Document:

EX-10.81

Exhibit 10.81

FOURTH
AMENDMENT

TO 

EMPLOYMENT AGREEMENT

This FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT, is made as of January 1, 2009, among
MEDICAL PROPERTIES TRUST, INC., a Maryland corporation (the “REIT”), MPT OPERATING
PARTNERSHIP, L.P., a Delaware limited partnership (the “Operating Partnership”, and
together with the REIT, the “Company”), and William G. McKenzie (the “Executive”).

WHEREAS, the Executive and the Company entered into an Employment Agreement dated as of
September 10, 2003, as amended by the First Amendment to Employment Agreement dated as of
September 29, 2006 and the Second Amendment to Employment Agreement dated as of August 1,
2008 and the Third Amendment to Employment Agreement (the “Employment Agreement”); and

WHEREAS, the parties desire to amend the Employment Agreement as provided herein.

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the parties hereby agree as follows:

1. Section 9(a) of the Employment Agreement is hereby deleted in its entirety and the
following shall be inserted in lieu thereof:

	 	(a)	 	CHANGE OF CONTROL shall mean the occurrence of any of the following events:
(i) any person, entity or affiliated group, excluding the Company or any employee
benefit plan of the Company, acquiring more than 50% of the then outstanding
shares of voting stock of the Company, (ii) the consummation of any merger or
consolidation of the Company into another company, such that the holders of the
shares of the voting stock of the Company immediately before such merger or
consolidation own less than 50% of the voting power of the securities of the
surviving company or the parent of the surviving company, (iii) the adoption of a
plan for complete liquidation of the Company or for the sale or disposition of
all or substantially all of the Company’s assets, such that after the
transaction, the holders of the shares of the voting stock of the Company
immediately prior to the transaction own less than 50% of the voting securities
of the acquiror or the parent of the acquiror, or (iv) during any period of two
(2) consecutive years, individuals who at the beginning of such period
constituted the Board (including for this purpose any new director whose election
or nomination for election by the Company’s stockholders was approved by a vote
of at least a majority of the directors then still in office who were directors
at the beginning of such period) cease for any reason to constitute at least a
majority of the Board.

 

 

2. Except to the extent hereby amended, the Employment Agreement is hereby confirmed
and ratified and shall continue in full force and effect.

3. The effective date of this Amendment is January 1, 2009.

4. This Amendment may be signed in two or more counterparts, each of which shall be an
original, but all of which taken together shall constitute one and the same document.

[Signatures to appear on the following page]

 

 

IN WITNESS WHEREOF, the parties have executed this Fourth Amendment to Employment Agreement as of
the date first above written.

	 	 	 	 	 
	 	REIT:

MEDICAL PROPERTIES TRUST, INC.

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice-President & CFO 	 
	 
	 	OPERATING PARTNERSHIP:

MPT OPERATING PARTNERSHIP, L.P.

By:   Medical Properties Trust, LLC

Its:   General Partner

By:   Medical Properties Trust, Inc.

Its:   Sole Member

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice-President & CFO 	 
	 
	 	EXECUTIVE:

 	 
	 	 
 	 
	 	William G. McKenzie 	 
	 	 	 
	 

 

 

IN WITNESS WHEREOF, the parties have executed this Fourth Amendment to Employment Agreement as of
the date first above written.

	 	 	 	 	 
	 	REIT:

MEDICAL PROPERTIES TRUST, INC.

 	 
	 	By:  	 
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice-President & CFO 	 
	 
	 	OPERATING PARTNERSHIP:

MPT OPERATING PARTNERSHIP, L.P.

By:   Medical Properties Trust, LLC

Its:   General Partner

By:   Medical Properties Trust, Inc.

Its:   Sole Member

 	 
	 	By:  	 
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice-President & CFO 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ William G. McKenzie
 	 
	 	William G. McKenzieEX-10.22

Exhibit 10.22

AMENDMENT NO. 1

TO THE

NACCO INDUSTRIES, INC.

SUPPLEMENTAL EXECUTIVE LONG-TERM INCENTIVE BONUS PLAN

(AS AMENDED AND RESTATED EFFECTIVE AS OF JANUARY 1, 2008)

     The Compensation Committee of the Board of Directors of the Company hereby adopts this
Amendment No. 1 to the NACCO Industries, Inc. Supplemental Executive Long-Term Incentive Bonus Plan
(As Amended and Restated Effective as of January 1, 2008) (the “Plan”) effective November 11, 2008.
Words and phrases used herein with initial capital letters that are defined in the Plan are used
herein as so defined.

Section 1

     Section 2(g) of the Plan is hereby amended by adding the following new sentence to the end
thereof:

     “Notwithstanding the foregoing, the term ‘Participant’ shall also include those employees
described in Section 5(a)(ii) hereof.”

