April 28, 2016 Jason A. Bates Parkway Properties, Inc. Bank of America Center Orlando, Florida 32801 Dear Mr. Bates,Letter Agreement • April 29th, 2016 • Parkway Properties Inc • Real estate investment trusts • New York
This letter agreement (this “Letter Agreement”) memorializes our discussions regarding the terms and conditions of your employment from and following the consummation of the transactions (collectively, the “Transactions”) contemplated by the Agreement and Plan of Merger among Parkway Properties, Inc., Parkway Properties LP, Cousins Properties Incorporated and Clinic Sub Inc., dated as of the date hereof (the “Merger Agreement”). For purposes of this Letter Agreement, terms that are capitalized but not defined herein shall have the meanings set forth in the Merger Agreement.
April 28, 2016 Scott E. Francis Parkway Properties, Inc. Bank of America Center Orlando, Florida 32801 Dear Mr. Francis,Letter Agreement • April 29th, 2016 • Parkway Properties Inc • Real estate investment trusts • New York
This letter agreement (this “Letter Agreement”) memorializes our discussions regarding the terms and conditions of your employment from and following the consummation of the transactions (collectively, the “Transactions”) contemplated by the Agreement and Plan of Merger among Parkway Properties, Inc., Parkway Properties LP, Cousins Properties Incorporated and Clinic Sub Inc., dated as of the date hereof (the “Merger Agreement”). For purposes of this Letter Agreement, terms that are capitalized but not defined herein shall have the meanings set forth in the Merger Agreement.
April 28, 2016Parkway Properties Inc • April 29th, 2016 • Real estate investment trusts • Delaware
As you know, we are considering entering into a potential Merger Agreement involving Parkway Properties, Inc. (“PKY”) and Parkway Properties, L.P. (“PKY LP”) which would result in a merger with another public REIT (“Public REIT”) (“Merger”). As part of the Merger transaction, the Houston assets owned by PKY LP would be combined with other Houston properties owned by Public REIT in a new UPREIT structure in which PKY LP will be the operating partnership for a newly formed public REIT (“Houston Co”), the stock of which would be distributed to the shareholders of the combined PKY and Public REIT. Non-Houston assets owned by PKY LP (“Core Assets”) currently are contemplated to be combined with non-Houston assets of Public REIT in a new UPREIT structure (“Core Assets LP”) for which Public REIT would be the parent (referred to as “Core Assets REIT”).
April 28, 2016Letter Agreement • April 29th, 2016 • Parkway Properties Inc • Real estate investment trusts • New York
