Document:

exv10w1

Exhibit 10.1

Healthcare Realty Trust

Incorporated

Employment Agreement

     This Employment Agreement (the “Agreement”) is made and entered into as of March 1,
2011 (“Effective Date”) by and between Healthcare Realty Trust Incorporated, a Maryland
corporation (“Corporation”), and Todd J. Meredith (“Officer”).

Recital

     Corporation desires to employ Officer as its Executive Vice President — Investments and
Officer is willing to accept such employment by Corporation, on the terms and subject to the
conditions set forth in this Agreement.

Agreement

     The Parties Agree As Follows:

     1. Duties. During the term of this Agreement, Officer agrees to be employed by and to
serve Corporation as its Executive Vice President — Investments and Corporation agrees to employ
and retain Officer in such capacity. Officer’s duties shall be to manage and supervise
Corporation’s real estate investment department in furtherance of the overall financial success of
the Corporation. Officer shall devote such of his business time, energy, and skill to the affairs
of Corporation as shall be necessary to perform his duties under this Agreement. Officer shall
report to Corporation’s Board of Directors and/or Chief Executive Officer and at all times during
the term of this Agreement shall have powers and duties at least commensurate with his position as
Executive Vice President — Investments. Officer’s principal place of business with respect to his
services to Corporation shall be within 35 miles of Nashville, Tennessee.

     2. Term of Employment.

          2.1 Definitions. For purposes of this Agreement the following terms shall have the
following meanings:

               (a) “Change in Control” shall mean (i) the time that Corporation first determines that
any person and all other persons who constitute a group (within the meaning of Section 13(d)(3) of
the Securities Exchange Act of 1934 (“Exchange Act”)) have acquired direct or indirect beneficial
ownership (within the meaning of Rule 13d-3 under the Exchange Act) of 20 percent or more of
Corporation’s outstanding securities, unless a majority of the “Continuing Directors” approves the
acquisition not later than ten business days after Corporation makes that determination, or (ii)
the first day on which a majority of the members of Corporation’s Board of Directors are not
“Continuing Directors.”

               (b) “Continuing Directors” shall mean, as of any date of determination, any member of
the Board of Directors of Corporation who (i) was a member

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of that Board of Directors on March 1, 2011, (ii) has been a member of that Board of Directors
for the two years immediately preceding such date of determination, or (iii) was nominated for
election or elected to the Board of Directors with the affirmative vote of the greater of (x) a
majority of Continuing Directors who were members of the Board at the time of such nomination or
election or (y) at least four Continuing Directors.

               (c) “Deferred Compensation” or “deferred compensation” shall mean any individual or
group plan, program, agreement or other arrangement, whether or not a “plan” for purposes of the
Employee Retirement Income Security Act of 1974 (“ERISA”) and whether or not a retirement plan or
supplemental executive retirement plan or additional retirement plan, but which in any event
involves an agreement by Corporation to make payment(s) to Officer at a future date as compensation
for current services to Corporation. The term Deferred Compensation or deferred compensation shall
include, but not be limited to, benefits described in any Incentive Plan, and any implementation
thereof or incentive award thereunder, each as it now exists or may hereafter be amended. This
definition shall not be construed as including all forms of deferred compensation within the
application of Code Section 409A. The term deferred compensation is not intended to include grants
of restricted stock or certain payments of severance or separation pay which are not deferred
compensation for Code Section 409A purposes.

               (d) “Incentive Plans” shall mean Corporation’s 2007 Employees Stock Incentive Plan,
and any successor plans.

               (e) “Involuntary Termination” shall mean, except as may be modified by Treasury
Regulations or other applicable guidance under Code Section 409A, a Separation From Service where:

	 	(i)	 	the Separation From Service occurs during the two-year period
following the initial existence of one or more of the following conditions
arising without the consent of the Officer: (A) a material diminution in the
Officer’s base compensation; (B) a material diminution in the Officer’s
authority, duties, or responsibilities; (C) a material diminution in the
authority, duties, or responsibilities of the supervisor to whom the Officer is
required to report; (D) a material change in the geographic location at which
the Officer must perform services; or (E) any other action or inaction that
constitutes a material breach by the Corporation of the agreement under which
the Officer provides services; and
	 
	 	(ii)	 	the amount, time, and form of payment payable upon the
Separation From Service is substantially identical to the amount, time and form
of payment payable due to an actual involuntary Separation From Service; and
	 
	 	(iii)	 	the Officer provides notice to the Corporation of the
existence of the condition described in clause (i) above within ninety (90)
days of the initial existence of the condition, upon the notice of which the

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	 	 	 	Corporation fails to remedy the condition within a period of thirty (30)
days.

               (f) “Retirement Eligibility” shall mean Officer’s attainment of 60 years of age and
ten years of continuous employment with Corporation.

               (g) “Separation from Service” or “Termination” shall mean a Separation from Service as
contemplated by Internal Revenue Code (“Code”) Section 409A and applicable guidance provided
thereunder, but only under circumstances where Officer and the Corporation reasonably anticipate
that the level of ongoing services by Officer for Corporation and its affiliates will be less than
twenty percent (20%) of the average level of such services over the prior thirty six (36) month
period.

               (h) “Specified Employee” shall mean a service provider who, as of the date of the
service provider’s Separation from Service, is a key employee of a service recipient any stock of
which is publicly traded on an established securities market or otherwise. For purposes of this
paragraph, a service provider is a key employee if the service provider meets the requirements of
Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with the Treasury Regulations
thereunder and disregarding Section 416(i)(5)) at any time during the 12-month period ending on a
specified employee identification date. If a service provider is a key employee as of a specified
employee identification date, the service provider will be treated as a key employee for the entire
12-month period beginning on the specified employee effective date. The specified employee
identification date is each December 31. The specified employee effective date is the April 1
following the specified employee identification date. For purposes of identifying a Specified
Employee, the definition of compensation under Treasury Regulation §1.415(c)-2(d)(3) will be
applied (generally wages within the contemplation of Code section 3401(a) for purposes of income
tax withholding, plus amounts deferred by the individual which would otherwise be includable in
income under Code Section 402(e)(3), 402(h)(1)(B), 402(k) or 457(b)), but without rules limiting
compensation based on the nature or location of employment or the services performed. Officer and
Corporation acknowledge that Officer is a Specified Employee as of the Effective Date.

               (i) “Termination” shall mean a Separation from Service as contemplated by
Internal Revenue Code (“Code”) Section 409A and applicable guidance provided thereunder, but only
under circumstances where Officer and the Corporation reasonably anticipate that the level of
ongoing services by Officer for Corporation and its affiliates will be less than twenty percent
(20%) of the average level of such services over the prior thirty six (36) month period.

               (j) “Termination For Cause” shall mean Termination by Corporation of Officer’s
employment by Corporation by reason of Officer’s dishonesty towards, fraud upon, or deliberate
injury or attempted injury to, Corporation or by reason of Officer’s breach of this Agreement.
Corporation shall have the burden of establishing that any Termination of Officer’s employment by
Corporation is a Termination For Cause.

