Maryland
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1-10093
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13-6908486
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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31500 Northwestern Highway, Suite 300, Farmington Hills, Michigan
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48334
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(Address of principal executive offices)
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(Zip Code)
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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 | Financial Statements and Exhibits | |
(d) | Exhibits. | |
10.1 | 2013 Executive Incentive Plan, dated January 3, 2013 |
RAMCO-GERSHENSON PROPERTIES TRUST
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Date: January 4, 2013
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By:
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/s/ Gregory R. Andrews | |
Gregory R. Andrews
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Chief Financial Officer
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Exhibit
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Description
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10.1
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2013 Executive Incentive Plan, dated January 3, 2013
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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.
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The performance targets shall be established by the Compensation Committee based on the Trust’s approved 2013 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 2013 that can have a material impact on 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 maximum ratio of Debt to EBITDA shall be subject to adjustment by the Compensation Committee in the event of material, unbudgeted capital expenditures (such as acquisitions or development projects) that are approved by the Board of Trustees during 2013.
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All determinations, interpretations and constructions made by the Compensation Committee shall be final and conclusive.
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Rights under this Plan may not be transferred, assigned or pledged.
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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.
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A participant must be a full-time employee in good standing at the date of payment of the award in or around March 2014 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.
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