Document:

EX-10.5

MILACRON INC.

NOTICE OF AWARD OF DEFERRED SHARES FOR DIRECTORS

(under the Milacron Inc. 2004 Long-Term Incentive Plan)

THIS NOTICE OF AWARD (“Notice of Award”) is made as of February 14, 2005 (the “Date of Grant”)
by and between Milacron Inc., a Delaware corporation (the “Company”) and      (the
“Director”).

WITNESSETH:

WHEREAS, the Company desires to grant to the Director a contingent right to receive shares of
Common Stock, as hereinafter provided, to carry out the purposes of the Milacron Inc. 2004
Long-Term Incentive Plan (the “Plan”).

NOW, THEREFORE, subject to and upon the terms, conditions and restrictions set forth in the
Plan and the Deferred Shares Agreement attached as Exhibit A and incorporated herein (the
“Agreement”), and for other good and valuable consideration, the Company hereby grants to the
Director as of the Date of Grant      Deferred Shares. Each Deferred Share shall represent the
contingent right to receive one share of Common Stock.

IN WITNESS WHEREOF, the Company has caused this Notice of Award to be executed on its behalf
by its duly authorized officer and the Director has also executed this Notice of Award in
duplicate, as of the day and year first above written.

MILACRON INC.

By:

Name:

Title:

The undersigned hereby acknowledges receipt of an executed original of this Notice of Award
and related Agreement and accepts the award on the terms and conditions set forth herein, in the
Agreement and in the Plan.

Director

Date:

1

EXHIBIT A

MILACRON INC.

DEFERRED SHARES AGREEMENT

1. Vesting of Deferred Shares. The Deferred Shares shall vest in full if the Director has
continuously served on the Board during the period beginning on the Date of Grant and ending on the
earliest to occur of the following dates (the “Vesting Date”): (i) the third anniversary of the
Date of Grant; (ii) the date of the Director’s death; (iii) the date of the Director’s disability
(as determined in good faith by the Board); (iv) the date that the Director voluntarily terminates
service with the Board after having served at least six full years with the Board as a non-employee
Director or after having reached mandatory retirement age as defined under the Board’s retirement
policy for non-employee Directors as of such date; or (v) subject to the approval of the Board, the
date that the Director voluntarily terminates service with the Board.

2. Forfeiture of Deferred Shares. The Deferred Shares shall be forfeited if the Director
ceases to continuously serve on the Board prior to the Vesting Date.

3. Settlement of Deferred Shares. To the extent the Deferred Shares have vested in accordance
with Section 1 hereof, and subject to the terms and conditions of this Agreement, the shares of
Common Stock underlying the Deferred Shares shall be delivered to the Director within 20 days
following the date on which the Director ceases to be a member of the Board. Notwithstanding
anything in this Section 3 to the contrary, (a) the date on which a Director ceases to be a member
of the Board shall be deemed to have not occurred for purposes of this Agreement unless such
cessation constitutes a “separation from service” within the meaning of Section 409A(a)(2)(A)(i) of
the Code and any regulations or other guidance issued thereunder, and (b) if the Director is a
“specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code and any regulations
or other guidance issued thereunder, the Company shall not deliver the shares of Common Stock
earlier than the date which is 6 months after the date of such Director’s separation from service
(or, if earlier, the date of death of the Director).

4. Transferability. The Deferred Shares may not be sold, exchanged, assigned, transferred,
pledged, encumbered or otherwise disposed of by the Director; provided, however,
that the Director’s rights with respect to such Deferred Shares may be transferred by will or
pursuant to the laws of descent and distribution. Any purported transfer or encumbrance in
violation of the provisions of this Section 4 shall be void, and the other party to any such
purported transaction shall not obtain any rights to or interest in such Deferred Shares.

5. Dividend, Voting and Other Rights. The Director shall not possess any incidents of
ownership (including, without limitation, dividend and voting rights) in the shares of Common Stock
underlying the Deferred Shares until such shares have been delivered to the Director in accordance
with Section 3 hereof.

6. No Service Contract. Nothing contained in this Agreement shall confer upon the Director
any right with respect to continuance of service on the Board, nor limit or affect in any manner
the right of the Company or its stockholders to terminate the service or adjust the compensation of
the Director.

7. Taxes and Withholding. To the extent that the Company shall be required to withhold any
federal, state, local or other taxes in connection with the delivery of the shares of Common Stock
as provided herein, and the amounts available to the Company for such withholding are insufficient,
it shall be a condition to the delivery of the shares that the Director shall pay such taxes or
make provisions that are satisfactory to the Company for the payment thereof.

8. Compliance with Law. The Company shall make reasonable efforts to comply with all
applicable federal and state securities laws and listing requirements of the New York Stock
Exchange or any national securities exchange in connection with this Agreement; provided,
however notwithstanding any other provision of this Agreement, the shares of Common Stock
underlying the Deferred Shares shall not be delivered to the Director if the delivery thereof would
result in a violation of any such law or listing requirement. Notwithstanding anything contained
herein to the contrary, this Agreement shall be construed, administered, and governed in a manner
that is consistent with, and that satisfies the requirements of, Section 409A of the Code and any
regulations or other guidance issued thereunder, so that taxation of the Director is deferred under
this Agreement until delivery of the shares of Common Stock as provided hereunder. Any provision
herein or in the Plan that would cause this Agreement to fail to satisfy the requirements of
Section 409A of the Code and any regulations or other guidance issued thereunder shall have no
force and effect until amended to comply with such requirements (which amendment may be retroactive
to the extent permitted by Section 409A of the Code and may be made by the Board without the
consent of the Director).

9. Amendments. Subject to the terms of the Plan, the Board may modify the Notice of Award and
this Agreement upon written notice to the Director. Any amendment to the Plan shall be deemed to
be an amendment to the Notice of Award and this Agreement to the extent that the amendment is
applicable hereto. Notwithstanding the foregoing, and subject to Section 8 hereof, no amendment of
the Plan, the Notice of Award or this Agreement shall adversely affect the rights of the Director
under the Notice of Award and this Agreement without the Director’s consent; provided,
however, the Board may modify the Plan, Notice of Award and this Agreement without the
consent of the Director to extent such amendment is necessary to comply with Section 409A of the
Code.

10. Severability. In the event that one or more of the provisions of this Agreement shall be
invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall
be deemed to be separable from the other provisions hereof, and the remaining provisions hereof
shall continue to be valid and fully enforceable.

11. Relation to Plan. This Agreement and related Notice of Award are subject to the terms and
conditions of the Plan. This Agreement, the Notice of Award and the Plan contain the entire
agreement and understanding of the parties with respect to the subject matter contained in this
Agreement, and supersede all prior communications, representations and negotiations in respect
thereto. In the event of any inconsistency between the provisions of this Agreement, the Notice of
Award and the Plan, the Plan shall govern. Capitalized terms used in this Agreement and related
Notice of Award without definition shall have the meanings assigned to them in the Plan. The Board
acting pursuant to the Plan, as constituted from time to time, shall, except as expressly provided
otherwise herein, have the right to determine any questions which arise in connection with the
grant of Deferred Shares.

12. Successors and Assigns. Without limiting Section 4 hereof, the provisions of this
Agreement shall inure to the benefit of, and be binding upon, the successors, administrators,
heirs, legal representatives and assigns of the Director, and the successors and assigns of the
Company.

13. Governing Law. The interpretation, performance, and enforcement of this Agreement shall
be governed by the laws of the State of Delaware, without giving effect to the principles of
conflict of laws thereof.

