Document:

Exhibit 10.2

 

2006 CHANGE IN CONTROL SEVERANCE PLAN

FOR EMPLOYEES OF

HERITAGE PROPERTY INVESTMENT TRUST, INC.
WHEREAS, contemporaneously with the adoption of this 2006 Change in Control Severance Plan for Employees of the Company (the “Plan”), the Company, Centro Saturn LLC, a Delaware limited liability company (“Parent”), and Centro Saturn MergerSub LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent (“MergerSub”), are entering into an Agreement and Plan of Merger, dated of even date herewith (as such agreement may hereafter be amended from time to time, the “Merger Agreement”), pursuant to which, among other things, the Company will be merged with and into MergerSub (the “Merger”); and
WHEREAS, as part of the Merger, the Company desires to establish this Plan to provide the Participants with certain benefits in the event of certain terminations of their employment following and in connection with the Merger.
NOW, THEREFORE, the Company does hereby establish the Plan in accordance with the following terms:
1.            Term of Plan; Effect on Other Plans. This Plan shall become effective on the date hereof and remain in effect for twelve months following the consummation of the Merger, which twelve month period shall constitute the “Term” of this Plan. This Plan does not affect any other severance plan or agreement applicable to employees who are not Participants in this Plan. This Plan shall not apply upon any termination of employment of a Participant except as provided in Section 4(a) hereof.
2.            Employees Covered. This Plan shall apply to the Participants as hereinafter defined.
3.            Definitions. For purposes of this Plan, the following definitions shall apply:
“Participant” shall mean all employees of the Company other than any employee who shall be party to a written agreement providing for the payment of severance benefits to such employee upon termination of employment following the Merger.
“Cause” shall mean the termination of a Participant due to:

(i)                                     the conviction of the Participant of, or the
entry of a plea of guilty or nolo contendere
by the Participant to, a felony (exclusive of any felony relating to negligent
operation of a motor vehicle and not including a conviction, plea of guilty or nolo contendere arising solely under a statutory provision
imposing criminal liability upon the Participant on a per se basis
due to the Company offices held by the Participant, so long as any act or
omission of the Participant with respect to such matter was not taken or
omitted in contravention of any applicable policy or directive of the Board);

 

 

(ii)                                  willful breach of duty of loyalty that is
materially detrimental to the Company;

(iii)                               willful failure to perform or adhere to
explicitly stated duties or guidelines of employment or to follow the
directives of the Board or Chief Executive Officer which continues for thirty
days after written warning to the Participant that it will be deemed a basis
for a for “Cause” termination; or

(iv)                              gross negligence or willful misconduct in the
performance of the Participant’s duties.

For purposes of this Section, no act, or failure to act, on the
Participant’s part will be deemed willful unless done, or omitted to be done,
by the Participant not in good faith and without a reasonable belief that the
Participant’s act or failure to act, was in the best interest of the Company. The
Date of Termination for a termination for Cause shall be the date specified by
the Company.

“Change of Control” shall mean the consummation of the Merger.

“Company” shall mean Heritage Property Investment Trust, Inc., a Maryland
corporation and any successors-in-interest thereto.

“Effective Date” shall mean the date on which the Merger is consummated.
“Employer” shall mean the Company or any subsidiary thereof, or any successors in interest thereto or acquiror thereof.
“Good Reason” shall mean the occurrence, following the consummation of the Merger and during the Term of this Plan, of any of the following without the Participant’s express written consent:

(i)                                     A reduction by the Company in the Participant’s
Annual Base Salary as in effect as of the date of this Plan;

(ii)                                  Any reduction in the Participant’s target or
maximum bonus percentage under any Company annual bonus plan applicable to the
Participant from the percentage in effect as of the date of this Plan;

(iii)          Except
as required by law, any action by the Company to diminish or deprive the
Participant of any material fringe benefit enjoyed by the Participant under the
employee benefit and welfare plans of the Company, including without
limitation, any medical, dental, 401(k), accident, disability and life
insurance benefits;

(iv)                              The requirement by the Company that the principal
place of business at which the Participant performs his or her duties be
changed to a location outside the metropolitan area where the Participant had
performed his or her duties at the time of the consummation of the Merger; or

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(v)                                 Any breach by the Company of any provision of
this Plan.