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               (k) “Termination Other Than For Cause” shall mean any Termination by Corporation of
Officer’s employment with Corporation (other than a Termination For Cause) and shall include any
Involuntary Termination of Officer’s employment other than a Termination For Cause, effective upon
notice from Officer to Corporation of such Termination.

               (l) “Termination Upon a Change in Control” shall mean a Termination by Officer of
Officer’s employment with Corporation within 24 months following a “Change in Control.”

               (m) “Voluntary Termination” shall mean Termination by Officer of Officer’s employment
with Corporation other than (i) an Involuntary Termination, (ii) “Termination Upon a Change in
Control” , (iii) Termination by reason of Officer’s death or disability as described in Sections
2.5 and 2.6, (iv) Termination by reason of retirement by Officer upon attainment of Retirement
Eligibility, and (v) any Involuntary Termination.

          2.2 Basic Term. The term of employment of Officer by Corporation shall be from March
1, 2011 through December 31, 2011, unless terminated earlier pursuant to this Section 2.
Thereafter, Officer’s term of employment shall be continued for successive one-year terms, unless
terminated earlier pursuant to this Section 2.

          2.3 Termination For Cause. Termination For Cause may be effected by Corporation at any
time during the term of this Agreement and shall be effected by written notification to Officer.
Upon Termination For Cause, Officer immediately shall be paid all accrued salary, earned bonus
compensation, if any, any benefits under any plans of Corporation in which Officer is a participant
to the full extent of Officer’s rights under such plans, accrued vacation pay and any appropriate
business expenses incurred by Officer in connection with his duties hereunder, all to the date of
Termination, but Officer shall not be paid any other compensation or reimbursement of any kind,
including without limitation, severance compensation. Vested deferred compensation and any
tax-qualified retirement plan benefits will be paid in accordance with the applicable plan. Any
unvested deferred compensation will be forfeited upon a Termination for Cause. Any unvested
restricted stock which has been granted to Officer will be forfeited upon a Termination For Cause.

          2.4 Termination Other Than For Cause. Corporation may effect a Termination Other Than
For Cause at any time upon giving written notice to Officer of such Termination. Upon any
Termination Other Than For Cause, Officer shall immediately be paid all accrued salary, earned
bonus compensation, if any, any benefits under any plans of Corporation in which Officer is a
participant to the full extent of Officer’s rights under such plans, accrued vacation pay and any
appropriate business expenses incurred by Officer in connection with his duties hereunder, all to
the date of Termination, and all severance compensation provided in Section 4.2, but no other
compensation or reimbursement of any kind. Vested deferred compensation and any tax-qualified
retirement plan benefits will be paid in accordance with the applicable plan. Any unvested
restricted stock will vest upon a Termination Other Than For Cause.

          2.5 Termination by Reason of Disability. If, during the term of this Agreement,
Officer, in the reasonable judgment of the Board of Directors of Corporation, has failed to perform
his duties under this Agreement on account of illness or physical or

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mental incapacity, and such illness or incapacity continues for a period of more than 12
consecutive months (“Disability”), Corporation shall have the right to terminate Officer’s
employment hereunder by written notification to Officer and, upon Termination, immediate payment to
Officer of all accrued salary, bonus compensation, if any, to the extent earned, any benefits under
any plans of Corporation in which Officer is a participant to the full extent of Officer’s rights
under such plans, accrued vacation pay and any appropriate business expenses incurred by Officer in
connection with his duties hereunder, all to the date of Termination, but Officer shall not be paid
any other compensation or reimbursement of any kind, including without limitation, severance
compensation. Vested deferred compensation and any tax-qualified retirement plan benefits will be
paid in accordance with the applicable plan. Any unvested restricted stock granted to Officer will
vest upon a Termination upon a Disability.

          2.6 Death. In the event of Officer’s death during the term of this Agreement, Officer
shall be deemed to have a Termination as of the last day of the month during which his death occurs
and Corporation shall pay to his estate or such beneficiaries as Officer may from time to time
designate all accrued salary, bonus compensation, if any, to the extent earned, whether or not
vested without regard to such Termination, any benefits under any plans of Corporation in which
Officer is a participant to the full extent of Officer’s rights under such plans, accrued vacation
pay and any appropriate business expenses incurred by Officer in connection with his duties
hereunder, all to the date of Termination, but Officer’s estate shall not be paid any other
compensation or reimbursement of any kind, including without limitation, severance compensation.
Vested deferred compensation and any tax-qualified retirement plan benefits will be paid in
accordance with the applicable plan. Any unvested restricted stock granted to Officer will vest
upon a Termination due to Officer’s death.

          2.7 Voluntary Termination. In the event of a Voluntary Termination, Corporation shall
immediately pay all accrued salary, earned bonus compensation, if any, any benefits under any plans
of Corporation in which Officer is a participant to the full extent of Officer’s rights under such
plans, accrued vacation pay and any appropriate business expenses incurred by Officer in connection
with his duties hereunder, all to the date of Termination, but no other compensation or
reimbursement of any kind, including without limitation, severance compensation. Vested deferred
compensation and any tax-qualified retirement plan benefits will be paid in accordance with the
applicable plan. Any unvested restricted stock which has been granted to Officer will be forfeited
upon a Voluntary Termination.

          2.8 Termination Upon a Change in Control or Retirement. In the event of (i) a
Termination Upon a Change in Control or (ii) Termination by retirement of Officer upon attainment
of Retirement Eligibility, Officer shall immediately be paid all accrued salary, earned bonus
compensation, if any, any benefits under any plans of Corporation in which Officer is a participant
to the full extent of Officer’s rights under such plans, accrued vacation pay and any appropriate
business expenses incurred by Officer in connection with his duties hereunder, all to the date of
Termination, and all severance compensation provided in Section 4.1, but no other compensation or
reimbursement of any kind. Vested deferred compensation and any tax-qualified retirement plan
benefits will be paid in accordance with the applicable plan. Any unvested restricted stock granted
to

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Officer will vest upon a Termination Upon a Change in Control or Termination by retirement of Officer upon
attainment of Retirement Eligibility.

          2.9 Notice of Termination. Corporation may effect a termination of this Agreement
pursuant to the provisions of this Section 2 upon giving 30 days written notice to Officer of such
termination. Officer may effect a termination of this Agreement pursuant to the provisions of this
Section 2 upon giving 60 days written notice to Corporation of such termination.

     3. Salary, Benefits and Bonus Compensation.

          3.1 Base Salary. As payment for the services to be rendered by Officer as provided in
Section 1 and subject to the terms and conditions of Section 2, Corporation agrees to pay to
Officer a “Base Salary” beginning March 1, 2011 at the rate of $513,700 per annum payable in equal
semi-monthly installments. The Base Salary for each year (or portion thereof) beginning January 1,
2012 shall be determined by the Compensation Committee of the Board of Directors (the “Compensation
Committee”). Officer’s Base Salary shall be reviewed annually by the Compensation Committee. For
purposes of computing the amount of severance compensation due under this Agreement, the term “Base
Salary” shall also include the market value, as of the date of grant, of any restricted shares of
the Corporation to be awarded to Officer in lieu of annual cash salary, but shall not include the
value of any “matching” or inducement restricted shares awarded to Officer under any deferred
compensation plan or program maintained by the Corporation.

