Common use of Annual RSUs Clause in Contracts

Annual RSUs. No later than March 15 of each calendar year during the Contract Period, provided that Executive is continuously employed by SITE Centers through the applicable date of grant, Executive shall be eligible to receive a grant of service-based RSUs (or substantially similar award) covering a number of Shares equal to the quotient of (A) not less than $250,000 divided by (B) the average closing price of a Share for the ten trading days immediately preceding (but not including) the date of grant on the principal stock exchange on which it then trades (the “Annual RSUs”). Each grant of Annual RSUs will, in general, vest subject to Executive’s continued employment with the Company in three substantially equal installments on each of the first three anniversaries of the applicable date of grant, and dividend equivalents credited with respect to such Annual RSUs will be paid in cash on a current basis.

Annual RSUs. No later than March 15 of each calendar year during the Contract PeriodPeriod (starting with 2024), provided that Executive is continuously employed by SITE Centers through the applicable date of grant, Executive shall be eligible to receive a grant of service-based RSUs (or substantially similar award) covering a number of Shares equal to the quotient of (A) not less than $250,000 150,000 divided by (B) the average closing price of a Share for the ten 10 trading days immediately preceding (but not including) the date of grant on the principal stock exchange on which it then trades (the “Annual RSUs”). Each grant of Annual RSUs will, in general, vest (subject to Executive’s continued employment with the Company and notwithstanding any termination of this Agreement) in three four substantially equal installments on each of the first three four anniversaries of the applicable date of grant, and dividend equivalents will be credited with respect to such Annual RSUs and will be paid in cash on a current basis.

Annual RSUs. No later than March 15 of each calendar year during the Contract PeriodPeriod (starting with 2024), provided that Executive is continuously employed by SITE Centers through the applicable date of grant, Executive shall be eligible to receive a grant of service-based RSUs (or substantially similar award) covering a number of Shares equal to the quotient of (A) not less than $250,000 divided by (B) the average closing price of a Share for the ten 10 trading days immediately preceding (but not including) the date of grant on the principal stock exchange on which it then trades (the “Annual RSUs”). Each grant of Annual RSUs will, in general, vest (subject to Executive’s continued employment with the Company and notwithstanding any termination of this Agreement) in three four substantially equal installments on each of the first three four anniversaries of the applicable date of grant, and dividend equivalents will be credited with respect to such Annual RSUs and will be paid in cash on a current basis.

Annual RSUs. No later than March 15 of each calendar year during the Contract PeriodPeriod (starting in 2022), provided that Executive is continuously employed by SITE Centers through the applicable date of grant, Executive shall be eligible to receive a grant of service-based RSUs (or substantially similar award) covering a number of Shares equal to the quotient of (A) not less than $250,000 125,000 divided by (B) the average closing price of a Share for the ten trading days immediately preceding (but not including) the date of grant on the principal stock exchange on which it then trades (the “Annual RSUs”). Each grant of Annual RSUs will, in general, vest subject to Executive’s continued employment with the Company in three substantially equal installments on each of the first three anniversaries of the applicable date of grant, and dividend equivalents credited with respect to such Annual RSUs will be paid in cash on a current basis.

Annual RSUs. No later than March 15 of each calendar year during the Contract PeriodPeriod (starting in 2022), provided that Executive is continuously employed by SITE Centers through the applicable date of grant, Executive shall be eligible to receive a grant of service-based RSUs (or substantially similar award) covering a number of Shares equal to the quotient of (A) not less than $250,000 50,000 divided by (B) the average closing price of a Share for the ten trading days immediately preceding (but not including) the date of grant on the principal stock exchange on which it then trades (the “Annual RSUs”). Each grant of Annual RSUs will, in general, vest subject to Executive’s continued employment with the Company in three substantially equal installments on each of the first three anniversaries of the applicable date of grant, and dividend equivalents credited with respect to such Annual RSUs will be paid in cash on a current basis.