0001047469-17-000314 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • January 24th, 2017 • JBG SMITH Properties • Maryland

Employment Agreement (the “Agreement”), dated as of October 31, 2016, by and between Vornado DC Spinco, a Maryland real estate investment trust (together with its affiliates, the “Company”), with its principal offices in Chevy Chase, Maryland and Kevin Reynolds (“Executive”).

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FORM OF EMPLOYEE MATTERS AGREEMENT BY AND BETWEEN VORNADO REALTY TRUST, VORNADO REALTY L.P., JBG SMITH PROPERTIES AND JBG SMITH PROPERTIES LP
Employee Matters Agreement • January 24th, 2017 • JBG SMITH Properties • New York

This EMPLOYEE MATTERS AGREEMENT (the “Agreement”), dated as of ·, 2017, is by and among Vornado Realty Trust, a Maryland real estate investment trust (“Vornado”), Vornado Realty L.P., a Delaware limited partnership (“VRLP”), JBG SMITH Properties, a Maryland real estate investment trust (“Newco”), and JBG SMITH Properties LP, a Delaware limited partnership (“Newco LP” and together with Vornado, VRLP and Newco, each a “Party” and collectively, the “Parties”).

TAX MATTERS AGREEMENT between VORNADO REALTY TRUST and JBG SMITH PROPERTIES dated as of
Tax Matters Agreement • January 24th, 2017 • JBG SMITH Properties • New York

THIS TAX MATTERS AGREEMENT (the “Agreement”) is dated as of [ ], 2017 by and between Vornado Realty Trust, a Maryland real estate investment trust (“Vornado”) and JBG Smith Properties, a Maryland real estate investment trust and a Subsidiary of Vornado immediately prior to the Vornado Distribution (as defined below) (“Newco” and, together with Vornado, the “Parties,” and each, a “Party”). Unless otherwise indicated, all “Section” references in this Agreement are to Sections of the Agreement.

REGISTRATION RIGHTS AGREEMENT
Registration Rights Agreement • January 24th, 2017 • JBG SMITH Properties • Maryland

This REGISTRATION RIGHTS AGREEMENT is entered into as of [·], 2017 by and among JBG Smith Properties, a Maryland real estate investment trust (the “Company”), and the holders listed on Schedule I hereto (each an “Initial Holder” and, collectively, the “Initial Holders”).

FORM OF JBG SMITH PROPERTIES UNIT ISSUANCE AGREEMENT
Unit Issuance Agreement • January 24th, 2017 • JBG SMITH Properties • Delaware

UNIT ISSUANCE AGREEMENT (the “Agreement” or “Unit Issuance Agreement”) made as of [·], 2017 between JBG SMITH Properties, a Maryland real estate investment trust (the “Company”), its subsidiary JBG SMITH Properties LP, a Delaware limited partnership (the “Partnership”), and [·] (the “Unit Holder”).

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