          3.2 Additional Benefits. During the term of this Agreement, Officer shall be entitled
to the following fringe benefits:

               (a) Officer Benefits. Officer shall be eligible to participate in such of
Corporation’s benefits and deferred compensation plans as are now generally available or later made
generally available to executive officers of Corporation, including, without limitation, the
Incentive Plans, and any implementation thereof or incentive award thereunder, profit sharing
plans, annual physical examinations, dental and medical plans, personal catastrophe and disability
insurance, financial planning, retirement plans and supplementary executive retirement plans, if
any. At Officer’s election, Corporation will pay the premium for a supplemental term life insurance
policy having a policy limit not to exceed $2,000,000. For purposes of establishing the length of
service under any benefit plans or programs of Corporation, except as may otherwise be
impermissible under any tax-qualified retirement plan or other benefit program, Officer’s
employment with Corporation will be deemed to have commenced on August 31, 2001.

               (b) Vacation. Officer shall be entitled to four (4) weeks of vacation during each year
during the term of this Agreement and any extensions thereof, prorated for partial years.

               (c) Reimbursement for Expenses. During the term of this Agreement, Corporation shall
reimburse Officer for reasonable and properly documented out-of-pocket business and/or
entertainment expenses incurred by Officer in connection with his duties under this Agreement.

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     4. Severance Compensation.

          4.1 Severance Compensation in the Event of a Termination Upon a Change in Control. In
the event of Officer’s Termination Upon a Change in Control, or Officer’s Involuntary Termination
within twenty four (24) months after a Change in Control, Officer shall be paid as severance
compensation an amount equal to the sum of (i) 1.5 times his Base Salary (at the rate payable at
the time of any such Termination), plus (ii) an amount equal to two times the average annual bonus,
if any, earned by Officer in the two years immediately preceding the date of Termination, with such
sum payable in equal monthly installments over a period of eighteen (18) months on the regular
payroll dates of the Corporation for its officers. Provided, however, that the foregoing payment
provisions are subject to sections 4.4 and 8.14 of this Agreement regarding the timing of payment.

          4.2 Severance Compensation in the Event of a Termination Other Than For Cause. In the
event of Officer’s Termination Other Than For Cause, Officer shall be paid as severance
compensation an amount equal to the sum of (i) 1.5 times his Base Salary (at the rate payable at
the time of such Termination), plus (ii) an amount equal to two times the average annual bonus, if
any, earned by Officer in the two years immediately preceding the date of Termination, with such
sum payable in equal monthly installments over a period of eighteen (18) months on the regular
payroll dates of the Corporation for its officers. Provided, however, that the foregoing payment
provisions of this Section are subject to sections 4.4 and 8.14 of this Agreement regarding the
timing of payment.

          4.3 No Severance Compensation Upon Other Termination. In the event of a Voluntary
Termination, Termination For Cause, Termination by reason of Officer’s disability pursuant to
Section 2.5, or Termination by reason of Officer’s death pursuant to Section 2.6, Officer or his
estate shall not be paid any severance compensation and shall receive only the benefits as provided
in the appropriate section of Article II applicable to the respective Termination.

          4.4 Involuntary Termination. In the case of Officer’s Involuntary Termination, and
whether or not Officer is a Specified Employee, payments of separation pay based upon an
involuntary separation (as defined pursuant to Treasury Regulations under Code Section 409A) will
be made as soon as is administratively practicable, and in any event by the fifteenth day of the
third calendar month, after such Involuntary Termination for that portion of the separation pay
that does not exceed two times the lesser of (i) the sum of the Officer’s annualized compensation
based upon the annual rate of pay for services provided to the Corporation for the taxable year of
the Officer preceding the taxable year of the Officer in which the Officer has a Separation From
Service with the Corporation (adjusted for any increase during that year that was expected to
continue indefinitely if the Officer had not Separated From Service), or (ii) the maximum amount
that may be taken into account under a qualified plan pursuant to Code Section 401(a)(17) for the
year in which the Officer has a Separation From Service. The remainder of the separation pay which
is due to the Officer, if any, in excess of the severance pay exception under Code Section 409A
Treasury Regulations shall be payable as otherwise provided in Section 4.1 or 4.2, as applicable,
after the date of the Separation From Service, but subject to Section 8.14.

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          4.5 Additional Payments Due to Change in Control.

               (a) Gross Up Payment. Anything in this Agreement to the contrary notwithstanding, in
the event it shall be determined that any payment or distribution by or on behalf of Corporation to
or for the benefit of Officer as a result of a Termination in connection with a “change in
control,” as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”),
involving Corporation or its affiliates (whether paid or payable or distributed or distributable
pursuant to the terms of this Agreement or otherwise, but determined without regard to any
additional payments required under this Section (a “Payment”)) would be subject to the excise tax
imposed by Section 4999 of the Code, or any interest or penalties are incurred by Officer with
respect to such excise tax (such excise tax, together with any such interest and penalties, are
hereinafter collectively referred to as the “Excise Tax”), then Officer shall be entitled to
receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by
Officer of all taxes (including 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 Gross-Up Payment, Officer retains an amount of the
Gross-Up Payment equal to the Excise Tax imposed upon the Payments.

               (b) Tax Opinion. Subject to the provisions of Section 4.5(c), all determinations
required to be made under this Section, including whether and when a Gross-Up Payment is required
and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, shall be made by a nationally recognized accounting firm or law firm selected by
Corporation (the “Tax Firm”); provided, however, that the Tax Firm shall not determine that no
Excise Tax is payable by Officer unless it delivers to Officer a written opinion (the “Tax
Opinion”) that failure to pay the Excise Tax and to report the Excise Tax and the payments
potentially subject thereto on or with Officer’s applicable federal income tax return will not
result in the imposition of an accuracy-related or other penalty on Officer. All fees and expenses
of the Tax Firm shall be borne solely by Corporation. Within 15 business days of the receipt of
notice from Officer that there has been a Payment, or such earlier time as is requested by
Corporation, the Tax Firm shall make all determinations required under this Section, shall provide
to Corporation and Officer a written report setting forth such determinations, together with
detailed supporting calculations, and, if the Tax Firm determines that no Excise Tax is payable,
shall deliver the Tax Opinion to Officer. Any Gross-Up Payment, as determined pursuant to this
Section 4.4, shall be paid by Corporation to Officer within 15 days after the Corporation’s receipt
of the Tax Firm’s determination, provided, however that Corporation shall not be required to make
any payment under this Section 4.5(b) unless Officer notifies Corporation not later than six (6)
months after the date of Officer’s Payment that such Payment has been made. Subject to the
remainder of this Section, any determination by the Tax Firm shall be binding upon Corporation and
Officer; provided, however, that Officer shall only be bound to the extent that the determinations
of the Tax Firm hereunder, including the determinations made in the Tax Opinion, are reasonable and
reasonably supported by applicable law. As a result of the uncertainty in the application of
Section 4999 of the Code at the time of the initial determination by the Tax Firm hereunder, it is
possible that Gross-Up Payments which will not have been made by Corporation should have been made
(“Underpayment”), consistent with the calculations required to be made hereunder. In the event
that it is ultimately determined in accordance

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with the procedures set forth in Section 4.5(c) that
Officer is required to make a payment of any Excise Tax, the Tax Firm shall reasonably determine
the amount of the Underpayment
that has occurred and any such Underpayment shall be promptly paid by Corporation to or for
the benefit of Officer. In determining the reasonableness of the Tax Firm’s determinations
hereunder, and the effect thereof, Officer shall be provided a reasonable opportunity to review
such determinations with the Tax Firm and Officer’s tax counsel. The Tax Firm’s determinations
hereunder, and the Tax Opinion, shall not be deemed reasonable until Officer’s reasonable
objections and comments thereto have been satisfactorily accommodated by the Tax Firm.

