Attached files
file | filename |
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8-K - FORM 8-K - BRANDYWINE REALTY TRUST | c13769e8vk.htm |
EX-10.1 - EXHIBIT 10.1 - BRANDYWINE REALTY TRUST | c13769exv10w1.htm |
EX-10.4 - EXHIBIT 10.4 - BRANDYWINE REALTY TRUST | c13769exv10w4.htm |
EX-10.2 - EXHIBIT 10.2 - BRANDYWINE REALTY TRUST | c13769exv10w2.htm |
EX-10.5 - EXHIBIT 10.5 - BRANDYWINE REALTY TRUST | c13769exv10w5.htm |
Exhibit 10.3
General Form
BRANDYWINE REALTY TRUST
INCENTIVE STOCK OPTION
INCENTIVE STOCK OPTION
This is an Incentive Stock Option Award (the Award) from Brandywine Realty Trust, a
Maryland real estate investment trust (the Company), to (Optionee)
and is dated March 2, 2011 (the Date of Grant). Terms used herein as defined terms and
not defined herein have the meanings assigned to them in the Brandywine Realty Trust Amended and
Restated 1997 Long-Term Incentive Plan, as amended from time to time (the Plan).
1. Definitions. As used herein:
(a) Board means the Board of Trustees of the Company, as constituted from time to
time.
(b) Cause means Cause as defined in the Plan.
(c) Change of Control means a Change of Control as defined in the Plan.
(d) Closing means the closing of the acquisition and sale of the Shares as described
in, and subject to the provisions of, Paragraph 8 hereof.
(e) Closing Date means the date of the Closing.
(f) Code means the Internal Revenue Code of 1986, as amended from time to time, and
any successor thereto.
(g) Common Share means a common share of beneficial interest, $.01 par value per
share, of the Company.
(h) Committee means the Committee appointed by the Board in accordance with Section
2 of the Plan, if one is appointed and in existence at the time of reference. If no committee has
been appointed pursuant to Section 2, or if such a committee is not in existence at the time of
reference, Committee means the Board.
(i) Date of Exercise means the date on which the notice required by Paragraph 5
hereof is given.
(j) Date of Grant has the meaning shown above.
(k) Disability means Disability as defined in the Plan.
(l) Expiration Date means the earliest of the following:
(i) | If the Optionee terminates employment with the Company for any reason other than death, Disability, Retirement or for Cause, 5:00 p.m. on the date 90 days following such termination of employment; | ||
(ii) | If the Optionee terminates employment with the Company because of death or Disability, 5:00 p.m. on the first anniversary of the date the Optionee terminates employment because of death or Disability; | ||
(iii) | If the Optionee terminates employment with the Company for Cause, 5:00 p.m. on the date of such termination of employment; | ||
(iv) | The close of business on the date of a Change of Control; | ||
(v) | 5:00 p.m. on the day before the tenth anniversary of the Date of Grant. |
For clarity, the phrase If the Optionee terminates employment with the Company, as used herein,
means a termination of the Optionees employment with the Company whether on account of (x) the
Company terminating Optionees employment or (y) the Optionees resignation of employment.
(m) Fair Market Value means the Fair Market Value of a Share, as determined pursuant
to the Plan.
(n) Option means the option to purchase Shares hereby granted.
(o) Option Price means $11.89 per Share. In the event of any recapitalization,
Share distribution or dividend, Share split or combination, the Option Price shall be equitably and
proportionally adjusted. The Option Price shall also be subject to adjustment pursuant to Section
3(c) of the Plan if, as and to the extent determined by the Committee in its sole discretion.
(p) Retirement means Optionees separation from service (within the meaning of
Treasury Regulation § 1.409A-1(h) (or any successor regulation)) from the Company and its
Subsidiaries after attaining at least age fifty seven (57) and completing at least fifteen (15)
years of continuous full-time service with the Company and/or its Subsidiaries. For purposes of
determining the duration of Optionees continuous full-time service with the Company and its
Subsidiaries, Optionee shall be credited with service at a company acquired by the Company
(directly or through a Subsidiary) for periods that precede the acquisition date.
