Summary of Compensation Program for Non-Employee Trustees of Ramco-Gershenson Properties Trust

Summary

This document outlines the compensation program for non-employee members of the Board of Trustees of Ramco-Gershenson Properties Trust. Trustees receive an annual cash retainer and an annual equity retainer in the form of restricted shares, which vest over three years. Additional cash retainers are provided for serving as chair of various committees. Trustees are also reimbursed for expenses related to their duties. The equity grants are made under the Trust's 2012 Restricted Share Plan for Non-Employee Trustees.

EX-10.9 2 a50566772_ex109.htm EXHIBIT 10.9 a50566772_ex109.htm

Exhibit 10.9

SUMMARY OF COMPENSATION FOR
THE BOARD OF TRUSTEES OF
RAMCO-GERSHENSON PROPERTIES TRUST


The following table sets forth the compensation program for non-employee Trustees:



Annual cash retainer (1)		$	30,000
Additional cash retainer:
	Chairman		100,000
	Audit Committee chair		7,500
	Compensation Committee chair		5,000
	Nominating and Governance Committee chair		5,000
	Executive Committee chair		2,500
	Executive Committee members		-

Annual equity retainer (value of restricted shares) (2)			50,000

(1)

The annual cash retainer is equal to $80,000 less the grant date fair value, which approximates $50,000, of the restricted shares granted in the applicable year.

(2)

Grants are made under the Trust's 2012 Restricted Share Plan for Non-Employee Trustees. The restricted shares vest over three years. The grant is made on July 1st or, if not a business day, the business day prior to July 1st. During 2012, 3,962 shares were granted per Trustee.

The Trust also reimburses all Trustees for all expenses incurred in connection with attending any meetings or performing their duties as Trustees.