“Notice of Termination” shall mean a written notice that shall indicate the specific termination provision in this Plan relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Participant’s employment under the provisions so indicated.
4.                                     Termination of Employment; Compensation Upon Termination of Employment.
(a) Termination without Cause by the Company or for Good Reason by the Participant. Following the consummation of the Merger, but at any time during the Term, the Participant shall be entitled to the compensation provided for in Section 4(b) hereof if the Participant’s employment by an Employer shall be terminated by: (A) an Employer for any reason other than the Participant’s Disability or death, or for Cause; or (B) the Participant with Good Reason.
(b) Compensation Upon Termination of Employment upon a Change in Control. If the Participant’s employment by an Employer shall be terminated in accordance with Section 4(a) (the “Termination”), the Participant shall be entitled to all of the following payments and benefits:
                                (i) Severance. The Company shall pay or cause to be paid to the Participant cash severance in accordance with the chart set forth on Exhibit A hereto in a single lump sum.
                                (ii) Additional Payments and Benefits. The Participant shall also be entitled to:

(A)   a
lump sum cash payment equal to the sum of (I) the Participant’s accrued
but unpaid annual base salary through the date of Termination, and (II) any
accrued, unused vacation pay, in each case, in full satisfaction of Participant’s
rights thereto.

(B) all other accrued or vested benefits
in accordance with the terms of the applicable plan (i.e., the 401(k) plan),
which shall be vested as of the date of Termination.

                                (iii) All lump sum payments under Section 4(b)(i) shall be paid as soon as administratively possible but no later than twenty-one (21) business days after Participant’s executed, written release is received, processed, and becomes binding on Participant and Company.
(c) Withholding. Payments and benefits provided pursuant to Section 4(b) shall be subject to any applicable payroll and other taxes required to be withheld.

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(d) In order to be eligible to receive benefits under Section 4(b)(i) of the Plan, a Participant must execute a general waiver and release containing the substance of the form attached hereto as Exhibit B.
5.            Notice of Termination.
(a)   Termination for Cause. Termination of the Participant for Cause shall be made by delivery to the Participant of a Notice of Termination (as defined above), given to the Participant after the Participant has been given thirty (30) days prior written notice of the Company’s intent to terminate the Participant for Cause, specifying the basis for such termination and the particulars thereof. The Notice of Termination shall state that, in the reasonable judgment of the Company, the conduct or event set forth in any of clauses (i) through (iv) of the definition of Cause set forth in Section 3 above has occurred and that such occurrence warrants the Participant’s termination of employment for Cause.
(b)  Termination for Good Reason. In the event that the Participant provides the Company with a Notice of Termination (as defined above) referencing the definition of Good Reason set forth in Section 3 above, the Company shall have thirty (30) days after receipt of written notice to resolve the circumstances alleged to constitute Good Reason. The Participant’s written notice must specify the particular circumstances alleged to constitute Good Reason and Participant’s intention to terminate his or her employment unless circumstances giving rise to such Good Reason are cured within such thirty (30) day period.
(c)   Miscellaneous. Any purported termination of the Participant’s employment with an Employer, other than on account of Participant’s death, shall be communicated by a Notice of Termination to the Participant, if such termination is by an Employer, or to an Employer, if such termination is by the Participant. For purposes of this Plan, no purported termination of Participant’s employment with an Employer shall be effective unless such a Notice of Termination has been given.
6.             Confidentiality; Non-Disparagement.
(a)   The Participant shall retain in confidence any and all confidential information concerning the Employer and its respective businesses that is now known or hereafter becomes known to the Participant, except as otherwise required by law and except information (i) ascertainable or obtained from public information, (ii) received by the Participant at any time after the Participant’s employment by the Employer has terminated, from a third party not employed by or otherwise affiliated with the Employer or (iii) that is or becomes known to the public by any means other than a breach of this Section 6.
(b)  The Participant shall not in any way publicly disparage the Employer or any of Employer’s shareholders, directors, officers, or employees at any time; provided, that in the event of any such occurrence, Employer shall be entitled to immediately cease any payments and benefits to which the Participant would otherwise be entitled pursuant to this Plan. For purposes of this Section 6(b), the commencement or continuation of any