(q) Shares means the Common Shares which are the subject of the Option
hereby granted. In the event of any recapitalization, Share distribution or dividend, Share split
or combination, the number of Shares that remain subject to the Option shall be equitably and
proportionally adjusted if, as and to the extent determined by the Committee in its sole
discretion. The number of Shares that remain subject to the Option shall also be subject to
adjustment pursuant to Section 3(c) of the Plan if, as and to the extent determined by the
Committee in its sole discretion.
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(r) Subsidiary means, with respect to the Company, a subsidiary company, whether now
or hereafter existing, as defined in section 424(f) of the Code.
2. Grant of Option. Subject to the terms and conditions set forth herein and in the
Plan, the Company hereby grants to the Optionee the Option to purchase any or all of the Shares.
3. Time of Exercise of Options.
(a) Subject to Paragraph 3(b), the Option may be exercised on or after the third anniversary
of the Date of Grant, and shall remain exercisable until the Expiration Date, when the right to
exercise shall terminate absolutely. No Shares subject to the Option shall first become
exercisable following the termination of the Optionees employment with the Company whether on
account of (x) the Company terminating Optionees employment or (y) the Optionees resignation of
employment; provided, however, that if such termination or resignation constitutes a
Retirement then the Option shall become exercisable for 100% of the Shares subject to the Option
and shall remain exercisable until the earlier of the events specified in clauses (iv) and (v) of
the definition of the term Expiration Date.
(b) Notwithstanding Paragraph 3(a), the Option shall become fully exercisable upon the
earliest of (i) the occurrence of a Change of Control, (ii) the death of the Optionee, (iii) the
Disability of the Optionee or (iv) the Retirement of the Optionee. In addition, notwithstanding
anything to the contrary set forth in the Plan or this Award, upon or in anticipation of any Change
in Control, the Committee may, in its sole and absolute discretion and without the need for the
consent of the Optionee, take one or more of the following actions contingent upon the occurrence
of that Change in Control: (i) cause the Option to become fully vested and immediately exercisable
for a reasonable period in advance of the Change in Control and, to the extent not exercised prior
to that Change in Control, cancel the Option upon closing of the Change in Control; (ii) cancel the
Option, in whole or in part, in exchange for a substitute option in a manner consistent with the
requirements of Treas. Reg. §1.424-1(a) or any successor rule or regulation (notwithstanding the
fact that the original Option was not intended to satisfy the requirements for treatment as an
Incentive Stock Option); or (iii) cancel the Option, in whole or in part, in exchange for cash
and/or other substitute consideration with a value equal to (A) the number of Shares subject to the
Option, multiplied by (B) the difference, if any, between the Fair Market Value per Share on the
date of the Change in Control and the Option Price; provided, that if the Fair Market Value per
Share on the date of the Change in Control does not exceed the Option Price of the Option, the
Committee may cancel the Option without any payment of consideration therefor. In the discretion
of the Committee, any cash or substitute consideration payable upon cancellation of the Option may
be subjected to earn-out, escrow, holdback or similar arrangements, to the extent such arrangements
are applicable to any consideration paid to shareholders in connection with the Change in Control.
-3-
4. Payment for Shares. Full payment for Shares purchased upon the exercise of an
Option may be made in cash. In addition, this Option may be exercised through means of a net
settlement, whereby the Option Price will be satisfied by cancellation of the Companys obligation
to issue a number of Common Shares otherwise issuable upon such exercise, which number of Common
Shares will be equal to: (A) the total Option Price payable to acquire the
number of Shares as to which the Option is then being exercised divided by (B) the then
current Fair Market Value per Common Share. The number of Shares actually issuable upon such
exercise will then be equal to the difference between the number of Shares as to which the Option
is then being exercised and the number of Shares described in the preceding sentence. Without
limiting the foregoing, payment for Shares purchased upon the exercise of an Option may, at the
election of the Optionee and as the Committee may, in its discretion, approve, by surrendering
Common Shares with an aggregate Fair Market Value equal to the aggregate Option Price.
5. Manner of Exercise. The Option shall be exercised by giving written notice of
exercise to:
Brandywine Realty Trust
555 East Lancaster Avenue
Suite 100
Radnor, PA 19087
Attention: General Counsel
555 East Lancaster Avenue
Suite 100
Radnor, PA 19087
Attention: General Counsel
All notices under this agreement shall be deemed to have been given when hand-delivered, telecopied
or transmitted electronically and shall be irrevocable once given.
