Document:

Exhibit 10.40

 Exhibit 10.40 
 FEDERAL REALTY INVESTMENT TRUST 
 COMBINED INCENTIVE AND NON-QUALIFIED
SHARE OPTION 
 AGREEMENT FOR EMPLOYEES 

AGREEMENT (“Agreement”) dated this      day of
            , 201     (the “Grant Date”), by FEDERAL REALTY INVESTMENT TRUST, a Maryland real estate investment trust (“Trust”)
with an address of 1626 East Jefferson Street, Rockville, Maryland 20852, providing notice of a share option award to
                    , an employee of the Trust (“Optionee”). 

WHEREAS, the Trust desires to have Optionee continue in its employ and to provide Optionee with an incentive by sharing in the
success of the Trust; 
 WHEREAS, in order to provide such an incentive to its key employees, the Trust has adopted the
Federal Realty Investment Trust 2010 Performance Incentive Plan (“Plan”); 
 WHEREAS, the Trust desires to
grant, as set forth herein, to Optionee under the Plan (1) options for Shares that qualify as “Incentive Stock Options” within the meaning of Section 422 or any successor provision of the Internal Revenue Code of 1986, as amended
(“Code”), and/or (2) options not intended to qualify as Incentive Stock Options (“Non-Qualified Share Options”); and 
 WHEREAS, unless otherwise provided herein, capitalized terms used in this Agreement shall have the meaning given them in the Plan. 

NOW THEREFORE, in consideration of the mutual covenants and representations herein contained and intending to be legally bound,
the parties hereto agree as follows: 
 1. Option Grant Facts: The Trust hereby grants to Optionee the following
option (“Option”) to purchase Shares: 
  

									
		 	(a)	  	Number of Shares Subject to this Option:	  		  	
					
		 		  	 Incentive Stock Options:
	  	______	  	
		 		  	 Non-Qualified Share Options:
	  	______	  	
					
		 	(b)	  	Purchase Price of Shares subject to the Option:	  	$          	  	
					
		 	(c)	  	Grant Date of the Option:	  	______	  	
					
		 	(d)	  	Vesting Schedule of Shares Subject to the Option:	  		  	

  

									
	  	 	 Incentive
	  	 Non-Qualified
	  	 Vesting Date
	  	 
					
		 	______	  	______	  	______, 20    	  	
		 	______	  	______	  	______, 20    	  	
		 	______	  	______	  	______, 20    	  	

 The Option may be exercised from time-to-time to the extent vested. To the extent any portion of the Option
designated above as an Incentive Stock Option shall fail to qualify as an Incentive Stock Option for any reason, including an exercise by the Optionee after the time period required to receive Incentive Stock Option treatment, it shall be deemed a
Non-Qualified Share Option. 
 2. Term. The Option shall expire ten (10) years from the Grant Date, subject
to earlier termination as set forth in Section 4 of this Agreement and the terms of the Plan. 

  
 Page 1 of 5

 3. Acceleration of Vesting. The vesting of this Option shall accelerate and
the Option shall fully vest and become immediately exercisable with respect to the full number of Shares subject to the Option for the applicable periods set forth in Section 4 below upon the following: 

(a) the Optionee’s termination of Service upon Disability; 

