Document:

exhibit10-80.htm

     

    EXHIBIT
10.80

      THIS MORTGAGE AND
CHARGE AGREEMENT
(the “Agreement”)
is made on February 23,  2009 by and
among:

       

      
        	
                (1)

              	
                Economic
      Development Board, a statutory board established in the Republic of
      Singapore under the Economic Development Board Act, Chapter 85 of
      Singapore, having its office at 250 North Bridge Road #28-00 Raffles City
      Tower Singapore 179101 (the “Board”);

              

      

       

      AND

       

      
        	
                (2)

              	
                Micron
      Technology, Inc., a company incorporated in Delaware and having its
      office at 8000 S. Federal Way, Boise, Idaho 83716 (Registration
      Number S91UF0404A) (the “Company”);

              

      

       

      
        	
                 
      

              	
                AND

              

      

       

      
        	
                (3)

              	
                TECH Semiconductor
      Singapore Pte.
      Ltd., a company incorporated in Singapore with its registered
      office at 1 Woodlands Industrial Park D Street 1 Singapore 738799 (Company
      Registration Number 199102059C) (the “Subsidiary”).

              

      

       

      (each, a
“Party”
and together, the “Parties”)

       

      WHEREAS:

       

      
        	
                (A)

              	
                As
      at the date of this Agreement, the Company is the legal and beneficial
      owner, free from all charges, liens and other encumbrances, of 449,882,240
      issued and paid up shares in the capital of the
  Subsidiary.

              

      

       

      
        	
                (B)

              	
                By
      the terms of that certain Loan Agreement, dated February 23,
      2009, by between the Board and the Company (the “Loan
      Agreement”), the Company is required to execute this Agreement in
      favour of the Board.

              

      

       

      
        	
                (C)

              	
                The
      Board, the Company and the Subsidiary have carefully considered the
      terms and conditions of this Agreement and in good faith agree to enter
      into this Agreement.

              

      

       

       

      NOW THIS
AGREEMENT WITNESSETH
as follows:

       

      
        	
                1. 

              	
                DEFINITIONS

              

      

       

      
        	
                1.1

              	
                In
      this Agreement, unless the context otherwise requires, the following
      expressions shall have the following
meanings:

              

      

       

      “Entitlement”
means all allotments, accretions, offers, rights, benefits and advantages
whatsoever at any time accruing, offered or arising in respect of the Mortgaged
Securities whether by way of conversion, redemption, bonus, preference, option,
dividend, interest 

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page
1 of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      or
otherwise which the Board may be entitled on the Mortgaged
Securities.

       

      “Event of
Default” and “Events of
Default” means any, each or all (as the context may require) of the
Events of Default described in Clause 15 of the Loan Agreement.

       

      “Indebtedness” means
all present and future principal and interest due, owing or incurred by the
Company to the Board under or in connection with the Loan
Agreement.  Indebtedness shall also include all monetary penalties
incurred under the Loan Agreement until the time that all Indebtedness (as of
the time of repayment) shall be paid in full.  In other words, when
the Indebtedness is paid in full, the mortgage and security created under this
agreement shall be discharged even though the possibility of future penalties
under the Loan Agreement may still exist.

       

      “Mortgaged Securities”
means 408,719,520 issued and paid-up shares in the Subsidiary, representing 66
per cent. of the issued and paid-up shares in the capital of the Subsidiary
and registered in the name of the Company.

       

      
        	
                1.2 

              	
                Any
      reference in this Agreement to:

              

      

       

      
        
          
            
              	
                       

                    	1.2.1	
                      any
      statute, legislation, subsidiary legislation or rules shall be read as
      referring to such statute, legislation, subsidiary legislation or rules as
      amended or re enacted from time to
time;

                    

            

          

        

      

       

      
        
          
            	 	
                    1.2.2 

                  	
                    Recitals
      and Clauses are to recitals to, and clauses of, this
      Agreement;

                  

          

        

      

       

      
        
          
            	 	
                    1.2.3

                  	
                    an
      “encumbrance” includes any mortgage, charge (whether fixed or floating),
      pledge, lien, hypothecation, assignment, security interest or any other
      type of preferential agreement or arrangement having substantially the
      same economic effect (including sale and repurchase agreements, title
      retention or flawed-asset
arrangements);

                  

          

        

      

       

      
        
          
            	 	
                    1.2.4

                  	
                    a
      “person” shall be construed as a reference to any person, firm, company,
      corporation, government, state or agency of a state or any association or
      partnership (whether or not having separate legal personality) or two or
      more of the foregoing;

                  

          

        

      

       

      
        
          
            	 	
                    1.2.5

                  	
                    “tax”
      shall be construed to include any present or future tax, levy, impost,
      duty or other charge, deduction or withholding of a similar nature
      (including, without limitation, any penalty or interest payable in
      connection with any failure to pay or any delay in paying any of the same
      imposed) levied, withheld or assessed by any agency of any
      state;

                  

          

        

      

       

      
        
          
            	 	
                    1.2.6

                  	
                    the
      “winding up”, “dissolution” or “judicial management” of a company, the
      appointment of a receiver and/or manager, liquidator, administrator,
      judicial manager or trustee shall be construed so as to include any
      equivalent or analogous proceedings or appointment under the law of any
      jurisdiction in which such company carries on business;
  and

                  

          

           

        

      

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 2
of 16

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        
          
            	 	
                    1.2.7

                  	
                    the
      Parties shall, unless repugnant to the context and meaning thereof, be
      deemed to include their permitted respective successors and
      assigns.

                  

          

        

      

       

      
        	
                1.3

              	
                The
      headings used in this Agreement are for ease of reference only and shall
      not be taken into account in the construction or interpretation of any
      provision to which they refer.

              

      

       

      
        	
                1.4

              	
                Expressions
      in the singular shall include the plural and vice versa and expressions in
      the masculine shall include, where applicable, the feminine and neuter
      genders and vice versa.

              

      

       

      
        	
                1.5

              	
                All
      terms and references used in this Agreement and which are defined or
      construed in the Loan Agreement but are not defined or construed in this
      Agreement shall have the same meaning and construction in this Agreement.
      All references in this Agreement to the Loan Agreement are references to
      the Loan Agreement as from time to time amended, modified or
      supplemented.

              

      

       

       

      
        	
                2. 