14. Notices. Any notice to the Company provided for herein shall be in writing to the Company
and any notice to the Director shall be addressed to the Director at his or her address on file
with the Company. Except as otherwise provided herein, any written notice shall be deemed to be
duly given if and when delivered personally or deposited in the United States mail, first class
certified or registered mail, postage and fees prepaid, return receipt requested, and addressed as
aforesaid. Any party may change the address to which notices are to be given hereunder by written
notice to the other party as herein specified (provided that for this purpose any mailed notice
shall be deemed given on the third business day following deposit of the same in the United States
mail).

15. Unsecured Creditor. The Director acknowledges that no assets of the Company shall be
segregated for the purpose of delivering shares of Common Stock under this Agreement or shall be
held (or deemed to be held) in trust for the benefit of the Director. It is the intention of the
Director and the Company that all payment obligations under this Agreement shall constitute at all
times general unsecured obligations of the Company.

[END OF DOCUMENT]

2EX-10.1

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (the “Agreement”) entered into as of February 14, 2005, by and between
First Potomac Realty Investment Limited Partnership, a Delaware limited partnership, (the
“Company”) and Joel F. Bonder (“Executive”).

WHEREAS, First Potomac Realty Trust, a Maryland real estate investment trust, (the “Trust”) is
the Company’s general partner;

WHEREAS, the parties desire to enter into an agreement to reflect Executive’s executive
capacities in the Trust’s business and to provide for Executive’s employment by the Company, upon
the terms and conditions set forth herein; and

WHEREAS, Executive has agreed to certain confidentiality, non-competition and non-solicitation
covenants contained hereunder, in consideration of the additional benefits provided to Executive
under this Agreement;

NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

1. Employment. The Company hereby agrees to employ Executive, and Executive hereby
accepts such employment and agrees to perform Executive’s duties and responsibilities, in
accordance with the terms, conditions and provisions hereinafter set forth.

1.1. Employment Term. This Agreement shall be effective as of January 4, 2005 and
shall continue until October 8, 2005, unless the Agreement is terminated sooner in accordance with
Section 2 or 3 below. In addition, the term of the Agreement shall automatically renew for periods
of one (1) year unless either party gives written notice to the other party, at least ninety (90)
days prior to the end of the initial term or at least ninety (90) days prior to the end of any one
(1) year renewal period, that the Agreement shall not be further extended. The period commencing
on the effective date and ending on the date on which the term of Executive’s employment under the
Agreement shall terminate is hereinafter referred to as the “Employment Term.” If a Change in
Control (as defined in Section 3) occurs, the Employment Term shall be automatically extended to
the later of (i) the end of the then existing initial or renewal period or (ii) the date that is
one (1) year after the Change in Control, unless the Employment Term is sooner terminated according
to Section 2 or 3 below.

1.2. Duties and Responsibilities. During the Employment Term, Executive shall serve
as the Senior Vice President, General Counsel and Secretary of the Trust and shall be employed at
the Company. The Executive’s principal employment duties and responsibilities shall be those
duties and responsibilities customary for the position of Senior Vice President, General Counsel
and Secretary and such other executive duties and responsibilities as the Chief Executive Officer
of the Trust shall reasonably assign to the Executive. Executive shall perform all duties and
accept all responsibilities incident to such position as may be reasonably assigned to him by the
Chief Executive Officer of the Trust. The Executive shall report directly to the Chief Executive
Officer of the Trust.

1.3. Extent of Service. Executive agrees to use Executive’s best efforts to carry out
Executive’s duties and responsibilities under Section 1.2 hereof and, consistent with the other
provisions of this Agreement, to devote substantially all of Executive’s business time, attention
and energy thereto. The foregoing shall not be construed as preventing Executive from making
investments in other businesses or enterprises, provided that Executive agrees not to become
engaged in any other business activity which, in the reasonable judgment of the Chief Executive
Officer of the Trust, is likely to interfere with Executive’s ability to discharge Executive’s
duties and responsibilities to the Company and the Trust.

1.4. Base Salary. For all the services rendered by Executive hereunder, the Company
shall pay Executive a base salary (“Base Salary”), commencing on date above, at the annual rate of
$200,000, payable in installments at such times as the Company customarily pays its other senior
level executives. Executive’s Base Salary shall be reviewed annually for appropriate increases by
the Board of Trustees of the Trust (the “Board”) (or the compensation committee of the Board)
pursuant to the Board’s normal performance review policies for senior level executives.

1.5. Annual Incentive Award. Executive shall be entitled to receive an annual cash
incentive bonus for each fiscal year during the Employment Term consistent with a bonus policy
adopted by the Board (or the compensation committee of the Board) (the “Bonus Policy”). If the
Executive or the Company, as the case may be, satisfies the performance criteria contained in such
Bonus Policy for a fiscal year, Executive shall receive an annual incentive bonus in an amount
determined by the Board (or the compensation committee of the Board). If the Executive or the
Company, as the case may be, fails to satisfy the performance criteria contained in such Bonus
Policy for a fiscal year, the Board (or the compensation committee of the Board) may determine
whether any incentive bonus shall be payable to Executive for that year. For purposes of this
Agreement, the term “Incentive Bonus” shall mean the amount established pursuant to this Section
1.5.

1.6. Retirement, Welfare and Other Benefit Plans and Programs. During the Employment
Term, Executive shall be entitled to participate in all employee retirement and welfare benefit
plans and programs made available to the Company’s senior level executives as a group or to its
employees generally, as such retirement and welfare plans may be in effect from time to time and
subject to the eligibility requirements of the plan. During the Employment Term, Executive shall
be entitled to vacation and sick leave in accordance with the Company’s vacation, holiday and other
pay for time not worked policies. Nothing in this Agreement shall prevent the Company from
amending or terminating any retirement, welfare or other employee benefit plans or programs from
time to time as the Company deems appropriate.

1.7. Reimbursement of Expenses. Executive shall be provided with reimbursement of
reasonable expenses related to Executive’s employment by the Company on a basis no less favorable
than that which may be authorized from time to time for senior level executives as a group.

1.8. Incentive Compensation.

(a) Initial Option. At hire, the Trust shall grant to Executive an option (the
“Initial Option”) to purchase 50,000 Shares, at a price per Share equal to the trading price on
January 4, 2005. The Initial Option shall become exercisable with respect to 1/4 of the Shares on
the first anniversary of the date of grant and the remaining 3/4 of the Shares shall become
exercisable in increments of 6.25% on the same day as the date of grant of every third month,
beginning with the third month that commences after the first anniversary of the date of grant,
provided that the Executive is employed by or providing service to the Company or Trust on each
such date. All other terms and conditions of the Initial Option shall be governed by the Trust’s
standard stock option agreement for such grants.

(b) Executive shall be entitled to participate in any short-term and long-term incentive
programs (including without limitation the 2003 Equity Compensation Plan and any subsequently
implemented stock option plans) established by the Company or the Trust for the Company’s senior
level executives generally, at levels commensurate with the benefits provided to other senior
executives and with adjustments appropriate for his position as specified in Section 1.2.

2. Termination. Executive’s employment shall terminate upon the occurrence of any of
the following events:

2.1. Termination Without Cause; Resignation for Good Reason.

(a) The Company may remove Executive at any time without Cause (as defined in Section 2.7)
from the position in which Executive is employed hereunder (in which case the Employment Term shall
be deemed to have ended) not less than thirty (30) days’ prior written notice to Executive;
provided, however, that, in the event that such notice is given, Executive shall be under no
obligation to render any additional services to the Company and shall be allowed to seek other
employment. In addition, Executive may initiate termination of employment by resigning under this
Section 2.1 for Good Reason (as defined in Section 2.7). Executive shall give the Company not less
than thirty (30) days’ prior written notice of such resignation.