(b) the Optionee’s death while employed by the Trust; and 

(c) if the Optionee incurs an Involuntary Termination within the one year period commencing with a Change in Control; provided,
however, such accelerated vesting described in this Section 3(c) shall not be applicable to the Option if such Change in Control results from the Optionee’s beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of
Shares or Trust Voting Securities. 
 4. Exercise of Option Upon Termination of Service. To the extent all or any
part of the Option was not exercisable as of the date of termination of Service (after giving effect to Section 3, above), the unvested and unexercisable portion of the Option shall expire at the date of such termination of Service.
Notwithstanding anything to the contrary, if the Optionee’s termination of Service is for Cause (as defined in the Plan and any employment or other agreement with the Optionee as of the Grant Date) or the Optionee voluntarily terminates from
Service at a time when grounds for the Optionee’s termination for Cause exists, the right of the Optionee to exercise the Option shall terminate at the date of termination of Service. Subject to the preceding, the Optionee or the
Optionee’s beneficiary, as applicable, shall have the applicable period of time specified below in which to exercise the Option after the Optionee’s termination of Service; provided, however, in no event may the Option be exercised under
any circumstances later than the expiration date described in Section 2: 
 (a) General Termination of Service. Upon
the Optionee’s termination of Service for any reason other than by reason of death, Disability, Retirement (as defined below) or Involuntary Termination within the one year period commencing with a Change in Control, the Optionee shall have a
period of three (3) months [one year for Executive Officers] after such termination of Service to exercise all or any part of the Option to the extent it was exercisable at the date of termination of Service. An exercise of all or any part of
the Option more than three (3) months after termination of Service as an employee may cause any portion of the Option being exercised which was designated as an Incentive Stock Option to fail to qualify as such, in which event it shall be
deemed a Non-Qualified Share Option 
 (b) Termination of Service on Retirement. Upon the Optionee’s termination of
Service by reason of retirement on or after the Optionee turns age 65 (“Retirement”), the Optionee shall have a period of one (1) year after such termination of Service to exercise all or any part of the Option to the extent that it
was exercisable upon such termination of Service. An exercise of all or any part of the Option more than three (3) months after termination of Service as an employee may cause any portion of the Option being exercised which was designated as an
Incentive Stock Option to fail to qualify as such, in which event it shall be deemed a Non-Qualified Share Option. 
 (c)
Termination of Service on Disability. Upon the Optionee’s termination of Service by reason of Disability, the Optionee shall have a period of one (1) year after such termination of Service to exercise all or any part of the Option to
the extent that it was exercisable upon such termination of Service including as a result of Section 3 above. Unless the Optionee’s Disability qualifies as a permanent and total disability within the meaning of Section 22(e)(3) of the
Code, any exercise of all or any part of the Option more than three (3) months after termination of Service as an employee by reason of Disability may cause any portion of the Option being exercised which was designated as an Incentive Stock
Option to fail to qualify as such, in which event it shall be deemed a Non-Qualified Share Option. 
 (d) Termination of
Service on Death. In the event of the death of the Optionee, the right of the Optionee’s beneficiary to exercise the Option shall expire as follows: 

  
 Page 2 of 5

 (i) if the Optionee’s death occurs when the Optionee is employed by the Trust,
the Optionee’s beneficiary shall have a period of two (2) years after the date of the Optionee’s death to exercise all or any part of the Option to the extent that it was exercisable upon such termination of Service including as a
result of Section 3 above; 
 (ii) if the Optionee’s death occurs after the Optionee’s termination of
Service by reason of Disability or Retirement but before the expiration of one (1) year after the Optionee’s termination of Service by reason of Disability or Retirement, the one (1) year period provided for in Section 4(b)
and (c) shall be extended for an additional one (1) year period such that the Optionee’s beneficiary shall have a period of two (2) years from the date of the Optionee’s termination of Service by reason of Disability or
Retirement to exercise all or any part of the Option to the extent that it was exercisable upon such termination of Service including as a result of Section 3 above; 
 (iii) if the Optionee’s death occurs following any other termination of Service, the Optionee’s beneficiary shall have the remaining period of time specified in Section 4(a), if any,
to exercise all or any part of the Option. 
 (e) Change In Control. If the Optionee incurs an Involuntary Termination
within the one (1) year period commencing with a Change in Control, the Optionee shall have a period of one (1) year from the date of such Involuntary Termination to exercise all or any part of the Option to the extent that it was
exercisable upon such Involuntary Termination including as a result of Section 3 above. Any exercise of all or any part of the Option after an Involuntary Termination following a Change in Control more than three (3) months after
termination of Service as an employee may cause any portion of the Option being exercised which was designated as an Incentive Stock Option to fail to qualify as such in which event it shall be deemed a Non-Qualified Share Option. 

