Advisory Agreement Renewal Letter between Universal Health Realty Income Trust and UHS of Delaware, Inc. (2013)
Universal Health Realty Income Trust (UHT) offers to renew its Advisory Agreement with UHS of Delaware, Inc. for another year, through December 31, 2013. The main change is an increase in the annual advisory fee from 0.65% to 0.70% of UHT's Average Invested Real Estate. All other terms remain the same. UHS of Delaware, Inc. must sign and return the letter to accept the renewal. This agreement outlines the ongoing advisory relationship and compensation terms between the two companies.
Exhibit 10.3
December 6, 2012
Steve Filton
Senior Vice President & CFO
UHS of Delaware, Inc.
367 South Gulph Road
King of Prussia, PA 19406
Dear Steve;
The Board of Trustees of Universal Health Realty Income Trust (“UHT”), at their December 6, 2012 meeting, authorized the renewal of the current Advisory Agreement between Universal Health Realty Income Trust and UHS of Delaware, Inc. (“Agreement”) upon substantially the same terms and conditions contained in the Agreement, except that the annual advisory fee will be increased from .65 percent to .70 percent of the Average Invested Real Estate of UHT, as defined in the Agreement.
This letter constitutes Universal Health Realty Income Trust’s offer to renew the Agreement, through December 31, 2013, upon such terms and conditions approved at the December 6, 2012 meeting.
Please acknowledge UHS of Delaware, Inc.’s acceptance of this offer by signing in the space provided below and returning one copy of this letter to me. Thank you.
Sincerely,
/s/ Cheryl K. Ramagano
Cheryl K. Ramagano
Vice President and Treasurer
Agreed and Accepted:
UHS OF DELAWARE, INC.
By: /s/ Steve Filton
Steve Filton
Senior Vice President and CFO
cc: Charles Boyle
