EX-10.1 2 v215833_ex10-1.htm Unassociated Document
EXHIBIT 10.1

2011 Executive Annual Bonus Plan

Total executive bonus opportunities will be based on 2011 base salaries as follows:

   
Percentage of
 
   
2011 Base Salary
 
   
Opportunity
 
H. Eric Bolton, Jr.
    200 %
Albert M. Campbell, III
    100 %
Thomas L. Grimes, Jr.
    100 %
James Andrew Taylor
    100 %

The bonus opportunity will be earned by performance in the following areas: year-over-year funds from operations per diluted share/unit, or FFO per Share growth and same store gross operating income, or GOI, growth. The weight of these performance factors for each executive officer will be as follows:

   
FFO per Share
   
Same Store
 
   
Growth
   
GOI Growth
 
H. Eric Bolton, Jr.
    100 %     0 %
Albert M. Campbell, III
    100 %     0 %
Thomas L. Grimes, Jr.
    62.5 %     37.5 %
James Andrew Taylor
    62.5 %     37.5 %

The percentage of bonus opportunity earned from performance growth targets will be based on a sliding scale as follows:

   
Percentage of
 
Performance
 
Bonus Opportunity
 
Level
 
Earned
 
Minimum Threshold
    0.0 %
Threshold I
    12.5 %
Threshold II
    25.0 %
Threshold III
    37.5 %
Target
    50.0 %
Target I
    62.5 %
Target II
    75.0 %
Target III
    87.5 %
High
    100.0 %

In determining FFO per Share growth, the Compensation Committee has the ability to factor in any material and non-recurring events that may or may not occur that impact the registrant’s FFO per Share performance, but may or may not subsequently impact the registrant’s share price, to help ensure that the potential bonus is in line with actual shareholder performance.

After the total bonus opportunity is calculated, the Compensation Committee, at its discretion, may apply a discretionary modifier allowing the bonus opportunity calculated to be lowered or raised by up to 25% to determine the final bonus award amount.