(b) Upon any removal or resignation described in Section 2.1(a) above, Executive shall be
entitled to receive only the amount due to Executive under the Company’s then current severance pay
plan for employees, if any. No other payments or benefits shall be due under this Agreement to
Executive, but Executive shall be entitled to any benefits accrued or earned in accordance with the
terms of any applicable benefit plans and programs of the Company.

(c) Notwithstanding the provisions of Section 2.1(b), in the event that Executive executes and
does not revoke a written release upon such removal or resignation, substantially in the form
attached hereto as Exhibit A (the “Release”), of any and all claims against the Company and all
related parties with respect to all matters arising out of Executive’s employment by the Company,
or the termination thereof (other than claims for any entitlements under the terms of this
Agreement or under any plans or programs of the Company under which Executive has accrued a
benefit), Executive shall be entitled to receive, in lieu of the payment described in Section
2.1(b), the following:

(i) One (1) times Executive’s Base Salary, at the rate in effect immediately before
Executive’s termination of employment, payable in equal installments, consistent with the Company’s
past payroll practices, over the twelve (12) month period after the Executive’s Date of
Termination, commencing with the first payroll period that occurs after the period during which
Executive’s right to revoke his acceptance of the terms of the Release has expired.
Notwithstanding the foregoing, the Company may determine, in its sole discretion and at any time,
to provide that the amounts payable under this subsection (i) shall be paid to Executive in a lump
sum, as opposed to installments over the twelve (12) month period.

(ii) Pro rated Incentive Pay (as defined in Section 2.7) for the year in which Executive’s
Date of Termination occurs. The pro rated Incentive Pay shall be based on the Executive’s
Incentive Pay for the fiscal year in which Executive’s Date of Termination occurs, multiplied by a
fraction, the numerator of which is the number of days during which Executive was employed by the
Company in the fiscal year of his termination and the denominator of which is 365. Such pro rated
Incentive Pay shall be paid to Executive in equal installments, consistent with the Company’s past
payroll practices, over the twelve (12) month period after the Executive’s Date of Termination,
commencing with the first payroll period that occurs after the period during which Executive’s
right to revoke his acceptance of the terms of the Release has expired. Notwithstanding the
foregoing, the Company may determine, in its sole discretion and at any time, to provide that the
amounts payable under this subsection (ii) shall be paid to Executive in a lump sum, as opposed to
installments over the twelve (12) month period.

(iii) For a period of twelve (12) months following the Date of Termination, Executive shall
continue to receive the medical coverage in effect at the date of his termination (or generally
comparable coverage) for himself and, where applicable, his spouse and dependents, as the same may
be changed from time to time for employees generally, as if Executive had continued in employment
during such period; or, as an alternative, the Company may elect to pay Executive cash in lieu of
such coverage in an amount equal to Executive’s after-tax cost of continuing such coverage, where
such coverage may not be continued (or where such continuation would adversely affect the tax
status of the plan pursuant to which the coverage is provided). The COBRA health care continuation
coverage period under section 4980B of the Internal Revenue Code of 1986, as amended, (the “Code”)
shall run concurrently with the foregoing twelve (12) month benefit period.

(iv) Notwithstanding any provision to the contrary in any applicable plan, program or
agreement, all outstanding stock options, restricted stock and other equity rights held by the
Executive as of Executive’s Date of Termination shall become fully vested and/or exercisable, as
applicable, as of Executive’s Date of Termination. All outstanding stock options and other equity
rights that have an exercise period shall remain exercisable for the shorter of: (A) three (3)
years from the Executive’s Date of Termination or (B) the end of their applicable original term.

(v) Executive shall receive any other amounts earned, accrued or owing but not yet paid under
Section 1 above and any benefits accrued or earned in accordance with the terms of any applicable
benefit plans and programs of the Company.

2.2. Voluntary Termination. Executive may voluntarily terminate his employment for
any reason upon thirty (30) days’ prior written notice. In such event, after the effective date of
such termination, except as provided in Section 2.1 with respect to a resignation for Good Reason,
no further payments shall be due under this Agreement, except that Executive shall be entitled to
any benefits due in accordance with the terms of any applicable benefit plans and programs of the
Company.

2.3. Disability. The Company may terminate Executive’s employment if Executive has
been unable to perform the material duties of his employment for a period of three (3) consecutive
months in any 12-month period because of physical or mental injury or illness (“Disability”);
provided, however, that the Company shall continue to pay Executive’s Base Salary until the Company
acts to terminate Executive’s employment. Executive agrees, in the event of a dispute under this
Section 2.3 relating to Executive’s Disability, to submit to a physical examination by a licensed
physician jointly selected by the Board and Executive. If the Company terminates Executive’s
employment for Disability, Executive shall be entitled to receive the following:

(a) The Company shall pay to Executive any amounts earned, accrued or owing but not yet paid
under Section 1 above and pro rated Incentive Pay for the fiscal year in which his Date of
Termination occurs, calculated according to Section 2.1(c)(ii) above.

(b) All outstanding stock options, restricted stock and other equity rights held by the
Executive as of Executive’s Date of Termination shall become fully vested and/or exercisable, as
applicable, as of Executive’s Date of Termination. All outstanding stock options and other equity
rights that have an exercise period shall remain exercisable for the shorter of: (A) three (3)
years from the Executive’s Date of Termination or (B) the end of their applicable original term.

(c) Executive shall receive any other benefits accrued or earned in accordance with the terms
of any applicable benefit plans and programs of the Company.

2.4. Death. If Executive dies while employed by the Company, the Company shall pay to
Executive’s executor, legal representative, administrator or designated beneficiary, as applicable,
(i) any amounts earned, accrued or owing but not yet paid under Section 1 above and any benefits
accrued or earned under the Company’s benefit plans and programs, (ii) a pro rated Incentive Pay
for the fiscal year in which Executive’s death occurs, which bonus shall be calculated according to
Section 2.1(c)(ii) above and (iii) all outstanding stock options, restricted stock and other equity
rights held by the Executive as of Executive’s Date of Termination shall become fully vested and/or
exercisable, as applicable, as of Executive’s Date of Termination and all outstanding stock options
and other equity rights that have an exercise period shall remain exercisable for the shorter of:
(A) three (3) years from the Executive’s Date of Termination or (B) the end of their applicable
original term. Otherwise, the Company shall have no further liability or obligation under this
Agreement to Executive’s executors, legal representatives, administrators, heirs or assigns or any
other person claiming under or through Executive.

2.5. Cause. The Company may terminate Executive’s employment at any time for Cause
upon written notice to Executive, in which event all payments under this Agreement shall cease,
except for Base Salary to the extent already accrued. Executive shall be entitled to any benefits
accrued or earned before his termination in accordance with the terms of any applicable benefit
plans and programs of the Company.

2.6. Notice of Termination. Any termination of Executive’s employment shall be
communicated by a written notice of termination to the other party hereto given in accordance with
Section 9. The notice of termination shall (i) indicate the specific termination provision in this
Agreement relied upon, (ii) briefly summarize the facts and circumstances deemed to provide a basis
for a termination of employment and the applicable provision hereof, and (iii) specify the Date of
Termination in accordance with the requirements of this Agreement.

2.7. Definitions.

(a) “Cause” shall mean any of the following grounds for termination of Executive’s employment:

(i) Executive shall have been convicted of, or a plea of guilty or nolo contendre to, a
felony,

(ii) Executive intentionally and continually fails substantially to perform his reasonably
assigned material duties to the Company (other than a failure resulting from Executive’s incapacity
due to physical or mental illness), which failure has been materially and demonstrably detrimental
to the Company and has continued for a period of at least thirty (30) days after a written notice
of demand for substantial performance, signed by a duly authorized officer of the Trust, has been
delivered to Executive specifying the manner in which Executive has failed substantially to
perform,

(iii) Executive engages in willful misconduct in the performance of his duties, or

(iv) Executive breaches any non-competition, non-disclosure or non-solicitation agreement in
effect with the Company.

