SEC Contract Filing

Filing Date: 2015-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.30
<SEQUENCE>9
<FILENAME>exhibit1030grantofspecialp.htm
<DESCRIPTION>TERMS AND CONDITIONS OF THE GRANT OF SPECIAL PERFORMANCE LTIP UNITS
<TEXT>
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<a name="s8FFA0D4477F65EF024FF24A38493C563"></a><div></div><br><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">EXHIBIT 10.30</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">T</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">ERMS AND CONDITIONS OF THE GRANT OF SPECIAL PERFORMANCE UNITS TO</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">MR. GLIMCHER AND MR. YALE AND MS. TEHRANI AND MS. INDEST</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(A)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Subject to the applicable employee's continuous employment hereunder through each grant date, each applicable employee shall be granted Special Performance LTIP Units under the Plan in respect of each performance period (each, a '</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">'Special Performance Period")</font><font style="font-family:inherit;font-size:11pt;">&#32;consisting of the period from January 15, 2015 for Mr. Glimcher, Mr. Yale and Ms. Indest and January 21, 2015 for Ms. Tehrani (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;) through (i) December 31, 2016 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">First Special PP</font><font style="font-family:inherit;font-size:11pt;">&#8221;), (ii) December 31, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Second Special PP&#8221;</font><font style="font-family:inherit;font-size:11pt;">&#32;and (iii) December 31, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Third Special P</font><font style="font-family:inherit;font-size:11pt;">P&#8221;). </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(B)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Each LTIP Executive may be granted up to the maximum number of Special Performance LTIP Units in respect of each Special Performance Period as set forth next to such LTIP Executive's name on </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;">attached hereto.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(C)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The actual number Special Performance LTIP Units granted to each LTIP Executive in respect of each Special Performance Period shall be based on the Corporation's achievement of the absolute and relative (versus the MSCI REIT Index) total shareholder return (&#8220;TSR&#8221;) goals set forth on </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule I</font><font style="font-family:inherit;font-size:11pt;">&#32;attached hereto.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(D)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Subject to paragraphs (A) through (C) above, Special Performance LTIP Units granted to each LTIP Executive in respect of each Special Performance Period shall be granted promptly (and in any event within 15 days) following the end of the applicable Special Performance Period.</font></div><div style="line-height:120%;padding-top:14px;text-align:justify;padding-left:8px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-