Amendment No. 2 to JBG SMITH Properties 2017 Employee Share Purchase Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the 2017 Employee Share Purchase Plan for JBG SMITH Properties. Effective May 1, 2019, it changes how unused payroll deductions are handled: any remaining balance in an employee’s payroll deduction account at the end of an offering period will now be automatically refunded to the employee. The amendment was approved by the sole shareholder and applies to all participants in the plan.

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EX-10.31 4 jbgs-10kexhibit1031123.htm EXHIBIT 10.31 Exhibit


Exhibit 10.31


 
JBG SMITH Properties

Amendment No. 2

to the
 
2017 Employee Share Purchase Plan
 
(As approved by the sole shareholder on July 10, 2017)
The 2017 Employee Share Purchase Plan of JBG SMITH Properties, effective July 17, 2017 (the “ESPP”), is hereby amended as follows, effective May 1, 2019:
1.Section 11(d) of the ESPP is hereby deleted in its entirety and replaced with the following:

(d)    Return of Unused Payroll Deductions.  Any balance remaining in an employee’s payroll deduction account at the end of an Offering Period will be automatically refunded to the employee.