(b) “Date of Termination” shall mean the date that the termination of Executive’s employment
with the Company is effective on account of the Executive’s death, Executive’s Disability,
termination by the Company for Cause or without Cause or by the Executive for Good Reason or
without Good Reason, as the case may be. The Employment Term shall end on the Date of Termination.

(c) “Good Reason” shall mean the occurrence of any of the following events or conditions,
unless Executive has expressly consented in writing thereto or unless the event is remedied by the
Company promptly after receipt of notice thereof given by Executive:

(i) a substantial reduction in Executive’s Base Salary;

(ii) a demotion of Executive;

(iii) a material reduction of Executive’s duties hereunder;

(iv) the Company’s requiring Executive to be based at a location other than in the Washington,
D.C. metropolitan area;

(v) the non-renewal of the Agreement by the Company in accordance with Section 1.1; or

(vi) any material breach of this Agreement by the Company.

(d) “Incentive Pay” shall mean the greater of (i) Executive’s maximum Incentive Bonus for
which Executive was eligible during the period that includes the Date of Termination or (ii) the
highest aggregate bonus or incentive payment paid to Executive during any of the three (3) full
calendar years prior to his Date of Termination. For purposes of this definition, “Incentive Pay”
does not include any stock option, stock appreciation, stock purchase, restricted stock or similar
plan, program, arrangement or grant, one time bonus or payment (including, but not limited to, any
sign-on bonus), any amounts contributed by the Company for the benefit of Executive to any
qualified or nonqualified deferred compensation plan, or any amounts designated by the parties as
amounts other than Incentive Pay.

3. Change in Control.

3.1 Effect of Change in Control. If a Change in Control occurs and Executive’s
employment terminates under the circumstances described below, the provisions of this Section 3
shall apply, instead of the provisions of Section 2.1.

3.2 Termination Without Cause Upon or After a Change in Control. Upon or after a
Change in Control, the Company (by action of the Board) may remove Executive at any time without
Cause from the position in which Executive is employed hereunder (in which case the Employment Term
shall be deemed to have ended) upon not less than sixty (60) days’ prior written notice pursuant to
Section 9 to Executive; provided, however, that, in the event that such notice is given, Executive
shall be under no obligation to render any additional services to the Company and shall be allowed
to seek other employment. This provision shall not apply if Executive’s employment is terminated
by the Company on account of the Executive’s death or Disability.

3.3 Resignation for Good Reason Upon or After a Change in Control. Upon or after a
Change in Control, Executive may initiate termination of employment by resigning under this Section
3 for Good Reason. Executive shall give the Company not less than sixty (60) days’ prior written
notice pursuant to Section 9 of such resignation.

3.4 Benefits Payable Upon Termination Without Cause or Resignation for Good Reason Upon or
After a Change in Control.

(a) Upon any removal or resignation described in Section 3.2 or 3.3 above, Executive shall be
entitled to receive only the amount due to Executive under the Company’s then current severance pay
plan for employees, if any. No other payments or benefits shall be due under this Agreement to
Executive, but Executive shall be entitled to any benefits accrued or earned in accordance with the
terms of any applicable benefit plans and programs of the Company.

(b) Notwithstanding the provisions of Section 3.4(a), in the event of a removal or resignation
described in Section 3.2 or 3.3 that occurs (i) (A) not more than six (6) months prior to the date
on which a Change in Control occurs or (B) following the commencement of any discussion with a
third person that ultimately results in a Change in Control, or (ii) upon or after a Change in
Control if the termination occurs within the one (1) year period after the Change in Control,
Executive shall be entitled to receive the severance benefits described below, in lieu of the
payment described in Section 3.4(a), if Executive executes and does not revoke a written Release
upon such removal or resignation. If Executive is entitled to the benefits described in this
Section 3.4(b) by reason of clause (i) above, Executive shall receive the compensation and benefits
described in Section 2.1(c) above after his Date of Termination, in accordance with the provisions
of Section 2.1(c), regardless of whether the Change in Control actually occurs, and Executive shall
receive the additional compensation and benefits described in this Section 3.4(b) only if the
Change in Control is consummated and shall receive such additional amounts after the consummation
of the Change in Control, in accordance with the provisions of this Section 3.4(b). For purposes
of clause (i)(B) above, to be eligible to receive the amounts described in this Section 3.4(b), the
Change in Control must be consummated within the twelve (12) month period following the Executive’s
Date of Termination. Payment of the lump sum benefits described below (other than as described in
subsection (ii) below) shall be made within thirty (30) days after the Executive’s Date of
Termination or the end of the revocation period for the Release, if later.

(i) Executive shall receive a lump sum cash payment equal to (x) two (2) times Executive’s
Base Salary at the rate in effect immediately before Executive’s termination of employment and (y)
two (2) times Executive’s Incentive Pay.

(ii) Executive shall receive his pro rated Incentive Pay for the year in which Executive’s
Date of Termination occurs. The pro rated Incentive Pay shall be based on the Executive’s
Incentive Pay for the fiscal year in which Executive’s Date of Termination occurs, multiplied by a
fraction, the numerator of which is the number of days during which Executive was employed by the
Company in the fiscal year of his termination and the denominator of which is 365. Payment shall
be made within thirty (30) days after the effective date of the termination (or the end of the
revocation period for the Release, if later).

(iii) For a period of twenty-four (24) months following the Date of Termination, Executive
shall continue to receive the medical coverage in effect at the date of his termination (or
generally comparable coverage) for himself and, where applicable, his spouse and dependents, as the
same may be changed from time to time for employees generally, as if Executive had continued in
employment during such period; or, as an alternative, the Company may elect to pay Executive cash
in lieu of such coverage in an amount equal to Executive’s after-tax cost of continuing such
coverage, where such coverage may not be continued (or where such continuation would adversely
affect the tax status of the plan pursuant to which the coverage is provided). The COBRA health
care continuation coverage period under section 4980B of the Code shall run concurrently with the
foregoing twenty-four (24) month benefit period.

(iv) All outstanding stock options and other equity rights held by the Executive as of his
Date of Termination that have an exercise period shall remain exercisable for the shorter of: (A)
five (5) years from the Executive’s Date of Termination or (B) the end of their applicable original
term.

(v) Executive shall receive any other amounts earned, accrued or owing but not yet paid under
Section 1 above and any benefits accrued or earned in accordance with the terms of any applicable
benefit plans and programs of the Company.

3.5 Acceleration of Vesting and Exercisability on a Change in Control.
Notwithstanding any provision to the contrary in any applicable plan, program or agreement, upon
the occurrence of a Change in Control, all outstanding stock options, restricted stock and other
equity rights held by the Executive will become fully vested and/or exercisable, as applicable, on
the date in which the Change in Control occurs.

3.6 Increase in Payments Upon a Change in Control.

(a) Anything in this Agreement to the contrary notwithstanding, in the event that it shall be
determined that any payment or distribution by the Company to or for the benefit of Executive,
whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or
otherwise (a “Payment”), would constitute an “excess parachute payment” within the meaning of
section 280G of the Code, the Company shall pay Executive an additional amount (the “Gross-Up
Payment”) such that the net amount retained by Executive after deduction of any excise tax imposed
under section 4999 of the Code, and any federal, state and local income tax, employment tax and
excise tax imposed upon the Gross-Up Payment, shall be equal to the Payment. For purposes of
determining the amount of the Gross-Up Payment, Executive shall be deemed to pay federal income tax
and employment taxes at the highest marginal rate of federal income and employment taxation in the
calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the
highest marginal rate of taxation in the state and locality of Executive’s residence on Executive’s
Date of Termination, net of the maximum reduction in federal income taxes that may be obtained from
the deduction of such state and local taxes.

