Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”),
effective as of the first day of September, 2008 (the “Effective Date), is entered into by and among Thomas Properties Group, Inc., a Delaware corporation (“TPG”), Thomas Properties Group, LP., a Maryland limited
partnership (the “Operating Partnership”) (TPG and the Operating Partnership are collectively referred to herein as the “Company”) and Paul S. Rutter (the “Executive”). 
 WHEREAS, the Company desires to employ Executive and Executive desires to accept employment with the Company, on the terms and conditions of this
Agreement. 
 NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 
 1. Employment Period. Subject to the provisions for earlier termination hereinafter provided, the Executive’s employment hereunder shall be for a term (the “Employment Period”) commencing
on the Effective Date and ending on the third anniversary of the Effective Date (the “Initial Termination Date”); provided, however, that this Agreement shall be automatically extended for one additional year on the
Initial Termination Date and on each subsequent anniversary of the Initial Termination Date, unless either the Executive or the Company elects not to so extend the term of the Agreement by notifying the other party, in writing, of such election not
less than sixty (60) days prior to the last day of the term as then in effect. 
 2. Terms of Employment. 
 (a) Position and Duties. 
 (i) During
the Employment Period, the Executive shall serve as Executive Vice President and General Counsel of TPG and the Operating Partnership and shall perform such employment duties as are usual and customary for such positions. During the Employment
Period, the Executive shall be a member of the Executive Management Committee of the Company, which shall consist of the Chief Executive Officer and the Executive Vice Presidents of the Company and the Chief Financial Officer, and the Executive
shall report directly at all times to the Chief Executive Officer. The Executive Management Committee shall, as a group, review and consider all major business policies, strategies and initiatives of the Company and its affiliates. The Executive
shall be officed at the Company’s main headquarters offices in Los Angeles, California, provided, however, that the Executive understands that travel will be a required component of the position, and the Executive may from time to time work
from the Company’s other offices. At the Company’s request, the Executive shall serve the Company and/or its subsidiaries and affiliates in other positions and capacities in addition to the foregoing. In the event that the Executive,
during the Employment Period, serves in any one or more of such additional capacities, the Executive’s compensation shall not be increased beyond that specified in Section 2(b) of this Agreement. In addition, in the event the
Executive’s service in one or more of such additional capacities is subsequently terminated, the Executive’s compensation, as specified in Section 2(b) of this Agreement, shall not be diminished or reduced in any manner as a
result of such termination for so long as the Executive otherwise remains employed under the terms of this Agreement. 
  

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 (ii) During the Employment Period, and excluding any periods of vacation and sick leave to which the
Executive is entitled, the Executive agrees to devote substantially all of his business time, energy, skill and best efforts to the performance of his duties hereunder in a manner that will faithfully and diligently further the business and
interests of the Company. Notwithstanding the foregoing, during the Employment Period it shall not be a violation of this Agreement for the Executive to (A) serve on civic, charitable or other boards or committees, provided, however, that the
Executive will consult with the Chief Executive Officer prior to accepting a position on the board of any publicly traded company, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions or (C) manage his
personal investments, so long as such activities do not materially interfere with the performance of the Executive’s responsibilities as an executive officer of the Company. It is expressly understood and agreed that to the extent that any such
activities have been conducted by the Executive prior to the Effective Date and fully disclosed in writing and agreed to by the Company in writing the continued conduct of such activities (or the conduct of activities similar in nature and scope
thereto) subsequent to the Effective Date shall not thereafter be deemed to interfere with the performance of the Executive’s responsibilities to the Company; provided that no such activity shall be permitted that violates any written
non-competition agreement between the parties or prevents the Executive from devoting substantially all of his business time to the fulfillment of his duties hereunder. 
 (iii) The Executive agrees that he will not take personal advantage of any business opportunity that arises during his employment by the Company and which may be of benefit to the Company unless all material facts
regarding such opportunity are promptly reported by the Executive to the Board of Directors of TPG (the “Board”) for consideration by the Company and the disinterested members of the Board determine to reject the opportunity and to
approve the Executive’s participation therein. 
 (b) Compensation; Benefits, Equity Grants. 
 (i) Base Salary. During the Employment Period, the Executive shall receive a base salary (the “Base Salary”) of $375,000 per
annum, as the same may be increased thereafter (or thereafter decreased, but not below the initial Base Salary) pursuant to the Company’s normal practices for its executives. The Base Salary shall be paid at such intervals as the Company pays
executive salaries generally. During the Employment Period, the Base Salary shall be reviewed at least annually for possible increase (or decrease, not below the initial Base Salary) in the Company’s sole discretion, as determined by the
Company’s compensation committee. Any increase in Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. The term “Base Salary” as utilized in this Agreement shall refer to Base
Salary as so adjusted. 
 (ii) Annual Bonus. In addition to the Base Salary, the Executive shall be eligible to earn, for each fiscal
year of the Company ending during the Employment Period, an annual cash performance bonus (an “Annual Bonus”). The amount of the Annual Bonus and the target performance goals applicable to the Annual Bonus shall be determined in
accordance with the terms and conditions of said bonus plan as in effect from time to time; provided that Executive’s target for each annual bonus hereunder shall be 100% of Base Salary for that year, and his maximum Annual Bonus shall be 150%
of Base Salary for that year, with the additional 50% being for extraordinary performance. The terms and conditions of any such bonus plan shall be determined by the Company’s compensation committee of the Board in its sole discretion.

  

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 (iii) Incentive Awards. Subject to the terms of the Thomas Properties Group, Inc. 2004 Equity
Incentive Plan, as amended (the “Plan”) and the Policy Regarding Equity Grants to Executive Officers, adopted by the Compensation Committee of the Board effective as of June 10, 2008 (“Policy”), as the same may
be amended from time to time, the Operating Partnership shall, effective as of the Effective Date, grant to the Executive One Hundred Ten Thousand (110,000) Incentive Units (as such term is defined in the Plan) (“Initial Incentive
Units”). In addition to the Initial Incentive Units, the Company will annually, during the Employment Period, consider at such time as compensation reviews are performed for executive officers of the Company in the ordinary course
(commencing in the first quarter of 2009), the grant to the Executive of additional Incentive Units, in an amount determined at the discretion of the Compensation Committee of the Board based on the expected contributions of Executive to the
Company. The target annual Incentive Unit award for Executive shall be 100,000 Incentive Units (the “Annual Incentive Unit Target”). The Initial Incentive Units shall vest as follows: 
 (A) Subject to the Executive’s continued employment with the Company, fifty percent (50%) of such Incentive Units
(“Performance Vested Units”) shall vest as follows: 
 (1) On each of the first three (3) anniversaries
of the date of such grant (“Anniversary Date”), the Executive shall vest in a percentage of the Performance Vested Units determined by multiplying thirty-three and one-third percent (33.33%) by a fraction, (a) the
numerator of which is equal to the annual total stockholder return (stock price plus dividends) for TPG during the 12-month period immediately preceding such Anniversary Date (each such annual return, an “Annual Return”), provided
that any negative Annual Return shall be expressed in the numerator as zero percent (0%) and provided further that the numerator shall not exceed twelve percent (12%) (such percent, the “Threshold Percent”), and (b) the
denominator of which is equal to the Threshold Percent, with the resulting product rounded to the nearest whole percent; and 
 (2) If (a) on any Anniversary Date pursuant to Section 2 (b)(iii)(A)(1) of this Agreement, or on either of the fourth or fifth anniversary of the date of the grant of the Performance Vested Units (any such Anniversary Date,
a “Makeup Anniversary Date”), the Annual Return as of such Makeup Anniversary Date exceeds the Threshold Percent, and (b) the Executive vested in less than thirty-three and one-third percent (33.33%) of the Performance
Vested Units pursuant to Section 2(b)(iii)(A)(1) of this Agreement on any of the first through third Anniversary Dates prior to such Makeup Anniversary Date, then the Executive shall vest in an additional percentage of the Performance
Vested Units on such Makeup Anniversary Date (such additional percentage, the “Makeup Percentage”), with such Makeup Percentage being an amount equal to the difference between (i) 33.33% times the number of preceding
Anniversary Dates (not to exceed 100%), less (ii) the percentage of the Performance Vested Units in which the Executive has vested immediately prior to such Makeup Anniversary Date. 
  

