Maryland | 1-10093 | 13-6908486 | ||
(State or other jurisdiction | (Commission | (IRS Employer | ||
of incorporation) | File Number) | Identification No.) |
31500 Northwestern Highway, Suite 300, Farmington Hills, Michigan | 48334 |
(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code | (248) 350-9900 |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Item 9.01 | Exhibits | |||
(d) | Exhibits. | |||
10.1 | 2016 Executive Incentive Plan, dated February 29, 2016 |
RAMCO-GERSHENSON PROPERTIES TRUST | ||||
Date: March 4, 2016 | By: | /s/ GEOFFREY BEDROSIAN | ||
Geoffrey Bedrosian | ||||
Chief Financial Officer |
Exhibit | Description |
10.1 | 2016 Executive Incentive Plan, dated February 29, 2016 |
• | This Plan shall be administered by the Trust’s Compensation Committee, which shall be authorized to interpret this Plan, to make, amend and rescind rules and regulations relating to this Plan, to make awards under this Plan, and to make all other determinations under this Plan necessary or advisable for its administration. The Compensation Committee may at its discretion reduce the payments that would otherwise be made under this Plan. |
• | The performance targets shall be established by the Compensation Committee based on the Trust’s approved 2016 budget. Under the Compensation Committee’s Charter, it has the discretion to exclude from the calculation of annual incentive goals, any non-recurring special charges and amounts. Such special charges could generally include items such as significant litigation and settlement costs; restructuring charges; changes in accounting policies; acquisition and divestiture impacts; and material unbudgeted expenses incurred by or at the direction of the Board. To that end, the Committee may consider any strategic decision or change in the budget made throughout the course of 2016 that can have a material impact on operating FFO per share, either positive or negative, that was not accounted for in the budget setting process at the beginning of the year. In particular, the ratios of net Debt to Adjusted EBITDA shall |
• | All determinations, interpretations and constructions made by the Compensation Committee shall be final and conclusive. |
• | Rights under this Plan may not be transferred, assigned or pledged. |
• | Nothing in this Plan confers on any participant any right to continued employment and this Plan does not interfere with the Trust’s right to terminate an employee’s employment. |
• | A participant must be a full-time employee in good standing at the date of payment of the award in or around February 2017 in order to receive any payment under the Plan. No payment will be made to any person who leaves the full-time employ of the Trust before such date. |