               (c) Notice of IRS Claim. Officer shall notify Corporation in writing of any claims by
the Internal Revenue Service that, if successful, would require the payment by Corporation of the
Gross-Up Payment. Such notification shall be given as soon as practicable but no later than 30
calendar days after Officer actually receives notice in writing of such claim and shall apprise
Corporation of the nature of such claim and the date on which such claim is requested to be paid;
provided, however, that the failure of Officer to notify Corporation of such claim (or to provide
any required information with respect thereto) shall not affect any rights granted to Officer under
this Section except to the extent that Corporation is materially prejudiced in the defense of such
claim as a direct result of such failure. Officer shall not pay such claim prior to the expiration
of the 30-day period following the date on which he gives such notice to Corporation (or such
shorter period ending on the date that any payment of taxes with respect to such claim is due). If
Corporation notifies Officer in writing prior to the expiration of such period that it desires to
contest such claim, Officer shall do all of the following:

                    (i) give Corporation any information reasonably requested by Corporation relating to such
claim;

                    (ii) take such action in connection with contesting such claim as Corporation shall reasonably
request in writing from time to time, including, without limitation, accepting legal representation
with respect to such claim by an attorney selected by Corporation and reasonably acceptable to
Officer;

                    (iii) cooperate with Corporation in good faith in order effectively to contest such claim; and

                    (iv) if Corporation elects not to assume and control the defense of such claim, permit
Corporation to participate in any proceedings relating to such claim;

provided, however, that Corporation 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 Officer harmless, on an after-tax basis, for any Excise Tax or income tax (including interest
and penalties with respect thereto) imposed as a result of such representation and payment of costs
and expenses. Without limiting the foregoing provisions of this Section 4.5, Corporation shall
have the right, at its sole option, to assume the defense of and control all proceedings in
connection with such contest, in which case it may pursue or forego any and all administrative
appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim
and may either direct Officer to pay the tax claimed

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and sue for a refund or contest the claim in
any permissible manner, and Officer 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 Corporation shall determine; provided,
however, that if Corporation directs Officer to pay such claim and sue for a refund, Corporation
shall advance the amount of such payment to Officer, on an interest-free basis and shall indemnify
and hold Officer harmless, on an after-tax basis, from any Excise Tax or income tax (including
interest or penalties with respect thereto) imposed with respect to such advance or with respect to
any imputed income with respect to such advance; and further provided that any extension of the
statute of limitations relating to payment of taxes for the taxable year of Officer with respect to
which such contested amount is claimed to be due is limited solely to such contested amount.
Furthermore, Corporation’s right to assume the defense of and control the contest shall be limited
to issues with respect to which a Gross-Up Payment would be payable hereunder and Officer 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) Right to Tax Refund. If, after the receipt by Officer of an amount advanced by
Corporation pursuant to Section, Officer becomes entitled to receive any refund with respect to
such claim, Officer shall (subject to Corporation’s complying with the requirements of Section
4.5(c)) promptly pay to Corporation the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If, after the receipt by Officer of an amount
advanced by Corporation pursuant to Section 4.5(c), a determination is made that Officer is not
entitled to a refund with respect to such claim and Corporation does not notify Officer 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, to the extent of such denial, be forgiven and shall not be
required to be repaid and the amount of forgiven advance shall offset, to the extent thereof, the
amount of Gross-Up Payment required to be paid.

     5. Non-Competition; Disclosure of Investments. During the term of this Agreement,
including the period, if any, during which Officer shall be entitled to severance compensation
pursuant to Section 4.2:

          (a) Officer shall not, without the prior written consent of Corporation, directly or
indirectly, own, manage, operate, control, be connected with as an officer, employee, partner,
consultant or otherwise, or otherwise engage or participate in any corporation or other business
entity engaged in the business of buying, selling, developing, building and/or managing real estate
facilities for the medical, healthcare and retirement sectors of the real estate industry. Officer
understands and acknowledges that Corporation carries on business nationwide and that the nature of
Corporation’s activities cannot be confined to a limited area. Accordingly, Officer agrees that
the geographic scope of this Section 5 shall include the United States of America. Notwithstanding
the foregoing, the ownership by Officer of less than 2% of any class of the outstanding capital
stock of any corporation conducting such a competitive business which is regularly traded on a
national securities exchange or in the over-the-counter market shall not be a violation of the
foregoing covenant.

          (b) Simultaneously with Officer’s execution of this Agreement and upon each anniversary of the
Effective Date, Officer shall notify the Chairman of the

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Compensation Committee of the nature and
extent of Officer’s investments, stock holdings, employment as an employee, director, or any
similar interest in any business or enterprise
other than Corporation; provided, however, that Officer shall have no obligation to disclose
any investment under $100,000 in value or any holdings of publicly traded securities which are not
in excess of one percent of the outstanding class of such securities. Notwithstanding any
provision herein to the contrary, the restrictions and covenants of this Section 5 shall not apply
in the event of a Termination Upon a Change in Control.

          (c) Officer shall not contact or solicit, directly or indirectly, any customer, client, tenant
or account whose identity Officer obtained through association with Corporation, regardless of the
geographical location of such customer, client, tenant or account, nor shall Officer, directly or
indirectly, entice or induce, or attempt to entice or induce, any employee of Corporation to leave
such employ, nor shall Officer employ any such person in any business similar to or in competition
with that of Corporation. Officer hereby acknowledges and agrees that the provisions set forth in
this Section 5 constitute a reasonable restriction on his ability to compete with Corporation and
will not adversely affect his ability to earn income sufficient to support himself and/or his
family.

          (d) The parties hereto agree that, in the event a court of competent jurisdiction shall
determine that the geographical or durational elements of this covenant are unenforceable, such
determination shall not render the entire covenant unenforceable. Rather, the excessive aspects of
the covenant shall be reduced to the threshold which is enforceable, and the remaining aspects
shall not be affected thereby.

