SEC Contract Filing

Filing Date: 2015-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>8
<FILENAME>exhibit1029employmentagree.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT WITH TEHRANI DATED FEBRUARY 24, 2015
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2015 Workiva -->
 <title>Exhibit 10.29 Employment Agreement</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<a name="sD9A4ACC74102239F760220A4547D5F0D"></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 10.29</font></div><div style="line-height:120%;padding-bottom:16px;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;font-weight:bold;">EMPLOYMENT AGREEMENT</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%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">THIS EMPLOYMENT AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), dated as of February 24, 2015 is entered into between Washington Prime Group Inc., an Indiana corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and Farinaz S. Tehrani (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, in connection with the employment of the Executive with the Company as of the Effective Date (as defined below), including Executive providing services to the Partnership (as defined below), the Company and Executive wish to enter into an agreement to provide for such services and compensation therefore under the terms and subject to the conditions set forth herein. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:11pt;">, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:0px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.1&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Cause</font><font style="font-family:inherit;font-size:11pt;">&#8221; means: (a) Executive&#8217;s willful failure to perform or substantially perform the Executive&#8217;s duties with the Company; (b) illegal conduct or gross misconduct by the Executive that is willful and demonstrably and materially injurious to the Company&#8217;s business, financial condition or reputation; (c) the Executive&#8217;s indictment for, or entry of a plea of guilty or nolo contendere with respect to, a felony crime or a crime involving moral turpitude, fraud, forgery, embezzlement or similar conduct; or (d) Executive&#8217;s willful and material breach of any noncompetition or nonsolicitation restrictive covenants or confidentiality provisions set forth in any written agreement with the Company; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">however,</font><font style="font-family:inherit;font-size:11pt;">&#32;that an action in (a) or (d) above will not be considered Cause unless the Executive has failed to cure such action (to the sole satisfaction of the Company) within 30 days after receiving written notice from the Company specifying with particularity the events allegedly giving rise to Cause.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><a name="sD9A4ACC74102239F760220A4547D5F0D"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.2&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Change in Control</font><font style="font-family:inherit;fon