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legal proceedings involving matters such as
Participant’s performance, conduct, etc., shall not constitute “disparagement.”

(c)   The provisions of this Section 6 are supplemental to, and do not supercede, any other obligations the Participant has to the Company.
7.             Non-Exclusivity of Rights.
Nothing in this Plan shall prevent or limit the Participant’s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company or any of its subsidiaries and for which the Participant may qualify, nor shall anything herein limit or reduce such rights as the Participant may have under any written agreements with the Company or any of its subsidiaries (although any such severance benefits reduce the severance payable under this Plan). Amounts that are vested benefits or to which the Participant is otherwise entitled under any plan or program of the Company or any of its subsidiaries shall be payable in accordance with such plan or program, except as explicitly modified by this Plan.
8.             Third Party Beneficiary; Joint and Several Liability.
(a)   Each Participant covered under this Plan shall have third party beneficiary rights with respect to the Participant’s rights and entitlements hereunder and may file suit on his or her behalf in a court of competent jurisdiction to enforce such rights and entitlements.
(b)  Each entity included in the definition of “Employer” and any successors or assigns shall be jointly and severally liable with the Company under this Plan.
9.             Governing Law; Venue.
This Plan shall be governed by and construed in accordance with the laws of the State of Maryland, without giving effect to principles of conflicts of law. Any suit with respect hereto will be brought in the federal or state courts in the districts, which include The Commonwealth of Massachusetts, and the parties hereby agree and submit to the personal jurisdiction and venue thereof.
10.          Successors and Assignment.
               (a) This Plan shall be binding upon and shall inure to the benefit of the Company, its successors and assigns, and the Company shall explicitly require any successor or assign to expressly assume and agree to maintain this Plan and to perform under this Plan to the same extent that the Company would be required to perform under the Plan if no such succession or assignment had taken place. As used in this Plan, “Company” shall mean (i) the Company as hereinbefore defined, and (ii) any successor to all the stock of the Company or to all or substantially all of the Company’s business or assets (other than with respect to sales of assets in the ordinary course of business, securitization and whole loan sales provided by the Company’s interim and permanent financing arrangements) that executes and delivers an agreement provided for in this

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Section 10(a) or that otherwise becomes
bound by all the terms and provisions of this Plan by operation of law,
including any parent or subsidiary of such a successor.

(b)  This Plan shall inure to the benefit of and be enforceable by the Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Participant should die while any amount would be payable to the Participant hereunder had the Participant lived, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Plan to the Participant’s estate or designated beneficiary. Neither this Plan nor any right arising hereunder may be assigned or pledged by the Participant.
11.              Severability.
The provisions of this Plan shall be deemed severable, and the invalidity or unenforceability of any provision hereof shall not affect the validity or enforceability of the other provisions hereof.
12.               Right to Interpret Plan; Amendment or Termination.
                    (a) Exclusive Discretion. The Company shall have the exclusive and final discretion and authority to establish rules, forms, and procedures for the administration of the Plan, and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or administration arising in connection with the operation of the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The rules, interpretations, computations and other actions of the Company shall be binding and conclusive on all persons.
                    (b) Amendment or Termination. The Company also reserves the right to amend or discontinue this Plan or the benefits provided hereunder at any time. However, this Plan may not be amended or terminated during the period commencing on the date of a Change in Control and ending on the twelfth month following the Change in Control. In addition, no such amendment or termination after the inception of this Plan shall affect the right to any unpaid benefit of any Employee whose termination date has occurred prior to amendment or termination of the Plan. Any action amending or terminating the Plan shall be in writing and executed by the Chief Executive Officer or Chief Financial Officer of the Company.
13.               No Implied Employment Contract.
The Plan shall not be deemed (i) to give any employee or other person any right to be retained in the employ of the Company or (ii) to interfere with the right of the Company to discharge any employee or other person at any time and for any reason, which right is hereby reserved.
14.               Basis Of Payments To And From Plan.