              	
                [RESERVED]

              

      

       

      
        	
                3 

              	
                MORTGAGE
      AND CHARGING CLAUSE

              

      

       

      
        	
                3.1

              	
                In
      consideration of the loan provided to the Company by the Board, the
      Company as legal and beneficial owner hereby charges and mortgages and
      agrees to charge and mortgage to the Board as a continuing security for
      the payment of all Indebtedness by way of FIRST EQUITABLE MORTGAGE and
      CHARGE ALL its rights, title and interest in and to the Mortgaged
      Securities together with all dividends, interests or other distributions
      hereafter paid or payable or made in respect of the same and all
      allotments, accretions, offers, rights, benefits and advantages whatsoever
      at any time accruing, offered or arising in respect of or incidental to
      the same and all stocks, shares, rights, money or property accruing
      thereto or offered at any time by way of conversion, redemption, bonds,
      preference, option, conversion, dividend, warrant or otherwise in respect
      and all proceeds of sale or other realisation of the Mortgaged Securities
      or any part thereof.

              

      

       

      
        	
                3.2

              	
                If
      at any time the whole of the Indebtedness has been paid or discharged in
      full and no sum remains payable to the Board under or in connection with
      the Loan Agreement, the Board shall at the cost of the Company discharge
      the security created herein on the Mortgaged
  Securities.

              

      

       

       

      
        	
                4. 

              	
                NON-EXHAUSTION
      OF REMEDIES

              

      

       

      The Board
shall not be bound to exhaust its remedies against the Company or the Subsidiary
or exhaust its rights under any other securities prior to enforcing its rights
against the Company under this Agreement.

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 3
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                5. 

              	
                CONTINUING
      SECURITY

              

      

       

      
        	
                5.1

              	
                This
      security shall be a continuing security and shall extend to cover all or
      any Indebtedness which shall for the time being be due or owing from the
      Company to the Board upon any account or otherwise as hereinbefore
      mentioned and shall not be considered as satisfied by any intermediate
      payment or satisfaction of less than the whole of the
      Indebtedness.

              

      

       

      
        	
                5.2

              	
                The
      Company hereby agrees and acknowledges that its obligations and
      liabilities hereunder shall be absolute and unconditional and, in addition
      to the other provisions hereof, shall not be abrogated, prejudiced,
      affected or discharged:

              

      

       

      
        
          
            	 	
                    5.2.1

                  	
                    by
      the Subsidiary’s winding up, dissolution or judicial management;
      or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.2

                  	
                    by
      any change in status, control or ownership or any change by amalgamation,
      re-organisation, merger, consolidation, sale or transfer by or involving
      the Company and/or the Subsidiary, or the assets of the Company or the
      Subsidiary, or otherwise which may be made in the constitution of the
      company by which the Company’s business or Subsidiary’s business may from
      time to time be carried on;
or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.3

                  	
                    by
      the Board granting explicitly or by conduct or otherwise, whether directly
      or indirectly, to the Company or any other person of any time,
      forbearance, concession, credit compounding, compromise, waiver,
      variation, renewal, release, discharge or other advantage or indulgence;
      or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.4

                  	
                    by
      the Board failing or neglecting to or deciding not to recover the monies
      hereby owed or any part thereof by the realisation of any collateral or
      other security or in any manner otherwise or, in the event of the
      enforcement by the Board of any collateral or other security or any remedy
      otherwise, by any act, omission, negligence or other conduct or failure on
      the part of the Board or any other person in connection therewith;
      or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.5

                  	
                    by
      any laches, acquiescence, delay, acts, omissions, mistakes on the part of
      the Board or any other person;
or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.6

                  	
                    by
      reason of any agreement, deed, mortgage, charge, debenture, guarantee,
      indemnity or security held or taken at any time by the Board or by reason
      of the same being void, voidable or unenforceable;
  or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.7

                  	
                    by
      any moratorium or other period staying or suspending by statute or the
      order of any court or other authority all or any of the Board’s rights,
      remedies or recourse against the Company or any other person;
      or

                  

          

        

      

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 4
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        
          
            	 	
                    5.2.8

                  	
                    by
      reason of any other dealing, matter or thing which, but for the provisions
      of this Clause 5, could or might operate to affect or discharge all or any
      part of the obligations and liabilities of the Company hereunder;
      or

                  

          

        

      

       

      
        
          
            	 	
                    5.2.9

                  	
                    by
      any failure or defect herein, or in the Loan Agreement or this Agreement
      or in any other agreement entered into by or on behalf of the Company in
      connection with the Loan Agreement or this Agreement nor by any legal
      limitation, or lack of any borrowing or other powers of the Company or
      lack of authority of any person appearing to be acting for the Company in
      any matter in relating to the Loan Agreement or this Agreement by any
      other fact or circumstance (whether known or not to the Company) as a
      result of which all or any part of the obligations thereunder may be
      rendered illegal, void or unenforceable by the
  Board.

                  

          

        

      

       

      
        	
                5.3

              	
                This
      security shall be in addition to, and without prejudice to, any other
      security which the Board may subsequently hold in respect of all such sums
      and liabilities hereby secured. The Board may at any time and without
      reference to the Company give up, deal with, vary, exchange or abstain
      from perfecting or enforcing any other such security at any time and
      discharge any party to it, and realise such security as the Board thinks
      fit, without in any way prejudicing the obligations and liabilities of the
      Company under this Agreement.

              

      

       

       

      
        	
                6. 

              	
                COVENANTS
      BY THE COMPANY

              

      

       

      The
Company hereby covenants with the Board that during the continuance of this
security it will:

       

      
        	
                6.1

              	
                obtain
      all necessary and relevant approvals required to charge and mortgage the
      Mortgaged Securities in favour of the Board, including obtaining the
      waiver from the other shareholders of the Subsidiary with respect to their
      rights on pre-emption and the creation of the encumbrance over the
      Mortgaged Securities pursuant to their shareholders’
      agreement;

              

      

       

      
        	
                6.2

              	
                at
      all times deposit with the Board and permit the Board during the
      continuance of this security to hold and
retain:

              

      

       

      
        	
                 
      

              	
                (a)

              	
                all
      stock and share certificates to or representing the Mortgaged Securities
      in the name of the Company; and

              

      

       

      
        	
                 
      

              	
                (b)

              	
                transfers
      of the Mortgaged Securities executed in
blank,

              

      

       

      such
deposit being to create an equitable mortgage in favour of the Board. For the
avoidance of doubt, nothing in this Clause 6.2 shall require the Company to
transfer or register the Mortgaged Securities in the name of the Board or its
nominees or to convert the security constituted by this Agreement into a legal
mortgage prior to the occurrence of an Event of Default which is
continuing.