6. Nontransferability of Option. The Option may not be transferred or assigned by the
Optionee otherwise than by will or by the laws of descent and distribution, and all Options shall
be exercisable, during the Optionees lifetime, only by the Optionee, or, in the event of his
Disability, by his personal representative; and any attempt at assignment or transfer contrary to
the provisions of the Plan or the levy of any execution, attachment or similar process upon the
Option shall be null and void and without effect. Any exercise of the Option by a person other
than the Optionee shall be accompanied by appropriate proofs of the right of such person to
exercise the Option.
7. Securities Laws. The Committee may from time to time impose any conditions on the
exercise of the Option as it deems necessary or appropriate to comply with the then-existing
requirements of the Securities Act of 1933, as amended, or of the Securities Exchange Act of 1934,
as amended, including Rule 16b-3 (or any similar rule) of the Securities and Exchange Commission.
If the listing, registration or qualification of Shares issuable on the exercise of the Option upon
any securities exchange or under any federal or state law, or the consent or approval of any
governmental regulatory body is necessary as a condition of or in connection with the purchase of
such Shares, the Company shall not be obligated to issue or deliver the certificates (if any)
representing the Shares otherwise issuable on the exercise of the Option unless and until such
listing, registration, qualification, consent or approval shall have been effected or obtained. If
registration is considered unnecessary by the Company or its counsel, the Company may cause a
legend to be placed on such Shares calling attention to the fact that they have been acquired for
investment and have not been registered.
-4-
8. Issuance of Certificate at Closing; Payment of Cash. Subject to the provisions of
this Paragraph 8, the Closing Date shall occur as promptly as is feasible after the exercise of the
Option. Subject to the provisions of Paragraphs 7 and 9 hereof, a certificate for
the Shares issuable on the exercise of the Option shall be delivered to the Optionee or to his
personal representative, heir or legatee at the Closing, provided that no certificates for
Shares will be delivered to the Optionee or to his personal representative, heir or legatee unless
the Option Price has been paid in full and provided further that the Company may elect to
provide for the issuance and delivery of the Shares via book entry or in uncertificated form.
9. Rights Prior to Exercise. The Optionee shall not have any right as a shareholder
with respect to any Shares subject to his Options until the Option shall have been exercised in
accordance with the terms of the Plan and this Award and the Optionee shall have paid the full
purchase price for the number of Shares in respect of which the Option was exercised, provided
that in the event that the Optionees employment with the Company is terminated for Cause, upon
a determination by the Committee, the Optionee shall automatically forfeit all Shares otherwise
subject to delivery upon exercise of an Option but for which the Company has not yet delivered the
Share certificates or issued the Shares via book entry or in uncertificated form, upon refund by
the Company of the Option Price.
10. Status of Option; Interpretation. The Option is intended to qualify as an
incentive stock option within the meaning of section 422 of the Code. The interpretation and
construction of any provision of this Option or the Plan made by the Committee shall be final and
conclusive and, insofar as possible, shall be consistent with the intention expressed in this
Paragraph 10.
11. Option Not to Affect Employment. The Option granted hereunder shall not confer
upon the Optionee any right to continue in the employment of the Company or any Subsidiary.
12. Miscellaneous.
(a) The address for the Optionee to which notice, demands and other communications to be given
or delivered under or by reason of the provisions hereof shall be the address contained in the
Companys personnel records.
(b) This Award and all questions relating to its validity, interpretation, performance, and
enforcement shall be governed by and construed in accordance with the laws of the State of
Maryland.
13. Withholding of Taxes. Whenever the Company proposes or is required to deliver or
transfer Shares in connection with the exercise of the Option, the Company shall have the right to
(a) require the Optionee to remit to the Company an amount in cash or Common Shares (valued at the
then current Fair Market Value) sufficient to satisfy any federal, state and/or local withholding
tax requirements prior to the delivery or transfer of any certificate or certificates for such
Shares or (b) take whatever action it deems necessary to protect its interests with respect to tax
liabilities.
-5-
14. Notice of Sale. The Optionee agrees to promptly notify the Company if the
Optionee disposes of Shares acquired on the exercise of the Option on or before the first
anniversary of the date of exercise as of which the Optionee acquired such Shares. For this
purpose, a disposition includes a sale, exchange, gift or other transfer of legal title to such
Common Shares, other than (a) a transfer following the Optionees death to an estate or a
transfer by bequest or inheritance, (b) a pledge or hypothecation or (c) a transfer of ownership
into ownership of the Optionee and another person jointly with right of survivorship.