Section 2

     The current Section “5(a)” of the Plan is hereby renumbered as Section “5(a)(i)” of the Plan
and a new Section 5(a)(ii) is hereby added to the end thereof, to read as follows:

     “(ii) Notwithstanding any provision of the Plan to the contrary, the Compensation Committee
shall provide an Award during the month of December, 2008 to any employee who is a participant in
one of the annual incentive compensation plans of the Company’s subsidiaries on October 15, 2008 in
an amount equal to one Award Share per employee, and a corresponding cash Award in an amount equal
to the amount deemed necessary by the Compensation Committee for such employee to pay the taxes
associated with the receipt of such Award Share; provided, however, that (A) the maximum number of
Award Shares to be issued under this Section 5(a)(ii) shall not exceed 600 Award Shares and (B) any
employee who is classified by the Company as a non-resident alien, a named executive officer (as
determined in accordance with Item 402(a)(3) of Regulation S-K and shall refer to those executive
officers for whom disclosure was required pursuant to Item 402(c) of Regulation S-K in the
Company’s most recent proxy statement) or as an officer (as defined in Rule 16a-1(f) promulgated
under the Securities Exchange Act of 1934 (or any successor rule to the same effect), as in effect
from time to time) shall not be entitled to receive any Award Shares under this Section 5(a)(ii).”

1EX-10.35

Exhibit 10.35

AMENDMENT NO. 1

TO

THE NORTH AMERICAN COAL CORPORATION

VALUE APPRECIATION PLAN FOR YEARS 2006 TO 2015

(AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2008)

     The Compensation Committee of the Board of Directors of The North American Coal Corporation
(the “Company”), hereby adopts this Amendment No. 1 to The North American Coal Corporation Value
Appreciation Plan for Years 2006 to 2015 (Amended and Restated Effective January 1, 2008) (the
“Plan”), effective as of January 1, 2008. Words and phrases used herein with initial capital
letters that are defined in the Plan are used herein as so defined.

Section 1

     Section 6.1 of the Plan is hereby amended by adding the following new provisions to the end
thereof:

“Calculations of VAP Target Amounts for each calendar year during the Plan Term shall initially be
based on a Participant’s Salary Grade as of January 1st of such year. However, VAP
Target Amounts may be changed during or after such year in accordance with Sections 6.2 (c) and 6.3
and under the following circumstances: (i) if a Participant receives a change in Salary Grade,
salary midpoint and/or long-term incentive compensation target percentage during a calendar year,
such change will be reflected in a pro-rata VAP Target Amount and (ii) employees hired into or
promoted to a position eligible to participate in the Plan during the year will, if designated as a
Participant by the Committee, be assigned a pro-rated VAP Target Amount based on their length of
service during the year. Unless otherwise determined by the Committee, in order to be eligible to
receive an Award for a particular calendar year, the Participant must be employed by the Employers
and must be a Participant on December 31st of such year; provided that if a Participant
dies, becomes Disabled or retires (as defined in Section 6.2(a)) during the year, the Participant
shall be entitled to a pro-rata portion of the Award for such year, calculated based on actual
performance for the entire Award Term in accordance with Section, based on the number of days the
Participant was actually employed by the Employers during the year.”

Section 2

     Sections 6.2(b), 6.2(c) and 6.2(e) of the Plan are each hereby amended in their entirety to
read as follows:

     “(b) A Participant shall become entitled to receive payment of the vested portion of his VAP
Account on the earliest to occur of the following dates (the “Payment Dates”):

     (i) December 31, 2011;

     (ii) A Change in Control;

     (iii) the date of a Participant’s Separation From Service for death, Disability or
retirement (as defined above); or

     (iv) the termination of this Plan pursuant to Section 9, to the extent permitted by Code
Section 409A.

     (c) Notwithstanding the foregoing, all payments under this Plan (including payments of vested
amounts) must be approved by the Committee before such payment is made. Such Committee approval
will be received, and the actual payment will be made, within 90 days of the applicable Payment
Date specified in Subsection (b) above; provided, however, that (i) in the event of a Change in
Control, the payment of all amounts credited to the Participant’s VAP Account on the date of the
Change in Control, plus the pro-rata Target Award for the year of the Change in Control, shall be
made within 2 days prior to, or 30 days after, such Change in Control and

1

 

(ii) in the event of a payment due to death, Disability or retirement, all amounts credited to
the Participant’s VAP Account as of such date (plus interest) shall be paid within 90 days of such
date and the Award earned for the Award Year in which the date of death, Disability or Retirement
occurs shall be paid during the period from January 1st through April 30th of
the calendar year following such date; provided, however, that if the Participant receiving a
payment on account of Disability or Retirement is a Key Employee, such payment shall not occur any
earlier than the 1st day of the 7th month following a Separation from Service
on account of retirement or Disability (with interest continuing to accrue until the last day of
the month prior to the actual payment date). The Participant’s Employer shall deliver to the
Participant or, if applicable, his designated beneficiaries (or, if none, his estate) a check in
full payment of the amount represented by the Participant’s vested interest in his VAP Account.
The Employer by which the Participant was last employed prior to the payment date of the Account
shall be liable for the payment of such Account to or on behalf of such Participant, but such
Employer’s liability shall be limited to its proportionate share of such Account, as hereinafter
provided. If the Award(s) that were credited to a Participant’s VAP Account are based on the
Participant’s employment with more than one Employer, the liability for such payment shall be
shared by all such Employers (by reimbursement to the Employer making such payment(s)) as
determined by the Company (taking into consideration the Participant’s service and compensation
paid by each such Employer) and as will permit the income tax deduction by each such Employer of
its portion of the payments made and to be made hereunder.

     (d) The amounts payable under this Plan shall be calculated based on the value of the VAP
Account as of the last day of the month immediately preceding the date of payment.”

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