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 (B) Subject to Executive’s continued employment with the Company, the remaining
fifty percent (50%) of such Incentive Units (the “Discretionary Vested Units”) shall vest as follows: 
 (1) Sixty percent (60%) of the Discretionary Vested Units (the “Discretionary Performance Vested Units”) shall vest as follows: up to thirty-three and one-third percent (33.33%) of the Discretionary Performance
Vested Units shall vest on each Anniversary Date, subject to the achievement of individual and company goals (“Performance Goals”) for the 12-month period immediately preceding each such Anniversary Date, as determined by the
Compensation Committee in its sole discretion, provided that if the Executive vests in less than thirty-three and one-third percent (33.33%) of the Discretionary Performance Vested Units on any Anniversary Date, the Compensation Committee may
allow the Performance Goals for the 12-month period immediately preceding such Anniversary Date to be carried forward to a future period or periods so that the Executive has an opportunity to vest in all or a portion of such unvested percentage on
one or more future Anniversary Dates. 
 (2) The remaining forty percent (40%) of the Discretionary Vested Units (the
“Committee Discretionary Vested Units”) shall vest as follows: up to thirty-three and one-third percent (33.33%) of the Committee Discretionary Vested Units shall vest on each Anniversary Date as determined by the Compensation
Committee in its sole discretion, provided that if the Executive vests in less than thirty-three and one-third percent (33.33%) of the Committee Discretionary Vested Units on any Anniversary Date, the Executive may vest in all or a portion of
such unvested percentage on any future Anniversary Date, as determined by the Compensation Committee in its sole discretion. 
 Notwithstanding any other provisions of this Agreement, in the event the Executive does not receive additional grants of Incentive Units (in addition to the Initial Incentive Units) during the first two years of the
Employment Period, which as of the second anniversary of the Effective Date total no less than Two Hundred Thousand (200,000) Incentive Units, then following the second (2nd) anniversary of the Effective Date, Executive may elect, by notice to the Company no more than 30 days following the second anniversary of the Effective Date, to terminate this Agreement with 60 days prior
notice, in which case all of the Initial Incentive Units granted to Executive that have not otherwise vested under this Agreement will vest on the effective date of such termination; provided, however, if the Company is prohibited by the Plan or
Policy, as amended, from having such unvested Incentive Units vest on such termination date, then the Company will pay the Executive on the date of such termination a cash payment equal to the value of the Incentive Units that would otherwise have
vested on such date, which value shall be determined by multiplying the number of Incentive Units that would have vested by the closing price of the publicly traded shares of TPG on the day immediately preceding such termination date. 
  

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 (iv) Incentive, Savings and Retirement Plans. During the Employment Period, the Executive shall
be eligible to participate in all other incentive plans, policies and programs, and all savings and retirement plans, policies and programs, in each case that are applicable generally to senior executives of the Company. 
 (v) Welfare Benefit Plans. During the Employment Period, the Executive and the Executive’s eligible family members shall be eligible for
participation in the welfare benefit plans, practices, policies and programs (including, if applicable, medical, dental, disability, employee life, group life and accidental death insurance plans and programs) maintained by the Company for its
senior executives. 
 (vi) Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement
for all reasonable business expenses incurred by the Executive in accordance with the policies, practices and procedures of the Company provided to senior executives of the Company. 
 (vii) Fringe Benefits. During the Employment Period, the Executive shall be entitled to such fringe benefits and perquisites as are provided by
the Company to its senior executives from time to time, in accordance with the policies, practices and procedures of the Company. 
 (viii)
Vacation. During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the plans, policies, programs and practices of the Company applicable to its senior executives. 
 (ix) Indemnification Agreement. The parties acknowledge that in connection with the execution of this Agreement, they are entering into an
Indemnification Agreement (“Indemnification Agreement”) which shall be effective as of the Effective Date. 
 3.
Termination of Employment. Subject to the provisions of this Section 3, the Executive’s employment shall be deemed terminated for purposes of this Agreement when the Executive incurs a “separation from service” (as
such phrase is defined in Section 409A) with the Company or any of its affiliates because of death, disability or termination of employment for any other reason, including any reason specified in Section 3(a), (b), (c) or
(d) below (such date, the “Date of Termination”); provided, however, that except with respect to the Company’s obligation to pay any Accrued Obligations and/or Other Benefits (each, as defined below) in accordance with
California law, no termination shall be deemed to occur for purposes of the Agreement while the Executive continues to perform services for the Company or any of its affiliates in a capacity as an employee or as an independent contractor at a level
that is at least equal to 20% of the average level of bona fide services performed (whether as an employee or otherwise) by the Executive during the immediately preceding 36-month period (or, if employed less than 36 months, such lesser period).