IN WITNESS WHEREOF, the Company has granted this Award on the day and year first above
written.
BRANDYWINE REALTY TRUST |
||||
BY: | ||||
TITLE: | ||||
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Form for CEO
BRANDYWINE REALTY TRUST
INCENTIVE STOCK OPTION
INCENTIVE STOCK OPTION
This is an Incentive Stock Option Award (the Award) from Brandywine Realty Trust, a
Maryland real estate investment trust (the Company), to Gerard H. Sweeney
(Optionee) and is dated March 2, 2011 (the Date of Grant). Terms used herein
as defined terms and not defined herein have the meanings assigned to them in the Brandywine Realty
Trust Amended and Restated 1997 Long-Term Incentive Plan, as amended from time to time (the
Plan).
1. Definitions. As used herein:
(a) Board means the Board of Trustees of the Company, as constituted from time to
time.
(b) Cause means Cause as defined in the Employment Agreement.
(c) Change of Control means a Change of Control as defined in the Plan.
(d) Closing means the closing of the acquisition and sale of the Shares as described
in, and subject to the provisions of, Paragraph 8 hereof.
(e) Closing Date means the date of the Closing.
(f) Code means the Internal Revenue Code of 1986, as amended from time to time, and
any successor thereto.
(g) Common Share means a common share of beneficial interest, $.01 par value per
share, of the Company.
(h) Committee means the Committee appointed by the Board in accordance with Section
2 of the Plan, if one is appointed and in existence at the time of reference. If no committee has
been appointed pursuant to Section 2, or if such a committee is not in existence at the time of
reference, Committee means the Board.
(i) Date of Exercise means the date on which the notice required by Paragraph 5
hereof is given.
(j) Date of Grant has the meaning shown above.
(k) Disability means Disability as defined in the Plan.
(l) Employment Agreement means the Amended and Restated Employment Agreement between
Grantee and the Company, dated as of February 9, 2007, as
amended from time to time, or any subsequent employment agreement between Grantee and the
Company as in effect at the time of determination.
(m) Expiration Date means the earliest of the following:
(i) | If the Optionee terminates employment with the Company for any reason other than death, Disability, Retirement or for Cause, 5:00 p.m. on the date 90 days following such termination of employment; | ||
(ii) | If the Optionee terminates employment with the Company because of death or Disability, 5:00 p.m. on the first anniversary of the date the Optionee terminates employment because of death or Disability; | ||
(iii) | If the Optionee terminates employment with the Company for Cause, 5:00 p.m. on the date of such termination of employment; | ||
(iv) | The close of business on the date of a Change of Control; | ||
(v) | 5:00 p.m. on the day before the tenth anniversary of the Date of Grant. |
(n) Fair Market Value means the Fair Market Value of a Share, as determined pursuant
to the Plan.
(o) Option means the option to purchase Shares hereby granted.
(p) Option Price means $11.89 per Share. In the event of any recapitalization,
Share distribution or dividend, Share split or combination, the Option Price shall be equitably and
proportionally adjusted. The Option Price shall also be subject to adjustment pursuant to Section
3(c) of the Plan if, as and to the extent determined by the Committee in its sole discretion.
(q) Retirement means Optionees separation from service (within the meaning of
Treasury Regulation § 1.409A-1(h) (or any successor regulation)) from the Company and its
Subsidiaries after attaining at least age fifty seven (57) and completing at least fifteen (15)
years of continuous full-time service with the Company and/or its Subsidiaries. For purposes of
determining the duration of Optionees continuous full-time service with the Company and its
Subsidiaries, Optionee shall be credited with service at a company acquired by the Company
(directly or through a Subsidiary) for periods that precede the acquisition date.
(r) Resignation for Good Reason means Resignation for Good Reason as defined in
the Employment Agreement.
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(s) Shares
means the 8,410 Common Shares which are the subject of the Option
hereby granted. In the event of any recapitalization, Share distribution or
dividend, Share split or combination, the number of Shares that remain subject to the Option
shall be equitably and proportionally adjusted. The number of Shares that remain subject to the
Option shall also be subject to adjustment pursuant to Section 3(c) of the Plan.
(t) Subsidiary means, with respect to the Company, a subsidiary company, whether now
or hereafter existing, as defined in section 424(f) of the Code.
