18 of this Agreement; or 

(vi) the conviction of, or plea of nolo contendere to a charge of commission of, a felony or crime of moral turpitude by Executive. 

For purposes of this Section, no act or failure to act will be considered “willful,” unless it is done or omitted to be done, by Executive in bad
faith or without reasonable belief that Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice
of counsel for the Company will be presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Company. 

  
 9 

 (c) “Change in Control” means the first to occur of any of the events set forth
in the following paragraphs; provided, however, that a Qualified Event shall not constitute a Change in Control: 
 (i) any
“person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act, other than the Company or an Affiliate or a Company employee benefit plan, including any trustee of such plan acting as trustee, is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s then outstanding
securities entitled to vote generally in the election of directors; 
 (ii) a merger, reverse merger or other business combination or
consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation other than an Affiliate, other than a merger or consolidation which would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities
of the Company or such surviving entity outstanding immediately after such merger, reverse merger, business combination or consolidation; 

(iii) a majority of the members of the Board is replaced during any twelve (12)-month period by directors whose appointment or election is not
endorsed by a majority of the Board prior to the date of the appointment or election; 
 (iv) a sale or disposition (other than to an
Affiliate) of all or substantially all of the Company’s assets in any single transaction or series of related transactions; or 
 (v)
the shareholders of the Company or the Board adopts a plan of liquidation. 
 Notwithstanding the foregoing, if a Change in Control constitutes a payment
event with respect to an amount that provides for a the deferral of compensation that is subject to Section 409A of the Code, then, to the extent required to avoid the imposition of additional taxes under Section 409A of the Code, the
transaction or event described in subsection (i), (ii), (iii), (iv) or (v) above shall only constitute a Change in Control if such transaction also constitutes a “change in control event” (within the meaning of Section 409A
of the Code). 
 (d) “Disabled” has the same meaning as provided in the long-term disability plan or policy maintained by
the Company. If no such disability plan or policy is maintained by the Company, Disabled means Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment, which can be
expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months. If Executive disputes the Company’s determination of Disability, Executive (or Executive’s designated physician) and
the Company (or its designated physician) shall jointly appoint a third party physician to examine Executive and determine whether Executive is Disabled. 

  
 10 

 (e) “Good Reason” means, without Executive’s written consent, (i) a
material diminution of Executive’s annual Base Salary, target Annual Bonus, target annual equity-based compensation opportunity, or other annual incentive compensation opportunities, in each case, as in effect on the Effective Date and as may
be increased from time to time; (ii) a material reduction in Executive’s authority, duties or responsibilities; (iii) a requirement that Executive report to anyone other than the Board; (iv) Executive being required to relocate
Executive’s principal place of employment with the Company more than fifty (50) miles from Executive’s principal place of employment as of the Effective Date, it being understood that Executive may be required to travel frequently in
connection with Executive’s position as set forth herein and that prolonged periods away from Executive’s principal residence shall not constitute Good Reason; or (v) failure of any successor to the Company following a Change in
Control to assume this Agreement and the obligations hereunder. A termination of employment by Executive shall not be deemed to be for Good Reason unless (A) Executive gives the Company written notice describing the event or events which are
the basis for such termination within sixty (60) calendar days after the event or events occur, (B) such grounds for termination (if susceptible to correction) are not corrected by the Company within thirty (30) calendar days of the
Company’s receipt of such notice (“Correction Period”), and (C) Executive terminates Executive’s employment no later than thirty (30) calendar days following the Correction Period. 

(f) “Qualified Event” means any of the following: (i) a straight listing of the Shares on the New York Stock Exchange,
NASDAQ or on any other nationally recognized stock exchange; (ii) an underwritten public offering of the Shares pursuant to an effective registration statement under the Securities Act of 1933, as amended from time to time, which the Shares are
approved for listing or quotation on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange; or (iii) a reverse merger of the Company into an existing publicly held company or its acquisition subsidiary,
resulting in the Shares first becoming listed on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange. 

(g) “Retail Business” means the retail business segment of the Company as defined in the Company’s public filings. 

