0001104659-03-025739 Sample Contracts

RESIGNATION AND RELEASE AGREEMENT
Resignation and Release Agreement • November 12th, 2003 • Price Legacy Corp • Real estate investment trusts • California

This RESIGNATION AND RELEASE AGREEMENT (the “Agreement”), dated as of October 15, 2003, by and between Price Legacy Corporation, a Maryland corporation (the “Company”), and S. Eric Ottesen (the “Executive”). Price Legacy and the Executive are each referred to herein sometimes as a “Party” and collectively as the “Parties.”

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October 15, 2003 Mark Burton Price Legacy Corporation
Price Legacy Corp • November 12th, 2003 • Real estate investment trusts
October 15, 2003 Jim Nakagawa Price Legacy Corporation 17140 Bernardo Center Drive, Suite 300 San Diego, CA 92128
Price Legacy Corp • November 12th, 2003 • Real estate investment trusts

This letter will serve to confirm our mutual agreement that in the event you resign your employment with the Company, you will be afforded the protection and benefits provided under paragraph 6(d) of your employment contract with the Company dated April 7, 2003.

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