 (a) Death. The Executive’s employment will terminate automatically upon the Executive’s death. 
 (b) Disability. To the extent consistent with federal and state law, Executive’s employment may be terminated if Executive suffers a
Disability. For purposes of this Agreement, 

  

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“Disability” means a physical or mental illness which renders Executive unable to perform his essential duties for 90 consecutive days or a
total of 180 days in any 12 month period even with reasonable accommodations, or unable to perform those duties in a manner that would not endanger his health or safety or the health or safety of others even with reasonable accommodations. The
existence of a Disability shall be determined through the reasonable opinion of an independent physician selected by the Company or its insurers and reasonably acceptable to the Executive or the Executive’s legal representative. The Company is
not, however, required to make unreasonable accommodations for Executive or accommodations that would create an undue hardship on the Company. 
 (c) Cause. The Company may terminate the Executive’s employment during the Employment Period for Cause or without Cause. For purposes of this Agreement, “Cause” shall mean the occurrence of any one or more of the
following events: 
 (i) The Executive’s willful failure to perform or gross negligence in performing his duties owed to the Company
(other than such failure resulting from Executive’s incapacity due to physical or mental illness or any such actual or anticipated failure after his issuance of a Notice of Termination for Good Reason), which continues after ten (10) days
following a written notice is delivered to the Executive by the Board, which notice specifies such failure or gross negligence; 
 (ii) The
Executive’s commission of an act of fraud or dishonesty in the performance of his duties; 
 (iii) The Executive’s conviction of,
or entry by the Executive of a guilty or no contest plea to, any felony or any felony or misdemeanor involving moral turpitude; 
 (iv) Any
breach by the Executive of his fiduciary duty or duty of loyalty to the Company; or 
 (v) The Executive’s material breach of any of
the provisions of this Agreement or of the Non-Competition Agreement, which is not cured within ten (10) days following written notice thereof from the Company. 
 In determining whether Cause exists to terminate the Executive, the Board shall consider whether any act or failure to act by the Executive was taken based either upon the authority given pursuant to a duly adopted
resolution of the Board or upon the written advice of counsel to the Company, in each case provided after full and correct disclosure to the Board or such counsel, as applicable, of all material facts pertaining to the subject matter upon which such
authority or advice was given. 
 (d) Good Reason. The Executive’s employment may be terminated by the Executive for Good Reason
or by the Executive without Good Reason. For purposes of this Agreement, “Good Reason” shall mean the occurrence of any one or more of the following events without the Executive’s prior written consent, provided that the
Executive terminates his employment within one-hundred and eighty (180) days following the lapse of the Company’s cure period described below as to one or more of such events and unless the Company fully corrects the circumstances
constituting Good Reason (provided such circumstances are capable of correction) prior to the Date of Termination: 
  

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 (i) The Company’s reduction of the Executive’s annual base salary below the initial Base
Salary or reduction in the Executive’s target annual bonus. 
 (ii) The assignment to Executive of duties materially inconsistent with
the Executive’s position, authority, duties or responsibilities as contemplated by Section 2(a) or other action by the Company which materially diminishes such position, authority, duties or responsibilities, excluding for this
purpose isolated, insubstantial or inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof from Executive. 
 (iii) Relocation of the Company’s offices at which Executive is principally employed to a location outside Los Angeles County, or requiring
Executive to be based at a location more than 50 miles from the Company’s principal office in Los Angeles. 
 (iv) The failure of a
successor to the Company to either assume and agree to perform the obligations of Company hereunder or replace this Agreement with an employment contract of substantially similar terms and no less favorable than those terms provided to an acquiring
company’s executive officers. 
 (v) The Company’s material breach of its obligations under the Agreement. 
 Notwithstanding any other provision of this Section 3(d), the occurrence of any event described in Section 3(d)(i) or
(v) shall constitute Good Reason only if (x) the Executive provides written notice to the Company of the occurrence of such event within ninety (90) days of the initial occurrence of such event and (y) the Company fails to
remedy the event described in the Executive’s written notice within thirty (30) days of the Company’s receipt of such notice. 
 (e) Notice of Termination. Any termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by Notice of Termination to the other parties hereto given in accordance with
Section 10(c) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon,
(ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated and (iii) if the Date of Termination
is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice). The failure by the Executive or the Company to set forth in the Notice of Termination
any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting such fact or
circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
  

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 4. Obligations of the Company Upon Termination. 
 (a) Without Cause or For Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment without Cause
or the Executive shall terminate his employment for Good Reason, then the Executive will receive those payments and benefits set forth below. The timing of the payments hereunder is subject to Section 10(e) hereof: 
 (i) The Executive shall be paid, in two lump sum payments (A) the Executive’s earned but unpaid Base Salary and accrued but unpaid vacation pay
through the Date of Termination, and any Annual Bonus required to be paid to the Executive pursuant to Section 2(b)(ii) above for any fiscal year of the Company that ends on or before the Date of Termination to the extent not previously
paid (the “Accrued Obligations”), and (B) an amount (the “Severance Amount”) equal to two (2) (the “Severance Multiple”) times the sum of (x) the Base Salary in effect on the Date of
Termination plus (y) the average Annual Bonus received by the Executive for the three complete fiscal years (or such lesser number of years as the Executive has been employed by the Company) of the Company immediately prior to the Date of
Termination; provided, however, if less than one (1) year remains in the Employment Period after the Date of Termination, the Severance Multiple shall equal one (1); provided, further, that the Accrued Obligations shall be paid
when due under California law and the Severance Amount shall be paid no later than 60 days after the Date of Termination; 
 (ii) At the
time when annual bonuses are paid to the Company’s other senior executives for the fiscal year of the Company in which the Date of Termination occurs, the Executive shall be paid an Annual Bonus in an amount equal to the product of (x) the
amount of the Annual Bonus to which the Executive would have been entitled if the Executive’s employment had not been terminated, and (y) a fraction, the numerator of which is the number of days in such fiscal year through the Date of
Termination and the denominator of which is the total number of days in such fiscal year (a “Pro-Rated Annual Bonus”); 
 (iii) If Executive (or any of Executive’s qualified beneficiaries) makes a timely election to continue to participate in the Company’s group health plans (medical, dental, and vision) pursuant to 29 U.S.C. §§ 1161-1169
(“COBRA”), the Company shall pay the premium for such coverage (which premium payment shall be taxable to Executive if the Company’s group health plans are self-insured) starting on the Date of Termination and ending on the earliest
of (A) the date that is one (1) year after the Date of Termination, or (B) the date on which Executive no longer is eligible to continue to participate under COBRA. For purposes of the foregoing, the usual limitations of COBRA shall
apply and the Company’s payment of the COBRA premium(s) shall not extend the continuation period, which begins on the Date of Termination; 
 (iv) Any unvested Incentive Units shall become immediately vested in full; and 
 (v) To the extent not theretofore paid or
provided, the Company shall timely pay or provide to the Executive any vested benefits and other amounts or benefits required to be paid or provided or which the Executive is eligible to receive as of the Date of Termination under any plan, contract
or agreement of the Company and its affiliates (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”) to which the Executive is a party. 
 Notwithstanding anything to the contrary in this Section 4, it shall be a condition to the Executive’s right to receive the amounts
provided for in Sections 4(a)(i)(B) and 4(a)(ii) and (iii) above that the Executive execute, deliver to the Company and not revoke a release of claims in substantially the form attached hereto as Exhibit A. 
  