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All benefits under the Plan shall be paid by the Company. The Plan shall be unfunded, and benefits hereunder shall be paid only from the general assets of the Company.

15.               Section 409A of the Internal
Revenue Code.

Anything in this Plan to the contrary notwithstanding,
if (A) on the date of termination of Participant’s employment with the
Company, any of the Company’s stock is publicly traded on an established
securities market or otherwise (within the meaning of Section 409A(a)(2)(B)(i) of
the Internal Revenue Code, as amended (the “Code”)) and (B) as a result of
such termination, the Participant would receive any payment that, absent the
application of this Section 15, would be subject to interest and
additional tax imposed pursuant to Section 409A(a) of the Code as a
result of the application of Section 409A(2)(B)(i) of the Code, then
no such payment shall be payable prior to the date that is the earliest of (1) 6
months after the Participant’s termination date, (2) the Participant’s
death or (3) such other date as will cause such payment not to be subject
to such interest and additional tax.

It is the intention of the parties that payments or benefits payable under this Plan not be subject to the additional tax imposed pursuant to Section 409A of the Code. To the extent such potential payments or benefits could become subject to such Section, the parties shall cooperate to amend this Agreement with the goal of giving the Participants the economic benefits described herein in a manner that does not result in such tax being imposed.

 7Exhibit 10.3

MEMBERSHIP INTEREST TRANSFER AND

ENVIRONMENTAL INDEMNITY RELEASE

July 9, 2006

This Membership Interest Transfer
and Environmental Indemnity Release (this “Agreement”)
is entered into as of the date set forth above by and among: (a) New
England Teamsters & Trucking Industry Pension Fund (“NETT”); (b) Net Realty Holding
Trust (“Net Realty”); (c) Net
Properties Management, Inc. (together with Net Realty and NETT, the “Indemnifying Parties”); (d) Heritage
Property Investment Trust, Inc. (“Heritage”);
(e) Heritage Property Investment Limited Partnership (“Heritage OP”); (f) Heritage
Realty Limited Partnership and (g) Heritage Realty Trust, Inc., (h) Heritage
Realty Management, Inc. (“Heritage Management”)
(the parties listed in (a) through (h) together, the “Indemnified Parties”); (i) NET
131 LLC (“NET 131”); and (j) NET
Manager LLC (the ”LLC”), in
its capacity as manager of 131 Dartmouth Street LLC (the “Manager”).

WHEREAS, contemporaneously with the execution of this of this
Agreement, Heritage, Centro Saturn LLC, a Delaware limited liability company (“Parent”), and Centro Saturn
MergerSub LLC, a Delaware limited liability company and wholly owned subsidiary
of Parent (“MergerSub”), are entering
into an Agreement and Plan of Merger, of even date herewith (as such agreement
may hereafter be amended from time to time, the “Parent
Merger Agreement”), pursuant to
which Heritage will be merged with and into MergerSub (the “Merger”);

WHEREAS,
NETT desires that, simultaneously with, and conditioned upon the consummation
of, the Merger: (a) Heritage OP transfer to NET 131, NETT’s wholly-owned
subsidiary, the membership interest (the ”Interest”)
in the LLC currently held by Heritage OP under that certain Third Amended and
Restated Operating Agreement of the LLC dated as of June 30, 2003 by and
between Heritage OP and NET 131 (the “LLC Agreement”);
and (b) the Indemnified Parties release the Indemnifying Parties from the environmental
indemnification obligations specified below imposed pursuant to that certain
Contribution Agreement and Joint Escrow Instructions dated as of July 9,
1999 by and among the Indemnified Parties and the Indemnifying Parties
(the ”Contribution Agreement”);

