SEC Contract Filing

Filing Date: 2016-02-29

Document Content:
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<TYPE>EX-10.25
<SEQUENCE>2
<FILENAME>brx10k12312015ex1025.htm
<DESCRIPTION>EX 10.25
<TEXT>
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<a name="s436b8807613847d9a496b67c8801d7ef"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;padding-left:384px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.25</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EMPLOYMENT AGREEMENT </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Michael Hyun)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EMPLOYMENT AGREEMENT (the &#8220;Agreement&#8221;) dated October 19, 2015 by and between Brixmor Property Group, Inc. (the &#8220;Company&#8221;) and Michael Hyun (&#8220;Executive&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company desires to employ Executive and to enter into an agreement embodying the terms of such employment;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Executive desires to accept such employment and enter into such an agreement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In consideration of the premises and mutual covenants herein and for other good and valuable consideration, the parties agree as follows:</font></div><div style="line-height:120%;padding-left:48px;text-align:left;text-indent:48px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Term of Employment</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">. Subject to the provisions of Section 5 of this Agreement, Executive shall be employed by the Company for a period commencing on December 14, 2015 (the &#8220;Effective Date&#8221;) and ending on the third anniversary of the Effective Date (the &#8220;Employment Term&#8221;) on the terms and subject to the conditions set forth in this Agreement; </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:10pt;">, the Employment Term shall be automatically extended for an additional one-year period commencing with the third anniversary of the Effective Date and, thereafter, on each such successive anniversary of the Effective Date thereafter (each an &#8220;Extension Date&#8221;), unless the Company or Executive provides the other party hereto at least 90 days prior written notice before the next Extension Date that the Employment Term shall not be so extended (a &#8220;Notice of Non-Renewal&#8221;).</font></div><div style="line-height:120%;padding-left:48px;text-align:left;text-indent:48px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Position, Duties and Authority</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:left;text-indent:96px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:10pt;">During the Employment Term, Executive shall serve as the Company&#8217;s Executive Vice President, Chief Investment Officer. In such position, Executive shall have such duties, functions, responsibilities and authority as shall be determined from time to time by either the Chief Executive Officer of the Company (the &#8220;CEO&#8221;) or the President of the Company (the &#8220;President&#8221;) and shall be consistent with the duties, functions, responsibilities and authority of an individual in Executive&#8217;s position at a public real estate company. Executive shall report to both the CEO and the President. </font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:left;text-indent:96px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:10pt;">Executive will devote his full business time and best efforts to the performance of Executive&#8217;s duties hereunder (excluding periods of vacation and sick