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 5
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                6.3

              	
                duly
      and promptly pay all calls, installments, subscription monies or other
      payments which may be made or become due in respect of any of the
      Mortgaged Securities as and when the same shall from time to time become
      due;

              

      

       

      
        	
                6.4

              	
                not
      do or cause or permit to be done anything which may in any way depreciate,
      jeopardise or otherwise prejudice the value of the Mortgaged
      Securities;

              

      

       

      
        	
                6.5

              	
                not
      create or permit to arise or subsist any encumbrance (other than in favour
      of the Board) on or over the Mortgaged Securities or any part
      thereof;

              

      

       

      
        	
                6.6

              	
                not
      sell, transfer or dispose of the Mortgaged Securities or any part thereof
      or interest therein or attempt or agree so to do (other than pursuant to
      or in accordance with the provisions of this
  Agreement);

              

      

       

      
        	
                6.7

              	
                upon
      the occurrence of an Event of Default and which is continuing, promptly
      notify the Board in writing of all Entitlements and shall (if directed by
      the Board) promptly pay over to the Board all Entitlements received by it
      and the Board shall be entitled to apply the same in accordance with
      Clause 9 (Power of Sale and application of
  proceeds).

              

      

       

       

      
        	
                7. 

              	
                REPRESENTATIONS
      AND WARRANTIES

              

      

       

      
        	
                7.1

              	
                The
      Company hereby represents and warrants to and for the benefit of the Board
      as follows:

              

      

       

      
        
          
            	 	
                    7.1.1

                  	
                    that
      the Company is the sole, absolute and beneficial owner of the Mortgaged
      Securities and that the Mortgaged Securities are free from any encumbrance
      (other than the security created
herein);

                  

          

        

      

       

      
        
          
            	 	
                    7.1.2

                  	
                    the
      Mortgaged Securities are fully paid and that there are no monies or
      liabilities outstanding or payable in respect of the Mortgaged Securities
      or any of them;

                  

          

        

      

       

      
        
          
            	 	
                    7.1.3

                  	
                    that
      the Mortgaged Securities are validly issued and are free from any
      restriction on transfer or rights of pre
  emption;

                  

          

        

      

       

      
        
          
            	 	
                    7.1.4

                  	
                    that
      the Company has full power, authority, capacity and the legal right to
      enter into this Agreement and execute all other documents called for under
      this Agreement, to create the security herein and to engage in the
      transactions contemplated by this
Agreement;

                  

          

        

      

       

      
        
          
            	 	
                    7.1.5

                  	
                    that
      this Agreement constitutes legal, valid, binding and enforceable
      obligations on the part of the Company and the security created herein
      over all and every part of the Mortgaged Securities is effective as a
      first priority charge in accordance with its
  terms;

                  

          

        

      

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 6
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        
          
            	 	
                    7.1.6

                  	
                    that
      this Agreement does not and will not conflict with or result in any
      material breach or constitute a default under any agreement, instrument or
      obligations to which the Company is party or by which the Company is
      bound; and

                  

          

        

      

       

      
        
          
            	 	
                    7.1.7

                  	
                    that
      the Company has obtained all the approvals or waivers (as the case may be)
      for the charge of the Mortgaged Securities to the Board and, upon the
      occurrence of an Event of Default that is continuing, for the Board to
      register the Mortgaged Securities in the name of the Board without any
      restrictions.

                  

          

        

      

       

      Each of
the representations and warranties contained above shall survive and continue to
have full force and effect after the execution of this Agreement and the Company
hereby warrants to the Board that the above representations and warranties will
be true and correct and fully observed at all times until the Indebtedness is
fully repaid.

       

      
        	
                7.2

              	
                The
      Subsidiary hereby represents and warrants to and for the benefit of the
      Board as follows:

              

      

       

      
        
          
            	 	
                    7.2,1

                  	
                    that
      the Subsidiary is lawfully incorporated, validly existing and in good
      standing under the laws of
Singapore;

                  

          

        

      

       

      
        
          
            	 	
                    7.2.2

                  	
                    that
      the Subsidiary has the corporate power and authority to carry on the
      business as now being conducted under the laws of
    Singapore;

                  

          

        

      

       

      
        
          
            	 	
                    7.2.3

                  	
                    that
      the Subsidiary has full power, authority, capacity and the legal right to
      enter into this Agreement and to execute all other documents called for
      under this Agreement and to engage in the transactions contemplated by
      this Agreement;

                  

          

        

      

       

      
        
          
            	 	
                    7.2.4

                  	
                    that
      this Agreement does not and will not conflict with or result in any
      material breach or constitute a default under any agreement, instrument or
      obligations to which the Subsidiary is party to or by which the Subsidiary
      is bound;

                  

          

        

      

       

      
        
          
            	 	
                    7.2.5 

                  	
                    that
      the Subsidiary is fully aware of the terms and conditions as well as
      obligations set out in the Loan Agreement. It is also fully aware of the
      purpose of the Term Loan made available by the Board to the Company,
      namely to provide funds to the Subsidiary (by way of Equity Contributions
      to be made by the Company to purchase Fixed Productive
      Assets;

                  

          

        

      

       

      
        
          
            	 	
                    7.2.6 

                  	
                    that
      the Subsidiary has received full payment for the Mortgaged Securities and
      no monies or liabilities are outstanding or payable to the Subsidiary in
      respect of the Mortgaged Securities or any of
  them;

                  

          

        

      

       

      
        
          	 	
                  7.2.7

                	
                  that
      the Mortgaged Securities are validly issued;
and

                

        

      

       

      
        
          
            
              	 	
                      7.2.8

                    	
                      that
      the Subsidiary acknowledges and confirms that it is fully aware that the
      Mortgaged Securities have been or will be mortgaged to the Board. Blank
      transfer forms relating to the Mortgaged Securities have been or will be
      executed by the Company and delivered to the Board with the intention that
      the Board may, upon the occurrence of an Event of Default that is
      continuing, perfect the Mortgaged Securities and/or exercise its right of
      sale by transferring or procuring the transfer of all or any of the
      Mortgaged Securities to third-party
purchasers.

                    

            

             

          

        

      

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 7
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      Each of
the representations and warranties contained above shall survive and continue to
have full force and effect after the execution of this Agreement and the
Subsidiary hereby warrants to the Board that the above representations and
warranties will be true and correct and fully observed at all times until the
Indebtedness is fully repaid.

       

       

      
        	
                8. 

              	
                FURTHER
      RIGHTS OF THE BOARD

              

      

       

      
        	
                8.1

              	
                Subject
      to Clause 8.2 below, the Company shall be entitled to exercise all voting
      and all other rights attaching to the Mortgaged
  Securities.

              

      

       

      
        	
                8.2

              	
                At
      any time after an Event of Default has occurred and which is continuing,
      the Board shall be entitled to exercise or direct the exercise of the
      voting and other rights attached to the Mortgaged Securities as it sees
      fit.

              

      

       

      
        	
                8.3

              	
                Subject
      to Clause 8.4, the Company shall be entitled to retain any dividend
      derived from the Mortgaged
Securities.