2. Grant of Option. Subject to the terms and conditions set forth herein and in the
Plan, the Company hereby grants to the Optionee the Option to purchase any or all of the Shares.
3. Time of Exercise of Options.
(a) Subject to Paragraph 3(b), the Option may be exercised on or after the third anniversary
of the Date of Grant, and shall remain exercisable until the Expiration Date, when the right to
exercise shall terminate absolutely. No Shares subject to the Option shall first become
exercisable following the Optionees termination of employment; provided, however, that if such
termination constitutes a Retirement then the Option shall become exercisable for 100% of the
Shares subject to the Option and shall remain exercisable until the earlier of the events specified
in clauses (iv) and (v) of the definition of the term Expiration Date.
(b) Notwithstanding Paragraph 3(a), the Option shall become fully exercisable upon the
earliest of (i) the occurrence of a Change of Control, (ii) the death of the Optionee, (iii) the
Disability of the Optionee, (iv) the Retirement of the Optionee or (v) termination of the
Optionees employment with the Company without Cause or resignation of the Optionee employment with
the Company that is a Resignation for Good Reason. In addition, notwithstanding anything to the
contrary set forth in the Plan or this Award, upon or in anticipation of any Change in Control, the
Committee may, in its sole and absolute discretion and without the need for the consent of the
Optionee, take one or more of the following actions contingent upon the occurrence of that Change
in Control: (i) cause the Option to become fully vested and immediately exercisable for a
reasonable period in advance of the Change in Control and, to the extent not exercised prior to
that Change in Control, cancel the Option upon closing of the Change in Control; (ii) cancel the
Option, in whole or in part, in exchange for a substitute option in a manner consistent with the
requirements of Treas. Reg. §1.424-1(a) or any successor rule or regulation (notwithstanding the
fact that the original Option was not intended to satisfy the requirements for treatment as an
Incentive Stock Option); or (iii) cancel the Option, in whole or in part, in exchange for cash
and/or other substitute consideration with a value equal to (A) the number of Shares subject to the
Option, multiplied by (B) the difference, if any, between the Fair Market Value per Share on the
date of the Change in Control and the Option Price; provided, that if the Fair Market Value per
Share on the date of the Change in Control does not exceed the Option Price of the Option, the
Committee may cancel the Option without any payment of consideration therefor. In the discretion
of the Committee, any cash or substitute consideration payable upon cancellation of the Option may
be subjected to earn-out, escrow, holdback or similar arrangements, to the extent such arrangements
are applicable to any consideration paid to shareholders in connection with the Change in Control.
-3-
4. Payment for Shares. Full payment for Shares purchased upon the exercise of an
Option may be made in cash. In addition, this Option may be exercised through means of a net
settlement, whereby the Option Price will be satisfied by cancellation of the Companys obligation
to issue a number of Common Shares otherwise issuable upon such exercise, which number of Common
Shares will be equal to: (A) the total Option Price payable to acquire the number of Shares as to
which the Option is then being exercised divided by (B) the then current Fair Market Value per
Common Share. The number of Shares actually issuable upon such exercise will then be equal to the
difference between the number of Shares as to which the Option is then being exercised and the
number of Shares described in the preceding sentence. Without limiting the foregoing, payment for
Shares purchased upon the exercise of an Option may, at the election of the Optionee and as the
Committee may, in its discretion, approve, by surrendering Common Shares with an aggregate Fair
Market Value equal to the aggregate Option Price.
5. Manner of Exercise. The Option shall be exercised by giving written notice of
exercise to:
Brandywine Realty Trust
555 East Lancaster Avenue
Suite 100
Radnor, PA 19087
Attention: General Counsel
555 East Lancaster Avenue
Suite 100
Radnor, PA 19087
Attention: General Counsel
All notices under this agreement shall be deemed to have been given when hand-delivered, telecopied
or transmitted electronically and shall be irrevocable once given.
6. Nontransferability of Option. The Option may not be transferred or assigned by the
Optionee otherwise than by will or by the laws of descent and distribution, and all Options shall
be exercisable, during the Optionees lifetime, only by the Optionee, or, in the event of his
Disability, by his personal representative; and any attempt at assignment or transfer contrary to
the provisions of the Plan or the levy of any execution, attachment or similar process upon the
Option shall be null and void and without effect. Any exercise of the Option by a person other
than the Optionee shall be accompanied by appropriate proofs of the right of such person to
exercise the Option.