(b) All determinations to be made under this Section 3.6 shall be made by the Company’s
independent public accountant immediately prior to the Change in Control (the “Accounting Firm”),
which firm shall provide its determinations and any supporting calculations both to the Company and
Executive within twenty (20) days after the Executive’s Date of Termination. Any such
determination by the Accounting Firm shall be binding upon the Company and Executive. Within ten
days after the Accounting Firm’s determination, the Company shall pay the Gross-Up Payment to
Executive.

(c) 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 a Gross-Up Payment. Such
notification shall be given as soon as practicable but no later than ten business days after
Executive knows of such claim and shall apprise the Company of the nature of such claim and the
date on which such claim is requested to be paid. Executive shall not pay such claim prior to the
expiration of the thirty (30) day period following the date on which 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 Executive in writing prior to the expiration of such
period that it desires to contest such claim, 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 to contest such claim effectively, and

(iv) permit the Company to participate in any proceedings relating to such claim;

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 Executive harmless, on an after-tax basis, for any excise tax, income tax or employment tax,
including interest and penalties, with respect thereto, imposed as a result of such representation
and payment of costs and expenses. Without limitation on the foregoing provisions of this Section
3.6, the Company shall control all proceedings taken in connection with such contest and, at its
sole option, may pursue or forego any and all administrative appeals, proceedings, hearing and
conferences with the taxing authority in respect of such claim. The Company’s control of the
contest shall be limited to issues with respect to which a Gross-Up Payment would be payable
hereunder, and 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) All of the fees and expenses of the Accounting Firm in performing the determinations
referred to in subsections (b) and (c) above shall be borne solely by the Company.

3.7 Definition of a Change in Control. As used herein, a “Change in Control” shall be
deemed to have occurred if:

(a) Any “person” (as such term is used in sections 13(d) and 14(d) of the Exchange Act)
becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Trust representing more than 50% of the voting power of the then
outstanding securities of the Trust; provided that a Change in Control shall not be deemed to occur
as a result of a change of ownership resulting from the Trust’s initial public offering or the
death of a shareholder, and a Change in Control shall not be deemed to occur as a result of a
transaction in which the Trust becomes a subsidiary of another real estate investment trust and in
which the shareholders of the Trust, immediately prior to the transaction, will beneficially own,
immediately after the transaction, shares entitling such shareholders to more than 50% of all votes
to which all shareholders of the parent real estate investment trust would be entitled in the
election of trustees (without consideration of the rights of any class of stock to elect trustees
by a separate class vote);

(b) The consummation of (i) a merger or consolidation of the Trust with another real estate
investment trust where the shareholders of the Trust, immediately prior to the merger or
consolidation, will not beneficially own, immediately after the merger or consolidation, shares
entitling such shareholders to more than 50% of all votes to which all shareholders of the
surviving real estate investment trust would be entitled in the election of trustees (without
consideration of the rights of any class of stock to elect trustees by a separate class vote), or
where the members of the Board, immediately prior to the merger or consolidation, would not,
immediately after the merger or consolidation, constitute a majority of the board of trustees of
the surviving real estate investment trust, (ii) a sale or other disposition of all or
substantially all of the assets of the Trust, or (iii) a liquidation or dissolution of the Trust;
or

(c) After the effective date of this Agreement, trustees are elected such that a majority of
the members of the Board shall have been members of the Board for less than two years, unless the
election or nomination for election of each new trustee who was not a trustee at the beginning of
such two-year period was approved by a vote of at least two-thirds of the trustees then still in
office who were trustees at the beginning of such period.

4. Non-Competition, Confidentiality and Non-Solicitation. Executive hereby
acknowledges that, during and solely as a result of his employment by the Company, Executive will
receive special training and education with respect to the operation of the Company’s business and
other related matters, and access to confidential information and business and professional
contacts. In consideration of Executive’s employment and in consideration of the special and
unique opportunities afforded by the Company to Executive as a result of Executive’s employment,
Executive hereby agrees to execute and abide by the terms of the Non-Competition, Confidentiality
and Non-Solicitation Agreement attached as Exhibit B. Executive agrees and acknowledges that his
employment is full, adequate and sufficient consideration for the restrictions and obligations set
forth in the foregoing Agreements.

5. Non-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit
Executive’s continuing or future participation in or rights under any benefit, bonus, incentive or
other plan or program provided by the Company and for which Executive may qualify; provided,
however, that if Executive becomes entitled to and receives the payments provided for in Section 2
and 3 of this Agreement, Executive hereby waives Executive’s right to receive payments under any
severance plan or similar program applicable to all employees of the Company.

6. Survivorship. The respective rights and obligations of the parties under this
Agreement shall survive any termination of Executive’s employment to the extent necessary to the
intended preservation of such rights and obligations.

7. Mitigation. Executive shall not be required to mitigate the amount of any payment
or benefit provided for in this Agreement by seeking other employment or otherwise and there shall
be no offset against amounts due Executive under this Agreement on account of any remuneration
attributable to any subsequent employment that Executive may obtain.

8. Arbitration; Expenses. In the event of any dispute under the provisions of this
Agreement, other than a dispute in which the primary relief sought is an equitable remedy such as
an injunction, the parties shall be required to have the dispute, controversy or claim settled by
arbitration in Washington, D.C. in accordance with the National Rules for the Resolution of
Employment Disputes then in effect of the American Arbitration Association, before a panel of three
arbitrators, two of whom shall be selected by the Company and Executive, respectively, and the
third of whom shall be selected by the other two arbitrators. Any award entered by the arbitrators
shall be final, binding and nonappealable and judgment may be entered thereon by either party in
accordance with applicable law in any court of competent jurisdiction. This arbitration provision
shall be specifically enforceable. The arbitrators shall have no authority to modify any provision
of this Agreement or to award a remedy for a dispute involving this Agreement other than a benefit
specifically provided under or by virtue of the Agreement. If Executive prevails on any material
issue which is the subject of such arbitration or lawsuit, the Company shall be responsible for all
of the fees of the American Arbitration Association and the arbitrators and any expenses relating
to the conduct of the arbitration (including the Company’s and Executive’s reasonable attorneys’
fees and expenses). Otherwise, each party shall be responsible for its own expenses relating to
the conduct of the arbitration (including reasonable attorneys’ fees and expenses) and shall share
the fees of the American Arbitration Association.

9. Notices. All notices and other communications required or permitted under this
Agreement or necessary or convenient in connection herewith shall be in writing and shall be deemed
to have been given when hand delivered or mailed by registered or certified mail, as follows
(provided that notice of change of address shall be deemed given only when received):

1

If to the Company, to:

First Potomac Realty Trust

7200 Wisconsin Avenue, Suite 310

Bethesda MD 20814

Attention: Douglas J. Donatelli

With a required copy to:

Hunton & Williams LLP

Riverfront Plaza, East Tower

951 East Byrd Street

Richmond, VA 23219-4074

Attention: David C. Wright, Esquire

If to Executive, to:

Joel F. Bonder

First Potomac Realty Trust

7200 Wisconsin Avenue, Suite 310

Bethesda MD 20814

or to such other names or addresses as the Company or Executive, as the case may be, shall
designate by notice to each other person entitled to receive notices in the manner specified in
this Section.

10. Contents of Agreement; Amendment and Assignment.

(a) This Agreement sets forth the entire understanding between the parties hereto with respect
to the subject matter hereof and cannot be changed, modified, extended or terminated except upon
written amendment approved by the Board and executed on its behalf by a duly authorized officer and
by Executive.