              

      

       

      
        	
                8.4

              	
                At
      any time after an Event of Default has occurred and which is continuing,
      the Company shall pay all dividends received by it immediately to the
      Board or as it may direct. The Board shall be entitled to apply the same
      in accordance with Clause 9 (Power of Sale and application of proceeds).
      Pending such payment to the Board, all such dividends shall be held by the
      Company in trust for the Board as security for the
      Indebtedness.

              

      

       

      
        	
                8.5

              	
                The
      powers conferred on the Board by this Agreement are solely to protect its
      interests in the Mortgaged Securities and shall not impose any duty on it
      to exercise any such powers. The Board shall not have any duty as to any
      Mortgaged Securities and shall incur no liability
  for:

              

      

       

      
        
          	 	
                  8.3.1

                	
                  ascertaining
      or taking action in respect of any calls, installments, conversions,
      exchanges, maturities, tenders or other matters in relation to any of the
      Mortgaged Securities or the nature or sufficiency of any payment whether
      or not the Board has or is deemed to have knowledge of such matters;
      or

                

        

      

       

      
        
          	 	
                  8.3.2

                	
                  taking
      any necessary steps to preserve rights against prior parties or any other
      rights pertaining to any Mortgaged
Securities.

                

        

      

       

       

      
        	
                9. 

              	
                POWERS
      OF SALE AND APPLICATION OF PROCEEDS

              

      

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 8
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                9.1

              	
                Without
      prejudice to the Board’s other rights, powers and remedies under the Loan
      Agreement, this Agreement or any other agreement securing the
      Indebtedness, the security consituted by this Agreement shall become
      immediately enforceable and the power of sale and other powers conferred
      by Section 24 of the Conveyancing and Law of Property Act Chapter 61 of
      Singapore as varied and extended by this Agreement shall be immediately
      exercisable upon the occurrence of an Event of Default which is
      continuing. Without prejudice to the generality of the foregoing, the
      Board may on the occurrence of an Event of Default which is continuing
      without notice sell the Mortgaged Securities or any of them in such
      reasonable manner and for such reasonable consideration (whether payable
      immediately or by installments) as the Board may in its reasonable
      discretion deem fit (such discretion to be exercised in good faith), and
      may (without prejudice to any right which it may have under any provision
      of this Agreement) treat such part of the Mortgaged Securities as consists
      of money as if it were the proceeds of such sale or of the
      disposal.

              

      

       

      
        	
                9.2

              	
                The
      Board shall apply the proceeds (without prejudice to the right of the
      Board to recover any shortfall from the Company) in paying the costs of
      sale or disposal and in or towards the discharge of the Indebtedness in
      such order as the Board in its reasonable discretion thinks fit and the
      surplus (if any) of such proceeds shall be paid to the person or persons
      entitled.

              

      

       

      
        	
                9.3

              	
                If
      a deficit shall, after the sale and/or appropriation of the Mortgaged
      Securities, remain owing to the Board, the Company shall pay to the Board
      without demand the amount of such
deficit.

              

      

       

      
        	
                9.4

              	
                Upon
      any sale of the Mortgaged Securities or any of them by the Board, the
      Company shall indemnify the Board and keep the Board fully indemnified
      against any claim or liability which may be made against it and any
      liability, loss, cost or expense which the Board may suffer or incur by
      reason of any defect in the Company’s title to such Mortgaged Securities
      except to the extent caused by the Board’s own negligence or wilful
      default.

              

      

       

       

      
        	
                10. 

              	
                EXERCISE
      OF POWER OF SALE

              

      

       

      Upon any
sale of the Mortgaged Securities or any of them which the Board may make or
purport to make under the provisions of this Agreement, a certificate made by
any of the Board’s officers that the power of sale has become exercisable shall
be prima facie evidence of such
power of sale having become esercisable and, save for any error, be
conclusive evidence of the fact in favour of any purchaser or other person to
whom any of the Mortgaged Securities may be transferred under such sale and the
Company will indemnify the Board and keep the Board indemnified against any
claim or demand made against the Board by such purchaser or person, and any
liability, loss, cost or expense that the Board may suffer or incur, by reason
of any defect in the Company’s title to such Mortgaged Securities, except to the
extent caused by the Board’s own negligence or wilful default.

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 9
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                11. 

              	
                PROTECTION
      OF THIRD PARTIES

              

      

       

      Upon the
occurrence of an Event of Default which is continuing, the Board may give a good
discharge for any monies received in the exercise of such power of sale or
disposal and for any rights, monies or property received or receivable in
respect of the Mortgaged Securities and no purchaser, mortgagee or other person
dealing with the Board shall be concerned to enquire whether the Indebtedness
has become payable or due or whether any power which it is purporting to
exercise has become exercisable or whether any money is due under this Agreement
or as to the application of any money paid, raised or borrowed or as to the
propriety or regularity of any sale by or other dealing with the
Board.

       

       

      
        	
                12. 

              	
                ENFORCEMENT
      OF RIGHTS

              

      

       

      The Board
shall be at liberty, but not bound, to resort for the Board’s own benefit to any
other means of obtaining payment or securing performance at any time and in any
manner or order as the Board may think fit without affecting this security. The
Board may exercise and enforce its rights under this Agreement before resorting
to other means of obtaining payment or securing performance or after such means
have been resorted to in respect of any Indebtness and in the latter case
without entitling the Company to any benefit from such other means so long as
any Indebtedness remains due, owing, payable or outstanding (whether actually or
contingently) from or by the Company to the Board.

       

       

      
        	
                13. 

              	
                [RESERVED]

              

      

       

      
        	
                14. 

              	
                AVOIDANCE
      OF PAYMENT

              

      

       

      No
disposition, assurance, security or payment which may be or may become avoided
under any provision of the Companies Act, Chapter 50 of Singapore or any
statutory modification thereof and no release, settlement or discharge which may
have been given or made on the faith of any such disposition, assurance,
security or payment shall prejudice or affect the Board’s right to recover from
the Company monies to the full extent of this Agreement, the Loan Agreement and
any other agreement in connection with the Indebtedness as if such disposition,
assurance, security, payment, release, settlement or discharge (as the case may
be) had never been made, given or granted.

       

       

      
        	
                15. 

              	
                POWER
      OF CONSOLIDATION AND SALE

              

      

       

      Section
21 (restricting the Board’s rights of consolidation) and Section 25 (restricting
the Board’s right of sale) of the Conveyancing and Law of Property Act Chapter
61 of Singapore and any other similar provision under any other applicable law
shall not apply to the security under this Agreement.

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 10
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                16. 