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 (b) For Cause or Without Good Reason. If the Executive’s employment shall be terminated by
the Company for Cause or by the Executive without Good Reason during the Employment Period, the Company shall have no further obligations to the Executive under this Agreement other than pursuant to Sections 6 and 7 hereof, and the obligation
to pay to the Executive the Accrued Obligations when due under California law and to provide the Other Benefits. 
 (c) Death or
Disability. If the Executive’s employment is terminated by reason of the Executive’s death or Disability during the Employment Period: 
 (i) The Accrued Obligations shall be paid to the Executive’s estate or beneficiaries or to the Executive, as applicable, in a lump-sum cash payment when due under California law (not to exceed 60 days after the
Date of Termination); 
 (ii) 100% of the Executive’s then current annual Base Salary, as in effect on the Date of Termination, shall
be paid to the Executive’s estate or beneficiaries or the Executive, as applicable, in a lump-sum cash payment within 60 days following the Date of Termination; 
 (iii) The Pro-Rated Annual Bonus shall be paid to the Executive’s estate or beneficiaries or to the Executive, as applicable, at the time when annual bonuses are paid to the Company’s other senior executives
for the fiscal year of the Company in which the Date of Termination occurs; 
 (iv) If any of Executive’s qualified beneficiaries makes
a timely election to continue to participate in the Company’s group health plans (medical, dental, and vision) pursuant to COBRA, the Company shall pay the premium for such coverage (which premium payment shall be taxable to Executive if the
Company’s group health plans are self-insured) starting on the Date of Termination and ending on the earliest of (A) the date that is one (1) year after the Date of Termination, or (B) the date on which Executive’s qualified
beneficiary no longer is eligible to continue to participate under COBRA. For purposes of the foregoing, the usual limitations of COBRA shall apply and the Company’s payment of the COBRA premium(s) shall not extend the continuation period,
which begins on the Date of Termination; and 
 (v) The Other Benefits shall be paid or provided to the Executive’s estate or
beneficiaries or to the Executive, as applicable, on a timely basis. 
 Notwithstanding anything to the contrary in this
Section 4(c), in the event Executive’s employment is terminated by reason of Disability, the amount described in Section 4(c)(ii) shall be paid to Executive no later than March 15th of the calendar year immediately
following the calendar year in which the Executive suffers such Disability. 
 5. Termination Upon a Change in Control. If a Change in
Control (as defined herein) occurs during the Employment Period and the Executive’s employment is terminated (a) by the Company without Cause or by the Executive for Good Reason, in each case within one hundred eighty (180) days after
the effective date of the Change in Control, or (b) provided the Executive remains continuously employed by the Company through the one year anniversary of the effective 

  

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date of the Change in Control (the “CIC Anniversary”), which change in control results in a change in the CEO, by the Executive for any
reason on or within 30 days after the CIC Anniversary (a “Change in Control Resignation”) then the Executive shall be entitled to the payments and benefits provided in Section 4(a), subject to the terms and conditions
thereof, and in the case of a Change in Control Resignation, the Severance Amount and the Pro-Rated Annual Bonus shall be paid to Executive no later than the later of (a) the 15th day of the third month following the Company’s taxable year in which the CIC Anniversary occurs and (b) the 15th
 day of the third month following the Executive’s taxable year in which the CIC Anniversary occurs. The timing of the foregoing payments is subject to Section 10(e) hereof. In addition,
in the event of such a termination of the Executive’s employment, all outstanding stock options, Incentive Units, restricted stock and other equity awards granted to the Executive under any of the Company’s equity incentive plans (or
awards substituted therefor covering the securities of a successor company) shall become immediately vested and exercisable in full. For purposes of this Agreement, “Change in Control” shall mean the occurrence of any of the
following events: 
 (i) Any transaction, whether effected directly or indirectly, resulting in any “person” or “group”
(as those terms are defined in Sections 3(a)(9), 13(d), and 14(d) of the Exchange Act and the rules thereunder) having “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to
vote generally in the election of directors (“voting securities”) of TPG that represent greater than 35% of the combined voting power of TPG’s then outstanding voting securities, other than 
 (A) any transaction or event resulting in the beneficial ownership of voting securities by a trustee or other fiduciary holding securities
under any employee benefit plan (or related trust) sponsored or maintained by TPG or any person controlled by TPG or by any employee benefit plan (or related trust) sponsored or maintained by TPG or any person controlled by TPG, or 
 (B) any transaction or event resulting in the beneficial ownership of voting securities by TPG or a corporation owned, directly or
indirectly, by the stockholders of TPG in substantially the same proportions as their ownership of the stock of TPG, or 
 (C)
any transaction or event resulting in the beneficial ownership of voting securities pursuant to a transaction described in clause (iii) below that would not be a Change in Control under clause (iii), or 
 (D) the beneficial ownership of voting securities by James A. Thomas, or an Immediate Family Member or Affiliate thereof, each as defined
in the Operating Partnership Agreement (collectively, the “Thomas Affiliates”), including without limitation, the initial issuance of shares and Partnership Units in the Operating Partnership, the conversion of Partnership Units to
shares of TPG, and any additional Partnership Units and shares later received by the Thomas Affiliates; 
 (ii) Individuals who, as of the
Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof
whose election by 

  

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TPG’s stockholders, or nomination for election by the Board, was approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an election contest with respect to the
election or removal of directors or other solicitation of proxies or consents by or on behalf of a person other than the Board; 
 (iii) The
consummation by TPG (whether directly involving TPG or indirectly involving TPG through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or
substantially all of TPG’s assets or (z) the acquisition of assets or stock of another entity, in each case, other than a transaction 
 (A) which results in TPG’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of TPG or the
person that, as a result of the transaction, controls, directly or indirectly, TPG or owns, directly or indirectly, all or substantially all of TPG’s assets or otherwise succeeds to the business of TPG (TPG or such person, the
“Successor Entity”)) directly or indirectly, greater than 50% of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 
 (B) after which no person or group beneficially owns voting securities representing greater than 50% of the combined voting power of the
Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (B) as beneficially owning greater than 50% of combined voting power of the Successor Entity solely as a result of the
voting power held in TPG prior to the consummation of the transaction; or 
 (iv) the approval by TPG’s shareholders of a liquidation
or dissolution of TPG. 
 For purposes of clause (i) above, the calculation of voting power shall be made as if the date of the
acquisition were a record date for a vote of TPG’s shareholders, and for purposes of clause (iii) above, the calculation of voting power shall be made as if the date of the consummation of the transaction were a record date for a vote of
TPG’s shareholders. 
 6. Full Settlement. In no event shall the Executive be obligated to seek other employment or take any
other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and except as expressly provided, such amounts shall not be reduced whether or not the Executive obtains other employment. If any
party to this Agreement institutes any action, suit, counterclaim, appeal, arbitration or mediation for any relief against another party, declaratory or otherwise (collectively an “Action”), to enforce the terms hereof or to declare
rights hereunder, then the Prevailing Party in such Action shall be entitled to recover from the other party all costs and expenses of the Action, including reasonable attorneys’ fees and costs (at the Prevailing Party’s attorneys’
then-prevailing rates) incurred in bringing and prosecuting or defending such Action and/or enforcing any judgment, order, ruling or award 

