SEC Contract Filing

Filing Date: 2016-05-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>mac-3312016xexhibit102.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<div><a name="s0E72BCE6E6F35245310E544BAA59B15A"></a></div><div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THE MACERICH COMPANY</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">[2016] LTIP UNIT AWARD AGREEMENT <br>(PERFORMANCE-BASED)</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%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[2016] LTIP UNIT AWARD AGREEMENT (Performance-Based) made as of the date set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto between The Macerich Company, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), its subsidiary The Macerich Partnership, L.P., a Delaware limited partnership and the entity through which the Company conducts substantially all of its operations (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the party listed on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;(the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grantee</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A.&#160;&#160;&#160;&#160;The Grantee is a key employee of the Company or one of its Subsidiaries or affiliates and provides services to the Partnership.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.&#160;&#160;&#160;&#160;Pursuant to its Long-Term Incentive Plan (&#8220;LTIP&#8221;) the Company can award units of limited partnership interest of the Partnership designated as &#8220;LTIP Units&#8221; in the Partnership Agreement (as defined herein) under The Macerich Company 2003 Equity Incentive Plan, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2003 Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;), to provide certain key employees of the Company or its Subsidiaries and affiliates, including the Grantee, in connection with their employment with the long-term incentive compensation described in this Award Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; or &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and thereby provide additional incentive for them to promote the progress and success of the business of the Company and its Subsidiaries and affiliates, including the Partnership, while increasing the total return to the Company&#8217;s stockholders. [2016] LTIP Units (PB) (as defined herein) have been awarded by the Compensation Committee (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Committee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of the Board of Directors of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:12pt;">&#8221;) pursuant to authority delegated to it by the Board as set forth in the Committee&#8217;s charter, including authority to make grants of equity interests in the Partnership which may, under certain circumstances, become exchangeable for shares of the Company&#8217;s Common Stock reserved for issuance under the 2003 Plan, or any successor equity plan (as any such plan may be amended, modified or supplemented from time to time, collectively the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Stock Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;). This Agreement evidences an award to the Grantee under the LTIP (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:12pt;">&#8221;), whi