              	
                EVIDENCE
      OF OUTSTANDING LIABILITIES

              

      

       

      A
certificate signed by a duly authorised officer for the time being of the Board
as to the amount of Indebtedness for the time being due to the Board shall be
prima facie evidence of such
Indebtedness and be
binding on the Company, save for any error.

       

       

      
        	
                17. 

              	
                FURTHER
      ASSURANCE

              

      

       

      The
Company irrevocably authorises the Board to do any and all acts and things which
the Board considers necessary or advisable to, transfer, complete and vest the
full legal title of any of the Mortgaged Securities to or in the Board or its
nominees or any purchaser or other person thereof upon the occurrence of an
Event of Default which is continuing. Without in any way limiting the Board’s
power and authority abovementioned, the Company shall at any time if and when
reasonably required by the Board do such acts or things and execute such
documents as the Board may reasonably consider necessary for giving full effect
to the Agreement.

       

       

      
        	
                18. 

              	
                DISCHARGE
      OF MEMORANDUM

              

      

       

      Notwithstanding
anything herein contained to the contrary, it is understood that if the whole of
the Indebtedness is paid to the Board or otherwise discharged, then the Board
shall, as soon as reasonably practicable after such payment shall have been so
made, and at the Company’s cost, discharge this Agreement.

       

       

      
        	
                19. 

              	
                ASSIGNMENT

              

      

       

      
        
          	 	
                  19.1

                	
                  This
      Agreement shall be binding upon and inure to the benefit of the Company
      and the Board and their respective successors-in-title and assigns. All
      undertakings, agreements, representations and warranties given, made or
      entered into by the Company under this Agreement shall survive the making
      of any assignments hereunder.

                

        

      

       

      
        
          	 	
                  19.2

                	
                  Except
      with the Board’s consent, the Company may not assign or transfer any
      of its rights hereunder and the Company shall remain fully liable for all
      of its undertakings, agreements, duties, liabilities and obligations
      hereunder, and for the due and punctual observance and performance
      thereof.

                

        

      

       

      
        
          	 	
                  19.3

                	
                  The
      Board may only assign or transfer all or any of its rights hereunder to a
      person to whom the Board has assigned or transferred its rights under the
      Loan Agreement.

                

        

      

       

       

      
        	
                20. 

              	
                NOTICES

              

      

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 11
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      All
notices and other communications hereunder shall be in writing and shall be
deemed duly given upon (a) transmitter’s confirmation of a receipt of a
facsimile transmission (if the
time of transmission is after 5 pm Singapore Time (GMT + 8) on a Business Day,
such transmission shall be deemed to be served on the next succeeding Business
Day), (b) confirmed delivery by a standard overnight or recognized
international carrier or when delivered by hand, or (c) delivery in person,
addressed at the following addresses (or at such other address for a party as
shall be specified by like notice):

       

      if
to Company, to:

       

      Micron
Technology, Inc.

      8000
South Federal Way

      Boise,
Idaho 83716-9632

      Fax:  (208)
363-1309

      Attention:  General
Counsel

       

      With a
copy to:

      Micron
Technology, Inc.

      8000
South Federal Way

      Boise,
Idaho 83716-9632

      Fax:  (208)
368-4095

      Attention:
Treasurer

       

      if
to Board, to:

       

      Economic
Development Board

      250 North Bridge
Road

      #28-00 Raffles City
Tower

      Singapore
179101

       

                 Fax:
 +65
6832-6553

       Attention:
 Head, Electronics
Division

       

       

      
        	
                21. 

              	
                WAIVERS

              

      

       

      No
failure on the part of the Board to exercise, and no delay in exercising,
any right under this Agreement shall operate as a waiver thereof, nor will any
single or partial exercise of any right under this Agreement preclude any other
or further exercise thereof or of any other right. The rights and remedies in
this Agreement provided are cumulative and not exclusive of any rights or
remedies provided by law. Any waiver or consent given by the Board under this
Agreement shall be in writing and may be given subject to such conditions as the
Board may impose. Any waiver or consent shall be effective only in the instance
and for the purpose for which it is given.

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 12
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                22. 

              	
                COST
      AND EXPENSES

              

      

       

      
        
          	 	
                  22.1

                	
                  Save
      as otherwise provided below, the Company shall bear all legal and other
      costs and expenses reasonably incurred by the Board in connection with the
      drafting, negotiation and execution of this Agreement and the performance
      of its obligations under this
Agreement.

                

        

      

       

      
        
          	 	
                  22.2 

                	
                  The
      Company shall:

                

        

      

       

      
        	
                 
      

              	
                (a)

              	
                pay
      all stamp and other duties and taxes connected with or arising from the
      security created herein; and

              

      

       

      
        	
                 
      

              	
                (b)

              	
                upon
      the occurrence of an Event of Default which is continuing pay all legal
      fees as between solicitor and client (on a full indemnity basis) or
      otherwise, stamp duty, registration fees and other professional costs and
      disbursements incurred by the Board in order to preserve and/or enforce
      any of the Board’s rights under this
Agreement.

              

      

       

       

      
        	
                23. 

              	
                POWERS
      ADDITIONAL

              

      

       

      The
powers conferred by this Agreement in relation to the Mortgaged Securities or
any part thereof on the Board shall be in addition to and not in substitution
for the powers conferred on mortgagees under law, which shall apply to the
security created by this Agreement except insofar as they are expressly
excluded. Where there is any ambiguity or conflict between the powers conferred
by law and those conferred by this Agreement, then the terms of this Agreement
shall prevail.

       

       

      
        	
                24. 

              	
                SEVERABILITY

              

      

       

      If any
provision in this Agreement shall be, or at any time shall become invalid,
illegal or unenforceable in any respect under any law, such invalidity,
illegality or unenforceability shall not in any way affect or impair the other
provisions of this Agreement but this Agreement shall be construed as if such
invalid or illegal or unenforceable provision did not form a part of this
Agreement.

       

       

      
        	
                25. 

              	
                ENTIRE
      AGREEMENT

              

      

       

      The terms
and conditions contained in this Agreement constitute the entire agreement
between the Parties with respect to the subject matter of this
Agreement.

       

       

      
        	
                26. 

              	
                GOVERNING
      LAW

              

      

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page 13
of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        
          	 	
                  26.1

                	
                  This
      Agreement shall be governed by and construed in all respects in accordance
      with the laws of the Republic of
Singapore.

                

        

      

       

      
        
          	 	
                  26.2

                	
                  The
      Courts of Singapore shall have jurisdiction to resolve any dispute arising
      out of or in connection with this Agreement, including a dispute regarding
      the existence, validity or termination of this
  Agreement.