  

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(collectively, a “Decision”) granted therein, all of which shall be deemed to have accrued on the commencement of such Action and shall be
paid whether or not such Action is prosecuted to a Decision. Any Decision entered in such Action shall contain a specific provision providing for the recovery of attorneys’ fees and costs incurred in enforcing such Decision. A court or
arbitrator shall fix the amount of reasonable attorneys’ fees and costs upon the request of either party. Any judgment or order entered in any final judgment shall contain a specific provision providing for the recovery of all costs and
expenses of suit, including reasonable attorneys’ fees and expert fees and costs incurred in enforcing, perfecting and executing such judgment. For the purposes of this paragraph, costs shall include, without limitation, in addition to costs
incurred in prosecution or defense of the underlying action, reasonable attorneys’ fees, costs, expenses and expert fees and costs incurred in the following: (a) post-judgment motions and collection actions; (b) contempt proceedings;
(c) garnishment, levy, debtor and third party examinations; (d) discovery; (e) bankruptcy litigation; and (f) appeals of any order or judgment. “Prevailing Party” within the meaning of this Section includes,
without limitation, a party who agrees to dismiss an Action (excluding an Action instituted in contravention of the requirements of Paragraph 10(b) below) in consideration for the other party’s payment of the amounts allegedly due or
performance of the covenants allegedly breached, or obtains substantially the relief sought by such party. 
 7. Certain Additional
Payments by the Company. 
 (a) Anything in this Agreement to the contrary notwithstanding and except as set forth below, in the event it
shall be determined that any Payment would be subject to the Excise Tax, then the Executive shall be entitled to receive an additional payment (the “Excise Tax Gross-Up Payment”) in an amount such that, after payment by the
Executive of all taxes (and any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Excise Tax
Gross-Up Payment, the Executive retains an amount of the Excise Tax Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 7(a), if it shall be determined that the
Executive is entitled to the Excise Tax Gross-Up Payment, but that the Parachute Value of all Payments does not exceed 110% of the Safe Harbor Amount, then no Excise Tax Gross-Up Payment shall be made to the Executive and the amounts payable under
this Agreement shall be reduced so that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount. The reduction of the amounts payable hereunder, if applicable, shall be made by first reducing the payments under
Section 4(a)(i), unless an alternative method of reduction is elected by the Executive, and in any event shall be made in such a manner as to maximize the Value of all Payments actually made to the Executive. For purposes of reducing the
Payments to the Safe Harbor Amount, only amounts payable under this Agreement (and no other Payments) shall be reduced. If the reduction of the amount payable under this Agreement would not result in a reduction of the Parachute Value of all
Payments to the Safe Harbor Amount, no amounts payable under the Agreement shall be reduced pursuant to this Section 7(a). The Company’s obligation to make Excise Tax Gross-Up Payments under this Section 7 shall not be
conditioned upon the Executive’s termination of employment. 
 (b) Subject to the provisions of Section 7(c), all
determinations required to be made under this Section 7, including whether and when an Excise Tax Gross-Up Payment is required, the amount of such Excise Tax Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, shall be made by such nationally recognized accounting firm as 

  

 -12- 

 
may be selected by the Company and reasonably acceptable to the Executive (the “Accounting Firm”); provided, that the Accounting
Firm’s determination shall be made based upon “substantial authority” within the meaning of Section 6662 of the Code. The Accounting Firm shall provide detailed supporting calculations both to the Company and the Executive within
15 business days of the receipt of notice from the Executive that there has been a Payment or such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Excise Tax
Gross-Up Payment, as determined pursuant to this Section 7, shall be paid by the Company to the Executive within five days of the receipt of the Accounting Firm’s determination. Any determination by the Accounting Firm shall be
binding upon the Company and the Executive, unless the Company obtains an opinion of outside legal counsel, based upon at least “substantial authority” within the meaning of Section 6662 of the Code, reaching a different
determination, in which event such legal opinion shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Excise Tax Gross-Up Payments that will not have been made by the Company should have been made (the “Underpayment”), consistent with the calculations required to be made hereunder. In the event the
Company exhausts its remedies pursuant to Section 7(c) and the Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. 
 (c) The Executive shall notify the Company in
writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Excise Tax Gross-Up Payment. Such notification shall be given as soon as practicable, but no later than 10 business days after
the Executive is informed in writing of such claim. The Executive shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the
30-day period following the date on which the Executive gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior
to the expiration of such period that the Company desires to contest such claim, the Executive shall: 
 (i) give the Company any information
reasonably requested by the Company relating to such claim, 
 (ii) take such action in connection with contesting such claim as the Company
shall reasonably request in writing from time to-time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 
 (iii) cooperate with the Company in good faith in order effectively to contest such claim, and 
 (iv) permit the Company to participate in any proceedings relating to such claim; 
  

 -13- 

 provided, however, that the Company shall bear and pay directly all costs and expenses (including
additional interest and penalties) incurred in connection with such-contest, and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties) imposed as a result of such
representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 7(c), the Company shall control all proceedings taken in connection with such contest, and, at its sole discretion, may
pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole discretion, either direct the Executive to pay the tax claimed and sue for a
refund or contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company
shall determine; provided, however, that, if the Company directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis, and shall
indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties) imposed with respect to such advance or with respect to any imputed income in connection with such advance; and
provided, further, that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount.
Furthermore, the Company’s control of the contest shall be limited to issues with respect to which the Excise Tax Gross-Up Payment would be payable hereunder, and the Executive shall be entitled to settle or contest, as the case may be, any
other issue raised by the Internal Revenue Service or any other taxing authority. 
 (d) If, after the receipt by the Executive of an Excise
Tax Gross-Up Payment or an amount advanced by the Company pursuant to Section 7(c), the Executive becomes entitled to receive any refund with respect to the Excise Tax to which such Excise Tax Gross-Up Payment relates or with respect to
such claim, the Executive shall (subject to the Company’s complying with the requirements of Section 7(c), if applicable) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon
after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 7(c), a determination is made that the Executive shall not be entitled to any refund with respect to such
claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and
the amount of such advance shall offset, to the extent thereof, the amount of Excise Tax Gross-Up Payment required to be paid. 
 (e)
Notwithstanding any other provision of this Section 7, the Company may, in its sole discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing authority, for the benefit of the Executive, all or any
portion of any Excise Tax Gross-Up Payment, and the Executive hereby consents to such withholding. 
 (f) Any other liability for unpaid or
unwithheld Excise Taxes shall be borne exclusively by the Company, in accordance with Section 3403 of the Code. The foregoing sentence shall not in any manner relieve the Company of any of its obligations under this Employment Agreement.