(b) All of the terms and provisions of this Agreement shall be binding upon and inure to the
benefit of and be enforceable by the respective heirs, executors, administrators, legal
representatives, successors and assigns of the parties hereto, except that the duties and
responsibilities of Executive under this Agreement are of a personal nature and shall not be
assignable or delegatable in whole or in part by Executive. The Company and Trust shall require
any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or
otherwise) to all or substantially all of the business or assets of the Company or Trust, within
fifteen (15) days of such succession, expressly to assume and agree to perform this Agreement in
the same manner and to the same extent as the Company and Trust would be required to perform if no
such succession had taken place.

11. Severability. If any provision of this Agreement or application thereof to anyone
or under any circumstances is adjudicated to be invalid or unenforceable in any jurisdiction, such
invalidity or unenforceability shall not affect any other provision or application of this
Agreement which can be given effect without the invalid or unenforceable provision or application
and shall not invalidate or render unenforceable such provision or application in any other
jurisdiction. If any provision is held void, invalid or unenforceable with respect to particular
circumstances, it shall nevertheless remain in full force and effect in all other circumstances.

12. Remedies Cumulative; No Waiver. No remedy conferred upon a party by this
Agreement is intended to be exclusive of any other remedy, and each and every such remedy shall be
cumulative and shall be in addition to any other remedy given under this Agreement or now or
hereafter existing at law or in equity. No delay or omission by a party in exercising any right,
remedy or power under this Agreement or existing at law or in equity shall be construed as a waiver
thereof, and any such right, remedy or power may be exercised by such party from time to time and
as often as may be deemed expedient or necessary by such party in its sole discretion.

13. Beneficiaries/References. Executive shall be entitled, to the extent permitted
under any applicable law, to select and change a beneficiary or beneficiaries to receive any
compensation or benefit payable under this Agreement following Executive’s death by giving the
Company written notice thereof. In the event of Executive’s death or a judicial determination of
Executive’s incompetence, reference in this Agreement to Executive shall be deemed, where
appropriate, to refer to Executive’s beneficiary, estate or other legal representative.

14. Miscellaneous. All Section headings used in this Agreement are for convenience
only. This Agreement may be executed in counterparts, each of which is an original. It shall not
be necessary in making proof of this Agreement or any counterpart hereof to produce or account for
any of the other counterparts.

15. Withholding. All payments under this Agreement shall be made subject to
applicable tax withholding, and the Company shall withhold from any payments under this Agreement
all federal, state and local taxes as the Company is required to withhold pursuant to any law or
governmental rule or regulation. Except as specifically provided otherwise in this Agreement,
Executive shall bear all expense of, and be solely responsible for, all federal, state and local
taxes due with respect to any payment received under this Agreement.

16. Governing Law. This Agreement shall be governed by and interpreted under the laws
of the State of Maryland without giving effect to any conflict of laws provisions.

[SIGNATURE PAGE FOLLOWS]

2

IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this
Agreement as of the date first above written.

FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP

	 	 	 
	By:

	 	First Potomac Realty Trust

Its general partner
	 
	 	 
	
 
	 	By:     

Name: Douglas J. Donatelli

Title: President and CEO

     

EXECUTIVE

GUARANTEE:

For good and valuable consideration, including the Executive’s agreement to serve as an officer of
First Potomac Realty Trust, the obligations of First Potomac Realty Investment Limited Partnership
under this Employment Agreement, dated February 14, 2005, with Joel F. Bonder, shall be guaranteed
by First Potomac Realty Trust.

FIRST POTOMAC REALTY TRUST

	 	 	 	 	 	 	 	 	 
	By:	 	______________________________

	 
	 	Name:                      
	 	Douglas J. Donatelli

Title: President and CEO

Dated: February 14, 2005

3

Exhibit A

Separation of Employment Agreement and General Release

THIS SEPARATION OF EMPLOYMENT AGREEMENT AND GENERAL RELEASE (the “Agreement”) is made as of
this      day of      ,      , by and between First Potomac Realty Investment Limited
Partnership (the “Company”) and      (“Executive”).

WHEREAS, Executive formerly was employed by the Company as      pursuant to the terms of
the Employment Agreement, dated      , 200     , (the “Employment Agreement”);

WHEREAS, the Employment Agreement provides for certain benefits in the event that Executive’s
employment is terminated on account of a reason set forth in the Employment Agreement;

WHEREAS, Executive and the Company mutually desire to terminate Executive’s employment on an
amicable basis, such termination to be effective      ,      (“Date of Resignation”); and

WHEREAS, in connection with the termination of Executive’s employment, the parties have agreed
to a separation package and the resolution of any and all disputes between them.

NOW, THEREFORE, IT IS HEREBY AGREED by and between Executive and the Company as follows:

1. (a) Executive, for and in consideration of the commitments of the Company as set forth in
paragraph 6 of this Agreement, and intending to be legally bound, does hereby REMISE, RELEASE AND
FOREVER DISCHARGE the Company, its affiliates, subsidiaries and parents, and its officers,
directors, employees, and agents, and its and their respective successors and assigns, heirs,
executors, and administrators (collectively, “Releasees”) from all causes of action, suits, debts,
claims and demands whatsoever in law or in equity, which Executive ever had, now has, or hereafter
may have, whether known or unknown, or which his or her heirs, executors, or administrators may
have, by reason of any matter, cause or thing whatsoever, from the beginning of his or her
employment to the date of this Agreement, and particularly, but without limitation of the foregoing
general terms, any claims arising from or relating in any way to his or her employment relationship
with Company, the terms and conditions of that employment relationship, and the termination of that
employment relationship, including, but not limited to, any claims arising under the Age
Discrimination in Employment Act, the Older Workers Benefit Protection Act (“OWBPA”), Title VII of
The Civil Rights Act of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act
of 1993, the Employee Retirement Income Security Act of 1974, [State Fair Employment Practice Law],
and any other claims under any federal, state or local common law, statutory, or regulatory
provision, now or hereafter recognized, and any claims for attorneys’ fees and costs. This
Agreement is effective without regard to the legal nature of the claims raised and without regard
to whether any such claims are based upon tort, equity, implied or express contract or
discrimination of any sort.

(b) To the fullest extent permitted by law, and subject to the provisions of paragraph 11
below, Executive represents and affirms that (i) [other than      ,] he or she has not filed or
caused to be filed on his or her behalf any claim for relief against the Company or any Releasee
and, to the best of his or her knowledge and belief, no outstanding claims for relief have been
filed or asserted against the Company or any Releasee on his or her behalf; and (ii) [other than
     ,] he or she has not reported any improper, unethical or illegal conduct or activities to
any supervisor, manager, department head, human resources representative, agent or other
representative of the Company, to any member of the Company’s legal or compliance departments, or
to the ethics hotline, and has no knowledge of any such improper, unethical or illegal conduct or
activities; and (iii) he or she will not file, commence, prosecute or participate in any judicial
or arbitral action or proceeding against the Company or any Releasee based upon or arising out of
any act, omission, transaction, occurrence, contract, claim or event existing or occurring on or
before the date of this Agreement.

2. In consideration of the Company’s agreements as set forth in paragraph 6 herein, Executive
agrees to be bound by the terms of the Company’s Non-Competition, Confidentiality and
Non-Solicitation Agreement executed by the Executive on      ,      .

3. Executive further agrees and recognizes that he or she has permanently and irrevocably
severed his or her employment relationship with the Company, that he or she shall not seek
employment with the Company or any affiliated entity at any time in the future, and that the
Company has no obligation to employ him or her in the future.