                

        

      

       

      
        
          	 	
                  26.3

                	
                  The
      Company agrees that service of process on the Company may be effected at
      the Singapore address of the Subsidiary and such service shall be deemed
      to be good and effectual service on the
Company.

                

        

      

       

       

      
        	
                27. 

              	
                CONTRACTS
      (RIGHTS OF THIRD PARTIES) ACT CHAPTER 53B OF
  SINGAPORE

              

      

       

      Any
person who is not a party to this Agreement shall not have any rights under the
Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore to enforce or
enjoy the benefit of any term of this Agreement. For the avoidance of doubt, the
Parties may rescind, vary, waive and release all or any of their respective
rights and obligations under this Agreement without the consent of any person
who is not a Party.

       

       

      
        	
                28. 

              	
                [RESERVED]

              

      

       

       

      
        	
                29.

              	
                COUNTERPARTS

              

      

       

      This
Agreement may be signed in any number of counterparts, all of which taken
together shall constitute one and the same instrument. Any Party may enter into
this Agreement by signing any such counterpart and each counterpart may be
signed and executed by the Parties and transmitted by facsimile transmission and
shall be as valid and effectual as if executed as an original

       

      
        
          
            EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page
14 of 16

             

          

           

        

        
           

          
            

          

        

        
           

        

      

      IN WITNESS
WHEREOF this Agreement has been entered into the day and year first
written above.

       

       

      
        	
                 
      

              	
                MICRON
      TECHNOLOGY INC.

              

      

       

      By: 
/s/
Ronald C.
Foster               
         
                                                                                

       

      Name:  Ronald C.
Foster             
                                                                                 

       

      Title: 
CFO
and Vice President of
Finance                                                                                     

       

       

      STATE OF
IDAHO   )

                                          
) ss.

      COUNTY OF
ADA   )

       

      On this ___ day of February, 2009, before me, a Notary
Public in and for said state, personally appeared ______________________, known
to me to be the ________________ of Micron Technology Inc. (the “Company”), who
executed the foregoing instrument in behalf of the Company and acknowledged to
me the Company executed the same.

       

      IN WITNESS WHEREOF I have hereunto set my hand and
affixed my official seal the day and year in this certificate first above
written.

       

      Notary Public
___________________________

      Residing at:

      Commission
Expires:

       

       

      ECONOMIC
DEVELOPMENT BOARD

       

       

      By:  /s/
Dr. Beh Swan
Gin                    
  
                                                                

       

      Name:
 Dr. Beh
Swan
Gin                        
                                                                

       

      Title:  Managing
Director

       

      in the
presence of :  Quek Hong How 58318207E

      (Name and NRIC No. of
Witness):   /s/ Quek Hong
How

       

       

      
        
          
            
              EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page
15 of 16

               

            

             

          

          
             

            
              

            

          

          
             

          

        

      

       

       

      TECH
SEMICONDUCTOR SINGAPORE PTE. LTD.

       

       

      By:  /s/
Ong Peck
Choo                                        
                                                                           

       

      Name:   Ong
Peck
Choo                                       
                                                                

       

      Title:
Vice
President Finance & Company
Secretary                                                                                                           

       

      In the presence
of   Yeo Seng Lan (S7329286G) /s/ Yeo Seng
Lan

      (Name and NRIC No. of
Witness)

       

       

       

      
        
          EDB /
Micron / TECH – Mortgage and Charge Agreement                              Page
16 of 16exv10w1

Exhibit 10.1

General Form

Brandywine Realty Trust

Restricted Share Award

          This is a Restricted Share Award dated as of April 1, 2009 (“Date of Grant”) from
Brandywine Realty Trust, a Maryland real estate investment trust (the “Company”) to
[________________] (“Grantee”). Terms used herein as defined terms and not defined
herein have the meanings assigned to them in the Brandywine Realty Trust Amended and Restated 1997
Long-Term Incentive Plan, as amended from time to time (the “Plan”).

          1. Definitions. As used herein:

               (a) “Award” means the award of Restricted Shares hereby granted, which Restricted
Shares constitute “Performance Shares” under the Plan.

               (b) “Board” means the Board of Trustees of the Company, as constituted from time to
time.

               (c) “Cause” means “Cause” as defined in the Plan.

               (d) “Change of Control” means a “Change of Control” as defined in the Plan; provided
that if the Change in Control arises from a transaction described in clause (ii)(A) of the
definition of “Change in Control” in the Plan, then a Change of Control shall occur hereunder on
the date of the closing or effectiveness of such transaction.

               (e) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and
any successor thereto.

               (f) “Committee” means the Committee appointed by the Board in accordance with Section
2 of the Plan, if one is appointed and in existence at the time of reference. If no Committee has
been appointed pursuant to Section 2, or if such a Committee is not in existence at the time of
reference, “Committee” means the Board.

               (g) “Date of Grant” has the meaning shown above.

               (h) “Deferred Compensation Plan” means the Brandywine Realty Trust Executive Deferred
Compensation Plan, as in effect from time to time.

               (i) “Disability” means “Disability” as defined in the Plan.

               (j) “Employer” means the Company or the Subsidiary for which Grantee is performing
services on the applicable Vesting Date.

               (k) “Fair Market Value” means “Fair Market Value” as defined in the Plan.

 

 

               (l) “Performance Period” means, with respect to each Restricted Share, the period
beginning on the Date of Grant and ending on the applicable Vesting Date for such Restricted Share.

               (m) “Restricted Shares” means the [_________] Shares which are subject to vesting and
forfeiture in accordance with the terms of this Award.

               (n) “Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, as in effect from
time to time.

               (o) “Share” means a common share of beneficial interest, $.01 par value per share, of
the Company, subject to substitution or adjustment as provided in Section 3(c) of the Plan.

               (p) “Subsidiary” means, with respect to the Company, a subsidiary company, whether now
or hereafter existing, as defined in section 424(f) of the Code, and any other entity 50% or more
of the economic interests in which are owned, directly or indirectly, by the Company.

               (q) “Vesting Date” means the date(s) on which Grantee vests in all or a portion of the
Restricted Shares, as provided in Paragraph 3.

          2. Grant of Restricted Shares. Subject to the terms and conditions set forth herein
and in the Plan, the Company hereby grants to Grantee the Restricted Shares.

          3. Vesting of Restricted Shares.

               (a) Subject to the terms and conditions set forth herein and in the Plan, Grantee shall vest
in the Restricted Shares on the Vesting Date set forth in Paragraph 3(b) and as of the Vesting Date
set forth in Paragraph 3(b) shall be entitled to the delivery of Shares with respect to such
Restricted Shares; provided that either (i) on the Vesting Date, Grantee is, and has from the Date
of Grant continuously been, an employee of the Company or a Subsidiary during the Performance
Period, or (ii) Grantee’s termination of employment before the Vesting Date occurred because of
Grantee’s death or Disability.