 

	 	5.	Exercise Procedures. 

 (a) Method of Exercise. To the extent vested, the Option shall be exercisable by providing written notice to the Trust and making all additional arrangements to pay the exercise price and
provide for any applicable tax withholding as provided in this Section 5. Such written notice shall set forth such information as the Trust may reasonably require from time to time which may include, without limitation: (i) the number of
Shares being purchased and whether those Shares are issuable as a result of the exercise of the Incentive Stock Option portion of the Option or the Non-Qualified Share Option portion of the Option; (ii) the total exercise price for the Shares
being purchased; and (iii) the exact name(s) as it should appear to whom the Shares are to be issued and address to which the Shares should be sent. For the exercise of the Option to be valid, such written notice must be provided to the
Secretary of the Trust and additional arrangements to pay the exercise price must be completed on or before 5:00 P.M. local time at the principal office of the Trust on the expiration date of the Option. If the written notice is not provided to the
Secretary of the Trust or the arrangements to pay the exercise price have not be completed on or before such date and time, the Option will expire and be of no further force of effect. 

(b) Payment of Exercise Price. The exercise price of Shares purchased upon exercise of the Option shall be paid in full
(a) in cash, (b) by delivery to the Trust of Shares which shall have been held by the Optionee for at least six months having, on the date of exercise, a fair market value equal to the aggregate exercise price, (c) in any combination
of cash and Shares, or (d) cash equivalents acceptable to the Trust or by payment in accordance with a broker-assisted cashless exercise program under which, if so instructed by the Optionee, Shares may be issued directly to the Optionee’s
broker or dealer against receipt of the exercise price in cash from the broker or dealer. 
 (c) Delivery of Certificate;
Registration of Shares. Subject to Section 9 hereof, either a book entry registration of the purchased Shares or certificates for the purchased Shares will be 

  
 Page 3 of 5

 
issued and delivered to the Optionee as soon as practicable after the receipt of payment of the exercise price in accordance with Section 5(b) above; provided, however, that delivery
of any such Shares shall be deemed effected for all purposes when a stock transfer agent of the Trust shall have placed such Shares into a book-entry account or deposited such certificates in the United States mail, addressed to Optionee, at the
address for the Optionee included in the Optionee’s personnel file or to such other address as Optionee may from time to time designate in a written notice to the Trust. The Optionee shall not be deemed for any purpose to be a shareholder of
the Trust in respect of any Shares as to which the Option shall not have been exercised, as herein provided, until such Shares have been issued to Optionee by the Trust hereunder. 

6. Plan Provisions Control Option Terms; Modifications. The Option is granted pursuant and subject to the terms and
conditions of the Plan, the provisions of which are incorporated herein by reference. In the event any provision of this Agreement shall conflict with any of the terms in the Plan as constituted on the Grant Date, the terms of the Plan as
constituted on the Grant Date shall control. The Trust may modify the Option after the Grant Date; provided, however, that no such modification may be made which is adverse to the Optionee without the Optionee’s express written agreement. Any
such modification shall not be inconsistent with the terms of the Plan. For purposes of this Agreement, a modification which causes an Incentive Stock Option to be a Non-Qualified Share Option shall not be treated as a modification adverse to the
Optionee. 
 7. Limitations on Transfer. Except as provided in this Section 7, the Option may not be assigned
or transferred other than by will or the laws of descent and distribution. The Optionee may transfer, in a not for value transfer, the part of this Option that is a Non-Qualified Share Option to any Family Member (as defined in the Plan). For the
purpose of this Section 7, a “not for value” transfer is a transfer which is: (a) a gift; (b) a transfer under a domestic relations order in settlement of marital property rights; or (c) a transfer to an entity in which
more than fifty percent of the voting interests are owned by Family Members (or the Optionee) in exchange for an interest in that entity. Following a transfer under this Section 7, the Option shall continue to be subject to the same terms and
conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred Options are prohibited except to Family Members of the original Optionee in accordance with this Section 7 or by will or the laws of descent and
distribution. The Optionee’s beneficiary may exercise the Optionee’s rights hereunder only to the extent they were exercisable under this Agreement at the date of the death of the Optionee and are otherwise currently exercisable.