     6. Trade Secrets and Customer Lists. Officer agrees to hold in strict confidence all
information concerning any matters affecting or relating to the business of Corporation and its
subsidiaries and affiliates, including, without limiting the generality of the foregoing, its
manner of operation, business plans, business prospects, agreements, protocols, processes, computer
programs, customer lists, market strategies, internal performance statistics, financial data,
marketing information and analyses, or other data, without regard to the capacity in which such
information was acquired. Officer agrees that he will not, directly or indirectly, use any such
information for the benefit of any person or entity other than Corporation or disclose or
communicate any of such information in any manner whatsoever other than to the directors, officers,
employees, agents, and representatives of Corporation who need to know such information, who shall
be informed by Officer of the confidential nature of such information and directed by Officer to
treat such information confidentially. Such information does not include information which (i) was
or becomes generally available to the public other than as a result of a disclosure by Officer or
his representatives, or (ii) was or becomes available to Officer on a non-confidential basis from a
source other than Corporation or its advisors provided that such source is not known to Officer to
be bound by a confidentiality agreement with Corporation, or otherwise prohibited from transmitting
the information to Officer by a contractual, legal or fiduciary obligation; notwithstanding the
foregoing, if any such information does become generally available to the public, Officer agrees
not to further discuss or disseminate such information except in the performance of his duties as
Officer. Upon Corporation’s request, Officer will return all information furnished to him related
to the business of Corporation. The parties hereto stipulate that all such information is material
and confidential and gravely affects the effective and successful conduct of the business of
Corporation and Corporation’s goodwill, and that any breach of the terms of this

11

 

Section 6 shall be
a material breach of this Agreement. The terms of this Section 6 shall remain in effect following
the termination of this Agreement.

     7. Use of Proprietary Information. Officer recognizes that Corporation possesses a
proprietary interest in all of the information described in Section 6 and has the exclusive right
and privilege to use, protect by copyright, patent or trademark, manufacture or otherwise exploit
the processes, ideas and concepts described therein to the exclusion of Officer, except as
otherwise agreed between Corporation and Officer in writing. Officer expressly agrees that any
products, inventions, discoveries or improvements made by Officer, his agents or affiliates based
on or arising out of the information described in Section 6 shall be (i) deemed a work made for
hire under the terms of United States Copyright Act, 17 U.S.C. § 101 et seq., and
Corporation shall be the owner of all such rights with respect thereto and (ii) the property of and
inure to the exclusive benefit of Corporation.

     8. Miscellaneous.

          8.1 Payment Obligations. Corporation’s obligation to pay Officer the compensation and
to make the arrangements provided herein shall be unconditional, and Officer shall have no
obligation whatsoever to mitigate damages hereunder. If litigation after a Change in Control shall
be brought to enforce or interpret any provision contained herein, Corporation, to the extent
permitted by applicable law and Corporation’s Articles of Incorporation and Bylaws, hereby
indemnifies Officer for Officer’s reasonable attorneys’ fees and disbursements incurred in such
litigation, if resolved in favor of Officer. Any such required payment shall be made to Officer by
the end of the calendar year following the calendar year in which there is a final and
nonappealable resolution of the litigation

          8.2 Waiver. The waiver of the breach of any provision of this Agreement shall not
operate or be construed as a waiver of any subsequent breach of the same or other provision hereof.

          8.3 Entire Agreement; Modifications. Except as otherwise provided herein, this
Agreement represents the entire understanding among the parties with respect to the subject matter
hereof, and this Agreement supersedes any and all prior understandings, agreements, plans and
negotiations, whether written or oral, with respect to the subject matter hereof, including without
limitation, that certain Employment Agreement between Corporation and Officer dated as of January
1, 2005 as amended December 31, 2008, and any understandings, agreements or obligations respecting
any past or future compensation, bonuses, reimbursements or other payments to Officer from
Corporation. All modifications to the Agreement must be in writing and signed by the party against
whom enforcement of such modification is sought.

          8.4 Notices. All notices and other communications under this Agreement shall be in
writing and shall be given by personal delivery, nationally recognized overnight courier,
telefacsimile or first class mail, certified or registered with return receipt requested, and shall
be deemed to have been duly given upon receipt in the event of personal delivery or overnight
courier, three days after mailing, or 12 hours after transmission of a telefacsimile to the
respective persons named below:

12

 

If to Corporation:

Healthcare Realty Trust Incorporated

3310 West End Avenue, Suite 700

Nashville, Tennessee 37203

Phone: (615) 269-8175

Fax: (615) 269-8122

If to Officer:

Todd J. Meredith

3505 Foxhall Rd.

Nashville, TN 37215

Phone: (615) 369-6946

Any party may change such party’s address for notices by notice duly give pursuant to this Section
8.4.

          8.5 Headings. The Section headings herein are intended for reference and shall not by
themselves determine the construction or interpretation of this Agreement.

          8.6 Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Tennessee.

          8.7 Arbitration. Any controversy or claim arising out of or relating to this
Agreement, or breach thereof, shall be settled by arbitration in Nashville, Tennessee in accordance
with the Rules of the American Arbitration Association, and judgment upon any proper award rendered
by the Arbitrators may be entered in any court having jurisdiction thereof. There shall be three
arbitrators, one to be chosen directly by each party at will, and the third arbitrator to be
selected by the two arbitrators so chosen. To the extent permitted by the Rules of the American
Arbitration Association, the selected arbitrators may grant equitable relief. Each party shall pay
the fees of the arbitrator selected by him and of his own attorneys, and the expenses of his
witnesses and all other expenses connected with the presentation of his case. The cost of the
arbitration including the cost of the record or transcripts thereof, if any, administrative fees,
and all other fees and costs shall be borne equally by the parties. To the extent that Officer
prevails with respect to any portion of an arbitration award, Officer shall be reimbursed by
Corporation for the costs and expenses incurred by Officer in connection with the arbitration in an
amount proportionate to the award to Officer as compared to the amount in dispute.

          8.8 Severability. Should a court or other body of competent jurisdiction determine
that any provision of this Agreement is excessive in scope or otherwise invalid or unenforceable,
such provision shall be adjusted rather than voided, if possible, and all other provisions of this
Agreement shall be deemed valid and enforceable to the extent possible.

          8.9 Survival of Corporation’s Obligations. Corporation’s obligations hereunder shall
not be terminated by reason of any liquidation, dissolution, bankruptcy, cessation of business, or
similar event relating to Corporation. This Agreement shall not be

13

 

terminated by any merger or consolidation or other reorganization of Corporation. In the event
any such merger, consolidation or reorganization shall be accomplished by transfer of stock or by
transfer of assets or otherwise, the provisions of this Agreement shall be binding upon and inure
to the benefit of the surviving or resulting corporation or person. This Agreement shall be binding
upon and inure to the benefit of the executors, administrators, heirs, successors and assigns of
the parties; provided, however, that except as herein expressly provided, this Agreement shall not
be assignable either by Corporation (except to an affiliate of Corporation in which event
Corporation shall remain liable if the affiliate fails to meet any obligations to make payments or
provide benefits or otherwise) or by Officer.

          8.10 Counterparts. This Agreement may be executed in one or more counterparts, all of
which taken together shall constitute one and the same Agreement.

          8.11 Withholdings. All compensation and benefits to Officer hereunder shall be reduced
only by all federal, state, local and other withholdings and similar taxes and payments that are
required by applicable law. Except as otherwise specifically agreed by Officer, no other offsets
or withholdings shall apply to reduce the payment of compensation and benefits hereunder.

          8.12 Indemnification. In addition to any rights to indemnification to which Officer is
entitled to under Corporation’s Articles of Incorporation and Bylaws, Corporation shall indemnify
Officer at all times during and after the term of this Agreement to the maximum extent permitted
under Section 2-418 of the General Corporation Law of the State of Maryland or any successor
provision thereof and any other applicable state law, and shall pay Officer’s expenses in defending
any civil or criminal action, suit, or proceeding in advance of the final disposition of such
action, suit, or proceeding, to the maximum extent permitted under such applicable state laws.