4. Executive further agrees that he or she will not disparage or subvert the Company, or make
any statement reflecting negatively on the Company, its affiliated corporations or entities, or any
of their officers, directors, employees, agents or representatives, including, but not limited to,
any matters relating to the operation or management of the Company, Executive’s employment and the
termination of his or her employment, irrespective of the truthfulness or falsity of such
statement.

5. In consideration for Executive’s agreement as set forth herein, the Company agrees to
provide severance benefits provided under the Employment Agreement.

6. Executive understands and agrees that the payments, benefits and agreements provided in
this Agreement are being provided to him or her in consideration for his or her acceptance and
execution of, and in reliance upon his or her representations in, this Agreement. Executive
acknowledges that if he or she had not executed this Agreement containing a release of all claims
against the Company, he or she would only have been entitled to the payments provided in the
Company’s standard severance pay plan for employees.

7. Executive acknowledges and agrees that the Company previously has satisfied any and all
obligations owed to him or her under any employment agreement or offer letter he or she has with
the Company and, further, that this Agreement supersedes any employment agreement or offer letter
he or she has with the Company, and any and all prior agreements or understandings, whether written
or oral, between the parties shall remain in full force and effect to the extent not inconsistent
with this Agreement, and further, that, except as set forth expressly herein, no promises or
representations have been made to him or her in connection with the termination of his or her
employment agreement or offer letter with the Company, or the terms of this Agreement.

8. Executive agrees not to disclose the terms of this Agreement to anyone, except his or her
spouse, attorney and, as necessary, tax/financial advisor. Likewise, the Company agrees that the
terms of this Agreement will not be disclosed except as may be necessary to obtain approval or
authorization to fulfill its obligations hereunder or as required by law. It is expressly
understood that any violation of the confidentiality obligation imposed hereunder constitutes a
material breach of this Agreement.

9. Executive represents that he or she does not presently have in his or her possession any
records and business documents, whether on computer or hard copy, and other materials (including
but not limited to computer disks and tapes, computer programs and software, office keys,
correspondence, files, customer lists, technical information, customer information, pricing
information, business strategies and plans, sales records and all copies thereof) (collectively,
the “Corporate Records”) provided by the Company and/or its predecessors, subsidiaries or
affiliates or obtained as a result of his or her prior employment with the Company and/or its
predecessors, subsidiaries or affiliates, or created by Executive while employed by or rendering
services to the Company and/or its predecessors, subsidiaries or affiliates. Executive
acknowledges that all such Corporate Records are the property of the Company. In addition,
Executive shall promptly return in good condition any and all beepers, credit cards, cellular
telephone equipment, business cards and computers. As of the Date of Resignation, the Company will
make arrangements to remove, terminate or transfer any and all business communication lines
including network access, cellular phone, fax line and other business numbers.

10. Nothing in this Agreement shall prohibit or restrict Executive from: (i) making any
disclosure of information required by law; (ii) providing information to, or testifying or
otherwise assisting in any investigation or proceeding brought by, any federal regulatory or law
enforcement agency or legislative body, any self-regulatory organization, or the Company’s
designated legal, compliance or human resources officer; or (iii) filing, testifying, participating
in or otherwise assisting in a proceeding relating to an alleged violation of any federal, state or
municipal law relating to fraud, or any rule or regulation of the Securities and Exchange
Commission or any self-regulatory organization.

11. The parties agree and acknowledge that the agreement by the Company described herein, and
the settlement and termination of any asserted or unasserted claims against the Releasees, are not
and shall not be construed to be an admission of any violation of any federal, state or local
statute or regulation, or of any duty owed by any of the Releasees to Executive.

12. Executive agrees and recognizes that should he or she breach any of the obligations or
covenants set forth in this Agreement, the Company will have no further obligation to provide
Executive with the consideration set forth herein, and will have the right to seek repayment of all
consideration paid up to the time of any such breach. Further, Executive acknowledges in the event
of a breach of this Agreement, Releasees may seek any and all appropriate relief for any such
breach, including equitable relief and/or money damages, attorney’s fees and costs.

13. Executive further agrees that the Company shall be entitled to preliminary and permanent
injunctive relief, without the necessity of proving actual damages, as well as to an equitable
accounting of all earnings, profits and other benefits arising from any violations of this
Agreement, which rights shall be cumulative and in addition to any other rights or remedies to
which the Company may be entitled.

14. This Agreement and the obligations of the parties hereunder shall be construed,
interpreted and enforced in accordance with the laws of the State of Maryland.

15. Executive certifies and acknowledges as follows:

(a) That he or she has read the terms of this Agreement, and that he or she understands its
terms and effects, including the fact that he or she has agreed to RELEASE AND FOREVER DISCHARGE
the Company and each and everyone of its affiliated entities from any legal action arising out of
his or her employment relationship with the Company and the termination of that employment
relationship;

(b) That he or she has signed this Agreement voluntarily and knowingly in exchange for the
consideration described herein, which he or she acknowledges is adequate and satisfactory to him or
her and which he or she acknowledges is in addition to any other benefits to which he or she is
otherwise entitled;

(c) That he or she has been and is hereby advised in writing to consult with an attorney prior
to signing this Agreement;

(d) That he or she does not waive rights or claims that may arise after the date this
Agreement is executed;

(e) That the Company has provided him or her with a period of twenty-one (21) days within
which to consider this Agreement, and that Executive has signed on the date indicated below after
concluding that this Agreement is satisfactory to him or her; and

(f) Executive acknowledges that this Agreement may be revoked by him or her within seven (7)
days after execution, and it shall not become effective until the expiration of such seven day
revocation period. In the event of a timely revocation by Executive, this Agreement will be deemed
null and void and the Company will have no obligations hereunder.

[SIGNATURE PAGE FOLLOWS]

4

Intending to be legally bound hereby, Executive and the Company executed the foregoing
Confidential Separation Agreement and General Release this      day of      ,      .

	 	 	 	 	 
	_____________________________
	 	Witness:________________________
	 
	 	 	 	 
	[Executive]

	 	

	 	

	 
	 	 	 	 
	FIRST POTOMAC REALTY

	 	

	 	

	 
	 	 	 	 
	INVESTMENT LIMITED PARTNERSHIP
	 	 
	 
	 	 	 	 
	By:

	 	First Potomac Realty Trust

Its general partner
	 	

	 
	 	 	 	 
	
 
	 	By:     

Name:
	 	

	
 
	 	Title:
	 	Witness:     

5

Exhibit B

Non-Competition, Confidentiality and Non-Solicitation Agreement

In consideration of my new employment with First Potomac Realty Investment Limited Partnership
(the “Company”), and intending to be legally bound, I agree as follows:

1. Confidentiality. I agree that my services to the Company are of a special, unique
and extraordinary character, and that my position places me in a position of confidence and trust
with the Company’s customers and employees. I also recognize that my position with the Company
will give me substantial access to Confidential Information (as that term is defined below), the
disclosure of which to competitors of the Company would cause the Company to suffer substantial and
irreparable damage. I recognize, therefore, that it is in the Company’s legitimate business
interest to restrict my use of Confidential Information for any purposes other than the discharge
of my employment duties at the Company, and to limit any potential appropriation of Confidential
Information by me for the benefit of the Company’s competitors and to the detriment of the Company.
Accordingly, I agree as follows:

(a) During and after my employment by the Company, I will not disclose to any other person or
company, nor use for my own personal benefit, except as may be necessary in the performance of my
duties as an employee of the Company, any Confidential Information disclosed to me or of which I
become aware by reason of my employment or association with the Company.