 8. Withholding. The Trust shall be entitled to withhold (or secure payment from the Optionee in lieu of
withholding) the amount of any withholding or other tax required by law to be withheld or paid by the Trust with respect to any Shares issuable under this Agreement, and the Trust may defer issuance of Shares upon the exercise of the Option unless
the Trust is indemnified to its satisfaction against any liability for any such tax. The amount of such withholding or tax payment shall be determined by the Trust or its delegate and shall be payable by the Optionee at such time as the Trust
determines. The Optionee may satisfy his or her minimum required tax withholding obligation by the payment of cash to the Trust and/or, if so approved by the Trust, by the withholding from the Option, at the appropriate time, of a number of Shares
sufficient, based upon the Fair Market Value of such Shares, to satisfy such tax withholding requirements. The Trust shall be authorized, in its sole discretion, to establish such rules and procedures relating to any such withholding methods as it
deems necessary or appropriate, including, without limitation, rules and procedures relating to elections to have Shares withheld upon exercise of the Option to meet such withholding obligations. 

9. No Exercise in Violation of Law. Notwithstanding any of the provisions of this Agreement, the Optionee hereby agrees
that he or she will not exercise the Option granted hereby, and that the Trust will not be obligated to issue any Shares to the Optionee hereunder, if the exercise thereof or the issuance of such Shares shall constitute a violation by the Optionee
or the Trust of any provision of 

  
 Page 4 of 5

 
any law or regulation of any governmental authority. Any determination in this connection by the Committee shall be final, binding and conclusive. 

10. Taxes and Code Section 409A. Notwithstanding anything herein to the contrary, the Key Employee shall be solely
responsible and liable for the satisfaction of all taxes and penalties that may arise in connection with this Agreement (including any taxes arising under Section 409A of the Code). This Agreement is intended to be exempt from Code
Section 409A, and the Trust shall have complete discretion to interpret and construe this Agreement and any associated documents in any manner that establishes an exemption from (or otherwise conforms them to) the requirements of Code
Section 409A. If, for any reason including imprecision in drafting, the Agreement does not accurately reflect its intended establishment of an exemption from (or compliance with) Code Section 409A, as demonstrated by consistent
interpretations or other evidence of intent, the provision shall be considered ambiguous and shall be interpreted by the Trust in a fashion consistent herewith, as determined in the sole and absolute discretion of the Trust. Notwithstanding anything
to the contrary contained herein, the Trust reserves the right to unilaterally amend this Agreement without the consent of any Key Employee in order to accurately reflect its correct interpretation and operation to maintain an exemption from or
compliance with Code Section 409A. 
 IN WITNESS WHEREOF, the Trust has executed this Agreement as of the day and
year first above written. 
  

			
	FEDERAL REALTY INVESTMENT TRUST
		
	By:	 	  

		 	Dawn M. Becker
		 	 Executive Vice President-General Counsel
 and Secretary

  
 Page 5 of 5Exhibit 10.41

 Exhibit 10.41 
 FEDERAL REALTY INVESTMENT TRUST 
 RESTRICTED SHARE AWARD AGREEMENT

 February 10, 2011 
 The parties to this Restricted Share Award Agreement (this “Agreement”), which is made and entered into in Rockville, Maryland on the date specified above, are Federal Realty Investment Trust, a
Maryland real estate investment trust (the “Trust”), and                     , an individual employee of the Trust (the
“Grantee”). 
 The Board of Trustees of the Trust (the “Board of Trustees”) has authorized the award by the
Trust to the Grantee, under the Trust’s 2010 Performance Incentive Plan (the “Plan”) of a Restricted Share Award for a certain number of shares of beneficial interest of the Trust (the “Shares”), subject to certain
restrictions and covenants on the part of Grantee. The parties hereto desire to set forth in this Agreement their respective rights and obligations with respect to such Shares. 

Capitalized terms used in this Agreement, unless otherwise defined herein, have the respective meanings given to such terms in the Plan.
The terms of the Plan are incorporated by reference as if set forth herein in their entirety. To the extent this Restricted Share Award Agreement is in any way inconsistent with the Plan, the terms and provisions of the Plan shall prevail.

 In consideration of the covenants set forth in this Agreement, and intending to be legally bound hereby, the parties hereto agree as follows:

  

	 	1.	Award of Restricted Shares. 

 (a) In consideration of the Grantee’s covenants set forth in Section 5, the Trust hereby confirms the grant to the Grantee, as of February 10, 2011 (the “Grant Date”), of
                        (            ) Shares (the “Restricted
Shares”) (having a Fair Market Value equal to approximately $200,000 on the Grant Date), subject to the restrictions and other terms and conditions set forth herein and in the Plan. 