  

 -14- 

 (g) Notwithstanding any other provision of this Section 7 to the contrary, all taxes
described in this Section 7 shall be paid or reimbursed no later than 210 days following the date upon which the applicable taxes are remitted. Any expenses, including interest and penalties assessed on the taxes described in this
Section 7, incurred by the Executive shall be reimbursed within 30 days of the date upon which the Executive submits written evidence of the incurrence of such expenses, which evidence must be submitted within 180 days of the date upon
which the Executive incurs the expense. Each provision for reimbursement pursuant to this Section 7 shall be considered a separate payment and not one of a series of payments for purposes of Section 409A. Any expense reimbursed by
the Company in one taxable year in no event will affect the amount of expenses required to be reimbursed by the Company in any other taxable year. 
 (h) Definitions. The following terms shall have the following meanings for purposes of this Section 7: 
 (i)
“Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax. 
 (ii) “Parachute Value” of a Payment shall mean the present value as of the date of the change of control for purposes of
Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2), as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax
will apply to such Payment. 
 (iii) A “Payment” shall mean any payment or distribution in the nature of compensation
(within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Executive, whether paid or payable pursuant to this Agreement or otherwise. 
 (iv) The “Safe Harbor Amount” shall mean 2.99 times the Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code. 
 (v) “Value” of a Payment shall mean the economic present value of a Payment as of the date of the change of control for purposes of
Section 280G of the Code, as determined by the Accounting Firm using the discount rate required by Section 280G(d)(4) of the Code. 
 8. Successors. 
 (a) This Agreement is personal to the Executive and without the prior written consent of the Company shall
not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 
 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
 9. Payment of Financial Obligations. The payment or provision to the Executive by the Company of any remuneration, benefits or other financial
obligations pursuant to this Agreement shall be allocated to the Operating Partnership, TPG and, if applicable, any subsidiary and/or affiliate thereof in accordance with any employee sharing and expense allocation agreement, by and between TPG and
the Operating Partnership, as in effect from time to time. 
  

 -15- 

 10. Miscellaneous. 
 (a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to principles of conflict of laws. The captions of this Agreement
are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

 (b) Arbitration. To the fullest extent allowed by law, any controversy, claim or dispute between Executive and the Company (and/or
any of its owners, directors, officers, employees, affiliates, or agents) relating to or arising out of Executive’s employment or the cessation of that employment will be submitted to final and binding arbitration in the county in which
Executive work(ed) for determination in accordance with the American Arbitration Association’s (“AAA”) National Rules for the Resolution of Employment Disputes, as the exclusive remedy for such controversy, claim or dispute. In
any such arbitration, the parties may conduct discovery in accordance with the applicable rules of the arbitration forum, except that the arbitrator shall have the authority to order and permit discovery as the arbitrator may deem necessary and
appropriate in accordance with applicable state or federal discovery statutes. The arbitrator shall issue a reasoned, written decision, and shall have full authority to award all remedies which would be available in court. The parties shall share
the filing fees required for the arbitration, provided that Executive shall not be required to pay an amount in excess of the filing fees required by a federal or state court with jurisdiction. The Company shall pay the arbitrator’s fees and
any AAA administrative expenses. Any judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Possible disputes covered by the above include (but are not limited to) unpaid wages, breach of
contract, torts, violation of public policy, discrimination, harassment, or any other employment-related claims under laws including but not limited to, Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act, the Age
Discrimination in Employment Act, the California Fair Employment and Housing Act, the California Labor Code, and any other statutes or laws relating to an employee’s relationship with his/her employer, regardless of whether such dispute is
initiated by the employee or the Company. Thus, this bilateral arbitration agreement applies to any and all claims that the Company may have against an employee, including but not limited to, claims for misappropriation of Company property,
disclosure of proprietary information or trade secrets, interference with contract, trade libel, gross negligence, or any other claim for alleged wrongful conduct or breach of the duty of loyalty by an employee. However, notwithstanding anything to
the contrary contained herein, Company and Executive shall have their respective rights to seek and obtain preliminary injunctive relief and other provisional remedies in aid of arbitration or to preserve the status quo pending arbitration in an
appropriate forum pursuant to California Code of Civil Procedure section 1281.8. Claims for workers’ compensation benefits and unemployment insurance (or any other claims where mandatory arbitration is prohibited by law) are not covered by this
arbitration agreement, and such claims may be presented by either Executive or the Company to the appropriate court or government agency. BY AGREEING TO THIS BINDING ARBITRATION PROVISION, BOTH EXECUTIVE AND THE COMPANY GIVE UP ALL RIGHTS TO TRIAL
BY JURY. This arbitration agreement is to be construed as broadly as is permissible under applicable law. 
  

 -16- 

 (c) Notices. All notices and other communications hereunder shall be in writing and shall be given
by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the Executive: at the Executive’s most recent address on the records of the Company, 
 If to TPG or the
Operating Partnership: 
 Thomas Properties Group, Inc. 
 515 South Flower Street, Sixth Floor 
 Los Angeles, CA 90071 
 Attn: Secretary 
 or to such other address as either party
shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 
 (d) Sarbanes-Oxley Act of 2002. Notwithstanding anything herein to the contrary, if the Company determines, in its good faith judgment, that any transfer or deemed transfer of funds hereunder is likely to be
construed as a personal loan prohibited by Section 13(k) of the Exchange Act and the rules and regulations promulgated thereunder, then such transfer or deemed transfer shall not be made to the extent necessary or appropriate so as not to
violate the Exchange Act and the rules and regulations promulgated thereunder. 
 (e) Section 409A. To the extent applicable, it
is intended that the compensation arrangements under this Agreement be in full compliance with the provisions of Section 409A of the Internal Revenue Code and the guidance and regulations promulgated thereunder (“Section
409A”). This Agreement shall be administered in a manner consistent with this intent and the Executive agrees the Company shall have the right to delay the payment, or to limit the form of payment, of any amount under this Agreement to the
extent the Company, in good faith, determines that such delay or limitation is necessary to avoid adverse tax consequences under Section 409A. Specifically, notwithstanding anything in Sections 4 or 5 or any other provision of this
Agreement to the contrary, if at the Executive’s Date of Termination, stock of the Company or any of its affiliates is publicly traded on an established securities market or otherwise and the Executive is a “Specified Employee” (as
defined in Section 10(e)(i)) at the Date of Termination, the Company shall defer the payment or commencement of the payment, as the case may be, of any amounts described in Sections 4 or 5, and any other payments or benefits
payable under this Agreement, the deferral of the payment or commencement of which is necessary to prevent any accelerated or additional tax under Section 409A, that, in any such case, otherwise become payable during the first six months
following the Executive’s Date of Termination, until the earlier of (A) the first day of the seventh month following the Executive’s Date of Termination or (B) the Executive’s death. Any payments or benefits delayed as a
result of the preceding sentence shall be accumulated and paid in a lump sum, without interest, as soon as practicable after the first day of the seventh month following the Executive’s Date of Termination (or the Executive’s earlier
death). Thereafter, payments shall resume in accordance with this Agreement. In addition, to the 

  