WHEREAS,
Heritage desires, simultaneously with and conditioned upon the consummation of,
the Merger, to cause Heritage OP and the Indemnified Parties, its wholly-owned
subsidiaries, to take the foregoing actions, in return for which NETT shall pay
to Heritage Seven Million and 00/100 Dollars ($7,000,000.00) (the “Release Amount”); and

WHEREAS,
Heritage, Heritage Management and NET 131 desire that, simultaneously with, and
conditioned upon the consummation of, the Merger, that certain Lease dated February 5,
2004 (the “131 Lease”) by and between
the LLC, as lessor, and Heritage Management, as lessee, be amended to allow
Heritage Management to terminate the 131 Lease under the conditions specified
herein.

 

 

NOW, THEREFORE, in consideration of the promises, mutual
covenants and consideration set forth herein, the sufficiency and receipt of
which are hereby acknowledged, the parties hereto agree as follows:

1.             Transfer of the Interest, Membership and Management of the LLC, Lease
Termination and Payment of Release Amount.

(a)           Subject to the terms and conditions
set forth herein, simultaneously with, and conditioned upon the consummation
of, the Merger:

(i)                                     pursuant
to Section 6.1 of the LLC Agreement, Heritage shall cause Heritage OP to transfer
the Interest to NET 131;

(ii)                                  pursuant
to Section 3.1(b) of the LLC Agreement, and simultaneously with the
transfer of the Interest hereunder, the Manager shall amend Schedule 1
of the LLC Agreement to reflect NET 131 as sole member of the LLC;

(iii)                               pursuant
to Section 4.1(f) of the LLC Agreement, and simultaneously with the
transfer of the Interest hereunder, the Manager hereby resigns as manager of
the LLC and, notwithstanding any provision in the LLC Agreement to the
contrary, including Section 4.1(f), NET 131 hereby accepts the Manager’s
immediate resignation and agrees to undertake the role of manager of the LLC;

(iv)                              notwithstanding
any provision in the 131 Lease to the contrary, Heritage and NET 131 agree
that, at any time following the date that is thirty-six (36) months after the
consummation of the Merger, Heritage’s successor in interest following the
Merger shall have the right to terminate the 131 Lease upon: (a) ninety
(90) days prior written notice to NET 131; and (b) the payment to NET 131
of One Million and 00/100 Dollars ($1,000,000.00);

(v)                                 the
131 Lease shall be deemed to be amended to add the following provision:

“Notwithstanding any
provision in this Lease to the contrary, at any time following the date (the “Early Termination Expiration Date”)
that is thirty-six (36) months after the date of consummation of the Merger (as
defined in that certain Membership Interest Transfer and Environmental
Indemnity Release among Landlord, Tenant and certain other parties), Tenant
shall have the right to terminate this Lease upon: (a) written notice
delivered to Landlord on or before the Early Termination Expiration Date; and (b) the
payment to Landlord (or such affiliate of Landlord as Landlord shall designate)
of One Million and 00/100 Dollars ($1,000,000.00). Any such termination
shall take effect on the date that is ninety (90) days after the date that the
termination notice is delivered by Tenant, and such effective date shall be
deemed to be the Lease Expiration Date.”; and

(vi)                              NETT
shall pay the Release Amount to Heritage in immediately available funds.

