Document:

Exhibit
10.5

AGREEMENT

THIS AGREEMENT, entered into as of February 27, 2007,
by and between New Plan Excel Realty Trust, Inc., a Maryland corporation (the “Company”)
and John Roche (the “Executive”),

W I T N E S S E T H:

WHEREAS, the
Company and the Executive have previously entered into that certain Employment
Agreement dated April 14, 2000, as amended (the “Employment Agreement”);

WHEREAS, the
Company and the Executive now desire to make certain amendments to the
Employment Agreement to be effective in the event of consummation of the Offer
described in the Agreement and Plan of Merger, dated as of February 27, 2007,
by and among the Company, Excel Realty Partners, L.P., Super IntermediateCo
LLC, Super MergerSub, Inc., and Super DownREIT MergerSub LLC;

NOW, THEREFORE, it
is agreed as follows:

1.             Section 6(d) of the Employment
Agreement is hereby amended by adding the following new paragraph (5) to the
definition of Change in Control of the Company:

“(5)         notwithstanding paragraphs (1) through
(4) above, the Effective Time of the Merger (as such terms are defined in the
Agreement and Plan of Merger, dated as of February 27, 2007, by and among the
Company, Excel Realty Partners, L.P., Super IntermediateCo LLC, Super
MergerSub, Inc., and Super DownREIT MergerSub LLC (the “Merger Agreement”)),
and in no case shall a Change in Control be treated as occurring as of the
closing date of the Offer (as defined in the Merger Agreement) or at any time
prior to the Effective Time of the Merger.

Notwithstanding anything
to the contrary below or otherwise in this Agreement, (i) a cure period shall
not be required to give effect to the Executive’s Good Reason resignation on
account of a transaction described in paragraph (5) of the definition of Change
in Control (above), (ii) the Executive shall not be deemed to have waived his
right to terminate his employment for Good Reason by not providing notice of an
intent to terminate employment as of the closing date of the Offer or at any
time prior to the Effective Time of the Merger, and (iii) the Executive may
terminate his employment for Good Reason by providing written notice thereof on
the Effective Time of the Merger or within the thirty (30) day period
immediately following the Effective Time of the Merger.”

 1
 

2.             The Employment Agreement is hereby
amended by adding the following new Section to the end of the Employment
Agreement:

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

3.             Except as expressly provided above,
the Employment Agreement will remain in effect in accordance with its original
terms, and this amendment shall under no circumstances be considered consent by
the Executive to the Good Reason event set forth herein.

4.             This amendment to the Employment
Agreement shall be null and void in the event the Merger contemplated by the
Merger Agreement does not occur.

[The
remainder of this page is intentionally left blank.]

 2
 

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed on its behalf by its officer duly authorized to act on
behalf of the Company, and the Executive has personally executed this
Agreement.

	
  

  	
   

  	
  NEW PLAN EXCEL REALTY TRUST, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
  /s/ Steven F.
  Siegel

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Steven F. Siegel

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Executive Vice
  President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Company’s Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  420 Lexington
  Avenue

  
	
   

  	
   

  	
  New York, NY
  10170

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
  By: 

  	
   

  	
  /s/ John Roche

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Executive’s Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 3Exhibit
10.6

AGREEMENT

THIS AGREEMENT, entered into as of February 27, 2007,
by and between New Plan Excel Realty Trust, Inc., a Maryland corporation (the “Company”)
and Steven Siegel (the “Executive”),

W I T N E S S E T H:

WHEREAS, the
Company and the Executive have previously entered into that certain Employment
Agreement dated September 25, 1998, as amended (the “Employment Agreement”);

WHEREAS, the
Company and the Executive now desire to make certain amendments to the
Employment Agreement to be effective in the event of consummation of the Offer
described in the Agreement and Plan of Merger, dated as of February 27, 2007,
by and among the Company, Excel Realty Partners, L.P., Super IntermediateCo
LLC, Super MergerSub, Inc., and Super DownREIT MergerSub LLC;

NOW, THEREFORE, it
is agreed as follows:

1.             Section 6(d) of the Employment
Agreement is hereby amended by adding the following new paragraph (5) to the
definition of Change in Control of the Company:

“(5)         notwithstanding paragraphs (1) through
(4) above, the Effective Time of the Merger (as such terms are defined in the
Agreement and Plan of Merger, dated as of February 27, 2007, by and among the
Company, Excel Realty Partners, L.P., Super IntermediateCo LLC, Super
MergerSub, Inc., and Super DownREIT MergerSub LLC (the “Merger Agreement”)),
and in no case shall a Change in Control be treated as occurring as of the
closing date of the Offer (as defined in the Merger Agreement) or at any time
prior to the Effective Time of the Merger.

