SEC Contract Filing

Filing Date: 2015-01-22

Document Content:
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<TYPE>EX-10.9
<SEQUENCE>11
<FILENAME>a15-2523_1ex10d9.htm
<DESCRIPTION>EX-10.9
<TEXT>

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<p align="right" style="margin:0in 0in .0001pt .5in;text-align:right;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.9</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FIRST AMENDMENT TO EMPLOYMENT AGREEMENT</font></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (the &#147;<u>Amendment</u>&#148;) is made and entered into by and between WASHINGTON PRIME GROUP INC., an Indiana corporation (the &#147;<u>Company</u>&#148;), and C. MARC RICHARDS (&#147;<u>Executive</u>&#148;), executed on November</font>&nbsp;&nbsp;&nbsp;&nbsp;</font>, 2014 (the &#147;<u>Execution Date</u>&#148;).</p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company and Executive are parties to an employment agreement, dated as of June&nbsp;3, 2014 (the &#147;<u>Employment Agreement</u>&#148;), pursuant to which Executive serves as the Chief Financial Officer of the Company (capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Employment Agreement); and</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company has entered into an Agreement and Plan of Merger, dated as of September&nbsp;16, 2014, by and among the Company, Washington Prime Group, L.P. (the &#147;<u>Partnership</u>&#148;), WPG Subsidiary Holdings I, LLC, WPG Subsidiary Holdings II Inc., Glimcher Realty Trust and Glimcher Properties Limited Partnership (&#147;<u>Glimcher LP</u>&#148;) (the &#147;<u>Merger Agreement</u>&#148;); and</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, from and following the &#147;Acquisition Effective Time&#148; (as defined in the Merger Agreement), the Company desires to continue to employ Executive as Executive Vice President and Chief Administrative Officer and for Executive to continue to provide services to the Company, the Partnership, Glimcher Realty Trust, and Glimcher LP, and Executive desires to be so employed by the Company and to provide such services; and</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company and Executive now desire to amend the Employment Agreement to reflect such continued employment on the terms and subject to the conditions set forth herein;</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE,&nbsp;IT IS HEREBY AGREED AS FOLLOWS:</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1. <u>Definitions</u>.&#160; Section&nbsp;1.2 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:&#160; &#147;[Intentionally Omitted]&#148;</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2. <u>Terms of Employment</u>.&nbsp;&nbsp;&nbsp;Section&nbsp;2.2 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;During the Employment Period, Executive shall serve the Company as its Executive Vice President and Chief Administrative Officer and shall perform customary and appropriate duties as may be reasonably assigned to Executive from time to time by the Company and shall provide services to the Company, Washington Prime Group, L.P., Glimcher Realty Trust, and Glimcher Properties Limited Partnership.&#160; Executive shall report to the Executive Chairman of the Company or, if no such Executive Chairman, to the Chief Executive Officer of the Company.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3. <u>Effect of Termination</u>.&nbsp;&nbsp;&nbsp;Section&nbsp;3.1 of the Employment Agreement is hereby dele