 

 

2.             Release of Environmental Indemnification Obligations.

(b)           Subject to the terms and conditions
set forth herein, simultaneously with, and conditioned upon the consummation
of, the Merger and pursuant to Section 13.3 of the Contribution Agreement,
each of the Indemnified Parties for itself and on behalf of its assigns, does
hereby release, cancel, forgive and forever discharge each of the Indemnifying
Parties, each of their parent companies, subsidiaries, affiliates, divisions,
successors and assigns, and all of their stockholders, members, officers,
directors, employees, partners and representatives from the joint and several
obligation of the Indemnifying Parties to indemnify, protect, defend and hold
harmless the Indemnified Parties and NH Heritage (as defined in the
Contribution Agreement) from and against any claim, demand, obligation, loss,
cost, damage, liability, judgment or expense (including, without limitation,
reasonable attorneys’ fees, charges and disbursements) pursuant to their
obligations set forth in §11(a)(ii)(D), §11(a)(ii)(E) and/or §11(a)(ii)(F) of
the Contribution Agreement; provided, however, that all other
provisions of the Contribution Agreement shall remain in full force and effect,
including, without limitation §11(a)(ii)(A), §11(a)(ii)(B) and
§11(a)(ii)(C).

3.             Representations and Warranties.

(a)           Each of Heritage and the applicable
subsidiaries represents and warrants to NETT that, as of the date hereof:

(i)                                     Heritage
OP and each of the Indemnified Parties is duly organized, validly existing and
in good standing under the laws of the state of in which it has been organized;

(ii)                                  Heritage
OP owns and has the right to transfer the Interest to NET 131;

(iii)                               the
Interest is free and clear of all liens, advance claims, security interests,
pledges or similar encumbrances;

(iv)                              all
actions or consents on the part of Heritage OP necessary for the authorization
of the transfer of the Interest, and the performance and obligations of Heritage
OP in respect of the Interest hereunder, have been duly taken;

(v)                                 all
actions or consents on the part of each of the Indemnified Parties necessary
for the authorization of the environmental indemnification release, and the
performance and obligations of the Indemnified Parties in respect of such
release hereunder, have been duly taken; and

(vi)                              this
Agreement when executed and delivered, will be a valid and binding obligation
of Heritage, Heritage OP and each of the Indemnified Parties enforceable in
accordance with its terms.

 

 

(b)           NETT represents and warrants to each
of Heritage and Heritage OP that, as of the date hereof:

(i)                                     NETT
is duly organized, validly existing and in good standing under the laws of the
state of Delaware;

(ii)                                  all
actions or consents on the part of NETT necessary for the authorization of this
Agreement, and the performance and obligations of NETT hereunder, have been
duly taken; and

(iii)                               this
Agreement when executed and delivered, will be a valid and binding obligation
of NETT enforceable in accordance with its terms.

4.             Conditions to NET 131’s
and NETT’s Obligations. The obligation of the LLC to amend the 131
Lease and of NETT to pay the Release Amount is conditioned upon (a) the
consummation of the Merger and (b) each of the representations and
warranties of Heritage, Heritage OP and the Indemnified Parties contained in this
Agreement being true and correct as of the date hereof.

5.             Conditions to Heritage’s
Obligations. The obligation of Heritage Management to amend the 131
Lease and to cause (a) Heritage OP to transfer the Interest to NET 131,
and (b) the Indemnified Parties to release the Indemnifying Parties from
the specified environmental indemnification obligations is conditioned upon the
following conditions:

(i)                                     The
consummation of the Merger;

(ii)                                  Each
of the representations and warranties of NETT contained in this Agreement shall
be true and correct as of the date hereof; and

(iii)                               NETT
shall have paid the Release Amount.

6.             Other Remedies.   The rights,
powers and remedies granted to the parties hereto pursuant to the provisions of
this Agreement shall be in addition to all rights, powers and remedies granted
to them under any statute or rule of law. Any forbearance, failure or
delay by any of the parties hereto in exercising any right, power or remedy hereunder
shall not be deemed to be a waiver of such right, power or remedy. Any single
or partial exercise of any right, power or remedy under this Agreement shall
not preclude the further exercise thereof, and every right, power and remedy of
each party hereto shall continue in full force and effect unless such right,
power or remedy is specifically waived by an instrument executed by such party.

