SEC Contract Filing

Filing Date: 2015-05-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>a8-k5152015ex104.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<a name="se2717ffada6a4342a2e91020212c3483"></a><div></div><br><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Exhibit 10.4</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS EMPLOYMENT AGREEMENT (the &#8220;Agreement&#8221;) is entered into as of May 13, 2015, by EPR PROPERTIES, a Maryland real estate investment trust (the &#8220;Company&#8221;) and Craig L. Evans (&#8220;Employee&#8221;). In consideration of the mutual covenants contained herein, the parties agree as follows:</font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;">DEFINITIONS. For purposes of this Agreement, the following terms shall have the following meanings.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;ANNUAL INCENTIVE PROGRAM&#8221; shall mean the annual incentive program of the Company, as amended from time to time, or any successor incentive program adopted by the Board or the Compensation and Human Capital Committee, pursuant to which annual Performance Bonuses and Incentive Bonuses may be awarded to Employee. Pursuant to the Annual Incentive Program, the Compensation and Human Capital Committee may adopt, or make recommendations to the Board, and the Board may adopt, an annual bonus for the Employee, which will be based primarily on the Employee&#8217;s performance, as measured by the Compensation and Human Capital Committee, for the most recently completed fiscal year.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;BOARD&#8221; shall mean the Board of Trustees of the Company. Notwithstanding anything herein to the contrary, the Board may authorize the Compensation and Human Capital Committee to take any action required to be taken by the Board pursuant to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;CAUSE&#8221; shall mean and be limited to an affirmative determination by the Board that any of the following has occurred: (a)&#160;Employee&#8217;s willful and continued failure or refusal to perform his duties with the Company (other than as a result of his Disability or incapacity due to mental or physical illness) which is not remedied in the reasonable good faith determination of the Board within 30 days after Employee&#8217;s receipt of written notice from the Board specifying the nature of such failure or refusal, (b)&#160;the willful engagement by Employee in misconduct which is materially and demonstrably injurious to the Company, or (c) Employee's conviction of a felony or other crime involving theft or moral turpitude. For purposes of this Agreement, no act or failure to act shall be considered &#8220;willful&#8221; unless done or omitted in bad faith and without reasonable belief that the act or omission was in the best interests of the Company. A failure or refusal to perform duties materially and adversely inconsistent with Employee&#8217;s position, as contemplated in paragraph&#160;(a) of the definition of &#8220;Good Reason,&#8221; shall not be considered willful or in bad faith.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;CHANGE IN CONTROL&#8221; shall mean the occurrence of any of the following events:</font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:96px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:12pt;">Incumbent Trustees cease for any reason to constitute at least a majority of the Board.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:96px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:12pt;">Any &#8220;person&#8221; (as defined in Section&#160;3(a)(9) of the Exchange Act and as used in Sections&#160;13(d)(3) and 14(d)(2) of the Exchange Act) or &#8220;group&#8221; (within the contemplation of </font></div><br><div></div><hr style="page-break-after:always"><a name="se2717ffada6a4342a2e91020212c3483"></a><div></div><br><div style="line-height:120%;padding-left:0px;text-align:justify;"><font sty