(b) On or as soon as practicable after the Grant Date, the Trust shall cause the Restricted Shares to be issued in certificated form or
by a book-entry designation for the account of Grantee . Such Restricted Shares shall be subject to such stop-transfer orders and other restrictions as the Board of Trustees or any committee thereof may deem advisable under the rules, regulations,
and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Shares are listed and any applicable federal or state securities law. 
 If the restricted Shares are issued in certificated form, the certificate or certificates representing the Restricted Shares shall be held in custody by the Chief Financial Officer of the Trust until the
Restricted Period (as hereinafter defined in Section 3) with respect thereto shall have lapsed. Restricted Shares issued by a book-entry designation shall be held in a book-entry account designated by the Trust until the restrictions provided
in this Agreement with respect thereto shall have been removed. At any time as may be requested by the Trust, if necessary to enforce the restrictions applicable to the Restricted Shares, the Grantee shall deliver to the Trust one or more undated
stock powers endorsed in blank relating to the Restricted Shares. 
  

	 	2.	Restrictions Applicable to Restricted Shares. 

 (a) Beginning on the Grant Date, the Grantee shall have all rights and privileges of a stockholder with respect to the Restricted Shares, except that the following restrictions shall apply: 

(i) none of the Restricted Shares may be assigned or transferred (other than by will or the laws of descent and
distribution, or in the Committee’s discretion, pursuant to a domestic relations 

 
order within the meaning of Rule 16a-12 of the Securities Exchange Act of 1934, as amended) during the Restricted Period (as hereinafter defined in Section 3); 

(ii) all or a portion of the Restricted Shares may be forfeited in accordance with Section 4; and 

(iii) any Shares distributed as a dividend or otherwise and any other property (other than ordinary dividends) distributed
with respect to any Restricted Shares as to which the restrictions have not yet lapsed shall be subject to the same restrictions as such Restricted Shares and shall be represented by book entry and held in the same manner as the Restricted Shares
with respect to which they were distributed. 
 (b) Any attempt to dispose of Restricted Shares in a manner contrary to the
restrictions set forth in this Agreement shall be null, void and ineffective. As the restrictions set forth in this Section 2 hereof lapse in accordance with the terms of this Agreement as to all or a portion of the Restricted Shares, such
shares shall no longer be considered Restricted Shares for purposes of this Agreement. 
  

	 	3.	Restricted Period. 

(a) The restrictions set forth in Section 2 shall apply for a period (the “Restricted Period”) from the Grant Date until
such Restricted Period lapses as follows: 
 (i) with respect to fifty percent (50%) of the Restricted
Shares, the Restricted Period shall lapse on February 10, 2015; and 
 (ii) with respect to the remaining
fifty percent (50%) of the Restricted Shares, the Restricted Period shall lapse on February 10, 2017; 
 provided, however, that the
Restricted Period for the Restricted Shares shall not lapse on either date set forth above unless the Grantee has tendered to the Trust, on or before that date, the amount of any state and federal withholding tax obligation which will be imposed on
the Trust by reason of the lapsing of the Restricted Period for such Restricted Shares on that date. 
 (b) Notwithstanding the
foregoing and subject to the proviso below, the Restricted Period shall lapse, as to all Restricted Shares, in the event there occurs a Change in Control, provided in any case that the Grantee or his legal representative shall first tender, in
accordance with Section 3(c), the amount of any state and federal withholding tax obligation which will be imposed on the Trust by reason of the lapsing of the Restricted Period for such Restricted Shares. 

(c) As soon as reasonably practicable after the Restricted Period has ended, the Trust shall notify Grantee of the amount of required
withholding taxes due on the vesting of the Restricted Shares (“Tax Notice”). Grantee shall tender to the Trust the amount specified in the Tax Notice within five (5) business days after the date of the Tax Notice, or such longer
period of time as the Trust may designate. The Trust shall not be required to remove the restrictions on such Restricted Shares until such time as the Grantee shall have paid such tax withholding amount in full. The Trust, at its sole discretion and
on such terms and conditions determined by the Trust from time to time, may permit the Grantee to satisfy the tax withholding obligations through the sale of all or a portion of such Shares resulting from this Agreement or by a return to the Trust
of a number of Shares having a Fair Market Value equal to the withholding amount due. In the event Grantee fails to make appropriate arrangement to satisfy tax and withholding obligations, the Trust may return to the Trust any Shares resulting from
this Agreement and thereby withhold from benefits payable under this Agreement or the Trust may withhold from other amounts due the Grantee and pay over to the appropriate authority, all federal, state, county, city or other taxes as shall be
required pursuant to any law or governmental regulation or ruling. 