(h) “Sale of the Retail Business” means a sale or disposition (other than to an Affiliate) of all or substantially all of the
assets of the Retail Business in any single transaction or series of related transactions. 
 (i) “Shares” means shares of
the common stock of the Company and any successor security or interest. 
 12. Indemnification and Insurance. From the
Effective Date through at least the sixth anniversary of Executive’s termination of employment from the Company, Executive shall be entitled to indemnification by the Company to the fullest extent permitted by the Company’s Charter,
bylaws, or equivalent organizational documents on the date hereof; provided, however, that the Company shall not be required to pay any amounts under any such indemnification policy except upon receipt of an unsecured undertaking by Executive to
repay any such amounts as are ultimately determined by a final judgment of a court of competent jurisdiction that Executive is not entitled to indemnification by the Company. Executive also will be covered under a directors and officers insurance
policy maintained by the Company on 

  
 11 

 
terms no less favorable than those provided to any other officer or director. In the event of a sale of all or substantially all of the assets of the Company, the Company will purchase a tail
insurance policy with the same scope, limits, and exclusions as the directors and officers insurance policy in effect before such sale, except that such tail policy shall be non-cancellable, with a six-year term, no deductibles, and subject to
non-imputation, and the Company will escrow an amount sufficient to cover any retention amounts that may be known, as well as the amount for claims and circumstances known to the Company before such sale. The Company’s obligations under this
Section will survive the termination or expiration of this Agreement and any termination of Executive’s employment with the Company for any reason, subject to the terms of the applicable policy as may be in effect at the Company. 

13. Successors and Assigns. This Agreement and all rights hereunder are personal to Executive and shall not be assignable by
Executive; provided, however, that any amounts that shall have become payable under this Agreement prior to Executive’s death shall inure to the benefit of Executive’s heirs or other legal representatives, as the case may be. This
Agreement shall be binding upon and inure to the benefit of the Company’s successors, including any entity that succeeds to the business and interests of the Company whether by merger, consolidation, purchase of assets or otherwise, of all or
substantially all of the Company’s assets and business. In the event that Executive dies, any monies that are due and owing to Executive under this Agreement as of the date of Executive’s death shall be paid to Executive’s surviving
spouse, if any, or to Executive’s estate. 
 14. Blue-Penciling; Severability. In the event that any provision of this
Agreement is determined to be partially or wholly invalid, illegal, unenforceable, or unreasonable or excessive as to duration, geographic scope, or activity, then such provision shall be modified or restricted to the extent necessary to make such
provision valid, binding and enforceable. Any provision that is modified shall be construed by limiting and reducing it to the maximum time, geographic or scope limitations, as the case may be, so as to be reasonable and enforceable to the extent
compatible with the applicable law. If such provision cannot be modified or restricted, then such provision shall be deemed to be excised from this Agreement, provided that the binding effect and enforceability of the remaining provisions of this
Agreement shall not be affected or impaired in any manner. 
 15. Amendment. This Agreement may not be amended orally; it may
only be amended in a writing signed by Executive and a duly authorized representative of the Company. 
 16. Notices. Any
notices to be given under this Agreement may be made by personal delivery, e-mail, or recognized overnight courier. Notice by personal delivery or courier will be deemed made on the date of actual receipt. 

Notice to the Company shall be addressed to: 

Scott Wilton 
 Executive Vice
President, General Counsel and Secretary, InvenTrust Properties Corp. 
 2809 Butterfield Road 

Oak Brook, IL 60523 

  
 12 

 With a copy to: 

Latham & Watkins LLP 

355 S. Grand Avenue 
 Los Angeles,
CA 90071 
 Attention: David Taub 

Notice to Executive shall be addressed to Executive at the home address most recently provided to the Company. 

17. Governing Law. This Agreement shall be governed by and enforceable in accordance with the laws of the State of Maryland as
applicable to contracts executed and performed within such state, without regard to the application of any choice-of-law rules that would result in the application of another state’s laws. 

18. Arbitration.  

(a) The Company and Executive mutually consent to the resolution by final and binding arbitration of any and all disputes, controversies or
claims related in any way to Executive’s relationship with the Company and its parents and affiliates, including, but not limited to, any dispute, controversy or claim of alleged discrimination, harassment or retaliation (including, but not
limited to, claims based on race, sex, sexual preference, religion, national origin, age, marital or family status, medical condition, handicap or disability); any dispute, controversy or claim arising out of or relating to this Agreement or the
breach of this Agreement; and any dispute as to the arbitrability of a matter under this Agreement (collectively, “Claims”); provided, however, that nothing in this Agreement shall require arbitration of any Claims which, by law,
cannot be the subject of a compulsory arbitration agreement. 
 (b) All Claims shall be resolved exclusively by arbitration administered by
JAMS under its Employment Arbitration Rules and Procedures then in effect (the “JAMS Rules”). Notwithstanding the foregoing, the Company and Executive shall have the right to (i) seek a restraining order or other injunctive or
equitable relief or order in aid of arbitration or to compel arbitration, from a court of competent jurisdiction, or (ii) interim injunctive or equitable relief from the arbitrator pursuant to the JAMS Rules, in each case to prevent any
violation of this Agreement. The Company and Executive must notify the other party in writing of a request to arbitrate any Claims within the same statute of limitations period applicable to such Claims. 

