SEC Contract Filing

Filing Date: 2016-02-16

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d282067dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION COPY </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT
AGREEMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Daniel Hurwitz) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">EMPLOYMENT AGREEMENT (the &#147;Agreement&#148;) dated February&nbsp;12, 2016 by and between Brixmor Property Group Inc. (the
&#147;Company&#148;) and Daniel Hurwitz (&#147;Executive&#148;) (collectively, the &#147;Parties&#148; or each individually a &#147;Party&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company desires to employ Executive as the Company&#146;s Interim Chief Executive Officer and President during the Company&#146;s search
for a permanent Chief Executive Officer and President, and to enter into an agreement embodying the terms of such employment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Executive
desires to accept such employment and enter into such an agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In consideration of the premises and mutual covenants herein and for
other good and valuable consideration, the Parties agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Term of Employment</U>. Subject to the provisions of
Section&nbsp;5 of this Agreement, Executive shall be employed by the Company for a period commencing on February&nbsp;7, 2016 (the &#147;Effective Date&#148;) and ending six (6)&nbsp;months after the Effective Date (the &#147;Employment Term&#148;)
on the terms and subject to the conditions set forth in this Agreement; <U>provided</U>, <U>however</U>, that unless terminated pursuant to Section&nbsp;5, the Employment Term shall be automatically extended for additional one-month periods
commencing six months after the Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Position, Duties and Authority</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) During the Employment Term, Executive shall serve as the Company&#146;s Interim Chief Executive Officer and President. In such position,
Executive shall have such duties, functions, responsibilities and authority as shall be determined from time to time by the Board of Directors of the Company (the &#147;Board&#148;) and be consistent with the duties, functions, responsibilities and
authority of a chief executive officer and president of a publicly-traded real estate investment trust. Executive shall report to the Board. The Company shall cause Executive to be appointed as a member of the Board without additional compensation,
and shall nominate Executive for election and re-election to the Board as and when Executive&#146;s Board term expires during the Employment Term. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Executive will devote substantially all of his business time and best efforts to the performance of Executive&#146;s duties hereunder and
will not engage in any other business, profession or occupation for compensation or otherwise which would materially conflict or interfere with the rendition of such services either directly or indirectly, without the prior written consent of the
Board; <U>provided, however</U>, that nothing herein shall preclude Executive, subject to the prior approval of the Board, from (i)&nbsp;accepting appointment to or continuing to serve on any board of directors or trustees of any business
corporation, (ii)&nbsp;serving as an officer or director or otherwise participating in non-profit educational, welfare, social, religious and civil organizations, including, without limitation, all such positions and participation in effect as of
the Effective Date, and (iii)&nbsp;managing personal and family investments; <U>provided, however</U>, that any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 1 </P>

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such activities as described in (i), (ii)&nbsp;or (iii)&nbsp;of the preceding provisions of this paragraph do not materially conflict or interfere with the performance and fulfillment of the
Executive&#146;s duties and responsibilities as an executive of the Company in accordance with this Agreement. Executive shall be permitted to retain all compensation in respect of any of the services or activities referred to in the first proviso
of the first sentence of this Section&nbsp;2(b). Notwithstanding the foregoing, the Company acknowledges and agrees that all of Executive&#146;s professional, civic and charitable responsibilities and activities about which he has informed the
Company are deemed approved by the Board and that Executive is determined to be in compliance with Executive&#146;s obligations under this Section&nbsp;2(b) if he continues such outs