Forfeiture Letter Agreement between RAIT Financial Trust and Officer Regarding Unvested Phantom Units

Contract Categories: Human Resources › Separation Agreements
Summary

This agreement is between an officer and RAIT Financial Trust. The officer agrees to forfeit all rights to certain unvested phantom units previously granted under the company's equity compensation plan. By signing, the officer gives up any claim to these units or any future income from them. The agreement is acknowledged by RAIT Financial Trust's Chief Financial Officer. The forfeiture is effective as of the date of the letter.

Read More Arrow
EX-10.28 5 dex1028.htm FORM OF FORFEITURE LETTERS Form of Forfeiture Letters

Exhibit 10.28

[Name of Officer]

December 7, 2007

RAIT Financial Trust

Cira Centre

2929 Arch Street, 17th Floor

Philadelphia, PA 19104

Attention: Jack E. Salmon, Chief Financial Officer and Treasurer

 

  Re: Forfeiture of Certain Unvested Phantom Units

To RAIT Financial Trust:

On January 23, 2007, RAIT Financial Trust (“RAIT”) granted to me              phantom units (the “Units”) pursuant to the RAIT Investment Trust 2005 Equity Compensation Plan. All of these Units are unvested as of the date hereof. Intending to be legally bound, I hereby forfeit said Units and relinquish any right, title or claim of interest therein or in any future income therefrom.

 

Sincerely,

 

Name: [Name of Officer]

ACKNOWLEDGED AND AGREED:

RAIT FINANCIAL TRUST

 

By:  

 

     December 7, 2007
Name:   Jack E. Salmon                 Date
Title:   Chief Financial Officer and Treasurer