August 1, 2006 Tedd D. Towsley 4558 Woodbridge Lane Brecksville, OH 44141 Dear Tedd: Reference is made to that certain Employment Agreement (the “Employment Agreement”) dated October 27, 2004, by and between you and U-Store-It Trust (the “Company”)....U-Store-It Trust • August 7th, 2006 • Real estate investment trusts • Ohio
This letter agreement (the “Separation Agreement”) confirms the understanding reached by you and the Company with respect to your termination of employment with the Company. For purposes of this Separation Agreement, “you” is defined to include you as an individual and your spouse, any and all of your heirs, successors, assigns, agents, representatives, attorneys and all other affiliated and related individuals; the “Company” is defined to include all of the Company’s present, former and future affiliates, parents, holding companies, subsidiaries, directors, trustees, officers, shareholders, representatives, employees, insurers, successors, agents, attorneys, assigns, heirs, beneficiaries, personal representatives, executors, administrators and any and all persons acting by, through, under or in concert with any of them. Please review this Separation Agreement carefully to make sure you are in complete agreement.