               (b) Subject to Paragraphs 3(a) and 3(c), a Vesting Date for Restricted Shares subject to the
Award shall occur on April 1, 2012.

               (c) Notwithstanding Paragraphs 3(a) and 3(b), a Vesting Date for all Restricted Shares shall
occur upon the occurrence of a Change of Control, and the Restricted Shares, to the extent not
previously vested, shall thereupon vest in full, provided that:

	 	(i)	 	as of the date of the Change of
Control, Grantee is, and has from the Date of Grant continuously
been, an employee of the Company or a Subsidiary or

-2-

 

	 	(ii)	 	Grantee’s termination of
employment before the date of the Change of Control occurred
because of Grantee’s death or Disability.

               (d) To the extent provided under the Deferred Compensation Plan, Grantee may elect to defer
the receipt of Shares issuable with respect to Restricted Shares. To the extent Grantee has
elected to defer the receipt of such Shares, such Shares shall be delivered at the time or times
designated pursuant to the Deferred Compensation Plan.

          4. Forfeiture of Restricted Shares.

               (a) Subject to the terms and conditions set forth herein, if Grantee terminates employment
with the Company and all Subsidiaries prior to the Vesting Date for a Restricted Share for reasons
other than death or Disability, Grantee shall forfeit any such Restricted Share which has not
vested as of such termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee’s termination of employment with the Employer because of death or
Disability.

          Upon a forfeiture of the Restricted Shares as provided in this Paragraph 4, the Restricted
Shares shall be deemed canceled.

               (b) The provisions of this Paragraph 4 shall not apply to Restricted Shares as to which a
Vesting Date has occurred.

          5. Rights of Grantee. During the Performance Period, with respect to the Restricted
Shares, Grantee shall have the right to receive a cash payment equal to the value of any
distributions or dividends payable with respect to Shares.

          6. Notices. Any notice to the Company under this Award shall be made to:

Brandywine Realty Trust

555 E. Lancaster Ave., Suite 100

Radnor, PA 19087

Attention: General Counsel

or such other address as may be provided to Grantee by written notice. Any notice to Grantee under
this Award shall be made to Grantee at the address listed in the Company’s personnel files. All
notices under this Award shall be deemed to have been given when hand-delivered, telecopied or
delivered by first class mail, postage prepaid, and shall be irrevocable once given.

          7. Securities Laws. The Committee may from time to time impose any conditions on the
Restricted Shares as it deems necessary or advisable to ensure that the Plan satisfies the
conditions of Rule 16b-3, and that Shares are issued and resold in compliance with the Securities
Act of 1933, as amended.

          8. Delivery of Shares. Upon a Vesting Date, the Company shall notify Grantee (or
Grantee’s legal representatives, estate or heirs, in the event of Grantee’s death before a Vesting
Date) that the Restricted Shares have vested. Except to the extent that Grantee has

-3-

 

elected to defer the delivery of Shares under the Deferred Compensation Plan, within ten (10)
business days of a Vesting Date, the Company shall, without payment from Grantee for the Restricted
Shares, deliver to Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee, in its sole
judgment, under Paragraph 7, provided that no certificates for Shares will be delivered to Grantee
until appropriate arrangements have been made with Employer for the withholding of any taxes which
may be due with respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover required tax
withholdings and is further authorized to cancel a number of Shares for which the restrictions have
lapsed having an aggregate Fair Market Value equal to the required tax withholdings. The Company
may condition delivery of certificates for Shares upon the prior receipt from Grantee of any
undertakings which it may determine are required to assure that the certificates are being issued
in compliance with federal and state securities laws. The right to payment of any fractional
Shares shall be satisfied in cash, measured by the product of the fractional amount times the fair
market value of a Share on the Vesting Date, as determined by the Committee.

          9. Award Not to Affect Employment. The Award granted hereunder shall not confer upon
Grantee any right to continue in the employment of the Company or any Subsidiary.

          10. Miscellaneous.

               (a) The address for Grantee to which notice, demands and other communications are to be given
or delivered under or by reason of the provisions hereof shall be the Grantee’s address as
reflected in the Company’s personnel records.

[THIS SPACE INTENTIONALLY LEFT BLANK]

-4-

 

               (b) This Award and all questions relating to its validity, interpretation, performance and
enforcement shall be governed by and construed in accordance with the laws of the State of
Maryland.

	 	 	 	 	 
	 	BRANDYWINE REALTY TRUST

 	 
	 	BY:  	
 	 
	 	 	Gerard H. Sweeney 	 
	 	 	President and Chief Executive Officer 	 

	 	 	 	 	 
	Accepted:

____________________________________

[GRANTEE]

 	 	 
	 	 	 
	 	 	 
	 	 	 

-5-

 

	 	 	 	 	 

Form for CEO/CFO

Brandywine Realty Trust

Restricted Share Award

          This is a Performance Share Award dated as of April 1, 2009 (the “Date of Grant”),
from Brandywine Realty Trust, a Maryland real estate investment trust (the “Company”) to
[Gerard H. Sweeney] [Howard M. Sipzner] (“Grantee”). Terms used herein as defined terms
and not defined herein have the meanings assigned to them in the Brandywine Realty Trust Amended
and Restated 1997 Long-Term Incentive Plan, as amended from time to time (the “Plan”).

          1. Definitions. As used herein:

               (a) “Award” means the award of Restricted Shares hereby granted, which Restricted
Shares constitute “Performance Shares” under the Plan.

               (b) “Board” means the Board of Trustees of the Company, as constituted from time to
time.

               (c) “Cause” means “Cause” as defined in the Employment Agreement or the Plan.

               (d) “Change of Control” means a “Change of Control” as defined in the Plan; provided
that if the Change in Control arises from a transaction described in clause (ii)(A) of the
definition of “Change in Control” in the Plan, then a Change of Control shall occur hereunder on
the date of the closing or effectiveness of such transaction.

               (e) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and
any successor thereto.

               (f) “Committee” means the Committee appointed by the Board in accordance with Section
2 of the Plan, if one is appointed and in existence at the time of reference. If no Committee has
been appointed pursuant to Section 2, or if such a Committee is not in existence at the time of
reference, “Committee” means the Board.

               (g) “Date of Grant” has the meaning shown above.

               (h) “Deferred Compensation Plan” means the Brandywine Realty Trust Executive Deferred
Compensation Plan, as in effect from time to time.

               (i) “Disability” means “Disability” as defined in the Plan.

               (j) “Employer” means the Company or the Subsidiary for which Grantee is performing
services on the applicable Vesting Date.