          8.13 Code Section 409A. Notwithstanding any provision of the Agreement to the
contrary, Officer’s rights with respect to compensation deferred under any plan of deferred
compensation as such term is defined in Code Section 409A shall be subject to Code Section 409A and
the regulations thereunder, and nothing in the Agreement shall be construed to the contrary. The
provisions of this Agreement shall be construed and applied in conformity with the requirements of
Code Section 409A, where applicable. Officer shall not be paid any deferred compensation, as such
term is defined in Code Section 409A, including severance compensation, if any, to the extent
earned and vested, until the date that is permissible under Code Section 409A. No election to
change the time or form of any payment under any other deferred compensation plan or arrangement
shall be of any force or effect unless made according to the terms and conditions of Code Section
409A, as applicable, including without limitation Code Section 409A(a)(4)(C).

          8.14 Certain Payments to Specified Employees. Notwithstanding any other provision of
this Agreement, no payment of any amount which constitutes deferred compensation for Code section
409A purposes will be made to any Specified Employee based upon a Separation from Service before
the date that is six months after the
date of Separation from Service (or, if earlier than the end
of the six-month period, the date of

14

 

death of the Specified Employee). For this purpose, any
individual who is not a Specified
Employee as of the date of a Separation from Service will not be treated as subject to this
requirement, even if the individual would have become a Specified Employee if services had
continued through the next Specified Employee effective date. Similarly, an individual who is
treated as a Specified Employee as of the date of a Separation from Service will be subject to this
requirement even if the person would not have been treated as a Specified Employee after the next
Specified Employee effective date had the person continued providing services. Notwithstanding the
foregoing, this paragraph does not apply to a payment made under any payment of employment taxes
provision. Any payments to which a Specified Employee would otherwise be entitled during the first
six months following the date of Separation from Service will be accumulated and paid on the first
day of the seventh month following the date of Separation from Service or, at the sole discretion
of the employer each payment to which a specified employee is otherwise entitled upon a Separation
from Service will be delayed by six months.

15

 

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

	 	 	 	 	 
	 	Corporation:

Healthcare Realty Trust Incorporated

 	 
	 	By:  	/s/ John M. Bryant, Jr.
 	 
	 	 	Name:  	John M. Bryant, Jr. 	 
	 	 	Title:  	Executive Vice President and General Counsel	 
	 	 	Date:   	May 6, 2011 	 
	 
	 	Officer:

 	 
	 	/s/ Todd J. Meredith
 	 
	 	Todd J. Meredith 	 
		Date: May 6, 2011 	 
	 

16exv10w1

Exhibit 10.1

AGREEMENT, RELEASE AND WAIVER

This Agreement, Release and Waiver (“Agreement”) is entered into by and between

PHI, Inc. (“PHI”)

And

William P. Sorenson, PHI Employee No. 7011 (“EMPLOYEE”)

PHI and the EMPLOYEE mutually agree to a severance of the EMPLOYEE’s employment with PHI pursuant
to and subject to the terms of this Agreement. You are advised to consult an attorney before
signing this Agreement.

	1.	 	PHI will pay the EMPLOYEE a lump sum retirement benefit equal to two (2) week’s of base pay
for each full year and partial year of service (pro-rated to the nearest one-tenth) calculated
through December 31, 2010, or EMPLOYEE’s actual termination date, whichever is earlier. A
week of base pay means the EMPLOYEE’S current monthly salary times 12, divided by 52.
	 
	2.	 	The EMPLOYEE who is participating in PHI’s group medical, dental and/or vision plans may
continue coverage under those plans as a Retiree, subject to the terms of the plans.

	 	(a)	 	PHI will pay 50% of the premium for the Retiree medical plan coverage elected
by the EMPLOYEE for the first eighteen (18) months (or shorter period) that Retiree
coverage is available. For any period of Retiree medical coverage that exceeds
eighteen (18) months, PHI will pay 50% of the applicable premium for “Employee Only”
coverage or “Employee plus one” coverage elected by the EMPLOYEE.
	 
	 	(b)	 	With respect to Retiree coverage under the dental and vision plans, the
EMPLOYEE is required to pay the full premium to maintain coverage.
	 
	 	(c)	 	Retiree coverage ends for the EMPLOYEE under the medical, dental and vision
plans on the date the EMPLOYEE is eligible to enroll in Medicare or the date the
Employee becomes eligible for medical, dental and/or vision coverage under another
employer’s group welfare plan of the same type.
	 
	 	(d)	 	If Retiree coverage under the medical plan ends because the EMPLOYEE becomes
Medicare eligible, the spouse (to whom the EMPLOYEE is married at the time he
terminates employment) can continue Retiree coverage under the medical plan until the
earlier of (i) five years from the date of the EMPLOYEE’s Medicare eligibility, (ii)
the date the spouse is eligible to enroll in Medicare or (iii) the date the spouse is
eligible for medical coverage under another employer’s group health plan.

 

 

Agreement, Release & Waiver

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March 15, 2010

	 	(e)	 	If Retiree coverage under the dental or vision plan ends because the
EMPLOYEE becomes Medicare eligible, the spouse shall have only such remaining
coverage as is available under COBRA, if any.
	 
	 	(f)	 	A Retiree’s right to medical, dental or vision benefits is subject to the
terms of the applicable welfare plan document. These plans are governed by and
subject to ERISA (the Employee Retirement Income Security Act of 1974, as amended).
Nothing in this Agreement shall be construed to modify or enlarge the rights and
benefits available under the plan documents, including, but not limited to, PHI’s
right to amend or terminate the welfare plans.
	 
	 	(g)	 	Retiree coverage runs concurrently with COBRA. To the extent the required
COBRA period has not ended, the Retiree or spouse can elect COBRA continuation
coverage for the remainder of the time her or she is eligible for COBRA by paying the
full COBRA premium.
	 
	 	(h)	 	Coverage for the EMPLOYEE’s dependents is limited to the COBRA period.

NOW, THEREFORE, in consideration for the mutual promises and agreements herein contained and other
good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows:

	1.	 	Date of Severance. EMPLOYEE and PHI mutually agree that EMPLOYEE’s employment with
PHI will end no later than December 31, 2010, and that EMPLOYEE must remain in PHI’s employ
through that date to be eligible for any benefits under this Agreement. However, should PHI
decide to terminate EMPLOYEE before December 31, 2010, or should EMPLOYEE die or become
physically or mentally unable to perform the duties of his job with PHI before December 31,
2010, benefits under this Agreement shall become available to EMPLOYEE as of the date of such
earlier event. Payment of severance benefits under this Agreement will be made within seven
(7) calendar days of the later of: 1) the date of the Employee’s actual termination; or 2) the
date of the execution of this Agreement.
	 
	2.	 	Requirement to Notify PHI of Alternative Health Coverage. EMPLOYEE agrees and
further declares that he will promptly notify PHI if he, his spouse or other dependent becomes
eligible to enroll in medical coverage under another employer’s group medical plan or becomes
eligible to enroll in Medicare.
	 