(c) Any arbitration proceeding brought under this Agreement shall be conducted before one arbitrator in DuPage County, Illinois, or such other
location to which the parties mutually agree. The arbitrator shall be selected in accordance with the JAMS Rules, provided that the arbitrator shall be an attorney with significant experience in employment matters. Each party to any dispute shall
pay its own expenses, including attorneys’ fees; provided, however, that the Company shall pay all costs and fees that Executive would not otherwise have been subject to paying if the claim had been resolved in a court of law and, to the extent
required by applicable law for this arbitration provision to be enforceable, the Company shall reimburse Executive for any reasonable travel expenses incurred by Executive in connection with Executive’s travel to Illinois for any arbitration
proceedings. The arbitrator will 

  
 13 

 
be empowered to award either party any remedy at law or in equity that the party would otherwise have been entitled to had the matter been litigated in court, including, but not limited to,
general, special and punitive damages, injunctive relief, costs and attorney fees; provided, however, that the authority to award any remedy is subject to whatever limitations, if any, exist in the applicable law on such remedies. The arbitrator
shall issue a decision or award in writing stating the essential findings of fact and conclusions of law, and the arbitrators shall be required to follow the laws of the State of Maryland consistent with Section 17 of this Agreement. 

(d) Any judgment on or enforcement of any award, including an award providing for interim or permanent injunctive relief, rendered by the
arbitrator may be entered, enforced or appealed in any court having jurisdiction thereof. Any arbitration proceedings, decision or award rendered hereunder, and the validity, effect and interpretation of this arbitration provision, shall be governed
by the Federal Arbitration Act, 9 U.S.C. § 1 et seq. 
 (e) It is part of the essence of this Agreement that any Claims hereunder shall
be resolved expeditiously and as confidentially as possible. Accordingly, the Company and Executive agree that all proceedings in any arbitration shall be conducted under seal and kept strictly confidential. In that regard, no party shall use,
disclose or permit the disclosure of any information, evidence or documents produced by any other party in the arbitration proceedings or about the existence, contents or results of the proceedings except as necessary and appropriate for the
preparation and conduct of the arbitration proceedings, or as may be required by any legal process, or as required in an action in aid of arbitration or for enforcement of or appeal from an arbitral award. Before making any disclosure permitted by
the preceding sentence, the party intending to make such disclosure shall give the other party reasonable written notice of the intended disclosure and afford such other party a reasonable opportunity to protect its interests. 

19. Captions and Headings. Captions and paragraph headings are for convenience only, are not a part of this Agreement, and shall
not be used to construe any provision of this Agreement. 
 20. Counterparts. This Agreement may be executed in counterparts,
each of which shall constitute an original, but both of which when taken together shall constitute one Agreement. Signatures may be exchanged by facsimile or email. 

21. Survival. The respective obligations of, and benefits accorded to, the Company and Executive as provided in
Section 2(b), 3(e), 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 18 of this Agreement shall survive the expiration or earlier termination of this Agreement. Without limiting the foregoing, Executive acknowledges and agrees that Executive’s
obligations under Section 6 of this Agreement shall survive the cessation of Executive’s employment with the Company for whatever reason. 

22. Entire Agreement. This Agreement sets forth the entire agreement between the Company (or any of its affiliates) and Executive
with respect to its subject matter, and merges and supersedes all prior discussions, negotiations, representations, proposals, agreements and understandings of every kind and nature between the Company (or any of its affiliates) and Executive,
including the Prior Agreement. Executive and the Company represent that, in executing this Agreement, each party has not relied upon any representation or statement made by the other party, other than those set forth herein, with regard to the
subject matter, basis or effect of this Agreement. 

  
 14 

 23. Reimbursement for Legal Fees. The Company agrees to reimburse Executive for up
to $15,000 in legal fees incurred by Executive prior to the Effective Date for consultation and advice with respect to this Agreement. 

[Signature page follows] 

  
 15 

 IN WITNESS WHEREOF, the Company and Executive have executed this Agreement on the date first written
above. 
  

							
	 InvenTrust Properties Corp.
				Executive
	   
		/s/ Paula Saban				/s/ Thomas P. McGuinness
	By:		Paula Saban				Thomas P. McGuinness
	Title:		Chair of the Compensation Committee of the Board of				
	Directors

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