 

 

               (k) “Employment Agreement” means the Amended and Restated Employment Agreement between
Grantee and the Company, dated as of _________, as amended from time to time, or any subsequent
employment agreement between Grantee and the Company as in effect at the time of determination.

               (l) “Fair Market Value” means “Fair Market Value” as defined in the Plan.

               (m) “Performance Period” means, with respect to each Performance Share, the period
beginning on the Date of Grant and ending on the applicable Vesting Date for such Performance
Share.

               (n) “Restricted Shares” means the _________ Shares which are subject to vesting and
forfeiture in accordance with the terms of this Award.

               (o) “Resignation for Good Reason” means “Resignation for Good Reason” as defined in
the Employment Agreement.

               (p) “Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, as in effect from
time to time.

               (q) “Share” means a common share of beneficial interest, $.01 par value per share, of
the Company, subject to substitution or adjustment as provided in Section 3(c) of the Plan.

               (r) “Subsidiary” means, with respect to the Company, a subsidiary company, whether now
or hereafter existing, as defined in section 424(f) of the Code, and any other entity 50% or more
of the economic interests in which are owned, directly or indirectly, by the Company.

               (s) “Vesting Date” means the date(s) on which Grantee vests in all or a portion of the
Restricted Shares, as provided in Paragraph 3.

          2. Grant of Restricted Shares. Subject to the terms and conditions set forth herein
and in the Plan, the Company hereby grants to Grantee the Restricted Shares.

          3. Vesting of Restricted Shares.

               (a) Subject to the terms and conditions set forth herein and in the Plan, Grantee shall vest
in the Restricted Shares on the Vesting Date set forth in Paragraph 3(b) and as of the Vesting Date
set forth in Paragraph 3(b) shall be entitled to the delivery of Shares with respect to such
Restricted Shares, provided that either (i) on the Vesting Date, Grantee is, and has from the Date
of Grant continuously been, an employee of the Company or a Subsidiary during the Performance
Period, or (ii) Grantee’s termination of employment before the Vesting Date occurred because of
Grantee’s death or Disability.

               (b) Subject to Paragraphs 3(a) and 3(c), a Vesting Date for Restricted Shares subject to the
Award shall occur on April 1, 2012.

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               (c) Notwithstanding Paragraphs 3(a) and 3(b), a Vesting Date for all Restricted Shares shall
occur upon the occurrence of any of the following events, and the Restricted Shares, to the extent
not previously vested, shall thereupon vest in full:

	 	(i)	 	A Change of Control, provided
that (A) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of
the Company or a Subsidiary or (B) Grantee’s termination of
employment before the date of the Change of Control occurred
because of Grantee’s death or Disability;
	 
	 	(ii)	 	Termination of the Grantee’s
employment by the Employer without Cause; or
	 
	 	(iii)	 	The Grantee’s resignation from
the Employer if such resignation is a Resignation for Good
Reason.

               (d) To the extent provided under the Deferred Compensation Plan, Grantee may elect to defer
receipt of Shares issuable with respect to Restricted Shares. To the extent Grantee has elected to
defer the receipt of such Shares, such Shares shall be delivered at the time or times designated
pursuant to the Deferred Compensation Plan.

          4. Forfeiture of Restricted Shares.

               (a) Subject to the terms and conditions set forth herein, if Grantee terminates employment
with the Company and all Subsidiaries prior to the Vesting Date for a Performance Share for reasons
other than as described in Paragraph 3(c)(ii) or (iii) Grantee shall forfeit any such Performance
Share which has not vested as of such termination of employment, provided that Grantee shall not,
on account of such termination, forfeit Restricted Shares which have not vested as of Grantee’s
termination of employment with the Employer because of death or Disability. Upon a forfeiture of
the Restricted Shares as provided in this Paragraph 4, the Restricted Shares shall be deemed
canceled.

               (b) The provisions of this Paragraph 4 shall not apply to Restricted Shares as to which a
Vesting Date has occurred.

          5. Rights of Grantee. During the Performance Period, with respect to the Restricted
Shares, Grantee shall have the right to receive a cash payment equal to the value of any
distributions or dividends payable with respect to Shares.

          6. Notices. Any notice to the Company under this Award shall be made to:

Brandywine Realty Trust

555 East Lancaster Avenue

Suite 100

Radnor, PA 19087

Attention: Chief Executive Officer

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or such other address as may be provided to Grantee by written notice. Any notice to Grantee under
this Award shall be made to Grantee at the address listed in the Company’s personnel files. All
notices under this Award shall be deemed to have been given when hand-delivered, telecopied or
delivered by first class mail, postage prepaid, and shall be irrevocable once given.

          7. Securities Laws. The Committee may from time to time impose any conditions on the
Restricted Shares as it deems necessary or advisable to ensure that the Plan satisfies the
conditions of Rule 16b-3, and that Shares are issued and resold in compliance with the Securities
Act of 1933, as amended.

          8. Delivery of Shares. Upon a Vesting Date, the Company shall notify Grantee (or
Grantee’s legal representatives, estate or heirs, in the event of Grantee’s death before a Vesting
Date) that the Restricted Shares have vested. Except to the extent that Grantee has elected to
defer the delivery of Shares under the Deferred Compensation Plan, within ten (10) business days of
a Vesting Date, the Company shall, without payment from Grantee, deliver to Grantee a certificate
for a number of Shares equal to the number of vested Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee, in its sole
judgment, under Paragraph 7, provided that no certificates for Shares will be delivered to Grantee
until appropriate arrangements have been made with Employer for the withholding of any taxes which
may be due with respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover required tax
withholdings and is further authorized to cancel a number of Shares for which the restrictions have
lapsed having an aggregate Fair Market Value equal to the required tax withholdings. The Company
may condition delivery of certificates for Shares upon the prior receipt from Grantee of any
undertakings which it may determine are required to assure that the certificates are being issued
in compliance with federal and state securities laws. The right to payment of any fractional
Shares shall be satisfied in cash, measured by the product of the fractional amount times the fair
market value of a Share on the Vesting Date, as determined by the Committee.

          9. Award Not to Affect Employment. The Award granted hereunder shall not confer upon
Grantee any right to continue in the employment of the Company or any Subsidiary.

          10. Miscellaneous.

               (a) The address for Grantee to which notice, demands and other communications are to be given
or delivered under or by reason of the provisions hereof shall be the Grantee’s address as
reflected in the Company’s personnel records.

               (b) This Award and all questions relating to its validity, interpretation, performance and
enforcement shall be governed by and construed in accordance with the laws of Pennsylvania.

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	 	BRANDYWINE REALTY TRUST

 	 
	 	By:  	
 	 
	 	 	TITLE: 	 	 
	 	 	 	 
	 

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