  
 Page 2 of 5

	 	4.	Forfeiture. 

 If
there is a termination of the Grantee’s Service with the Trust for any reason, then all rights of the Grantee to any and all then-remaining Restricted Shares, after giving application to Sections 3(a) and (b), shall terminate and be
forfeited. Upon forfeiture of all or any portion of Restricted Shares, the certificate(s) representing the forfeited Restricted Shares shall be canceled or the forfeited Restricted Shares shall be removed from the Grantee’s book entry account,
returned to the Trust and canceled, as applicable. 
  

	 	5.	Confidentiality; Non-Solicitation. 

 The Grantee acknowledges that, due to his [her] long-term position as                      of the
Trust, he [she] currently possesses and, through the course of his [her] future employment at the Trust, will acquire additional secret, confidential or proprietary information, or trade secrets concerning the operations, clientele, intellectual
property, future plans, or business methods of the Trust or its Affiliates (collectively, “Confidential Information”). In addition to the other mutual covenants and agreements set forth in this Award Agreement, the Trust has provided the
Grantee with the Restricted Share Award as consideration for the Grantee’s promises, more fully described below in this Section 5, to refrain from soliciting business or employment from certain individuals with a business relationship with
the Trust or its Affiliates. The Grantee acknowledges that the terms and conditions of this Agreement, including his [her] receipt of Restricted Shares valued at approximately two hundred thousand dollars ($200,000) protect him [her] against any
undue hardship as a result of the enforcement of any and all terms of this Section 5, in full accordance with the provisions set forth below. 
 (a) Nondisclosure of Confidential Information. The Grantee acknowledges and reaffirms that the Grantee will comply with the terms of the confidentiality letter executed by the Grantee upon
commencement of his [her] employment with the Trust. Without limiting the provisions of the confidentiality letter, the Grantee promises not to use or disclose any Confidential Information before it has become generally known within the relevant
industry through no fault of the Grantee. The Grantee also agrees that this promise will remain in effect following his [her] termination of employment with the Trust for any reason. 

(b) Non-Solicitation. For the reasons set forth above in this Section 5, the Grantee agrees that: 

(i) For a period of one (1) year following the termination of the Grantee’s employment for any reason, whether
voluntary or involuntary, he [she] will not, at any time or for any reason, acting alone or with or on behalf of any Person, whether as principal, director, partner, agent, employee, consultant or otherwise, directly or indirectly: 

(A) Solicit, induce, or entice any client, customer, contractor, tenant, licensor, supplier, partner, or other business
relationship of the Trust or any of its Affiliates to terminate, renegotiate, or otherwise cease or modify its relationship with the Trust or its Affiliates. 
 (B) Solicit the employment or engagement of any person currently (and for a period of one year prior to the Grantee’s termination of employment) employed by the Trust or any of its Affiliates,
whether or not such person would commit any breach of a contract by reason of his [her] leaving the service of the Trust. 
 (ii) During the Grantee’s employment with the Trust and at all times following his [her] termination from employment for any reason, he [she] is prohibited, at any time or for any reason,

  
 Page 3 of 5

 
from using the Trust’s Confidential Information or any other unlawful means to directly or indirectly solicit, induce, or entice any client, customer, contractor, tenant, licensor, supplier,
partner, or other business relationship of the Trust or any of its Affiliates to terminate, renegotiate, or otherwise cease or modify its relationship with the Trust or its Affiliates. 

(d) Reasonableness of Provisions. The Grantee agrees that the covenants contained in this Section 5 are reasonably tailored
to protect the Trust’s Confidential Information and business interests and to ensure that he [she] does not violate his [her] duty of loyalty or his fiduciary duties to the Trust, and are reasonable in all circumstances in scope, duration, and
all other respects. The provisions of this Section 5 will survive the expiration or earlier termination of this Agreement. 