Notwithstanding anything
to the contrary below or otherwise in this Agreement, (i) a cure period shall
not be required to give effect to the Executive’s Good Reason resignation on
account of a transaction described in paragraph (5) of the definition of Change
in Control (above), (ii) the Executive shall not be deemed to have waived his
right to terminate his employment for Good Reason by not providing notice of an
intent to terminate employment as of the closing date of the Offer or at any
time prior to the Effective Time of the Merger, and (iii) the Executive may
terminate his employment for Good Reason by providing written notice thereof on
the Effective Time of the Merger or within the thirty (30) day period
immediately following the Effective Time of the Merger.”

 1
 

2.             The Employment Agreement is hereby
amended by adding the following new Section to the end of the Employment
Agreement:

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

3.             Except as expressly provided above,
the Employment Agreement will remain in effect in accordance with its original
terms, and this amendment shall under no circumstances be considered consent by
the Executive to the Good Reason event set forth herein.

4.             This amendment to the Employment
Agreement shall be null and void in the event the Merger contemplated by the
Merger Agreement does not occur.

[The
remainder of this page is intentionally left blank.]

 2
 

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed on its behalf by its officer duly authorized to act on
behalf of the Company, and the Executive has personally executed this
Agreement.

	
  

  	
   

  	
  NEW PLAN EXCEL REALTY TRUST, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
  /s/ Glenn J.
  Rufrano

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Glenn J. Rufrano

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Company’s Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  420 Lexington
  Avenue

  
	
   

  	
   

  	
  New York, NY
  10170

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
  By: 

  	
   

  	
  /s/ Steven F. Siegel

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Executive’s Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 3Exhibit
10.7

AGREEMENT

THIS AGREEMENT, entered into as of February 27, 2007,
by and between New Plan Excel Realty Trust, Inc., a Maryland corporation (the “Company”)
and Leonard Brumberg (the “Executive”),

W I T N E S S E T H:

WHEREAS, the
Company and the Executive have previously entered into that certain Employment
Agreement dated September 14, 2000, as amended (the “Employment Agreement”);

WHEREAS, the
Company and the Executive now desire to make certain amendments to the
Employment Agreement to be effective in the event of consummation of the Offer
described in the Agreement and Plan of Merger, dated as of February 27, 2007,
by and among the Company, Excel Realty Partners, L.P., Super IntermediateCo
LLC, Super MergerSub, Inc., and Super DownREIT MergerSub LLC;

NOW, THEREFORE, it
is agreed as follows:

1.             Section 6(d) of the Employment
Agreement is hereby amended by adding the following new paragraph (5) to the
definition of Change in Control of the Company:

“(5)         notwithstanding paragraphs (1) through
(4) above, the Effective Time of the Merger (as such terms are defined in the
Agreement and Plan of Merger, dated as of February 27, 2007, by and among the
Company, Excel Realty Partners, L.P., Super IntermediateCo LLC, Super
MergerSub, Inc., and Super DownREIT MergerSub LLC (the “Merger Agreement”)),
and in no case shall a Change in Control be treated as occurring as of the
closing date of the Offer (as defined in the Merger Agreement) or at any time
prior to the Effective Time of the Merger.

Notwithstanding anything
to the contrary below or otherwise in this Agreement, (i) a cure period shall
not be required to give effect to the Executive’s Good Reason resignation on
account of a transaction described in paragraph (5) of the definition of Change
in Control (above), (ii) the Executive shall not be deemed to have waived his
right to terminate his employment for Good Reason by not providing notice of an
intent to terminate employment as of the closing date of the Offer or at any
time prior to the Effective Time of the Merger, and (iii) the Executive may
terminate his employment for Good Reason by providing written notice thereof on
the Effective Time of the Merger or within the thirty (30) day period
immediately following the Effective Time of the Merger.”

 1
 

2.             The Employment Agreement is hereby
amended by adding the following new Section to the end of the Employment
Agreement:

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

3.             Except as expressly provided above,
the Employment Agreement will remain in effect in accordance with its original
terms, and this amendment shall under no circumstances be considered consent by
the Executive to the Good Reason event set forth herein.

4.             This amendment to the Employment
Agreement shall be null and void in the event the Merger contemplated by the
Merger Agreement does not occur.

[The
remainder of this page is intentionally left blank.]

 2
 

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed on its behalf by its officer duly authorized to act on
behalf of the Company, and the Executive has personally executed this
Agreement.

	
  

  	
   

  	
  NEW PLAN EXCEL REALTY TRUST, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
  /s/ Steven F.
  Siegel

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Steven F. Siegel

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Executive Vice
  President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Company’s Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  420 Lexington
  Avenue

  
	
   

  	
   

  	
  New York, NY
  10170

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
  By: 

  	
   

  	
  /s/ Leonard Brumberg

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Executive’s Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]