7. Securities Laws. The Committee may from time to time impose any conditions on the
exercise of the Option as it deems necessary or appropriate to comply with the then-existing
requirements of the Securities Act of 1933, as amended, or of the Securities Exchange Act of 1934,
as amended, including Rule 16b-3 (or any similar rule) of the Securities and Exchange Commission.
If the listing, registration or qualification of Shares issuable on the exercise of the Option upon
any securities exchange or under any federal or state law, or the consent or approval of any
governmental regulatory body is necessary as a condition of or in connection with the purchase of
such Shares, the Company shall not be obligated to issue or deliver the certificates (if any)
representing the Shares otherwise issuable on the exercise of the Option unless and until such
listing, registration, qualification, consent or approval shall have been effected or obtained. If
registration is considered unnecessary by the Company or its
counsel, the Company may cause a legend to be placed on such Shares calling attention to the
fact that they have been acquired for investment and have not been registered.
-4-
8. Issuance of Certificate at Closing; Payment of Cash. Subject to the provisions of
this Paragraph 8, the Closing Date shall occur as promptly as is feasible after the exercise of the
Option. Subject to the provisions of Paragraphs 7 and 9 hereof, a certificate for the Shares
issuable on the exercise of the Option shall be delivered to the Optionee or to his personal
representative, heir or legatee at the Closing, provided that no certificates for Shares
will be delivered to the Optionee or to his personal representative, heir or legatee unless the
Option Price has been paid in full and provided further that the Company may elect to
provide for the issuance and delivery of the Shares via book entry or in uncertificated form.
9. Rights Prior to Exercise. The Optionee shall not have any right as a shareholder
with respect to any Shares subject to his Options until the Option shall have been exercised in
accordance with the terms of the Plan and this Award and the Optionee shall have paid the full
purchase price for the number of Shares in respect of which the Option was exercised, provided
that in the event that the Optionees employment with the Company is terminated for Cause, upon
a determination by the Committee, the Optionee shall automatically forfeit all Shares otherwise
subject to delivery upon exercise of an Option but for which the Company has not yet delivered the
Share certificates or issued the Shares via book entry or in uncertificated form, upon refund by
the Company of the Option Price.
10. Status of Option; Interpretation. The Option is intended to qualify as an
incentive stock option within the meaning of section 422 of the Code. The interpretation and
construction of any provision of this Option or the Plan made by the Committee shall be final and
conclusive and, insofar as possible, shall be consistent with the intention expressed in this
Paragraph 10.
11. Option Not to Affect Employment. The Option granted hereunder shall not confer
upon the Optionee any right to continue in the employment of the Company or any Subsidiary.
12. Miscellaneous.
(a) The address for the Optionee to which notice, demands and other communications to be given
or delivered under or by reason of the provisions hereof shall be the address contained in the
Companys personnel records.
(b) This Award and all questions relating to its validity, interpretation, performance, and
enforcement shall be governed by and construed in accordance with the laws of the State of
Maryland.
13. Withholding of Taxes. Whenever the Company proposes or is required to deliver or
transfer Shares in connection with the exercise of the Option, the Company shall have the right to
(a) require the Optionee to remit to the Company an amount in cash or Common Shares (valued at the
then current Fair Market Value) sufficient to satisfy any federal, state and/or local withholding
tax requirements prior to the delivery or transfer of any certificate or
certificates for such Shares or (b) take whatever action it deems necessary to protect its
interests with respect to tax liabilities.
-5-
14. Notice of Sale. The Optionee agrees to promptly notify the Company if the
Optionee disposes of Shares acquired on the exercise of the Option on or before the first
anniversary of the date of exercise as of which the Optionee acquired such Shares. For this
purpose, a disposition includes a sale, exchange, gift or other transfer of legal title to such
Common Shares, other than (a) a transfer following the Optionees death to an estate or a transfer
by bequest or inheritance, (b) a pledge or hypothecation or (c) a transfer of ownership into
ownership of the Optionee and another person jointly with right of survivorship.
IN WITNESS WHEREOF, the Company has granted this Award on the day and year first above
written.
BRANDYWINE REALTY TRUST |
||||
BY: | ||||
TITLE: | ||||
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