Heritage Property Investment Trust, Inc. Named Executive Officer Compensation Schedule (2005–2006)

Summary

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.

EX-10.1 2 a06-6756_1ex10d1.htm MATERIAL CONTRACTS

Exhibit 10.1

 

Heritage Property Investment Trust, Inc.

 

Named Executive Officer Compensation Schedule

 

Name and Principal Position

 

2005
Salary

 

2005
Bonus

 

Incentive
Award(1)

 

2006
Base
Salary

 

 

 

 

 

 

 

 

 

 

 

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.