Common use of Annual Grants Clause in Contracts

Annual Grants. On each of March 2, 2018, March 2, 2019 and March 2, 2020, provided that Executive is continuously employed by DDR through such date, Executive shall be eligible to receive a grant of performance-based RSUs (or substantially similar award) covering a “target” number of Shares equal to the quotient of (i) $600,000 divided by (ii) the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on which it then trades, the payout of which grant will vary in accordance with the percentages set forth on Exhibit A attached hereto based on Company relative total shareholder return performance achievement based upon a peer group established by the Committee, measured over a three-year performance period beginning on March 1, 2018, March 1, 2019 or March 1, 2020, respectively, in each case subject to reduction by 1/3 (rounded to the nearest RSU) in the event that the Company’s absolute total shareholder return during the performance period is negative. Such performance-based RSUs will be payable, if earned, after the expiration of the applicable performance period, and such performance-based RSUs will be subject to terms and conditions set forth in the applicable award agreement.

Annual Grants. On each of March 2, 2018, March 2, 2019 and March 2, 2020, provided that Executive is continuously employed by DDR through such date, Executive shall be eligible to receive a grant of performance-based RSUs (or substantially similar award) covering a “target” number of Shares equal to the quotient of (i) $600,000 3,000,000 divided by (ii) the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on which it then trades, the payout of which grant will vary in accordance with the percentages set forth on Exhibit A attached hereto based on Company relative total shareholder return performance achievement based upon a peer group established by the Committee, measured over a three-year performance period beginning on March 1, 2018, March 1, 2019 or March 1, 2020, respectively, in each case subject to reduction by 1/3 (rounded to the nearest RSU) in the event that the Company’s absolute total shareholder return during the performance period is negative. Such performance-based RSUs will be payable, if earned, after the expiration of the applicable performance period, and such performance-based RSUs will be subject to terms and conditions set forth in the applicable award agreement.

Annual Grants. On or about each of March 2, 2018, March 2, 2019 2021 and March 2, 20202022, provided that Executive is continuously employed by DDR SITE Centers through such date, Executive shall be eligible to receive a grant of performance-based RSUs (or substantially similar award) covering a “target” number of Shares equal to the quotient of (i) $600,000 450,000 divided by (ii) the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on which it then trades, the payout of which grant will vary in accordance with the percentages multiples set forth on Exhibit A attached hereto based on Company relative total shareholder return performance achievement based upon a peer group established by the Committee, measured over a three-year performance period beginning on March 1, 2018, March 1, 2019 2021 or March 1, 20202022, respectively, in each case subject to reduction by 1/3 (rounded to the nearest RSU) in the event that the Company’s absolute total shareholder return during the applicable performance period is negative. Such performance-based RSUs will be payable, if earned, after the expiration of the applicable performance period, and such performance-based RSUs will be subject to terms and conditions set forth in the applicable award agreement.