SEC Contract Filing

Filing Date: 2022-05-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>2
<FILENAME>cmtg-ex106_169.htm
<DESCRIPTION>EX-10.6
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cmtg-ex106_169.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.6</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">TIME-BASED RESTRICTED STOCK UNIT AGREEMENT</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.14%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> This Restricted Stock Unit Agreement (this &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;), dated as of the date set forth in <font style="text-decoration:underline;">Exhibit A</font> attached hereto (the &#8220;<font style="font-weight:bold;font-style:italic;">Grant Date</font>&#8221;), is made by and between Claros Mortgage Trust, Inc., a Maryland corporation (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;), and the individual set forth in <font style="text-decoration:underline;">Exhibit A</font> attached hereto (the &#8220;<font style="font-weight:bold;font-style:italic;">Participant</font>&#8221;).</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.14%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, the Company maintains the Claros Mortgage Trust, Inc. 2016 Incentive Award Plan (as amended from time to time, the &#8220;</font><font style="font-style:italic;">Plan</font><font style="font-weight:normal;">&#8221;); </font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.14%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, Section 9.4 of the Plan provides for the issuance of Restricted Stock Units (&#8220;</font><font style="font-style:italic;">RSUs</font><font style="font-weight:normal;">&#8221;); and</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.14%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, the Administrator has determined that it would be to the advantage and in the best interest of the Company to issue RSUs to the Participant as an inducement to enter into or remain in the service of the Company, Claros REIT Management LP (the &#8220;</font><font style="font-style:italic;">Manager</font><font style="font-weight:normal;">&#8221;) or any Parent, Subsidiary or Affiliate of the Company or the Manager, and as an additional incentive during such service, and has advised the Company thereof.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.14%;">NOW, THEREFORE<font style="font-weight:normal;">, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows:</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.14%;font-weight:normal;font-style:normal;color:#auto;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1.</font><font style="font-family:Arial;font-size:10pt;margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Issuance of Award of RSUs</font><font style="color:#000000;">. Pursuant to the Plan, in consideration of the Participant&#8217;s agreement to provide services to the Company, the Manager or any Parent, Subsidiary or Affiliate of the Company or the Manager (as applicable), the Company hereby issues to the Participant an award of the number of</font><font style="color:#0000FF;"> </font><font style="color:#000000;">RSUs set forth on </font><font style="text-decoration:underline;color:#000000;">Exhibit A</font><font style="color:#000000;"> attached hereto. Each RSU that vests shall represent the right to receive payment, in accordance with this Agreement, of one share of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;</font><font style="font-weight:bold;font-style:italic;color:#000000;">Common Stock</font><font style="color:#000000;">&#8221;).&nbsp;&nbsp;Unless and until an RSU vests, the Participant will have no right to payment in respect of any such RSU.&nbsp;&nbsp;Prior to actual payment in respect of any vested RSU, such RSU will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.14%;font-weight:normal;font-style:normal;color:#auto;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2.</font><font style="font-family:Arial;font-size:10pt;margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Dividend Equivalents</font><font style="color:#000000;">.&nbsp;&nbsp;Each RSU granted hereunder is hereby granted in tandem with a corres