	3.	 	Exclusive Right to Payment from PHI. EMPLOYEE further declares that he has no right
to any salary, severance benefit or other payment or benefit (other
than his benefit under the PHI 401(k) Plan and as provided under COBRA) except as are
expressly set out in this Agreement.

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Agreement, Release & Waiver

Page 3 of 8

March 15, 2010

	4.	 	Release of Claims. EMPLOYEE does hereby unconditionally release, acquit and
forever discharge PHI, its subsidiaries or affiliates, as well as any successors or assigns,
together with all officers, directors, shareholders, managers, employees and agents thereof,
from any and all claims, demands, rights, liabilities, damages, injuries, costs, attorney’s
fees, or causes of action whatsoever, known or unknown, rising out of EMPLOYEE’S employment
relationship with PHI and/or the termination of that employment relationship, including
without limitation claims and demands relating to wages, benefits, or any other terms and
conditions of employment, any claims for breach of contract (either actual or implied),
wrongful discharge, intentional or negligent infliction of emotional harm, or any tort claims,
as well as any claims under Federal, State or local law prohibiting employment discrimination,
including specifically; (i) the Age Discrimination in Employment Act of 1967; (ii) the Older
Worker Benefit Protection Act of 1990; (iii) Title VII of the Civil Rights Act of 1964; (iv)
the Americans with Disabilities Act of 1990; (v) the Employment Retirement Income Security Act
of 1974, as amended; and (vi) any counterpart statutes under the laws of Louisiana or the
other states and localities in which PHI conducts business (including, but not limited to the
EMPLOYEE’S right to make a claim on his own behalf or by any third party on his behalf).
Notwithstanding the foregoing, the EMPLOYEE does not waive rights or claims that may arise
after the date this waiver is executed, but he does agree to waive any and all rights to
reinstatement or employment with PHI.
	 
	5.	 	Effect of Agreement on Certain Claims. This Agreement does not release workers’
compensation or unemployment compensation claims or waive any rights or claims that may arise
after the date this Agreement is executed. This Agreement also does not prohibit the EMPLOYEE
from filing a charge with a government agency, but this Agreement does release any claim which
the EMPLOYEE has or may have for monetary relief, reinstatement, or for any other remedy for
the EMPLOYEE personally, arising out of any proceeding before any government agency or court.
If any agency or court should take jurisdiction over any matter in which the EMPLOYEE has or
may have any personal interest, whether initiated by the EMPLOYEE or otherwise, the EMPLOYEE
will promptly inform that agency or court that this Agreement constitutes a full and final
settlement by the EMPLOYEE of all claims released under this Agreement (which released claims
do not include workers’ compensation and unemployment compensation claims and any claim that
may arise after the date this Agreement is executed). The EMPLOYEE will not participate
voluntarily or assist in the filing
or prosecution of any lawsuit brought against PHI based upon EMPLOYEE’s employment,
retirement or termination from employment.
	 
	 	 	The EMPLOYEE understands that this promise does not restrict his right to seek a
ruling determining whether this Agreement is legally valid. The EMPLOYEE understands that
any such action must be brought at the EMPLOYEE’s own expense and that if he should not
prevail, he will be liable for the attorney’s fees

3

 

Agreement, Release & Waiver

Page 4 of 8

March 15, 2010

	 	 	and other legal costs incurred by PHI,
provided such recovery is authorized by federal or other law because the EMPLOYEE’s
challenge was legally unwarranted or frivolous. If the EMPLOYEE prevails and obtains a
judgment against PHI, the EMPLOYEE agrees that the judgment amount shall be offset by the
value of the consideration provided under this Agreement and by any party released pursuant
to this Agreement. EMPLOYEE further agrees that, if the judgment amount is less than the
value of the consideration PHI provided, he may have no recovery from PHI.
	 
	6.	 	Covenant Not to Disclose Confidential Information. During the remainder of
EMPLOYEE’s employment with the PHI and thereafter, EMPLOYEE will not, except as required in
the performance of his job duties for PHI or as authorized in writing by an authorized agent
of PHI, use, publish or disclose any Confidential Information, as defined below, proprietary
information or trade secrets, whether original, duplicated, computerized, memorized,
handwritten, or in any other form, that EMPLOYEE may in any way acquire knowledge of as a
result of his employment with PHI.

“Confidential Information,” for purposes of this Agreement, shall mean all confidential
and/or proprietary information and materials, in whatever form, whether tangible or
intangible, of PHI or obtained from any person or entity to which the PHI owes a duty of
confidentiality, whether or not labeled or identified as proprietary or confidential,
including all copies, portions, extracts and derivatives thereof, except to the extent that
EMPLOYEE can prove that such information or materials (i) are or become generally known to
the public through lawful means and through no act or omission of EMPLOYEE, (ii) were part
of EMPLOYEE’s general knowledge prior to employment by PHI or (iii) are disclosed to
EMPLOYEE without restriction by a third party who rightfully possesses the information and
is under no duty of confidentiality with respect thereto.
	 
	 	 	“Confidential Information” specifically includes, but is not limited to, such information
related to PHI’s pricing and marketing strategies and characteristics, financial statements
and related information, profit margins, methods of operation and sales, production
processes, computer software, current and future
development and expansion or contraction plans, information concerning personnel
assignments, supplier and vendor information, and customer information such as names,
contact persons, needs and requirements, contract renewal dates for existing or prospective
customers, training manuals and related materials and any other information relating to
PHI’s business that is treated by PHI as confidential.
	 
	 	 	“Confidential Information” also includes all intellectual property of PHI,
whether or not patentable or registered under copyright or similar statutes including, but
not limited to, all inventions, improvements, discoveries, software developed by or for the
benefit of PHI and related source code and programming information,

4

 

Agreement, Release & Waiver

Page 5 of 8

March 15, 2010

	 	 	design technology and
know-how, trade secrets, formulas, manufacturing and/or design techniques, plans for
research and development of new products, works of authorship, other copyrighted materials
created by or for the benefit of PHI, and any other information or material considered
proprietary by PHI, designated Confidential Information by PHI, or not generally known by
the public.

	7.	 	Non-Solicitation Covenant. During EMPLOYEE’s employment with PHI and for two (2)
years following the termination of employment, EMPLOYEE agrees not to, directly or indirectly,
solicit or attempt to solicit any business from any of PHI’s customers, including actively
sought prospective customers, with whom EMPLOYEE has or had material contact during employment
with PHI for purposes of providing products or services that are competitive with those
provided by PHI within the Geographic Territory set forth below. For purposes of this
Agreement, the term “material contact” exists between EMPLOYEE and each customer: (i) that
EMPLOYEE regularly dealt with during the last twelve (12) months of EMPLOYEE’s employment with
PHI, (ii) whose dealings with PHI EMPLOYEE coordinated or supervised during the last twelve
(12) months of EMPLOYEE’s employment with PHI, or (iii) about whom EMPLOYEE has obtained
Confidential Information, proprietary information and/or trade secret information as a result
of EMPLOYEE’s association with PHI.