(b) The term “Confidential Information” means any and all data and information relating to the
business of the Company (whether or not it constitutes a trade secret), which is or has been
disclosed to me or of which I became aware as a consequence of my employment or relationship with
the Company, and which has value to the Company and is not generally known by its competitors,
including but not limited to information relating to experimental and research work of the Company,
the Company’s methods, processes, tools, machinery, formulas, drawings or appliances, and the
financial or business affairs of the Company relating to services, customers, customer lists,
employees or employees’ compensation, projections, plans, development, accounting and marketing
studies or analyses. Confidential Information shall not include any data or information that has
been disclosed voluntarily to the public by the Company (except where such public disclosure has
been made by me or some other person without authorization), or that has been independently
developed and disclosed by others, or that otherwise enters the public domain through lawful and
legitimate means.

(c) I agree that upon the termination of my employment with the Company, I will not take with
me or retain without written authorization any documents, files or other property of the Company,
and I will return promptly to the Company any such documents, files or property in my possession or
custody. In connection with this Agreement, I recognize that all documents, files and property
which I have received and will receive from the Company, including but not limited to customer
lists, handbooks, memoranda, policy manuals, product specifications, and other materials (with the
exception of documents relating to benefits to which I might be entitled following the termination
of my employment with the Company), are for the exclusive use of the Company and employees who are
discharging their responsibilities on behalf of the Company, and that I have no claim or right to
the continued use, possession or custody of such documents, files or property following the
termination of my employment with the Company.

2. Intellectual Property. I will communicate to the Company any and all novel ideas,
concepts, inventions, processes, and improvements, patentable or unpatentable, made or conceived by
me, either solely or jointly with others, from the time of entering the Company’s employ until I
leave, along the line of the Company’s business, or resulting from or suggested by any work which I
may do for the Company, or at its request, and I will, at all times during my employment with the
Company and after my termination for any reason, assist the Company in every proper way (at the
Company’s expense), to obtain for the Company’s own benefit patents for any or all of these ideas,
concepts, inventions, processes and improvements in the United States and any and all foreign
countries, if patentable, by executing and delivering to the Company any and all applications,
assignments, and other instruments, by giving evidence and testimony, and by executing and
delivering to the Company all drawings, blueprints, notes, and specifications deemed necessary by
the Company in order to apply for and obtain letters patent of the United States or foreign
countries for such ideas, concepts, inventions, processes and improvements, and I do hereby assign
and will assign and convey to the Company my entire right, title and interest in and to all such
ideas, concepts, inventions, processes, and improvements, and all patent applications and patents
thereon. I further agree to conduct myself as described above after leaving the Company’s
employment as to all ideas, concepts, inventions, processes and improvements conceived or disclosed
while with the Company.

3. Non-Competition.

(a) During my employment by the Company and for a period of one (1) year after my termination
of employment for any reason, I will not, except with the prior written consent of the Board of
Trustees of First Potomac Realty Trust (the “Board”), directly or indirectly, own, manage, operate,
join, control, finance or participate in the ownership, management, operation, control or financing
of, or be connected as an officer, director, employee, partner, principal, agent, representative,
consultant or otherwise with, or use or permit my name to be used in connection with, any business
or enterprise which is engaged in any business or enterprise that acquires, operates and develops
properties in the industrial and flex property markets, within the Company’s “Service Area,” as
defined below. For the purposes of this Section, “Service Area” shall mean (i) the States of
Maryland, Delaware, North Carolina and West Virginia, (ii) the Commonwealths of Pennsylvania and
Virginia, and (iii) Washington, D.C. I acknowledge that the Service Area is the area in which the
Company presently does, or currently intends to do, business.

(b) The foregoing restrictions shall not be construed to prohibit my ownership of less than
five percent of any class of securities of any corporation which is engaged in any of the foregoing
businesses and has a class of securities registered pursuant to the Securities Exchange Act of
1934, provided that such ownership represents a passive investment and that neither I nor any group
of persons including me in any way, either directly or indirectly, manages or exercises control of
any such corporation, guarantees any of its financial obligations, otherwise takes any part in its
business, other than exercising my rights as a shareholder, or seeks to do any of the foregoing.

4. Non-Solicitation.

(a) I covenant and agree that during my employment by the Company and for the period of one
(1) year thereafter, I will not, directly or indirectly, (i) solicit, divert, take away, or attempt
to solicit, divert or take away, any of the Company’s principal customers, or (ii) encourage any
principal customer to reduce its patronage of the Company.

(b) I further covenant and agree that during my employment by the Company and for the period
of one (1) year thereafter, I will not, except with the prior written consent of the Board,
directly or indirectly, solicit or hire, or encourage the solicitation or hiring of, any person who
was an employee of the Company at any time during the term of my employment by the Company by any
employer other than the Company for any position as an employee, independent contractor, consultant
or otherwise. The foregoing covenant shall not apply to any person after 12 months have elapsed
after the date on which such person’s employment by the Company has terminated.

5. General Provisions.

(a) I acknowledge and agree that the type and periods of restrictions imposed in this
Agreement are fair and reasonable, and that such restrictions are intended solely to protect the
legitimate interests of the Company, rather than to prevent me from earning a livelihood. I
recognize that the Company competes throughout the United States, and that my access to
Confidential Information makes it necessary for the Company to restrict my post-employment
activities in any market in which the Company competes, and in which my access to Confidential
Information and other proprietary information could be used to the detriment of the Company. In
the event that any restriction set forth in this Agreement is determined to be overbroad with
respect to scope, time or geographical coverage, I agree that such a restriction or restrictions
should be modified and narrowed, either by a court or by the Company, so as to preserve and protect
the legitimate interests of the Company as described in this Agreement, and without negating or
impairing any other restrictions or agreements set forth herein.

(b) I acknowledge and agree that if I should breach any of the covenants, restrictions and
agreements contained herein, irreparable loss and injury would result to the Company, and that
damages arising out of such a breach may be difficult to ascertain. I therefore agree that, in
addition to all other remedies provided at law or at equity, the Company may petition and obtain
from a court of law or equity all necessary temporary, preliminary and permanent injunctive relief
to prevent a breach by me of any covenant contained in this Agreement. I agree further that if it
is determined by a court that I have breached the terms of this Agreement, the Company shall be
entitled to recover from me all costs and attorneys’ fees incurred as a result of its attempts to
redress such a breach or to enforce its rights and protect its legitimate interests.

(c) This Agreement shall be deemed to made in, and in all respects shall be interpreted,
construed and governed by and in accordance with, the laws of the State of Maryland.

(d) I agree that if the Company fails to take action to remedy any breach by me of this
Agreement or any portion of the Agreement, such inaction by the Company shall not operate or be
construed as a waiver of any subsequent breach by me of the same or any other provision, agreement
or covenant.

(e) I agree that each covenant, paragraph and division of this Agreement is intended to be
severable and distinct, and that if any paragraph, subparagraph, provision or term of this
Agreement is deemed to be unlawful or unenforceable, such a determination will not impair the
legitimacy or enforceability of any other aspect of the Agreement.

(f) I hereby state that I have read this Agreement in its entirety, that I have been given an
opportunity to consider the Agreement and discuss it with the attorney of my choice, and that I
enter into this Agreement voluntarily and intending to be legally bound.

(g) I agree that the Company may assign this Agreement to any of its successors by merger or
otherwise, and that this Agreement shall inure to the benefit of any such successor.

	 	 	 	 	 
	___________________	 	___________________________________

	 
	 	 	 	 
	Witness

	 	Joel F. Bonder
	 	

	 
	 	 	 	 
	     

	 	FIRST POTOMAC REALTY
	 	

	 
	 	 	 	 
	Witness	 	INVESTMENT LIMITED PARTNERSHIP

	 
	 	 	 	 
	
 
	 	By:
	 	First Potomac Realty Trust

Its general partner
	 
	 	 	 	 
	
 
	 	 	 	By:     

Name: Douglas J. Donatelli

Title: President and CEO
	 
	 	 	 	 

6

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