an amount equal to the sum of the then-current annual base salary plus average bonus over the prior three years, multiplied by three, 50% of which amount shall be paid in a lump sum and the remaining 50% of which amount will be paid in equal monthly installments over two years
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.1 2 a18673exv10w1.htm EXHIBIT 10.1 exv10w1
Exhibit 10.1
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this Amendment) is entered into effective as of March 27, 2006, by and between BioMed Realty Trust, Inc., a Maryland corporation (the REIT), BioMed Realty, L.P., a Maryland limited partnership (the Operating Partnership and, together with the REIT, the Company), and John F. Wilson, II (the Executive).
WHEREAS, the Company and the Executive desire to amend that certain Employment Agreement dated as of August 6, 2004, between the Company and Executive (the Original Agreement), to change Executives position with the Company.
NOW, THEREFORE, in consideration of the various covenants and agreements hereinafter set forth, the parties hereto agree as follows:
1. Amendment to Section 2. Section 2(a)(i) of the Original Agreement is hereby restated in its entirety to read as follows:
(i) During the Employment Period, the Executive shall serve as Executive Vice President Operations of the REIT and the Operating Partnership and shall perform such employment duties as are assigned by the REITs Chief Executive Officer and usual and customary for such positions. In such position, the Executive shall report to the REITs Board of Directors or, if the Board of Directors delegates such authority, to the REITs Chief Executive Officer. At the Companys request, the Executive shall serve the Company and/or its subsidiaries and affiliates in other offices and capacities in addition to the foregoing. In the event that the Executive, during the Employment Period, serves in any one or more of such additional capacities, the Executives compensation shall not be increased beyond that specified in Section 2(b) of this Agreement. In addition, in the event the Executives service in one or more of such additional capacities is terminated, the Executives compensation, as specified in Section 2(b) of this Agreement, shall not be diminished or reduced in any manner as a result of such termination for so long as the Executive otherwise remains employed under the terms of this Agreement.
2. No Other Amendments. Except as expressly provided for in this Amendment, no other term or provision of the Original Agreement is amended or modified in any respect.
(Signature Page Follows)
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first set forth above.
BIOMED REALTY TRUST, INC. | ||||
By: | /s/ ALAN D. GOLD | |||
Name: | Alan D. Gold | |||
Title: | Chief Executive Officer | |||
BIOMED REALTY, L.P. | ||||||
By: | BioMed Realty Trust, Inc., its general partner | |||||
By: /s/ ALAN D. GOLD | ||||||
Name: Alan D. Gold | ||||||
Title: Chief Executive Officer |
EXECUTIVE | ||||
/s/ JOHN F. WILSON, II | ||||
John F. Wilson, II |
[SIGNATURE PAGE TO FIRST AMENDMENT TO EMPLOYMENT AGREEMENT]