 -17- 

 
extent any provision of this Agreement, including the foregoing provisions of this Section 10(e), is or will be in violation of
Section 409A, this Agreement shall be amended in such manner as the parties may agree such that the Agreement is or remains in compliance with Section 409A and the foregoing intent of the parties is maintained to the maximum extent
possible. Each party is responsible for reviewing this Agreement for compliance with Section 409A. 
 (i) For purposes of this
Agreement, a “Specified Employee” means, during the 12-month period beginning on April 1, 2007 or on April 1 of any subsequent calendar year, an employee of the Company or its affiliates who met the requirements of
Section 416(i)(1)(A)(i), (ii) or (iii) of the Internal Revenue Code (applied in accordance with the regulations thereunder and without regard to Code Section 416(i)(5)) for being a “key employee” at any time during the
12-month period ending on the December 31st immediately preceding such April 1st. 
 (f) Severability. The invalidity or
unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. In the event any provision or term hereof is deemed to have exceeded applicable legal authority or shall be
in conflict with applicable legal limitations, such provision shall be reformed and rewritten as necessary to achieve consistency and compliance with such applicable law. 
 (g) Withholding. The Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or
regulation. In addition, notwithstanding any other provision of this Agreement, the Company may, in its sole discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing authority, for the benefit of the
Executive, all or any portion of any Excise Tax Gross-Up Payment and the Executive hereby consents to such withholding. 
 (h) No
Waiver. The Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation,
the right of the Executive to terminate employment for Good Reason pursuant to Section 3(c) of this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

(i) Entire Agreement. This Agreement, the Noncompetition Agreement, the Indemnification Agreement, and the Confidentiality Agreement constitute
the final, complete and exclusive agreement between the Executive and the Company with respect to the subject matter hereof and replace and supersede any and all other agreements, offers or promises, whether oral or written, made to the Executive by
the Company or any affiliate, or representative thereof. 
 (j) Consultation With Counsel. The Executive acknowledges that he has had
a full and complete opportunity to consult with counsel and other advisors of his own choosing concerning the terms, enforceability and implications of this Agreement, and that the Company has not made any representations or warranties to the
Executive concerning the terms, enforceability or implications of this Agreement other than as reflected in this Agreement. 
  

 -18- 

 (k) Counterparts. This Agreement may be executed simultaneously in two counterparts, each of which
shall be deemed an original but which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the Executive has
hereunto set the Executive’s hand and, pursuant to the authorization from the Board, the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	 THOMAS PROPERTIES GROUP, INC.
 a Delaware
corporation

		
	By:	 	 /s/ James A. Thomas

	Its:	 	 Chief Executive Officer

	
	 THOMAS PROPERTIES GROUP, L.P.,
 a Maryland
limited partnership

		
	By:	 	 /s/ James A. Thomas

	Its:	 	 Chief Executive Officer

	
	EXECUTIVE
	
	 /s/ Paul S. Rutter

	Name:	 	Paul S. Rutter

  

 -19- 

 EXHIBIT A 
 TO EMPLOYMENT AGREEMENT 
 RELEASE 
 For a valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned does hereby release and forever discharge the
“Releasees” hereunder, consisting of Thomas Properties, Group, Inc., a Delaware corporation, Thomas Properties Group, L.P., a Maryland limited partnership and each of their partners, subsidiaries, associates, affiliates, successors,
heirs, assigns, agents, directors, officers, employees, representatives, lawyers, insurers, and all persons acting by, through, under or in concert with them, or any of them, of and from any and all manner of action or actions, cause or causes of
action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands, damages, losses, costs, attorneys’ fees or expenses, of any nature whatsoever, known or unknown, fixed or contingent to the extent
permissible under applicable law (hereinafter called “Claims”), which the undersigned now has or may hereafter have against the Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning of
time to the date hereof. The Claims released herein include, without limiting the generality of the foregoing, any Claims in any way arising out of, based upon, or related to the employment or termination of employment of the undersigned by the
Releasees, or any of them; any alleged breach of any express or implied contract of employment; any alleged torts or other alleged legal restrictions on Releasee’s right to terminate the employment of the undersigned; and any alleged violation
of any federal, state or local statute or ordinance including, without limitation, Title VII of the Civil Rights Act of 1964, the Age Discrimination In Employment Act, the Americans With Disabilities Act, and the California Fair Employment and
Housing Act. 
 THE UNDERSIGNED ACKNOWLEDGES THAT HE HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA
CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
 THE UNDERSIGNED, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 IN ACCORDANCE WITH THE OLDER WORKERS BENEFIT PROTECTION ACT OF 1990, THE UNDERSIGNED IS HEREBY ADVISED AS FOLLOWS: 
 (A) HE HAS THE RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE; 
 (B) HE HAS TWENTY-ONE (21) DAYS TO CONSIDER THIS RELEASE BEFORE SIGNING IT; AND 

 (C) HE HAS SEVEN (7) DAYS AFTER SIGNING THIS RELEASE TO REVOKE THIS RELEASE, AND THIS RELEASE WILL
BECOME EFFECTIVE UPON THE EXPIRATION OF THAT REVOCATION PERIOD. 
 The undersigned represents and warrants that there has been no assignment
or other transfer of any interest in any Claim which he may have against Releasees, or any of them, and the undersigned agrees to indemnify and hold Releasees, and each of them, harmless from any liability, Claims, demands, damages, costs, expenses
and attorneys’ fees incurred by Releasees, or any of them, as the result of any such assignment or transfer or any rights or Claims under any such assignment or transfer. It is the intention of the parties that this indemnity does not require
payment as a condition precedent to recovery by the Releasees against the undersigned under this indemnity. 
 The undersigned agrees that if
he hereafter commences any suit arising out of, based upon, or relating to any of the Claims released hereunder or in any manner asserts against Releasees, or any of them, any of the Claims released hereunder, then the undersigned agrees to pay to
Releasees, and each of them, in addition to any other damages caused to Releasees thereby, all attorneys’ fees incurred by Releasees in defending or otherwise responding to said suit or Claim. 
 The undersigned further understands and agrees that neither the payment of any sum of money nor the execution of this Release shall constitute or be
construed as an admission of any liability whatsoever by the Releasees, or any of them, who have consistently taken the position that they have no liability whatsoever to the undersigned. 
 IN WITNESS WHEREOF, the undersigned has executed this Release this          day of
                    , 20        . 
  