	8.	 	Non-Recruiting Covenant. EMPLOYEE recognizes and understands that PHI has invested
substantial time and effort in assembling its current personnel and that certain information
related its personnel constitutes Confidential Information as set forth above. Accordingly,
during EMPLOYEE’s employment and for two (2) years following the termination of EMPLOYEE’s
employment with the Company, EMPLOYEE agrees that EMPLOYEE will not directly or indirectly
recruit or otherwise induce any employee of PHI either working at the location where EMPLOYEE
is and/or was employed by PHI or about whom EMPLOYEE
has obtained Confidential Information as a result of EMPLOYEE’s employment with PHI to
terminate employment with PHI or to compete against PHI.

	9.	 	Covenant Not to Compete. EMPLOYEE agrees that during his employment with PHI and for
a period of two (2) years after the termination of such employment, EMPLOYEE will not provide
services to or become associated with any person, entity or company (either as a member,
partner, agent, employee, officer, contractor or consultant) engaged in a trade, business or
enterprise that is competitive with the Company’s business (providing helicopter services to
businesses engaged in and/or supporting the offshore production of oil and gas) within the
Geographic Territory set forth below. The prohibitions contained in this provision expressly
include, but are not limited to, employment with Bristow Group, Inc., Era Helicopters, LLC or
Tex-Air Helicopters, Inc. (and/or their related entities) in the Geographic Territory
described below.

5

 

Agreement, Release & Waiver

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March 15, 2010

	10.	 	Geographic Territory. For purposes of the Non-Solicitation Covenant and Covenant
Not to Compete, EMPLOYEE agrees to refrain from performing any of the restricted actions
within the following geographic areas:

	 	1.	 	Louisiana: The Parishes of Lafayette, Cameron,
Calcasieu, Vermillion, St. Mary, Jefferson, Houma, Terrebonne and Plaquemines.
	 
	 	2.	 	Texas: The Counties of Angelina, Bell, Brazos,
Collin, Fort Bend, Galveston, Harris, Jefferson, Matagorda, Montgomery,
Navarro, San Patricio, Tarrant, Victoria, and Williamson.
	 
	 	3.	 	Mississippi: The Counties of Hinds and Lauderdale.
	 
	 	4.	 	Alabama: The County of Mobile.
	 
	 	5.	 	Gulf of Mexico

	11.	 	Acknowledgement of Reasonableness of Covenants. EMPLOYEE agrees and acknowledges
that the limitations as to time, Geographical Territory and scope of activity to be restrained
are reasonable and are not greater than necessary to protect the goodwill or other business
interests PHI. EMPLOYEE further agrees and acknowledges that such investments are worthy of
protection, and that PHI’s need for the protection afforded is greater than any hardship
EMPLOYEE might experience by complying with its terms.

	12.	 	Breach of Agreement. In the event that the EMPLOYEE breaches any of the obligations
contained in this Agreement, PHI is entitled to cease all payments or benefits not yet paid
and obtain all other rights, remedies or relief permitted by law or equity.

	13.	 	Agreement Binding on Employee and Spouse. EMPLOYEE expressly represents and warrants
that he has entered into this Agreement individually, and for and on behalf of the benefit of
his marital community and that this Agreement is binding on his heirs and assigns.

	14.	 	Acceptance of Agreement. If EMPLOYEE decides to accept this Agreement, he must sign
it and return it by mail, postmarked no later than April 29, 2010 to PHI, Inc, Human Resources
Department, Attention: Ed Gatza, 2001 SE Evangeline Throughway, Lafayette, LA 70508. He may
return the signed Agreement in person by April 29, 2010 to Ed Gatza at PHI’s Administrative
Offices at the above address. If the EMPLOYEE does not sign and return the Agreement as
described above, this offer shall be null and void.

	15.	 	Remedies and Injunctive Relief. EMPLOYEE agrees that nothing in this Agreement is
intended to limit any remedy of PHI under any law concerning

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Agreement, Release & Waiver

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March 15, 2010

	 	 	Confidential Information,
proprietary rights, inventions, trade secrets, or other confidential information. EMPLOYEE
further agrees that breach of the restrictive covenants in this Agreement will irreparably
harm PHI for which PHI may not have an adequate remedy at law. As such, EMPLOYEE agrees that
PHI shall be entitled to any proper injunction, including but not limited to temporary,
preliminary, final injunctions, temporary restraining orders, and temporary protective orders,
to enforce said covenants in the event of breach or threatened breach by EMPLOYEE, in addition
to any other remedies available to PHI at law or in equity. The restrictive covenants
contained in this Agreement are independent of any other obligations between the parties, and
the existence of any other claim or cause of action against PHI is not a defense to
enforcement of these covenants by injunction.

	16.	 	Entire Agreement. This Agreement sets forth the entire agreement between the parties
hereto, and fully supercedes any and all prior discussions, agreements or understandings
between the parties. EMPLOYEE acknowledges that this release constitutes a waiver of all
claims against PHI, including any claim of age discrimination.

	17.	 	Acknowledgement of Effect of Executing Agreement. This Agreement was first tendered
to EMPLOYEE on March 15, 2010. EMPLOYEE has forty-five (45) days in which to consider this
Agreement and the accompanying information.
Failure of EMPLOYEE to execute this Agreement within the forty-five (45) day period
specified above shall result in automatic revocation of the offer. EMPLOYEE additionally
acknowledges that he has been advised by PHI to consult with an attorney prior to executing
this Agreement.

	18.	 	Right of Revocation. EMPLOYEE understands that by law, he may revoke this Agreement
at any time within seven calendar days of signing it. To be effective, EMPLOYEE’S revocation
must be in writing and delivered to PHI, Inc., 2001 SE Evangeline Throughway, Lafayette, LA
70508, to the attention of Ed Gatza, either by hand or by mail within that seven (7) day
period. If sent by mail, the revocation must be: (i) postmarked within the seven (7) day
period; (ii) properly addressed as set forth above; and (iii) sent by certified mail, return
receipt requested.

	19.	 	Severability. If any of the provisions of this Agreement is found to be invalid or
unenforceable, it shall not affect the validity of the other provisions of this Agreement
which shall remain enforceable.

	20.	 	Applicable Law. This Agreement shall be governed by the laws of the State of
Louisiana.

	21.	 	Accompanying Information. EMPLOYEE acknowledges receipt of the information
contained in Appendix A listing (i) the job classifications of individuals affected by the
termination program; (ii) job classifications and ages

7

 

Agreement, Release & Waiver

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March 15, 2010

	 	 	of these individuals being terminated
due to this program; and (iii) the ages of all individuals in the same job classifications who
have not been selected for termination due to this program.

The undersigned EMPLOYEE state that he has carefully read the foregoing and understands the
contents thereof, and has entered into this Agreement voluntarily.

IN WITNESS WHEREOF, the parties have executed this AGREEMENT, RELEASE, AND WAIVER.

PHI, INC.

	 	 	 
	/s/ Richard A. Rovinelli
 

Richard A. Rovinelli

Chief Administrative Officer/Director, Human Resources

	 	March 15, 2010
 

DATE
	 
	 	 
	EMPLOYEE:
	 	 
	 
	 	 
	/s/ W. Pete Sorenson
 

William P. Sorenson, PHI EMPLOYEE No. 7011

	 	March 23, 2010
 

DATE

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]