7.             Severability.  The parties hereto intend and believe that
each provision in this Agreement comports with all applicable local, state and
federal laws and judicial decisions. However, if any provisions, provision or
portion of any provision in this Agreement is found by a court of competent
jurisdiction to be in violation of any applicable local, state or federal
ordinance, statute, law or administrative or judicial decision or public
policy, and if such court would declare such provisions, provision or portion
of any provision of this Agreement to be illegal, invalid, unlawful, void or
unenforceable as written, then it is the intent of the parties hereto that such
provisions, provision or portion of any provisions shall be given force and
effect to the fullest possible extent that they are legal, valid and
enforceable, and the remainder of this Agreement shall be construed as if such
illegal, invalid, unlawful, void or unenforceable provisions, provision or
portion of any provision were severable and not contained 

 

 

herein, and the rights,
obligations and interest of the parties hereto under the remainder of this
Agreement shall continue in full force and effect.

8.             Further Assurances. At any time and from
time to time after the date first set forth above, the parties hereto shall
cooperate with one another to execute and deliver any other documents or
agreements, and do all further acts and things as may reasonably be required to
carry out the intent of the parties under this Agreement.

9.             Counterpart Signatures. This Agreement may
be executed in any number of duplicate originals or counterparts, each of which
constitutes an original, and all of which, collectively, constitute only one
agreement.

 

 

IN WITNESS WHEREOF,
this Agreement has been executed as of the date first set forth above.

	
  

  	
  HERITAGE PROPERTY INVESTMENT TRUST, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C.
  Prendergast

  
	
   

  	
  Name:

  	
  Thomas C.
  Prendergast

  
	
   

  	
  Title:

  	
  President and
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  HERITAGE PROPERTY INVESTMENT LIMITED PARTNERSHIP

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Heritage Property Investment Trust, Inc., its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C. Prendergast

  
	
   

  	
  Name:

  	
  Thomas C. Prendergast

  
	
   

  	
  Title:

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  HERITAGE REALTY LIMITED PARTNERSHIP

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Heritage Realty Trust, Inc., its general
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C. Prendergast

  
	
   

  	
  Name:

  	
  Thomas C. Prendergast

  
	
   

  	
  Title:

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  HERITAGE REALTY TRUST, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C. Prendergast

  
	
   

  	
  Name:

  	
  Thomas C. Prendergast

  
	
   

  	
  Title:

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  HERITAGE REALTY MANAGEMENT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C. Prendergast

  
	
   

  	
  Name:

  	
  Thomas C. Prendergast

  
	
   

  	
  Title:

  	
  President and Chief Executive Officer

  

 

** Counterpart Signatures Continue on Next Page **

 

 

IN WITNESS WHEREOF,
this Agreement has been executed as of the date first set forth above.

	
  

  	
  NEW ENGLAND TEAMSTERS AND TRUCKING INDUSTRY
  PENSION FUND

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph L.
  Barry

  
	
   

  	
  Name:

  	
  Joseph L. Barry

  
	
   

  	
  Title:

  	
  Co-Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David W.
  Laughton

  
	
   

  	
  Name:

  	
  David W.
  Laughton

  
	
   

  	
  Title:

  	
  Co-Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
  NET PROPERTIES MANAGEMENT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph L.
  Barry

  
	
   

  	
  Name:

  	
  Joseph L. Barry

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David W.
  Laughton

  
	
   

  	
  Name:

  	
  David W.
  Laughton

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NET REALTY HOLDING TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph L.
  Barry

  
	
   

  	
  Name:

  	
  Joseph L. Barry

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David W.
  Laughton

  
	
   

  	
  Name:

  	
  David W.
  Laughton

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NET 131 LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Net Realty Holding Trust, Inc., its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph L.
  Barry

  
	
   

  	
  Name:

  	
  Joseph L. Barry

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David W.
  Laughton

  
	
   

  	
  Name:

  	
  David W.
  Laughton

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NET MANAGER LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert G. Prendergast

  
	
   

  	
  Name:

  	
  Robert G. Prendergast

  
	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]