	
	  

	Paul S. RutterNoncompetition Agreement

 Exhibit 10.2 
 NONCOMPETITION AGREEMENT 
 THIS NONCOMPETITION AGREEMENT (this “Agreement”)
is dated as of September 1, 2008, by and among Thomas Properties Group, Inc., a Delaware corporation (“TPG”), Thomas Properties Group, L.P., a Maryland limited partnership (the “Operating Partnership”) and Paul
S. Rutter (the “Executive”). TPG and the Operating Partnership are collectively referred to herein as the “Company.” 
 WHEREAS, concurrently with the execution of this Agreement, the Company and the Executive have entered into (i) an Employment Agreement, pursuant to which the Company has agreed to employ the Executive,
and the Executive has agreed to be employed by the Company, as an Executive Vice President and General Counsel (the “Employment Agreement”) and (ii) a confidentiality agreement (the “Confidentiality
Agreement”); and 
 WHEREAS, the Company and the Executive agree that, in connection with the execution of the Employment
Agreement and the Executive’s employment, the Executive will not engage in competition with the Company pursuant to the terms and conditions hereof. Capitalized terms used herein and not defined herein shall have the meanings given in the
Employment Agreement. 
 NOW, THEREFORE, in furtherance of the foregoing and in exchange for good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Noncompetition. 
 (a) During the Employment Period the Executive shall not engage in Competition (as defined below) with the Company or any of its subsidiaries or
affiliates. To the extent permitted by federal and state law, this Agreement shall continue in effect for one year beyond the end of the Employment Period only if Executive voluntarily resigns from employment with the Company during the Employment
Period but excluding a resignation for Good Reason, a Change in Control Resignation, or a resignation as a result of Executive’s exercise of the right to resign under Section 2(b)(iii) of the Employment Agreement. 
 (b) The term “Competition” for purposes of this Agreement shall mean the taking of any of the following actions by the Executive:
(i) the conduct, directly or indirectly, of any business involving real property development, investment, acquisition, sale or management, whether such business is conducted by the Executive individually or as principal, partner, officer,
director, consultant, employee, stockholder or manager of any person, partnership, corporation, limited liability company or any other entity; and/or (ii) ownership of interests in real property which are competitive, directly or indirectly,
with any business carried on by the Company (or any successor thereto) or its subsidiaries or affiliates; provided, however, that the term “Competition” shall be deemed to exclude (A) the direct or indirect ownership by the
Executive of up to five percent (5%) of the outstanding equity interests of any public company or up to ten percent (10%) in any privately held fund, partnership or other real estate investment vehicle, and (B) residential real
estate. 
  

 1 

 (c) During the Employment Period, and for two (2) years thereafter, the Executive shall not,
directly or indirectly, engage, employ or solicit the employment of any person who is then or has been within three (3) months prior to the time of such action, an employee of the Company, or any affiliate of either TPG or the Operating
Partnership. 
 2. Specific Performance. The Executive acknowledges that in the event of breach or threatened breach by the Executive
of the terms of Section 1 hereof, the Company could suffer significant and irreparable harm that could not be satisfactorily compensated in monetary terms, and that the remedies at law available to the Company may otherwise be inadequate
and the Company shall be entitled, in addition to any other remedies to which it may be entitled to under law or in equity, to specific performance of this Agreement by the Executive including the immediate ex parte issuance, without bond, of a
temporary restraining order enjoining the Executive from any such violation or threatened violation of Section 1 hereof and to exercise such remedies cumulatively or in conjunction with all other rights and remedies provided by law and
not otherwise limited by this Agreement. The Executive hereby acknowledges and agrees that the Company shall not be required to post bond as a condition to obtaining or exercising any such remedies, and the Executive hereby waives any such
requirement or condition. 
 3. Adequacy of Consideration. The Executive acknowledges that his receipt of Incentive Units in the
Operating Partnership will be full, fair and adequate to support his obligations hereunder. 
 4. Reasonableness of Covenants. The
Executive agrees that all of the covenants contained in this Agreement are reasonably necessary to protect the legitimate interests of the Company and its affiliates, are reasonable with respect to time and territory and that he has read and
understands the descriptions of the covenants so as to be informed as to their meaning and scope. 
 5. Attorneys Fees. If any legal
action, arbitration or other proceeding is brought for the enforcement of this Agreement, or because of an alleged dispute, breach or default in connection with any of the provisions of this Agreement, the prevailing party shall be entitled to
recover attorneys’ fees and costs as set forth in the Employment Agreement. 
 6. No Alteration of Employment Status. The
execution of this Agreement shall not be construed in any manner to alter the Executive’s employment with the Company as provided in the Employment Agreement. 
 7. Effect of Waiver. The waiver by either party of a breach of any provision of this Agreement will not operate or be construed as a waiver of any subsequent breach thereof or as a waiver of any other provision
of this Agreement. The remedies set forth herein are nonexclusive and are in addition to any other remedies that the Company may have at law or in equity. 
  

 2 

 8. Severability. Any provision of this Agreement which is deemed invalid, illegal or unenforceable
in any jurisdiction shall, as to that jurisdiction and subject to this paragraph, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining provisions hereof in such jurisdiction or
rendering that any other provisions of this Agreement invalid, illegal or unenforceable in any other jurisdiction. Notwithstanding the foregoing, if any provision of this Agreement should be deemed invalid, illegal or unenforceable because its scope
or duration is considered excessive, such provision shall be modified so that the scope of the provision is reduced only to the minimum extent necessary to render the modified provision valid, legal and enforceable. 
 9. Governing Law. This Agreement shall be governed, construed, interpreted and enforced in accordance with the laws of the State of California,
without regard to the conflict of laws principles thereof. 
 10. Entire Agreement. This Agreement, together with the Employment
Agreement, the Confidentiality Agreement, and the Indemnification Agreement contains the entire agreement and understanding between the Company and the Executive with respect to the subject matter hereof, and no representations, promises, agreements
or understandings, written or oral, not herein contained shall be of any force or effect. This Agreement shall not be changed unless in writing and signed by both the Executive and the Board of Directors of the Company. 
 11. Assignment. This Agreement may not be assigned by the Executive, but may be assigned by the Company to any successor to its business and will
inure to the benefit of and be binding upon any such successor. 
 12. Notice. All notices and other communications hereunder shall be
in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the Executive: at the Executive’s most recent address on the records of the Company, 
 If to the Company: 
 Thomas Properties Group, Inc. 
 515 South Flower Street, Sixth Floor 
 Los
Angeles, CA 90071 
 Attn: James A. Thomas, CEO 
 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 
 13. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument. 
  

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 14. Executive’s Acknowledgment. The Executive acknowledges (a) that he has had the
opportunity to consult with independent counsel of his own choice concerning this Agreement, and (b) that he has read and understands this Agreement, is fully aware of its legal effect, and has entered into it freely based on his own judgment.

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

					
	Thomas Properties Group, Inc.,
	a Delaware corporation
		
	By:	 	 /s/ James A. Thomas

		 	James A. Thomas
		 	Chief Executive Officer
	
	Thomas Properties Group, L.P. a Maryland limited partnership
		
	By:	 	Thomas Properties Group, Inc., a Delaware corporation,
		 	Its:	 	General Partner
			
		 	By:	 	 /s/ James A. Thomas

		 		 	James A. Thomas
		 		 	Chief Executive Officer
	
	Executive
	
	 /s/ Paul S. Rutter

	Paul S. Rutter

  

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