Heritage Property Investment Trust, Inc. Named Executive Officer Compensation Schedule (2005–2006)
This document outlines the compensation schedule for named executive officers of Heritage Property Investment Trust, Inc. for 2005 and 2006. It lists the base salaries, bonus incentive awards, and restricted share grants for each executive, including the President, CFO, and other senior officers. The restricted shares are subject to transfer restrictions and risk of forfeiture, which lapse over three years. The agreement ensures transparency in executive compensation and sets out the terms for salary and incentive awards for the specified years.
Exhibit 10.1
Heritage Property Investment Trust, Inc.
Named Executive Officer Compensation Schedule
Name and Principal Position |
| 2005 |
| 2005 |
| Incentive |
| 2006 |
| |||
|
|
|
|
|
|
|
|
|
| |||
Thomas C. Prendergast, President and Chief Executive Officer |
| $ | 615,000 |
| $ | 615,000 |
| 48,000 |
| $ | 615,000 |
|
|
|
|
|
|
|
|
|
|
| |||
David G. Gaw, Senior V.P. and Chief Financial Officer |
| $ | 300,000 |
| $ | 180,000 |
| 15,000 |
| $ | 300,000 |
|
|
|
|
|
|
|
|
|
|
| |||
Robert G. Prendergast, Senior V.P. and Chief Operating Officer |
| $ | 285,000 |
| $ | 171,000 |
| 15,000 |
| $ | 300,000 |
|
|
|
|
|
|
|
|
|
|
| |||
Barry Rodenstein, V.P., Leasing |
| $ | 240,000 |
| $ | 96,000 |
| 4,500 |
| $ | 240,000 |
|
|
|
|
|
|
|
|
|
|
| |||
Bruce A. Anderson, V.P., Acquisitions |
| $ | 205,000 |
| $ | 82,000 |
| 4,500 |
| $ | 220,000 |
|
(1) These restricted shares are subject to transfer restrictions and risk of forfeiture that terminate ratably over three years. The restricted shares were awarded based on a value of $38.90 per share, the closing price of Heritage Common Stock on March 8, 2006.