(e) Remedies; Equitable Relief. The Grantee agrees that the Trust would be irreparably harmed if the Grantee (i) used or
disclosed Confidential Information without the Trust’s express authorization or (ii) took any action or participated in any activity contrary to the terms set forth above during or after termination of his [her] employment with the Trust.
The Grantee expressly agrees that the Trust will be entitled, in addition to damages and any other remedies provided by law, to an injunction or other equitable remedy respecting such violation or continued violation by the Grantee of the promises
set forth in this Section 5. 
 (f) Importance of Enforcement. The Grantee recognizes and agrees that the covenants
set forth in this Section 5 are the essential consideration for this Agreement, and that the invalidation of any provision of this Section 5 by a court of competent jurisdiction shall (i) represent a failure of the consideration on
which this Agreement is based, and therefore (ii) result in the Grantee’s forfeiture of any Restricted Shares and any vested shares of the Trust (or proceeds thereof) that he [she] receives pursuant to this Agreement. Such forfeiture shall
not prejudice the Company’s right to enforce this Section 5, to the extent it is enforceable by law. 
 (g)
Relationship to Other Agreements. The provisions in this Section 5 shall supersede and control in all respects the provisions of any other agreement previously entered into between the Trust and Grantee, including without limitation, any
Severance Agreement. 
  

	 	6.	Effect on Other Agreements and Arrangements. 

 Unless otherwise expressly set forth herein, this Agreement shall not affect or supersede any severance or Change in Control agreement or arrangement previously entered into between the Grantee and the
Trust. 
  

	 	7.	Assignment. 

 This Agreement shall
be binding upon and inure to the benefit of the heirs and representatives of the Grantee and the assigns and successors of the Trust, but neither this Agreement nor any rights hereunder shall be assignable or otherwise subject to hypothecation by
the Grantee. 
  

	 	8.	Entire Agreement; Amendment. 

 This
Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and shall supersede all prior agreements and understandings, oral or written, between the parties with respect thereto. This Agreement may be amended
at any time by written agreement of the parties hereto. 
  

	 	9.	Governing Law. 

  
 Page 4 of 5

 This Agreement and its validity, interpretation, performance and enforcement shall be governed by the laws
of the State of Maryland other than the conflict of laws provisions of such laws, and shall be construed in accordance therewith. 
  

	 	10.	Severability. 

 If, for any reason,
any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not so held invalid, and each such other provision shall to the full extent consistent with law continue in full force and
effect. If any provision of this Agreement shall be held invalid in part, such invalidity shall in no way affect the rest of such provision not held so invalid, and the rest of such provision, together with all other provisions of this Agreement,
shall to the full extent consistent with law continue in full force and effect. 
  

	 	11.	Continued Employment. 

 This
Agreement shall not confer upon the Grantee any right with respect to continuance of employment by the Trust. 
  

	 	12.	Certain References. 

 References to
the Grantee in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the Grantee’s executors or the administrators, or the person or persons to whom all or any portion of the
Restricted Shares may be transferred by will or the laws of descent and distribution, shall be deemed to include such person or persons. 
  

	 	13.	Section 83(b) Election. 

 The
Grantee acknowledges that it is the Grantee’s sole responsibility, and not the Trust’s, to file a timely election under section 83(b) of the Internal Revenue Code, of 1986, as amended. The Grantee acknowledges that he or she is relying on
his or her own advisors with respect to the decision as to whether or not to file any section 83(b) election. 
  

	 	14.	Taxes. 

 Notwithstanding anything
herein to the contrary, Grantee shall be solely responsible and liable for the satisfaction of all taxes and penalties that may arise in connection with this Agreement (including any taxes arising under Section 409A of the Code). 

IN WITNESS WHEREOF, the Trust has caused this Agreement to be duly executed and the Grantee has hereunto set his hand effective as of the day and year
first above written. 
  

							
		  		  	FEDERAL REALTY INVESTMENT TRUST
				
		  		  	By:	 	  

		  		  	Name:	 	Donald C. Wood
		  		  	Title:	 	President and Chief Executive Officer
			
	WITNESS:	  		  	GRANTEE
				
	  
	  		  	By:	 	  

		  		  	Name:	 	  

  
 Page 5 of 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}]]